URSA Major Minerals Incorporated
TSX : UMJ

URSA Major Minerals Incorporated

December 18, 2006 10:47 ET

URSA Major Minerals Incorporated Plans $1,000,000 Flow-Through Private Placement Financing at $0.95 Share With the MineralFields Group

TORONTO, ONTARIO--(CCNMatthews - Dec. 18, 2006) -

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 please to announce that it intends to complete a $1,000,000 flow through private placement financing with the MineralFields Group for 1,052,632 flow-through shares at a price of $0.95 per share. On closing Limited Market Dealer Group will obtain a cash finder's fee of 6 % and non-flow-through finder's fee options to purchase shares at $0.95 for 12 months equal to 6 % of the number of shares subscribed for. The financing is subject to regulatory approval.

The gross proceeds of the flow-through common shares will be used for exploration on URSA Major's Shakespeare project and other properties, located in the Sudbury area, Ontario.

About MineralFields

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Group is available at www.mineralfields.com.

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

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)
    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