UC Resources Ltd.
TSX VENTURE : UC

UC Resources Ltd.
Spider Resources Inc.
TSX VENTURE : SPQ

Spider Resources Inc.

September 05, 2007 09:01 ET

UC Resources Limited and Spider Resources Inc. Intersect 4.35% Zn, 2.69% Cu, 0.35 g/t Au and 6.63 g/t Ag Over 19 Metres at VMS Project in Northern Ontario

GUADALAJARA, JALISCO, MEXICO AND VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - UC Resources Ltd. (TSX VENTURE:UC) (the "Company") and Spider Resources Inc. (TSX VENTURE:SPQ) ("Spider") are pleased to announce the receipt of assays from a diamond drilling program at the McFauld's Lake volcanic-hosted massive sulphide ("VMS") project, located in northern Ontario in the James Bay Lowlands. Hole McF-07-75 and McF-07-76 as previously announced (August 30, 2007) encountered massive sulphide mineralization containing appreciable chalcopyrite and sphalerite.

Some of the key highlights of the latest discoveries from UC's exploration program at McFauld's Lake include:

1) A total of 2,354 meters has been drilled in 7 holes, and assay results have been received for the first 4 holes.

2) Drill Hole McF-07-75: (19.02 Meters) 2.69% Cu, 4.35% Zn, 0.35 g/t Au, 6.63% Ag

3) Drill Hole McF-07-75: (7.5 Meters) 1.8% Cu, 3.3% Zn, 0.22 g/t Au, 7.47 g/t Ag

4) Drill Hole McF-04-57 (as earlier reported) intersected 8% Cu over 18 meters.

5) To date, 10 isolated VMS occurrences have been identified and drill tested on the project, two of which have undergone detailed drilling.

6) The company is confident with the project. UC is continuing to explore this new VMS camp by initially concentrating its efforts on the McFaulds #3 and #1 occurrences, and will be looking at completing additional drilling on the other occurrences as the program progresses, through year two, three and four of the agreement.

States Mr. Hamelin for UC: "We are watching very closely the recent discovery by Noront Resources, this discovery will undoubtedly open up the McFaulds area, which we maintain has the potential to host a major mine development project. We have recently received the initial assays and are excited that these results are well in line with the historical results of Spider and KWG. These results will be incorporated into an estimate of resource potential report for the two massive sulphide zones that have already undergone historical drilling; we will be including the current drilling. The resource will be updated as the drill program progresses over the remainder of the field season."

McFaulds Drill Program Initial Results

Drill hole McF-07-75 was set up on line 8+25 N and the initial dip was -64 degrees for a total length of 192 meters. The hole was designed to overcut historic 2004 hole McF-04-41 (6.49% Cu and 3.45% Zn over 8 meters) and infill an area in the mineralized zone that had not been previously tested, as required for an update on the resource estimate for this occurrence. The main mineralized zone was encountered between 164.28 meters and 183.3 meters (19.02 meters). This entire section averaged 0.35 g/t Au, 6.63 g/t Ag, 2.69% Cu and 4.35% Zn over 19.02 meters. Assuming a dip of -75 degrees to the northeast for the McFaulds # 3 occurrence, the apparent true width for this intersection is estimated at 11 meters.

Drill hole McF-07-76 was started at the same set up as hole McF-07-75, however the dip was decreased to -49 degrees, thus testing another area as required for resource estimate update. The hole was completed a total core length of 178 meters. The main mineralized zone was encountered between 154 meters and 161.5 meters (7.5 meters), previously reported as from 152.66 meters and 160.13 meters (7.47 meters), however there was a drill hole measurement error caught during detail logging and sampling. This entire section averaged 0.22 g/t Au, 7.47 g/t Ag, 1.8% Cu and 3.3% Zn over 7.5 meters. In this hole copper values were higher near the top of the mineralized zone where from 154 meters to 159.21 meters (5.21 meters) the copper value average 2.49%. Gradationally below this, from 157 meters to 161.5 meters the zinc value averaged 4.64%. Assuming a dip of -75 degrees to the northeast for the McFaulds #3 occurrence, the apparent true width for this intersection is estimated at 6 meters.

Drill hole McF-07-73 was set up on section 7+75 E (Grid "C" McFaulds #3 occurrence) and drilled grid south at -69 degrees for 374 meters. The main mineralized zone was encountered between 329 meters and 345.2 meters, consisting of heavily chloritized magnetite - pyrite zone, with trace sphalerite (zinc sulphide) and trace chalcopyrite (copper sulphide), only anomalous assay values of zinc and copper were received. This hole, although it entered the VMS mineralized envelope, will help to delineate the limits of this VMS occurrence in this portion of the body.

As reported earlier, drill hole McF-07-74 was set up on Line 8+00 E at 2+92 N with an initial dip of 80 degrees, designed to undercut Hole McF-04-57 that had intersected 8% Cu over 18 meters, as well as hole McF-04-29 (4.39 % Cu over 2.5m). The drilling of hole McF-07-74 encountered problems early, at the interface between the overlying Paleozoic (limestone and sandstone) with the volcanic rocks, the hole flattened from 80 degrees to 43 degrees, causing this hole to be abandoned at 154 meters. There were no samples selected from this hole.

A total of 2,354 meters has been drilled in 7 holes, results have been received for the first 4 holes only. The on-site field aspects of the project were overseen by Dr. Howard Lahti P.Geo., an Independent Qualified Person and Mike Kilbourne, both of which are in the employ of Billiken Management Services Inc. of Toronto. Neil Novak P.Geo., President of Spider Resources Inc., Vice President of UC Resources Ltd., is fulfilling the role of Qualified Person on behalf of Spider and UC and was responsible for the preparation and final review of this news release.

All samples reported upon herein were selected by either Howard Lahti or Mike Kilbourne and were cut in half by diamond core saw. Individual samples were labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags and then placed into plastic pails for shipping. Plastic pails were secured using tie locks and delivered via bonded carrier to ALS Chemex sample preparation laboratory in Thunder Bay, Ontario. All samples were then crushed and pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver B.C. for analysis, remaining coarse reject portion of the samples remain in storage at the ALS Chemex storage facility in Thunder Bay. In Vancouver, the samples underwent multi-element analysis using ALS Chemex assay procedure ME-MS61, when samples received over-limit values they underwent further analysis using ALS Chemex assay procedure Cu-OG62 (for copper) and Zn-OG62 (for zinc). For gold analysis, all samples underwent Au-ICP21 analysis. The reader is referred to www.alschemex.com for details of analytical procedures.

The current program is funded entirely by UC Resources Limited ("UC"), in compliance with their funding obligation for the project. UC has an option to earn-in up to a 55% undivided interest in the McFauld's Lake project, which is currently owned as to an undivided 50% interest, by each of Spider and KWG, as per the LOI signed in early March 2007. UC is the operator of the property during the term of their option.

The McFauld's Lake VMS project was initially discovered in 2002, while Spider, KWG and De Beers Canada Exploration Inc. were exploring the project area in joint venture for kimberlites. De Beers holds a 1.5% net smelter royalty on the project, 0.5% of which can be purchased from De Beers by Spider and KWG for $1.5 million. To date, 10 isolated VMS occurrences have been identified and drill tested on the project, two of which (McFauld's #1 and #3) have undergone detail drilling. The McFaulds Lake area is also host to other VMS occurrences, discovered by Probe Mines Ltd. and MacDonald Mining and Exploration, as well as nickel bearing chromitite with platinum group metals in a layered peridotite geological setting as discovered by Spider, KWG and Freeewest in early 2006, and the new reported occurrence of chalcopyrite and pyrrhotite in a cumulate peridotite geological setting, recently discovered by Noront Resources Ltd. (There have been no assay results from the recent Noront discovery, so there is no guarantee that there will be any results of economic significance).

UC is continuing to explore this new VMS camp by initially concentrating their efforts on the McFaulds #3 and #1 occurrences, then they will be looking at completing additional exploration on the other occurrences as the program progresses, through year two, three and four of the agreement. States Mr. Hamelin for UC: "We are watching very closely the recent discovery by Noront Resources, this discovery will undoubtedly open up the McFaulds area, which we maintain has the potential to host a major mine development project. We have recently received the initial assays and are excited, that these results are well in line with the historical results of Spider and KWG. These results will be incorporated into an estimate of resource potential report for the two massive sulphide zones that have already undergone historical drilling, we will be including the current drilling. The resource will be updated as the drill program progresses over the remainder of the field season."

This press release has been prepared by management of UC Resources Ltd. and has been approved for dissemination by Neil Novak P.Geo. of Cambridge, Ontario, a Qualified Person under Canadian Securities guidelines, in his capacity as Vice President for UC Resources Ltd.

On behalf of the board of directors,

Richard Hamelin, President and CEO

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.

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