SOURCE: U Mining Resources Inc.

June 22, 2007 08:30 ET

U Mining Resources Inc. Announces Initialization of Company Stock Buyback Program

Updates on Filings and Corporate Development Strategy

NEW YORK, NY--(Marketwire - June 22, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) announced today that management has decided to initiate an aggressive Stock Buyback program of its trading shares in order to overcome continuous illegal short selling positions commencing with the announcement of this press release.

This buyback program is taking place in conjunction with an institutional finance group currently working with the Company and combined with a group of friendly UMNG shareholders who will be buying stock on a daily basis on the open market.

Management stated, "This action reflects our strong belief in the fundamental value of the Company. At current prices, we believe our stock is undervalued and that it represents an attractive investment opportunity. We believe Uranium prices will continue to increase and management will keep securing and acquiring strategic Uranium territories. We are building our asset base while conducting geologic reports and lab tests to measure the value of our proven resources."

Management is currently waiting for the imminent release of its NI-43-101 reports on Laurentide 1 and 2 properties. U Mining can then make a final decision on the closing date of the audited financial statements in preparation for filing form 10 to up list on the OTC.BB.

More information on this and other pending matters will be made available to shareholders on a timely basis.

For more information on U Mining Resources Inc., please visit the Company's corporate website at www.umining.com, and/or speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.

Forward-Looking Statements:

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

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