Underworld Resources Inc.

Underworld Resources Inc.

September 28, 2009 09:03 ET

Underworld Step-Out Holes Expand Golden Saddle Zone, Including 2.68 g/t Au Over 75.0 Meters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2009) - Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce additional results from the White Gold Property, Yukon. There are an additional 21 holes pending assay at the Golden Saddle Zone and 11 holes are pending assay on several regional targets. At Golden Saddle, mineralization remains open to expansion along strike to the northeast and at depth.

Highlights of the most recent assays from the Golden Saddle Zone include:

Hole ID Weighted avg. grade(g/t Au) Length (m)
WD09-72 3.49 g/t Au 49.50 meters
WD09-74 1.94 g/t Au 112.0 meters
WD09-78 2.68 g/t Au 75.0 meters
WD09-80 8.93 g/t Au 10.00 meters

These most recent results include multiple holes that have expanded the Golden Saddle along strike to the northeast, and down-dip. In the eastern portion of the Deposit, thick intercepts of gold mineralization were encountered. A change in host rock from felsic metaintrusive to mafic metavolcanics has resulted in thick, high grade zones within broader intervals. These include hole WD09-74, which intersected 112.0 meters averaging 1.94 g/t Au, including 10.85 meters averaging 8.40 g/t Au, and WD09-78, which intersected 75.0 meters averaging 2.68 g/t Au, including 5.59 meters averaging 19.56 g/t Au. Deeper mineralization could potentially be amenable to open-pit mining, or underground bulk-mining methods.

Drill holes WD09-72 and WD09-80 are step out holes down dip at Golden Saddle. WD09-72, returned 49.5 meters averaging 3.49 g/t Au, and WD09-80 returned 16.94 meters averaging 5.94 g/t Au, including 10.00 meters averaging 8.93 g/t Au. Mineralization in WD09-80 includes abundant visible gold within quartz breccias and veins. Both holes demonstrate excellent continuity of the zone to approximately 450 meters down-dip from the surface outcropping of Golden Saddle.

An updated drill plan and cross-sections will be available shortly at www.underworldresources.com.

Most recent drill results include:

Hole ID From To Length Au (g/t)
Golden Saddle
WD09-60 142.00 143.62 2.16 1.62
WD09-72 348.00 397.50 49.50 3.49
Including 369.00 395.49 26.49 5.20
Including 380.50 390.50 10.00 8.09
WD09-74 293.00 405.00 112.00 1.94
Including 293.00 324.50 31.50 4.47
or 310.00 320.85 10.85 8.40
WD09-78 327.00 402.00 75.00 2.68
Including 327.00 371.50 44.50 4.30
Including 366.67 369.83 5.59 19.56
WD09-80 358.00 374.94 16.94 5.94
Including 364.00 374.00 10.00 8.93
WD09-85 82.00 83.50 1.50 1.15

WD09-73 41.50 64.27 27.77 0.81
WD09-75 30.00 40.98 10.98 1.59
WD09-76 No Significant Assays
WD09-79 146.00 156.50 10.00 1.43
WD09-81 89.00 108.97 19.97 1.14
WD09-82 No Significant Assays
WD09-84 57.50 74.35 16.85 0.74
and 169.00 175.00 6.00 8.26
including 169.00 171.50 1.51 23.80

(i)True Widths are estimated to be between 70% and 100% of drilled interval

The 2009 exploration program at the White Gold Project is now complete. The program included 25,670 meters of drilling, including 19,023 meters in 60 holes at the Golden Saddle Deposit. Surface sampling at the White Gold Property as well as regional targets will be continuing until early October.

Intrusive-related gold mineralization at the Golden Saddle Zone is preferentially hosted within metamorphosed felsic intrusive units, as well as felsic and mafic metavolcanic rocks. Gold mineralization is associated with quartz veins, stockwork and breccia zones, as well as pyrite veinlettes and disseminations. The alteration assemblage includes pervasive K-spar, carbonate, sericite and silicification. The main mineralized zone at Golden Saddle strikes to the northeast, with a gentle to moderate dip to the northwest.

The objective of the 2009 drill program at Golden Saddle and the Arc Zone was to expand the known extent of mineralization in all directions, with the intent to complete an initial NI 43-101 compliant resource estimates for both Zones. Drill spacing was nominally 50 and 100 meter centers at Golden Saddle and Arc, respectively.

At the Arc Zone, located about 1,000 meters south of Golden Saddle, recent results include multiple intercepts of near-surface gold mineralization, including WD09-81, which intercepted 19.97 meters averaging 1.14 g/t Au, and WD09-84, which intercepted 6.00 meters averaging 8.26 g/t Au. Mineralization is hosted within silicified and brecciated metasedimentary rocks.

Quality Assurance

Underworld has implemented a rigorous QA/QC program at the White Gold Property using best industry practice. Elements of the program include: chain of custody of samples, insertion of standard and blank samples, and check assays. Drill core is sawn in half and shipped in sealed bags to ALS Chemex Laboratories in Vancouver, B.C. Check assays are completed by Acme Laboratories, Vancouver.

The ongoing 2009 Exploration Program is directed by Adrian Fleming, M.A.I.G, RPGeo, M.Aus.I.M.M., President of Underworld Resources and a Qualified Person as defined by NI 43-101. Mr. Fleming prepared, and approves of the content of this release.

Underworld Resources is a well-structured junior exploration company focused on expanding its new gold discovery in the Yukon. For further information contact Jeff Sundar, Investor Relations at 604-684-4001.


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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