UGL Enterprises Ltd.

UGL Enterprises Ltd.

July 12, 2005 07:00 ET

Mongolian Uranium Exploration to Commence Immediately; Maple Minerals Favourably Completes Due Diligence on UGL Uranium Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 12, 2005) - UGL Enterprises Ltd. (TSX VENTURE:UGS) is pleased to announce that Maple Mineral Corp. ("Maple") (TSX VENTURE:MPM) has completed its due diligence under the previously announced Alliance Agreement (see June 15, 2005 press release) between Maple and UGL Enterprises Ltd. ("UGL") covering UGL's Mongolian uranium properties. Field crews have been mobilized and will begin immediate exploration on several of the key uranium properties.

The work programs will include systematic prospecting to further define and locate the uranium targets. Under the terms of the Alliance Agreement, UGL will remain operator during all exploration programs. The work will be completed under the direction of Glenn Griesbach, P.Geo., UGL's Uranium Project Manager for Mongolia, who is acting as the Qualified Person for this project.

Under the Alliance Agreement, Maple has the option to earn a 50% interest in UGL's uranium exploration properties by expending US$1.5 million over a three year period, of which US$350,000 must be spent within the first year. Maple may then increase its interest to 60% by expending a further US$2 million over a further three year period. Should Maple choose not to exercise this additional option, a joint venture will proceed on a 50/50 funding and equity basis. The agreement provides for Maple to issue 50,000 shares to UGL within 3 days of receipt of TSX Venture Exchange acceptance of the Agreement. In addition, should UGL exercise its option to acquire 100% of the Nergui property from the local vendor, Maple will issue to UGL common shares in its capital to a value of CDN$75,000.

The Alliance Agreement with Maple is subject to regulatory approval.


UGL Enterprises Ltd. is a junior resource company trading on the TSX-Venture Exchange under the trading symbol "UGS". UGL has five gold and copper exploration projects located throughout Mongolia and is presently formulating exploration programs to commence in the summer of 2005. UGL has a strategic alliance with Mine Info Ltd., a leading Mongolian Exploration company, and has a full time office in the capital city, Ulaan Baatar.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporation's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The companies do not assume the obligation to update any forward-looking statement.

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

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