Universal Uranium Ltd.
TSX VENTURE : UUL

Universal Uranium Ltd.

October 24, 2005 09:30 ET

Universal Uranium Closes Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2005) -

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Universal Uranium Ltd. (the "Company") (TSX VENTURE:UUL), is pleased to announce that it has completed the non-brokered private placement announced on September 27, 2005, for gross proceeds of CDN $1,000,999. The financing was oversubscribed and a total of 2,274,998 units at $0.44 per unit were issued. Each unit consists of one common share and one-half share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price per common share of $0.55 for a period of one year.

Proceeds from the financing will be used for the execution of a drilling program at the Company's Lisbon Valley Uranium Property in San Juan County, Utah, the acquisition of additional properties, and for general working capital.

A finder's fee of $42,946.46 cash plus 5,409 units applied in this transaction.

ON BEHALF OF THE BOARD:

Clive H. Massey, President

Standard & Poor's Listed

Issued Share Capital: 22,354,339

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

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