URSA Major Minerals Incorporated
TSX : UMJ

URSA Major Minerals Incorporated

July 11, 2007 11:14 ET

URSA Major Minerals' 50,000 Tonne Bulk Sample Test Mining Program Underway at Shakespeare Nickel Project, Sudbury Area, Ontario

TORONTO, ONTARIO--(Marketwire - July 11, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.

URSA Major Minerals Incorporated (URSA Major)(TSX VENTURE:UMJ) is pleased to announce that the 50,000 tonne bulk sample test mining program is underway at the Company's Shakespeare nickel project, located 70 kilometres west of Sudbury, Ontario. Drilling of ore in the bulk sample ramp and pit with two track drills was initiated on June 28 and the initial blast in ore took place on July 10, 2007.

As previously reported, URSA Major contracted William Day Construction Limited (Day Construction) to carry out the excavation, crushing and haulage of the bulk ore sample from the Shakespeare nickel deposit. Following the completion of an access road and site preparation in June, Day Construction has initiated the mobilization of mining equipment to the Shakespeare deposit. The drilling and blasting of the bulk sample ramp and excavation is scheduled to take approximately two weeks. Truck haulage of Shakespeare ore to Xstrata Nickel's Strathcona mill for processing is planned to start in approximately one week.

The bulk sample will enable URSA Major to test mining conditions and verify reserve grades and metallurgical characteristics for larger scale mining operations. Although not intended as a commercial scale operation, URSA Major expects that the bulk sample will provide significant cash flow to the Company.

URSA Major completed a positive full feasibility study on the Shakespeare Project in 2006. The feasibility study is available on the Company's website at www.ursamajorminerals.com. The Shakespeare deposit contains a diluted Probable Reserve of 11,226,000 tonnes grading 0.33% nickel, 0.35% copper, 0.02% cobalt, and 0.9 g /t precious metals. URSA Major is in the process of permitting two open pits (Shakespeare East and West), a mill to process up to 4,500 tonnes per day, a co-disposal waste management facility and related site infrastructure.

National Instrument 43-101

Mr. Ian Ward, P.Eng. of Micon is the qualified person for the Shakespeare feasibility study.

This release was prepared by management of the Company who takes full responsibility for its contents.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.

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

Contact Information

  • URSA Major Minerals Incorporated
    Richard Sutcliffe, Ph.D., P.Geo.
    President & CEO
    (416) 864-0615
    (416) 864-0620 (FAX)
    Email: info@ursamajorminerals.com
    or
    URSA Major Minerals Incorporated
    Chris Chadder, C.A.
    CFO
    (416) 864-0615
    (416) 864-0620 (FAX)
    Email: info@ursamajorminerals.com
    Website: www.ursamajorminerals.com
    or
    URSA Major Minerals Incorporated
    Gus Garisto
    Investor Relations
    Cell: (416) 805-3106