URSA Major International Inc.

URSA Major International Inc.

July 31, 2006 16:54 ET

CORRECTION: Ursa Major International Inc. Signs Heads of Agreement to Acquire Little Deer Mining Property, Newfoundland, Canada and Concurrent Financing

TORONTO, ONTARIO--(CCNMatthews - July 31, 2006) - In the release issued at 4:15PM ET July 31, 2006 the stock symbol and exchange mentioned in the release are incorrect. The shares of Ursa International are not listed on any regulated stock exchange or market place. The complete and corrected release follows.

Ursa Major International Inc. (Ursa International) is pleased to announce that it has signed a Heads of Agreement to acquire the Little Deer Copper Project in Newfoundland, Canada. Ursa International also plans to conduct a financing, consolidate its currently outstanding shares, change its name and seek a listing on the TSX Venture Exchange.

Ursa International is not to be confused with URSA Major Minerals Incorporated, a company trading on the TSX Venture Exchange (Trading Symbol: UMJ). Ursa International is a corporation formed under the laws of Barbados and is a reporting issuer in the province of Ontario. The shares of Ursa International are not listed on any regulated stock exchange or market place.

The proposed acquisition is subject to satisfactory due diligence, a concurrent financing of at least $3,400,000, approval of the transaction by the shareholders of Ursa International and approval by the appropriate regulatory authorities and the TSX Venture Exchange.

Subject to resident net smelter royalty agreements with third parties, Ursa International will acquire all right, title and interest in and to the Little Deer Property in consideration for the issuance of shares of Ursa International. Ursa International will concurrently conduct a flow through and hard dollar financing.

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.

Contact Information

  • Ursa Major International Inc.
    Dr. Richard H. Sutcliffe
    President and CEO
    (416) 864-0615
    (416) 864-0620 (FAX)