URSA Major Minerals Incorporated
TSX : UMJ

URSA Major Minerals Incorporated

April 16, 2008 14:05 ET

URSA Major Minerals Reports Positive Open-Pit In-Fill Drill Results at Shakespeare Nickel Deposit, Sudbury Area, Ontario

TORONTO, ONTARIO--(Marketwire - April 16, 2008) -

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:UMJ) is pleased to announce positive results from a 13 hole (991 meter) in-fill drilling program. The program was recently completed to finalize the design of a starter-pit at the Shakespeare Nickel Deposit, located 70 kilometers west of Sudbury, Ontario.

Assay results for holes U3-99 to U3-111 are presented in the following table. The drill holes were designed to increase the confidence level of the existing reserve estimate prior to proceeding with mining an approximate 500,000 tonne starter pit at the Shakespeare West deposit. URSA Major plans to mine on a continuous basis at a minimum rate of 500 tonnes per day from the Shakespeare West pit starting in June 2008.



----------------------------------------------------------------------------
DDH Location Azim. & From: To: Length: Ni Cu Co
(UTM) Incl. (m) (m) (m) (%) (%) (%)
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U3-99 5133338N/436074E vertical 1.90 22.00 20.10 .33 .36 .02
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327
degrees/
-74
U3-100 5133324N/436083E degrees 12.07 19.07 7.00 .21 .24 .01
----------------------------------------------------------------------------
U3-101 5133351N/436066E vertical 1.29 56.60 55.31 .33 .40 .02
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U3-102 5133337N/436052E vertical 0.92 42.20 41.28 .36 .39 .02
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U3-103 5133333N/436059E vertical 1.64 36.94 35.30 .34 .38 .02
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U3-104 5133306N/436001E vertical 1.37 38.43 37.06 .41 .48 .03
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U3-105 5133297N/436014E vertical 2.26 36.26 34.00 .30 .38 .02
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U3-106 5133319N/436026E vertical 1.42 46.42 45.00 .38 .43 .02
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U3-107 5133353N/436083E vertical 1.40 38.09 36.69 .29 .34 .02
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U3-108 5133361N/436091E vertical 1.09 48.21 47.12 .32 .36 .02
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U3-109 5133315N/436069E vertical 1.30 18.10 16.80 .31 .39 .02
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U3-110 5133303N/436035E vertical 1.88 18.5 16.62 .35 .42 .02
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U3-111 5133328N/436042E vertical 1.50 53.10 51.60 .37 .42 .02
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"The weighted average grades of .34% nickel and .39% copper in these intersections are just above the average reserve grades" stated Richard Sutcliffe, URSA Major's CEO, "These holes demonstrate the consistency of the Shakespeare mineralization and the fact that mineralization extends from surface to depth."

URSA Major is an emerging mining company that is focused on growth through nickel, copper, and precious metal development and exploration, primarily in Ontario, Canada. The Shakespeare Nickel Project is in a pre-production mining stage. The Shakespeare deposit contains an open-pit, 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 has 32.2 million shares outstanding and trades on the Toronto Stock Exchange under the symbol UMJ.

National Instrument 43-101 - Drill core was split and samples with a nominal 1.0 meter length were analyzed at SGS-XRAL Laboratories, Don Mills, Ontario ICP with multi-acid digestion for copper, nickel, and cobalt. Mr. Harold Tracanelli, P. Geo., supervised the exploration program and is the Qualified Person under National Instrument 43-101. The in-fill drill holes were not analyzed for precious metals. Mr. Ian Ward, P.Eng. of Micon International Ltd. 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 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
    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)
    or
    URSA Major Minerals Incorporated
    Gus Garisto
    Investor Relations
    (416) 805-3106
    Email: info@ursamajorminerals.com
    Website: www.ursamajorminerals.com