SOURCE: U Mining Resources Inc.

October 16, 2007 10:58 ET

U Mining Resources Inc. Provides Update on Its Green Energy Division

Company Ceases Talks With U.S. Facility and Turns Focus to the Development of a Sales Program Which Will License Proprietary Technology to Multiple Microplants Internationally

NEW YORK, NY--(Marketwire - October 16, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today provided an update on its Green Energy Division and the recently announced L.O.I for the acquisition of a portion of a U.S.-based bio-diesel facility. Management has decided to commercialize the proprietary technology by selling turnkey Microplant licenses, which allow operators worldwide to build low-cost mixing facilities utilizing U Mining's know-how, equipment and proprietary surfactant; and purchasing crude oil directly from the most cost-effective source. U Mining's experts are currently evaluating the mixing equipment that it intends to recommend to operators. In addition, the Company is assessing the valuation of the license base sales price and royalties on each gallon produced.

This proprietary technology, based on surfactant chemistry, is used to produce two innovative diesel fuels: a substitute of light diesel and a substitute of heavy diesel. The fuel mixtures are less costly, more efficient, deliver higher performance and are less toxic than currently available fuels on the market that are used in diesel engines of cars, trucks, locomotives and ships and in industrial heating appliances.

CEO Jean Michel de Montigny stated, "We decided to package our technologies in a sales licensing agreement program. The licensing program allows U Mining to begin generating revenues without having to support major operating costs that would have been incurred with the acquisition of the plant. We will incur approximately $100,000 in R&D and costs related to the building of a demo unit in City of Saint Eustache, Quebec.

"We have been working on other major projects to capture market share and increase the revenues of our Green Energy Division. These projects will capitalize on the significant growth in the demand for 'green' or alternative energy sources, which is driven by the challenges of climate change. We will soon publish our voluntary disclosure statement and financials and inform our shareholders of the company's directional plan via a newsletter format."

To receive information letter and be added on the Company's mailing list, 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.

Or visit the Company's corporate website at www.umining.com

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