Underworld Resources Inc.
TSX VENTURE : UW

Underworld Resources Inc.

January 08, 2008 20:13 ET

Underworld Resources Announces Appointment of Vice President of Exploration and CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce the appointment of Mr. Jason Cunliffe, P.Geo. as Vice President of Exploration and Mr. Cale J. Moodie, BSF, CA to the position of Chief Financial Officer.

Prior to joining Underworld Resources, Mr. Cunliffe served as South American Exploration Manager with Hochschild Mining PLC (the fourth largest primary silver producer globally and a mid-cap gold producer). Mr. Cunliffe has obtained a Masters in Mineral Exploration and Mining Geology from Leicester University, UK. Mr. Cunliffe and his team will be evaluating precious and base metal opportunities in South America.

Mr. Moodie is a Chartered Accountant and previous to joining Underworld Resources, he served as the Chief Financial Officer for Sierra Geothermal Power Corp. Prior to Sierra Mr. Moodie worked in public practice accounting at KPMG LLP's Vancouver Industrial Markets Group, where he focused on audits of mining and resource based companies. Mr. Moodie also acted as client services director for 24/7 Media UK before his experience in public practice accounting.

The Company has also granted, effective January 8, 2008, an aggregate 200,000 incentive stock options exercisable at a price of $1.00 per share for a period of five years pursuant to its stock option plan accepted by the TSX Venture Exchange on January 30, 2007.

Underworld Resources is a well-structured junior exploration company with exploration programs in New Zealand and the Yukon Territory, Canada. Further surface results are expected shortly from the Company's Yukon properties, with drilling to commence in the spring.

ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Fleming, President

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

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