SOURCE: U Mining Resources Inc.

November 01, 2007 10:13 ET

U Mining Resources Inc. Highlights Positive Environmental and Financial Impact of Its Revolutionary Diesel Fuel Technology

NEW YORK, NY--(Marketwire - November 1, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced further details on its recent acquisition of a revolutionary diesel fuel technology, which forms the cornerstone of its Green Energy Division. U Mining acquired the rights to the fuel emulsion technology from WUKA Service in exchange for a minority equity interest in the Joint Venture. Under the terms of the Agreement, the two firms will jointly develop and commercialize two innovative, alternative light and heavy diesel fuels. The diesel fuels are less costly, more fuel efficient, deliver higher performance and are less toxic than currently available fuels on the market used in diesel engines of cars, trucks, locomotives and ships and in industrial heating appliances.

The proprietary fuel mixtures will be in high-demand in today's industrialized world, which has set goals for reducing collective emissions of greenhouse gases as mandated by the Kyoto Protocol and the Asia Pacific Partnership on Clean Development and Climate. Based on a preliminary evaluation of the fuels for medium-speed diesel engine use, NOx emission reduced by about 7% of the baseline fuel; CO emission reduced by about 20% of the baseline; and Smoke level dropped to 70~90% of baseline readings. The complete experimental results are contained in the diesel fuel technology business plan, which may be accessed by shareholders from U Mining's corporate website.

U Mining also announced encouraging progress in its plans to commercialize the proprietary technology by selling turnkey Microplant licenses. This would allow operators worldwide to build low-cost mixing facilities (preferably near national ports) utilizing U Mining's know-how, equipment and proprietary surfactant; and purchasing crude oil directly from the most cost-effective source. U Mining will earn royalty revenue from the licensees based on the total number of gallons produced for sale.

Finally, U Mining's Management clarified the rationale behind its decision to terminate negotiations for the acquisition of a Bio-Diesel plant in Texas. Management concluded that the long-term financial success and viability of the acquisition hinged on the Company's ability to secure majority ownership of the plant. However, U Mining signed a letter of intent to acquire 40% of the plant and could not close the purchase of an additional 15% of the facility. A minority interest in the plant would have placed U Mining in a precarious position with respect to the control of the facility, which would be exacerbated by the onerous demands of and significant potential liability created by the financial lending institution involved in the transaction.

To receive information letter and be added on the Company's mailing list, speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.

Or visit the Company's corporate website at www.umining.com

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Investor Relations
    Equiti-trend Advisors
    (800) 953-3350