Upper Canada Gold Corporation

July 06, 2010 20:29 ET

CORRECTION FROM SOURCE: Upper Canada Gold Corporation Announces Assay Results from the Dingman Property 2010 Drilling

TORONTO, ONTARIO--(Marketwire - July 6, 2010) - Please take note that there is a correction in the Company's news release that was disseminated earlier today at 9:18am ET; the correction is in the second paragraph and should read "eighth, ninth and tenth drill holes" as opposed to "second and third drill holes". The following corrects and replaces the release.

Upper Canada Gold Corporation (the "Company") (TSX VENTURE:UCC) announces selected drill hole results from the drill program that commenced in early March 2010 on the Company's 100% owned Dingman Property.

The following assay results, corresponding to the eighth, ninth and tenth drill holes of a minimum twenty hole drill program at the Dingman Property are as follows:

Assay Results Received For Upper Canada Gold 2010 Drilling — Dingman Project

DH-ID Section Dip (degree) From (m) To (m) Length (m) Au (g/t)
DI-10-04A L150W, 250N -55 206.2 297.4 91.2 1.01
    Including:   206.2 214.2 8.0 1.48
      216.2 228.0 11.8 0.66
      236.5 242.0 5.5 2.12
      247.0 258.4 11.4 1.33
      262.0 272.4 10.4 0.96
      274.0 279.5 5.5 0.97
      281.5 297.4 15.9 1.59
DI-10-04B L150W, 250N -48 189.4 285.5 96.1 0.96
    Including:   189.4 198.0 8.6 0.69
      199.8 212.7 12.9 2.16
      213.2 221.5 8.3 1.06
      223.3 230.3 7.0 0.57
      236.0 245.0 9.0 2.12
      271.6 285.5 13.9 1.33
DI-10-04C L150W, 218N -44 163.0 251.5 88.5 0.65
    Including:   163.0 168.0 5.0 0.83
      178.5 180.0 1.5 0.97
      191.5 195.2 3.7 0.85
      198.0 201.4 3.4 1.65
      203.5 208.6 5.1 1.14
      214.0 224.0 10.0 0.52
      227.0 233.5 6.5 2.90
      240.5 243.3 2.8 1.03
      245.5 251.5 6.0 0.78

The true widths of these mineralized zones are approximately 70% of the above Dingman drill intercept widths.

The holes, corresponding to the above assays, were drilled on section below DI-07-14 and DI-07-06, which was previously drilled by Opawica Explorations Inc. ("OPW"), to extend the continuity of the mineralization below the OPW drill holes. The drill pattern was designed to have pierce points 25-30m apart within the plane of the mineralization in order that the contained mineralization could be included in future resource updates. The drill holes above indicate increasing average grade with depth (DI-10-04C to DI-10-04A).

The drill program is focused on extending the mineralization beneath the current resource base from approximately 200 m to 300 m below surface. As described further in the Company's NI-43-101 compliant technical report on the Dingman Property dated September 15, 2009 and filed on SEDAR, the indicated resource estimate for the Dingman Property includes a total of 8,801,000 tonnes at 0.97 g/t Au. The inferred resource estimate is a total of 11,301,000 tonnes at 0.98 g/t Au. These resources are based on a 0.40 g/t Au cut-off grade and a capping Au strategy of 30 g/t.

Approximately 6,700 m of drilling is planned under the current drill program of which approximately 5,502 m has been completed. Sample reporting was delayed for DI-10-04A and DI-10-04B (Section L150W, 250N) due to pending assay results DI-10-04C.

Assays results are also pending for seven additional drill holes (1,463 samples) while four additional drill holes are being sampled.

Fire assaying for the Dingman property was completed by AGAT Laboratories of Mississauga, Ontario.

This release has been reviewed by Michael Leahey, [P.Geo.], who is a qualified person under National Instrument 43-101 and is responsible for the drill program.

Cautionary Note Regarding Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization, resources and expansion of resources, recoveries, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with mine permitting, metallurgy, development, construction and mining operations, the uncertainty of the determination of mineable ounces of gold and copper in pounds or other minerals in pounds, or the future profitability of the Company's projects.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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