Universal Uranium Ltd.
TSX VENTURE : UUL

Universal Uranium Ltd.

August 23, 2007 11:13 ET

Universal Uranium Ltd. Gives Overview of Short-Term Investments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2007) - Universal Uranium Ltd. (TSX VENTURE:UUL) had invested, on recommendation of its investment advisor, $1.45 million (CDN) in short-term triple AAA-rated asset-backed commercial paper.

There is currently a sixty day hold on the funds and it has been confirmed that the trust is a subsidiary of Coventree Capital Group Inc. Coventree Capital announced on August 13th 2007, as a result of recent disruptions in the global credit markets, that it was unable to meet its repayment obligations until its liquidity providers finance such repayments.

Universal Uranium's operations have not been impacted, and the company advises that it has sufficient cash available to maintain all of its work programs while this matter is resolved.

Universal Uranium Ltd. 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:

Clive H. Massey, President

Standard & Poor's Listed

Issued Share Capital: 38,933,403

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