Ucore Uranium Inc.
TSX VENTURE : UCU

Ucore Uranium Inc.

December 21, 2006 14:46 ET

Ucore Uranium Announces Grant of Stock Options to an Officer of the Company

HALIFAX, NOVA SCOTIA--(CCNMatthews - Dec. 21, 2006) - NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES

Ucore Uranium Inc. (the "Company") (TSX VENTURE:UCU), has granted an incentive stock option to an Officer of the Company to purchase up to 750,000 shares of the Company at an exercise price of $1.04 per share, for a period of up to five years. The terms of the option provide for 50% of the option to vest over a three year period and 16.67% of the option to vest based on the 30-day average of the closing market price of the Company's shares exceeding each of $3.00, $4.00 and $5.00 per share. The option is subject to regulatory approval.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press 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 exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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

Contact Information

  • Ucore Uranium Inc.
    Mr. Daniel Whittaker
    President and Chief Executive Officer
    902-482-5214
    902-492-0197 (FAX)