United Mining Group, Inc.
CNSX : UMG
MUN : UM8

United Mining Group, Inc.

August 31, 2010 09:00 ET

United Mining Group Receives Conditional Approval for TSX Listing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2010) - United Mining Group, Inc. (the "Company" or "UMG"), (CNSX:UMG)(MUN:UM8) is pleased to announce that the Toronto Stock Exchange (TSX) has conditionally approved the Company's common shares for listing on the TSX. The TSX has reserved the stock trading symbol "UMG" in anticipation of the commencement of trading of the Company's shares. 

Listing of the Company's common shares on the TSX is subject to the Company providing evidence of meeting all TSX requirements, including receipt by the TSX of certain required documentation. The Company will make a further announcement once the TSX has issued a bulletin confirming the date on which trading will begin. Once listed on the TSX, the Company will delist from the Canadian National Stock Exchange (CNSX).

Greg Stewart, President and CEO of UMG, stated, "The TSX is one of the most active markets in the world for resource companies and particularly precious metal producers. Listing on the TSX offers our shareholders increased exposure to the global mining investment community and provides the Company with access to capital and enhanced liquidity."

About United Mining Group

United Mining Group is a profitable, vertically integrated mining company with operations in Idaho, USA. The Company offers a full suite of mining services including contract mining to silver miners in the district. The Company owns its own custom welding and fabrication shop allowing it to repair/rebuild equipment for its own use and for outside mining companies.

The Company is currently earning, through development and operations, an 80% interest in the Crescent Silver Mine adjacent to the Sunshine Silver Mine in the Silver Valley. The Crescent Mine has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010). UMG currently has an indicated silver resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred silver resources of 4.1 million (211,000 tons grading 19.5 opt silver).

UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at Crescent and through the acquisition of additional silver interests.

For more information about the Company, please visit: www.unitedmininggroup.com.

On behalf of the board of directors of United Mining Group, Inc.,

Greg Stewart, President, CEO and Chairman

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release include that we will list our stock on the TSX, delist from CNSX, and that a TSX listing should provide increased exposure to the global mining investment community, access to capital and enhanced liquidity. Factors which could prevent these from occurring include that we cannot meet TSX listing requirements or that TSX listing does not result in expected benefits.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. 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.

The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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