Underworld Resources Inc.
TSX VENTURE : UW

Underworld Resources Inc.

June 07, 2007 20:13 ET

Underworld Announces Non-Brokered Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Underworld Resources Inc. (TSX VENTURE:UW) announces that it intends to complete a non-brokered private placement, subject to regulatory approval, of 3,425,000 shares at a price of $.95 per share. A cash or share finder's fee of 7% of the gross proceeds may be payable. The Company intends to use the net proceeds from the financing for exploration expenses on the Company's projects and for general working capital.

Underworld is a well-structured junior exploration company exploring in New Zealand and Canada. Drilling is planned at both the Lottin Point and Golden Progress Properties in New Zealand during the summer of 2007. Underworld is also planning an aggressive geological mapping, mechanical trenching and IP geophysical program at the White Gold and Black Fox properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Fleming, President

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions and the use of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated transactions and the use of proceeds.

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

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