Uranium Bay Resources Inc.

Uranium Bay Resources Inc.

April 09, 2009 14:47 ET

Uranium Names Investor Mr. Ali Abbas Al-Hazeem to Its Board of Directors

MONTREAL, QUEBEC--(Marketwire - April 9, 2009) - Uranium Bay Resources Inc. (TSX VENTURE:UBR) is pleased to announce that Dubai based investor, Mr. Ali Abbas Al-Hazeem, has accepted to join the Board of Directors of Uranium Bay Resources Inc., as an independent director, effective April 7, 2009.

Mr. Al-Hazeem, an active investor in the Canadian markets, became over the last twelve months, a significant individual shareholder of the Corporation.

Mr. Al-Hazeem is the Founder and Chairman of Armarium Commodities DMCC, a commodities brokerage and trading firm headquartered in Dubai (United Arab Emirates). He is the vice-chairman and co-founder of Code Red advertising (Dubai). He is a current Director and co-owner of Intercoil International Co. LLC, an industrial company based in Dubai. Mr. Al-Hazeem is also a former director of the Kuwait Clearing Company S.A.K., Kuwait Real Estate Bank and the Financial Group of Kuwait (Asset Management and Investment Banking Firm). He was also a banker with Merrill Lynch International and with the Central Bank of Kuwait.

Mr. Al-Hazeem is fluent in Arabic, English and French. He received his MBA in financial studies from the University of Nottingham in the United Kingdom. He holds a Bachelor of Science in International Business Administration from the American University of Switzerland; furthermore he was an Adjunct Lecturer in finance at the American University of Dubai back in 1999. He was previously registered with the NASD, NYSE, CBOE and the Philadelphia Exchange (PHLX) as a general securities representative. Additionally, he was registered with the NFA and the CFTC as a commodities and futures representative.

Mr. Al-Hazeem is also the Chairman of Orex Exploration Inc. (TSX VENTURE:ORE), a director in Odyssey Petroleum Corp. (TSX VENTURE:ODE); and a former director of Pershimco Resources Inc. The nomination is subject to standard regulatory approval.

Mr. Bernard Tourillon, UBR's President and CEO, comments: "Uranium Bay is fortunate to have been able to attract to its Board of Directors an active investors of Mr. Al-Hazeem's caliber".

"UBR plans of going forward have not changed since our previous release, upon receipt of the complete technical report, now being finalized, management and Board will work diligently to implement a strategy to insure the long-term development of the UUP project."

Mr. Ali Abbas Al-Hazeem comments: "I am delighted to join the board and I look forward to contributing to the development of UBR. Our focus will be on building up sufficient financial resources to continue our drilling programs and acquire new properties. We should work hard to maximize shareholders value and protect their interests."

About Uranium Bay Resources Inc.

Uranium Bay Resources Inc. is a Canadian based junior resource and exploration company trading under the symbol UBR on the TSX Venture Exchange. The Company has 82,374,367 shares outstanding. The Company holds 100% of the 314 km2 Uskawanis Uranium property located just south of the Opinaca reservoir.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements reflecting Uranium Bay objectives, estimates, expectations and the impact of acquisitions on Uranium Bay's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Uranium Bay's projections or expectations.

Contact Information

  • Uranium Bay Resources Inc.
    Bernard J. Tourillon
    President and CEO
    Uranium Bay Resources Inc.
    Guy Girard
    VP and CFO
    Toll-free 1-888-666-3431