SOURCE: U Mining Resources Inc

September 05, 2007 09:04 ET

U Mining Resources Inc. Announces Next Tuesday's Management Trip to Texas to Finalize Binding Agreement for Acquisition of 55% Interest in Bio-Diesel Facility Valued at $25 Million

Announces Completion and Imminent Release of NI 43-101 Report on Laurentide Properties

NEW YORK, NY--(Marketwire - September 5, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that its Management team will be traveling to Texas next Tuesday in order to finalize the binding agreement for the acquisition of a 55% interest in the Bio-Diesel Facility. Management has scheduled meetings with the vendor of the Facility as well as with local banks to secure the financing and ensure the timely closure of this major acquisition.

The Company is currently in the final stages of the due diligence process, which involves the completion of a technical analysis by in-house experts who are evaluating the merits of this acquisition. The key acquisition of this facility will not only provide the Company with a strong foothold in the burgeoning Bio-diesel industry and form the foundation of its Green Energy Division, but also most importantly supply it with a significant physical asset worth over $25 million. This asset will be leveraged by U Mining to finance its operations, including the exploration and development of its several high-grade potential properties within its large and rapidly expanding Uranium Division.

U Mining also announced that the NI 43-101 Technical Report on the Laurentide Properties has been completed by the geologists. Further details on the imminent release date will be disclosed to shareholders upon review of the Report.

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.

Contact Information

  • Contact:
    Equiti-trend Advisors
    (800) 953-3350