URSA Major Minerals Incorporated

URSA Major Minerals Incorporated

March 21, 2007 10:12 ET

URSA Major Minerals Engages Day Construction for Mining, Crushing and Haulage of 50,000 Tonne Bulk Sample at Shakespeare Nickel Project, Sudbury Area, Ontario

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) -


URSA Major Minerals Incorporated (URSA Major) (TSX VENTURE:UMJ) is pleased to announce that William Day Construction Limited (Day Construction) has been contracted to carry out the excavation, crushing and haulage of a 50,000 tonne bulk ore sample from the Shakespeare nickel deposit, located 70 km west of Sudbury, Ontario. Day Construction will haul the ore from URSA Major's Shakespeare project to Xstrata Nickel's Strathcona mill for processing.

URSA Major is in the process of completing road upgrades to the Shakespeare site to facilitate truck access for hauling the bulk sample. The company currently has regulatory approvals for a 10,000 tonne bulk sample and has applied for an amendment for a 50,000 tonne sample. The company will proceed with mining as soon as the road upgrade is completed and regulatory approvals for the 50,000 tonne sample are obtained from the Ontario Ministry of Northern Development and Mines. URSA Major plans to complete the excavation and haulage in the second quarter of 2007.

Richard Sutcliffe, CEO of URSA Major stated "We look forward to this significant development phase at the Shakespeare nickel project. The bulk sample will provide us with an important test of the mining characteristics, reserve grade and metallurgical recoveries at a commercial scale. This will further enable us to advance our objectives of developing a 4,500 tpd mine and mill at the Shakespeare deposit. The bulk sample will also provide initial cash flow from the project and should the bulk sample meet expectations, our agreement with Xstrata Nickel provides for on going ore shipments to be processed at the Strathcona mill."

Please visit our website at www.ursamajorminerals.com for recent pictures of the road construction and site preparation for the bulk sample excavation at the Shakespeare project.

Address: 8 King Street East, Suite #1300, Toronto, Ontario, Canada M5C 1B5

Symbol & Exchange: UMJ - TSX Venture Exchange (TSXV)

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