Underworld Resources Inc.
TSX VENTURE : UW

Underworld Resources Inc.

April 01, 2010 18:41 ET

Underworld Resources Announces Accelerated Expiry of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2010) - 

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

Underworld Resources Inc. (the "Company") (TSX VENTURE:UW) is pleased to announce that the accelerated expiry provision in the share purchase warrants (the "Warrants") originally issued by the Company on June 19, 2009 has been satisfied, in that for a period of fifteen (15) consecutive trading days the volume-weighted average trading price of the Company's shares on the TSX Venture Exchange has been greater than $2.00 per share.

The Company has elected to accelerate the expiry of the Warrants and the expiry date will now be May 3, 2010. Notice of the acceleration of the expiry of the Warrants is being mailed to registered holders of the Warrants.

Holders may exercise the Warrants before 4:30 p.m. (Vancouver time) on May 3, 2010 by surrendering to the Company at Suite 1500, 409 Granville Street, Vancouver, British Columbia, V6C 1T2 the Warrant certificate, together with (i) a duly completed and executed exercise form in the form attached to the Warrant certificate; (ii) the original Warrant certificate; and (iii) a certified cheque, bank draft, cash or money order payable to Underworld Resources Inc. in an amount equal to the purchase price of the number of shares subscribed for.

ON BEHALF OF THE BOARD OF DIRECTORS

"Adrian Fleming"

President and Chief Executive Officer

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

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