UC Resources Ltd.

UC Resources Ltd.

July 17, 2007 12:06 ET

UC Resources Intersects 2.45 Meters Averaging 1.52 Ounces Per Ton Gold and 112.1 Ounces Per Ton Silver at La Soledad Occurrence-Copalquin Property, Durango Mexico

GUADALAJARA, JALISCO, MEXICO and VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - UC Resources Ltd. (the Company) (TSX VENTURE:UC) is pleased to announce that the previously announced (June 12, 2007) drill intersection at La Soledad gold-silver project, has received partial assay results. Hole MP-07-101 has received preliminary (please refer to assay methodology) assays over the main mineralized zone. Samples selected over the six meters that encompasses the mineralized zoned averaged 21.93 g/t Au (0.64 ounces Au per ton) and 1,597.4 g/t Ag (46.6 ounces Ag per ton). The initial 2.45 meter section of the sample averaged 52.27 g/t Au (1.52 ounces Au per ton) and 3,840.47 g/t Ag (112.01 ounces Ag per ton). True width of the mineralized zone is undetermined at this point in the exploration of the La Soledad vein system.

The drilling was completed during the company's Phase III exploration program at Copalquin. Since the last news release, (June 12, 2007) a second hole MP-07-102 also intersected the main Soledad structure, approximately 50 meters west of hole MP-07-101. The observed geology (identified minerals; gold, silver and argentite) of the 4.68 meter drill intersection of this second hole was similar to that of hole MP-07-101.

Hole MP-07-101 is situated in a barranca (a narrow, ravine-like valley), approximately 42 m west of MP-007 which was completed in 2006. Due to topography and limited access, just prior to the rainy season, hole MP-07-102 was drilled from the same collar location as hole MP-07-101, however the azimuth of the hole was adjusted 20 degrees further west, dips for the two holes were both set at -50 degrees.

Recall that MP-07 Assays (previously announced July 20, 2006) were 44.6 g/t gold (1.30 ounces per ton gold) and 1,564 g/t silver (45.6 ounces per ton silver) over 5.15 meters core length. A 1.75 metre higher grade section within this interval reported 112.8 g/t gold (3.29 ounces per ton Au) and 4,337 g/t silver (126.5 ounces per ton Ag).

The current program (holes MP-07-101 and 102) were designed to test the strike extension of the La Soledad vein system, west of 2006 drill hole MP-07 and of the known underground workings.

Samples from the recent (2007 holes) were selected, diamond cut in half, sealed in plastic bags and were hand delivered to the ALS Chemex preparation laboratory in Guadalajara, Jalisco where they were processed and delivered by bonded carrier to ALS Chemex Laboratory in Vancouver B.C. for analysis. The remaining core is stored on the project site. All core samples from the drill program were submitted for multi-element analysis ME-ICP41, (Multi-element inductively coupled plasma with atomic emission spectroscopy finish (ICP-AES). The gold and silver results were fire assayed with gravimetric finish analysis using ALS Chemex analytical code ME-GRA2. The gravimetric analysis involves fire assaying the sample and physical weighing of the gold and silver. For those samples that received preliminary assays in excess of 20 grams per tonne gold during the initial assay, or where gold was observed during logging examination, an additional 1000 grams of each sample will be selected and subjected to metallics screen fire assaying. This analytical procedure "metallics" or screen fire assay method code Au-SCR22 (using 75 micron wet screen). In the Au-SCR22 procedure, 1000grams of the final prepared pulp of each sample is washed through a 75micron (200 mesh) screen to separate any coarse (+75 micron) material. Any +75micron material remaining on the screen is dried, weighed and analyzed in its entirety. The -75 micron fraction is dried and homogenized. Duplicate sub-samples are analyzed using the standard fire assay procedures. The gold values for both +75micron and -75micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. In this way UC can evaluate the magnitude of the coarse gold effect as demonstrated by the levels of the +75micron material. There are three additional samples from hole MP-07-101 that will undergo additional assaying to determine their respective gold content, results will be incorporated into a final assay for the mineralized section.

La Soledad prospect is a former mine that appears to have operated from the mid-1880's into the early twentieth century. The mineralized zone outcrops in an open cut at 1104 m above mean sea level and was developed on four underground levels (1100, 1043, 976 and 950 m). A long-section prepared circa-1935 (Wilkins, 1997) depicts a single 35 to 75 m wide stope extending approximately140 m down-dip. Wilkins (1997) reports an average mined historic grade in the order of 50 g/t Au and 2,300 g/t Ag. The company is seeking historic reports to better understand the nature of historic mining operations.

The technical information contained in this release has been reviewed and approved by Patrick Chance M.Sc. P.Eng. ,who is an Independent Qualified Person and consultant to UC Resources Limited. Neil D. Novak, P. Geo., has prepared and has also approved this release, Mr. Novak is a Qualified Person, and is Vice President of Exploration for UC Resources Limited.

Richard Hamelin, President UC states: "We are pleased with the recent drill results at Copalquin, our flagship property in Mexico. Despite the challenges of the project due to the logistics of location, access and weather, our exploration team has worked hard over the past few months to confirm the significance of the La Soledad epithermal gold - silver system. The drill results are displaying consistency in grade and tenor of mineralization, similar to the reported historic grade, and to the grade and widths of the initial hole drilled by UC in 2006. We are very pleased with the results of this drilling program at Copalquin, and we expect to continue with a resource definition drilling program at the La Soledad occurrence, and to initiate regional exploration on several other historically identified gold and silver occurrences on the property in late August or early September after the rains subside in this part of Mexico."

On behalf of the Board of Directors of UC Resources Limited,

Richard J. Hamelin, President/CEO/Director

For further information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • UC Resources, Ltd.
    Brian Gusko, MBA
    Assistant to the President & Director of Administration
    Toll Free: 1-800-366-8566 (Canada & USA)
    Website: www.ucresources.net