Good Afternoon,
Please see the attached press release issued today at 4:45p ET, regarding our Second Quarter results, titled: ?URSA Major Minerals Reports Gross Revenue of $2,499,084 at Shakespeare Nickel Mine for the quarter ended July 31, 2011?.
Richard Sutcliffe, URSA Major?s CEO commented, ?Due to a delayed spring, the half-load season was longer than previous years, resulting in just over one month of haulage in the quarter. As a result of reduced amount of ore processed and a lower grade, the Company recorded its first operating loss for the quarter at the Shakespeare Nickel Mine. We have taken the necessary steps to improve on the grade being mined and to increase on the tonnage being hauled during the next two quarters. Further, in the six months ended July 31, 2011, the Company incurred significant increases in legal, professional and shareholder information expenses that are largely a result of the shareholder meeting requisition and the subsequent court applications by Inspiration Mining Corporation. While the Company was successful in having the court applications dismissed, these expenses have contributed to a loss for the three and six months ended July 31, 2011. These actions are now successfully behind us and we look forward to executing our vision of growing URSA Major into a profitable mid-tier nickel producer through successful exploration, production expansion and project acquisition.?
Kind Regards,
Alison
Alison TullisIR Manager
URSA Major Minerals Incorporated
T: 416-864-0615
F: 416-864-0620
C: 647-919-0020
www.URSAMajorMinerals.com
Twitter: @URSA_Mjr_Mnrls
URSA Major is a nickel and copper development stage company based in Canada.
URSA Major produces nickel, copper, cobalt, gold, palladium and platinum in Canada, and holds various exploration projects in Canada.
Its main asset in production is SHAKESPEARE in Canada and its main exploration properties are NICKEL OFFSETS, AGNEW LAKE, NICKEL OFFSETS (ROSS MINE) and PORTER TOWNSHIP in Canada.