SOURCE: UraniumCore Company

December 19, 2006 09:00 ET

UraniumCore to Acquire Mineral Claims in Saguache and Boulder County, Colorado

SEATTLE, WA -- (MARKET WIRE) -- December 19, 2006 -- UraniumCore Company (OTCBB: UCCO) has signed an option agreement to acquire a sixty percent interest in 88 unpatented mining claims in Colorado, from Universal Uranium Ltd. The properties consist of 42 claims in Marshall Pass, Saguache County, and 46 claims in the Jamestown area of Boulder County.

Under the terms of the option agreement, UraniumCore can acquire a 60 percent interest in the properties by:

1. Paying $100,000 in cash payments over a three-year period;

2. Issuing and delivering to Universal Uranium certificates representing 1.2 million shares in the capital of UraniumCore;

3. Incurring minimal annual expenditures on the property of:

a) US $200,000 on or before twelve months from this agreement;

b) An additional US $400,000 on or before 24 months from the date of this agreement;

c) An additional US $500,000 on or before 36 months from the date of this agreement.


In the 1950s the Lookout Uranium mine, located within the Marshall Pass claim blocks, mined 514 tons of ore grading 1.17% uranium, which produced 13,500 pounds of uranium.

The Marshall Pass Property is considered a favorable exploration target to host another mine similar to the nearby Pitch Mine, which produced 104,520 tons of ore with an average grade of 0.58% U308.


The Jamestown claims cover the past producing Fairday Uranium Mine, which produced 182,679 lbs of U3O8 with an average grade of 0.44% from a tertiary vein system. These claims are considered favorable exploration targets to discover a deposit similar to the Schwartzwalder Mine, Colorado's largest uranium mine, which produced in excess of 10.5 million pounds of U308 from six veins.

UraniumCore believes there is potential to discover additional vein systems similar to those previously discovered in the area.

UraniumCore's President, Mr. Robert Lunde, stated, "The Marshall Pass and the Jamestown property acquisitions represent the continuing commitment of UraniumCore management to add exciting exploration targets that represent significant development potential. The fact that both of these properties have produced excellent economic grade ore in the past bodes well for their potential. Management believes that by utilizing 21st century exploration techniques and technology we have a very reasonable chance of finding one or more ore bodies on the properties."

About UraniumCore

UraniumCore Company is a junior exploration company focused on the acquisition and development of high quality uranium projects. UraniumCore management is a strong believer in the fundamentals behind the improved price of uranium. Increasing worldwide demand for energy together with concerns over the effects of carbon emissions on global warming has led to a renewed focus on uranium and nuclear energy as the dual answer to these concerns.

UraniumCore now has six projects, the Coon Creek, Oak Creek, Pendleton Mesa and Suckerite properties in Gila County, Arizona, and the Jamestown and Marshall Pass properties in Colorado. While the current projects are being developed UraniumCore will continue to explore opportunities to acquire additional properties of merit.


Except for the historical and present factual information contained herein, the matters set forth in this release include statements of management's current expectations as to efficiencies, cost savings, market profile and financial strength, and the competitive ability and position of the company. Statements identified by words such as "expects," "projects," "plans," "believes," "estimates," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These and other forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the possibility that the anticipated benefits from UCCO's operations cannot be fully realized, the possibility that commodity prices, costs or difficulties related to the conduct of its business will be greater or lesser than expected, and the impact of competition and other risk factors relating to our industry will be greater than expected, all as detailed from time to time in UCCO's reports filed with the Securities and Exchange Commission. UCCO disclaims any responsibility to update these forward-looking statements.

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