Universal Uranium Ltd.
TSX VENTURE : UUL

Universal Uranium Ltd.

February 27, 2008 16:33 ET

Universal Uranium Increases Non-Brokered Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2008) - Universal Uranium Ltd. (TSX VENTURE:UUL) (the "Company") announces an amendment to its private placement announced on February 25, 2008. The Company will be increasing its financing, and will be proceeding with a private placement of up to 2.3 million units ("Units") at a price of $0.35 per Unit for gross proceeds of $805,000.

All other terms and conditions previously announced remain unchanged. Each Unit will consist of one common share and one-half of a share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.40 in the first year and $0.45 in the second year.

The private placement is subject to TSX Venture Exchange acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.

The net proceeds of the private placement will be added to working capital.

A finder's fee will apply to this transaction in the form of 5% in cash and 5% in warrants, in accordance with the policies of the TSX Venture Exchange (the "Exchange").

The Company also wishes to record a correction to its press release announcing the appointment of Richard R. Walters as an additional director of the Company. From 1994 to 2000, Mr. Walters was a director, COO and President of Yamana Resources Inc. (now Yamana Gold Inc.), not CEO as previously reported in its press release of February 20, 2008.

Universal Uranium Ltd. (TSX VENTURE:UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The Company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.

ON BEHALF OF THE BOARD:

Ronald Atlas, Chairman of the Board

The Company seeks Safe Harbour.

Standard & Poor's Listed

Issued Share Capital: 41,815,069

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

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