URSA Major Minerals Incorporated
TSX : UMJ

URSA Major Minerals Incorporated

October 09, 2007 10:33 ET

URSA Major Minerals Completes Haulage of 50,000 Tonne Bulk Sample From Shakespeare Nickel Project to Strathcona Mill, Sudbury Area, Ontario

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.

URSA Major Minerals Incorporated (TSX:UMJ) ("URSA Major") is pleased to announce that the Company has completed the mining, crushing and haulage of a 50,000 tonne bulk sample from the Shakespeare nickel project. The ore has been stockpiled at Xstrata Nickel's Strathcona mill and it is anticipated that Xstrata Nickel will start batch processing the ore during the week of October 15, 2007. The Shakespeare nickel project is located 70 km west of Sudbury, Ontario.

Richard Sutcliffe, URSA Major's President and CEO stated, "We are very pleased to have completed this milestone. The bulk sample will provide us with an important test of the mining characteristics, reserve grade and metallurgical recoveries at a commercial scale. This will further enable us to advance our objective of developing a 4,500 tpd mine and mill at the Shakespeare deposit. Although not intended as a commercial scale operation, URSA Major expects that the bulk sample will provide significant cash flow." William Day Construction Limited carried out the excavation, crushing and haulage of the bulk ore sample from the Shakespeare nickel deposit.

URSA Major completed a positive full feasibility study on the Shakespeare Project in 2006. The feasibility study is available on the Company's website at www.ursamajorminerals.com. The Shakespeare deposit contains a diluted Probable Reserve of 11,226,000 tonnes grading 0.33% nickel, 0.35% copper, 0.02% cobalt, and 0.9 g /t precious metals.

URSA Major is also pleased to announce that Mr. William Dillabough has been appointed Shakespeare Project Site Manager. Mr. Dillabough has been involved the Shakespeare project since 2003 and since January 2007 managed the preparation and execution of the bulk sample mining program for URSA Major.

This release was prepared by management of the Company who takes full responsibility for its contents.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • URSA Major Minerals Incorporated
    Richard Sutcliffe, Ph.D., P.Geo
    President & CEO
    (416) 864-0615
    (416) 864-0620 (FAX)
    or
    URSA Major Minerals Incorporated
    Chris Chadder, C.A.
    CFO
    (416) 864-0615
    (416) 864-0620 (FAX)
    Email: info@ursamajorminerals.com
    Website: www.ursamajorminerals.com
    or
    URSA Major Minerals Incorporated
    Gus Garisto
    Investor Relations
    Cell: (416) 805-3106