URSA Major Minerals Incorporated

URSA Major Minerals Incorporated

September 02, 2010 09:24 ET

URSA Major Minerals Announces New Management Appointments

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2010) -


URSA Major Minerals Incorporated ("URSA Major") (TSX:UMJ) is pleased to announce the appointment of Mr. Eric Loch as Vice President, Mine Operations and Projects. Mr. Loch is a Project Management Professional with over 15 years of experience in managing mining and construction projects globally. Mr. Loch has been employed by Iron Ore Company of Canada (IOC), De Beers, DRA Americas Inc. and Shell Africa and has experience in the evaluation, design and construction of mine projects. Mr. Loch has worked with URSA Major since 2007 and most recently has managed the Company's operations at the Shakespeare Mine.

The Company is also pleased to announce that Mr. Victor Hugo has been appointed Financial Controller. Mr. Hugo is an accounting professional with over 15 years of international experience, particularly in the mining and manufacturing sectors. Mr. Hugo has worked for Avgold Limited, Avmin Limited (Coal Division), and Bosal Africa Limited in a financial management capacity and was responsible for accounting, financial budgeting and reporting.

Richard Sutcliffe, President and CEO commented, "We are extremely pleased to strengthen our team with the appointments of Eric Loch and Vic Hugo. Eric has done an excellent job of bringing the Shakespeare Mine into commercial production over the past year. Vic brings considerable accounting experience in the mining sector and will work closely with both the operations and corporate office management."

The Company also announces that Mr. Chris Chadder has resigned as CFO to pursue other opportunities. We would like to take this opportunity to thank Mr. Chadder for his contributions to the initial development of the Company and its mine projects. Mr. Hugo will serve as Interim CFO while the Company evaluates requirements for management of operating budgets, metals production and risks, financial reporting and compliance, and business development.

URSA Major is a Canadian mining company with two nickel sulphide projects containing significant NI43-101 compliant nickel and copper reserves and resources. The Company is focused on demonstrating profitable operations at the Shakespeare Mine and growing its nickel, copper and platinum group metal (PGM) deposits through exploration and development, primarily in Ontario, Canada.

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

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