Ungava Mines Inc.
OTC Bulletin Board : UGVMF

December 14, 2007 18:26 ET

Ungava Mines Inc.: Arbitration Update

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2007) - Ungava Mines Inc. (the "Corporation") (OTCBB:UGVMF) wishes to advise that the scheduled December 10, 2007 session before the Arbitrator did not deal with the Motion to Dismiss filed by its subsidiary, Ungava Mineral Exploration Inc. ("UMEI"), which was referred to in the Corporation's press release dated December 4, 2007. Instead, it dealt with the admissibility of an Amended Statement of Claim presented by Canadian Royalties Inc. ("CRI").

After argument, it was decided that the Amended Statement of Claim would be admitted, subject to UMEI's right to submit a Motion for Particulars.

The Motion for Particulars will be heard by the Arbitrator on December 18-19, 2007. UMEI's pending Motion to Dismiss may be amended after December 19, 2007. UMEI's Motion to Dismiss is now scheduled to be heard January 8-9, 2008.

CRI's Amended Statement of Claim and the Arbitrator's Judgment on its admissibility will be annexed to the Form 6-K to be filed by the Corporation in connection with this Press Release.

FORWARD-LOOKING STATEMENTS

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 Company's results to differ materially from expectations, including but not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Company 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