Underworld Resources Inc.

Underworld Resources Inc.

March 09, 2010 07:00 ET

Underworld Adds Fourth Drill Rig for 30,000 Meter Drill Program to Expand White Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 9, 2010) - Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce the mobilization for the 2010 exploration program to the White Gold property. The company expects an early start to drilling this season.

Underworld is planning a minimum of 30,000 meters of diamond drilling during 2010 utilizing four drill rigs. The primary objective of the program is to expand the Golden Saddle Deposit, 1,004,570 oz. Au averaging 3.2 g/t Au in an indicated category, with an additional 407,413 oz Au averaging 2.5 g/t Au of additional inferred resources (see NR UW 2010 #1). Initial drill holes will step out to the north and east from holes WD09-101, which intersected 4.86 g/t Au over 23.38 meters and WD09-103 which intersected 5.07 g/t Au over 25.38 meters, the most northeasterly and deepest holes completed to-date.

Underworld's primary objective is to expand high-grade, bulk tonnage mineralization at Golden Saddle utilizing all four drills, with the objective of releasing an expanded resource estimate completed by July 2010. Drilling will continue to target a 50 by 50 meter spaced drilling pattern. The Golden Saddle Deposit remains open to expansion along strike to the northeast, and down dip to the northwest. Strength of alteration and mineralization increases in intensity to the northeast. For a complete list of drill hole intercepts and location maps, please visit www.underworldresources.com.

Another primary objective of the 2010 drilling program will be to target additional gold showings and geochemical anomalies at multiple targets on Underworld's extensive land package. Targets include: McKinnon, Frenzy, Lynx, Ulli's Ridge and Teachers showings. Many of these targets host gold and pathfinder element soil anomalies similar to or greater than the original Arc and Golden Saddle deposits anomalies. In particular, Underworld will establish a second camp targeting widespread anomalies at the JP Ross and Maisy Mae Property, with the Frenzy target identified as a robust anomaly with stronger gold in soil values than the Golden Saddle Deposit.

The third objective during 2010, is to infill and expand the Arc deposit, which hosts an inferred resource of 170,470 oz. Au averaging 1.2 g/t Au. Drilling during 2009 was completed on 100m centers, and covers only a portion of the 2,200 meter soil anomaly. Near surface, sediment-hosted mineralization at the Arc deposit is located 1,000 meters south of the Golden Saddle Deposit.

During the 2010 program, geotechnical drilling and mapping, as well as additional metallurgical testwork, engineering studies, environmental baseline sampling and community consultation will be ongoing. Underworld intends to rapidly advance the White Gold Property towards feasibility.

Mobilization of supplies and equipment using an ice road from Pelley Farm to the White Gold Camp is scheduled to commence imminently. Included in the shipment will be a fourth drill rig. The fourth machine is sled mounted and able to drill deeper holes, faster.

Underworld has filed the NI 43-101 Technical Report titled "Mineral Resource Estimation, Dawson Range, Yukon, Canada", authored by Marek Nowak, P.Eng. et al of SRK Consulting. This report can be viewed at www.sedar.com.

The Company announces the granting of 100,000 stock options to employees and consultants to Underworld priced at $1.80. The options are exercisable for a period of 10 years. Additionally, the Company wishes to announce the donation of 50,000 shares to the Britannia Mining Museum in British Columbia.

Underworld Resources is a well-structured junior exploration company focused on expanding its new gold discovery in the Yukon.


Adrian Fleming, President

Forward Looking Statement

Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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