SOURCE: U Mining Resources Inc.

September 17, 2007 09:46 ET

U Mining Resources Inc. Has Received the Laurentide 1 and 2 Preliminary NI-43-101 Report to Be Published in Its Final Format This Week

Management Confirmed Take Over Process of the TSX Venture Company Has Begun

NEW YORK, NY--(Marketwire - September 17, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced receiving the NI-43-101 preliminary report for its Laurentide 1 and 2 property prepared by Innovexplo (geologist firm). www.innovexplo.com

The report is currently being analyzed by our in-house experts and will be published in its final presentation format this week. The full version report will be made available for consultation to our shareholders in PDF format on the Company's corporate Web Site at www.umining.com

Following publication of the report, management will mandate Innovexplo to begin the preparation of a NI-43-101 on our Chibougamau property. The main objective is for the Company to circumvent the key areas of our Uranium rich properties, where to plan the second phase of exploration program scheduled for winter 2008.

Management also indicated that take over process of the TSX Venture has begun. The purpose of this acquisition is for U Mining to take advantage of the Canadian mining regime incentives for the second phase of exploration drilling program financing. Management will prepare all the documentation and filings for a flow-through share prospectus, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to purchase U Mining's subsidiary stock and claim a major tax deduction on their investment (see links below for further information). U Mining will also be able to consolidate the TSX Venture Corporation's financial statements with its own statements.

http://www.mrnf.gouv.qc.ca/english/publications/mines/fiscal/Accreditives-2004.pdf

http://www.mrnf.gouv.qc.ca/english/mines/fiscal/fiscal-support-flow.jsp

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:
    Investor Relations
    Equiti-trend Advisors
    (800) 953-3350