UC Resources Ltd.

UC Resources Ltd.

August 29, 2011 09:30 ET

UC Resources Announces Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - UC Resources Ltd. ("UC" or "the Company) (TSX VENTURE:UC) is pleased to provide an update of the drilling of a recently discovered anomaly in the McFaulds lake area of the "Ring of Fire" in Northern, Ontario. The company completed its 1200 metre, 2-hole core drilling program at McFaulds Lake property and submitted 126 cut core samples for assay.

A description of the core encountered during the program has been provided below by M.J. (Moe) Lavigne, P. Geo, who was acting as QP for this drill program and a qualified person pursuant to National Instrument 43-101 has reviewed and approved the technical information in this press release on behalf of the company.

Hole MCF-11-84 was collared 200 metres west of McFaulds Lake, drilled to the southeast at a 45 degree inclination, to a depth of 712 metres. The intent of the hole was to test a magnetic high adjacent to a gravity high based on a recent airborne survey. A thick fractionated mafic-ultramafic intrusive was drilled from its top, to near its bottom where the hole terminated in a younger gabbro-pyroxenite intrusive. Zones of disseminated chalcopyrite in gabbro-pyroxenite and sulphide mineralization associated with shear zones, veining, and pelitic xenoliths were sampled. Magnetite rich ultramafic layers were also sampled. Based on a visual estimate, the copper content of the mineralization encountered will not exceed 0.5%, but are good candidates for PGE enrichment. The magnetite rich rocks encountered are also good candidate for PGE enrichment, and may also have elevated vanadium and titanium.

Hole MCF-11-85 was collared 1.34 kilometres west of hole MCF-11-84, drilled to the south at a 45 degree inclination to a depth of 495 metres. The intent of this hole was to test a magnetic low overlapping with a gravity high. Similar to hole 84, this hole encountered younger gabbro-pyroxenite intruding pre-existing gabbro and volcanic rock. This hole also encountered multiple types of mineralization, and again the predominant mineralization is disseminated chalcopyrite-pyrrhotite-pyrite in pyroxenite, from 1 to 5% and up to 12 metres. A 10 metre zone of disseminated sulphides in heterolithic gabbro, similar to mineralization at the Lac des Iles PGE deposit was sampled. A 24 metre intercept with 5% disseminated pyrrhotite, and lesser chalcopyrite, was found in amygdaloidal mafic volcanics, which may be, "Kambalda Type" nickel mineralization. As in hole 84, sulphide mineralization is also associated with xenoliths, shear zones and veins.

Assaying will be conducted by Activation Laboratories Ltd of Ancaster, Ontario and results will be press released upon arrival.

UC Resources is an active explorer of base metals and chromite in the McFaulds Lake area ("Ring of Fire") of the James Bay Lowlands, Ontario, as well as an explorer and producer of precious metals in Mexico.

On behalf of the Board of Directors,

Gary Monaghan, CEO

We seek safe harbour.

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the McFaulds/La Yesca properties and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Contact Information