Ungava Minerals Corp.

September 07, 2007 15:32 ET

Ungava Minerals Corp.: Quebec Litigation Update

MONTREAL, QUEBEC--(Marketwire - Sept. 7, 2007) - Ungava Minerals Corp (the "Corporation") (PINK SHEETS:UGVAF) announced today that Canadian Royalties Inc. ("CRI") has recently issued a Re-amended Motion to Institute Proceedings in the Quebec action against the Corporation, its subsidiary Ungava Mineral Exploration Inc. and certain of their past and present officers and directors. The action is still at a preliminary stage and no Statements of Defense have been filed.

In the Re-amended Motion, the text of which will be a schedule to the Material Change Report to be filed in relation to this Press Release, CRI includes allegations regarding recent developments in other pending litigation, such as the Decision regarding res judicata and Mullan and Durham reported in the Corporation's May 25, 2007 Press Release, which decision is being appealed. The Re-amended Motion also includes allegations relating to the action in Ontario against James Mungall and the University of Toronto to which the Plaintiffs wish to join Michael Lesher, Falconbridge Limited and others as additional defendants.

CRI has also elected to delete allegations previously found in paragraphs 59, 102 and 103.

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

Issued and Outstanding: 28,263,276 Common Shares

Contact Information

  • Ungava Minerals Corp.
    Dr. Allan Miller
    (613) 231-5656