Uc Resources Ltd.

Published : February 28th, 2008

McFaulds Lake Update

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UC Resources McFaulds Lake Update

February 27, 2008, UC Resources Ltd.: Vancouver, British Columbia:  Trading Symbol: TSXV:UC.  UC Resources Ltd. ("UC" or "the Company") is pleased to provide the following updates.

UC Resources Ltd. has advised its partners, Spider Resources Inc. and KWG Resources Inc. that it will exercise its right to opt into year two of the McFaulds Lake option agreement in the James Bay Lowlands region of northern Ontario. As per the binding LOI between UC and Spider, UC is required to incur exploration expenditures of at least an additional $1 million on or before the second anniversary date of March 6, 2009, in order to earn an additional 15% vested interest in the Property, bringing UC's interest level to 25%.To date $500,000 of the $1 million second tranche has been spent. Should UC exercise its full commitment to the McFaulds Lake Project Property Joint Venture Agreement it will earn-in up to a 55% undivided interest in the property.

Further to news release dated January 17, 2008, UC is pleased to announce that a request has been given to Billiken Management to commence line cutting and ground geophysics as soon as possible on its first high priority identified target to be followed by ground geophysics work. The Aerotem2 identified target has been identified as being "on trend" with the Noront Eagle Two discovery and is located to the southwest on the property known as McFaulds West. All field operations are being conducted by Billiken Management on behalf of UC Resources and the company is presently reviewing and prioritizing numerous additional high priority targets that will require field work.

As announced in the January 17, 2008 press release, the LaYesca mill is being totally revamped after a major re-design. Initial site clearing and dismantling of the existing mill has begun, and assembly of the newly designed mill will begin in earnest in mid-March. To date a tank construction contractor, environmental assessment firm, electrical installation company, and engineering firms have been contracted and begun work. It's expected the company will start mill testing and training personnel in June, 2008. The company remains very optimistic that La Yesca has the potential to be a very profitable venture and certainly is a key component in the strategic development of UC Resources Mexican assets.

After a review of all of UC's exploration properties and prioritization of commitments, UC has decided not to continue with the La Dura LOI agreement.

UC Resources is an active explorer of base metals in the McFauld's Lake area, and an explorer and near term producer of precious metals in Mexico.

On behalf of the Board,

Jim Voisin

President & CEO
UC Resources Ltd.

For further information: 
Brian Gusko, CFO
Contact Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Toll Free: 1-800-366-8566 (Canada & USA)                  

Website: www.ucresources.net

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements".  All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.  Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.  Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.  For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.

 

 

February 27, 2008 

WHAT'S NEW

Jan. 17, 2008:
UC Resources Commences McFaulds' Lake Winter Exploration Program
+ View More

Dec 20, 2007:
UC Resources Announces Granting of Options
+ View More

Dec 19, 2007:
UC Resources Shareholders Update
+ View More

 

 

 

 

 

Uc Resources Ltd.

PRODUCER
CODE : UC.V
ISIN : CA90263T1093
CUSIP : 90263T
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Uc Res. is a gold and silver producing company based in Canada.

Uc Res. holds various exploration projects in Mexico.

Its main assets in production are MAR and LA YESCA in Mexico and its main exploration properties are MC FAULD'S LAKE in Canada and COPALQUIN in Mexico.

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In the News and Medias of Uc Resources Ltd.
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Option Grants of Uc Resources Ltd.
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Project news of Uc Resources Ltd.
8/20/2012(La Yesca)Completes Upgrade on La Yesca Mill and Discovers Hidden Pros...
7/30/2012to Commence Drilling Program at the Mirador and Las Cuatas M...
2/11/2012Interview of Interest: Eric Sprott Comments on UC Resources ...
2/7/2012Mill Update and Invests in Sprott Silver Trust
1/6/2012Receives TSX Venture Exchange Final Approval and Closes McFa...
8/29/2011Announces Drilling Update
3/15/2011(La Yesca)Reports on McFaulds Exploration Program and Production at La...
11/10/2008(La Yesca)Receives Environmental Permit for La Yesca Mill
2/28/2008(Mc Fauld's Lake)McFaulds Lake Update
1/21/2008(Mc Fauld's Lake)Commences McFaulds' Lake Winter Exploration Program
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6/2/2014UC Resources Announces Red Lake LOIs and Record Date for Sha...
12/31/2013(La Yesca)Prepares for Hard Rock Mining at its La Yesca Facility
6/6/2013Discovers Additional Gold & Silver Veins at Xora
1/15/2013Adopts an Amended and Restated Shareholder Rights Plan
9/6/2012Discovers La Leona II
3/20/2012Hires Senior Geologist and Provides Update
2/8/2012Skype Interview: UC Resources Ltd – CEO - Gary Monaghan On M...
1/9/2012Launches New Website
11/30/2011Provides Information Update
9/15/2011will be presenting at the Canada Asia Business Network
8/4/2011Announces New CEO
4/26/2011(La Yesca)s Production at La Yesca Mill
11/27/2008Timeless Precious Metals fund recommends Near Term Producer ...
11/5/2008Completes Year Two Earn-in at McFaulds Lake
9/29/2008to Commence Drilling at McFaulds Lake
7/28/2008Plans to Drill McFaulds
12/20/2007 Shareholders Update
11/29/2007 Announces Mr. Michel Roy Agrees to Join Board of Directors
11/29/2007Announces departure of Neil Novak
11/7/2007 Anounces Jim Voisin as New President
11/7/2007Announces Delay in Filing Financials
11/6/2007Written up by Clive Maund
9/15/2007Retains AGORACOM To Provide Online Investor Relations and So...
9/5/2007and Spider Resources Inc. intersect 4.35% Zn, 2.69% Cu, 0.3...
8/13/2007Receives Screened Gold Metallics Assay, Confirming Greater T...
3/14/2007’ Update On McFauld’s VMS Project in Northern Ontario
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