Cline Mining Corporation

Cline Mining Corporation

March 01, 2007 09:56 ET

Cline Mining Announces UMC Energy plc to Apply for TSX Listing

TORONTO, ONTARIO--(CCNMatthews - March 1, 2007) - Cline Mining Corporation ("Cline") (TSX:CMK) is pleased to announce that the Board of UMC Energy plc ("UMC"), (AIM:UEP) has approved an application to list the shares of UMC on the Toronto Stock Exchange. Cline completed a reverse take-over of UMC on December 22, 2006 acquiring 12,272,667 shares of UMC for an approximate 40% equity share interest in UMC in return for its 80% interest in URAMAD S.A., its Madagascar uranium exploration company. URAMAD S.A. is a private Madagascar uranium exploration company in which the Madagascar Government Agency OMNIS also holds a 20% interest.

As announced earlier, the URAMAD Morondava Uranium Project covers an area of 9,993.75 square kilometers in the Morondava Basin of western Madagascar, which is filled with the uranium favourable Karoo Supergroup continental sediments. The Uranium Properties were earlier held by Cogema (CEA) of France which carried out extensive exploration work, with additional work being carried forward by the United Nations Development Programme ("PUND") and OMNIS. URAMAD has obtained the databases from this work which include an extensive earlier airborne survey (some 7,000 radioactive anomalies) and 83,000 metres of drilling in 790 drill holes with indicated uranium values and visible uranium mineralization. URAMAD is presently undertaking an exploration program on the property including diamond drilling and radiometric airborne surveys.

In addition, the Board of UMC has also announced that Mr. Glenn Whiddon has agreed to join the UMC board with immediate effect. Mr. Whiddon has substantial experience in accounting, banking, corporate finance and marketing, with extensive international experience in resources in North America, Europe and Russia. Mr. Whiddon is currently executive chairman of Grove Energy Limited and expects to stand down from the Board of Grove upon the completion of its merger with Stratic Energy Limited scheduled for mid / late April 2007.

Cline Mining Corporation is a mine development company focused on the exploration and development of uranium and iron-ore in Madagascar, gold in Canada and metallurgical coal in Canada for the international seaborne coal trade market. The Company website can be located at


Ken Bates, President and Chief Executive Officer

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