Undur Tolgoi Minerals Inc.

Undur Tolgoi Minerals Inc.

March 09, 2012 12:00 ET

UTM Announces Winter Work Program Progress Report

ULAANBAATAR, MONGOLIA--(Marketwire - March 9, 2012) - Undur Tolgoi Minerals Inc. ("UTM" or the "Company")(CNSX:UTM) is pleased to report that its previously announced winter work program is well underway. Our survey crews have now completed over 50% of the sampling program on the Undur Tolgoi licensed property. In addition, the magnetic and gravity work have been completed. UTM anticipates finishing all of the planned soil sampling, magnetic and gravity work within the next two weeks.

James Passin, UTM's Chairman commented, "It is gratifying that in spite of the weather delays we are ahead of schedule, which is a real tribute to our team."

The Company will be one of the highlighted sponsors at the Mines and Money Conference held in Hong Kong from March 19, 2012 to March 23, 2012. Mr. Passin, UTM's chairman, will be speaking at the conference on Friday March 23, 2012.

UTM is a mineral exploration company entirely focused on Mongolia, and which through its wholly owned subsidiaries, owns 100% of the "Undur Tolgoi" mineral exploration license. This license consists of 9,620 hectares of property situated 100 kilometers from the world-scale "Oyu Tolgoi" copper and gold mine. In addition, UTM's management is actively reviewing potential acquisitions and strategic industry alliances.

Disclaimer for Forward-Looking Information

Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.

Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Contact Information

  • Don Padgett
    President and CEO
    604 689-1515 ext 104

    Sabino Di Paola
    Chief Financial Officer