SOURCE: UC Resources Ltd.

November 23, 2005 13:25 ET

UC Resources Ltd. Announces Non Brokered Private Placement

VANCOUVER, BC -- (MARKET WIRE) -- November 23, 2005 -- UC Resources Ltd. (TSX-V: UC) (the "Company") has arranged a non-brokered private placement of up to 5,000,000 units at a price of Cdn. $0.10 per unit (the "Units").

Each Unit will consist of one common share of the Company and one common share purchase warrant, each warrant ("Warrant") entitling the holder to purchase one common share of the Company at an exercise price of Cdn. $0.125 per share for a period of 18 months from the closing date of the private placement. The proceeds of the private placement will be used for acquisitions, debt settlement, exploration and working capital.

The Company has recently commenced phase 2 of its exploration plans and has made several significant corporate achievements of recent and is aggressively moving ahead with its 100% interest in the 19,269 hectare (192 sq km's) historically productive gold and silver Copalquin Project located within the Sierra Madre mineralogical belt in the State of Durango, Mexico. UC Resources Ltd. is a Canadian exploration and development company with offices in Vancouver, B.C., Canada and Torreon, Coahuila Mexico

On behalf of the board of directors,

Richard J. Hamelin - President/CEO/Director
UC Resources Ltd.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Contact Information

  • For further information contact:

    William (Will) S. Elston
    Vice President of Corporate Development
    Tel: (604) 681-7265
    Toll free: 1 (800) 366-8566 (Canada & USA)
    E-mail: Email Contact
    Website: www.ucresources.net