Ungava Mines Inc.
OTC Bulletin Board : UGVMF

December 04, 2007 19:21 ET

Ungava Mines Inc.: Arbitration Update

MONTREAL, QUEBEC--(Marketwire - Dec. 4, 2007) - Ungava Mines Inc. (the "Corporation") (OTCBB:UGVMF) announces that an Arbitrator has been selected to hear its dispute with Canadian Royalties Inc., and that it has recently received the Claim from Canadian Royalties Inc. in the matter. The Corporation has responded by delivering a Motion to Dismiss. Both the Claim and the Motion will be annexed to a Form 6-K that will be filed by the Corporation after this Press Release has been disseminated.

The Motion to Dismiss asserts grounds on which the Arbitrator is asked to find the Claim illfounded on its face, and therefore that the Arbitrator has no jurisdiction to hear the Claim. The Motion will be heard on December 10, 2007. If the Motion is not successful, the Corporation will file a Defence to the Claim after examining witnesses, all in accordance with the timetable for the arbitration established by the Arbitrator's Decision, which will also be annexed to the Form 6-K to be filed by the Corporation. A two week trial is scheduled to commence in April, 2008.


Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, which may cause the Corporation's results to differ materially from expectations, including but not limited to economic, competitive, governmental and technological factors affecting the Corporation's operations, markets, products and prices and other factors discussed in the Corporation's various filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Corporation disclaims any intent or obligation to update these forward-looking statements.

Contact Information

  • Ungava Mines Inc.
    Dr. Allan Miller
    President and CEO
    (613) 231-5656