UC Resources Ltd.
TSX VENTURE : UC

UC Resources Ltd.

July 28, 2011 15:16 ET

UC Resources Starts Drilling Program on McFaulds Lake Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2011) - UC Resources Ltd. (TSX VENTURE:UC), as operator, is pleased to announce that it has mobilized a diamond drill to its McFaulds Lake property and has begun drilling the first of two deep holes of an 1600 metre program. The drill targets are located in an unexplored portion of the property where previous airborne surveys did not detect any electro-magnetic anomalies, even though the interpreted underlying geology is favourable with respect to a number of mineral deposit types discovered in the "Ring of Fire" to date.

The drill program is based on a recently completed airborne gravity and magnetics survey conducted by Fugro Airborne Surveys and interpreted by Scott Hogg & Associates, plus a ground based gravity survey conducted this spring. Gravity highs coincidental with magnetic anomalies are the drilling targets. Visual results will be released if warranted during the course of the program and assays completed as soon as possible.

UC Resources Ltd. has earned a 55% interest in the property from an option agreement with KWG Resources Inc. (TSX VENTURE:KWG) and Spider Resources Inc., which is a 100% owned subsidiary of Cliffs Natural Resources Inc. This project is a joint venture between these parties. Project management for this program is being conducted and overseen by M.J. (Moe) Lavigne, P.Geo., Vice President Exploration and Development, KWG Resources Inc., with support from Webequie Logistics.

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, plus an explorer and producer of precious metals in Mexico.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

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 property 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

  • UC Resources Ltd. - Vancouver Head Office
    Damien Lowry
    Toll Free: 1-800-366-8566 (Canada & USA)
    www.ucresources.net