VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) announces the departure of Mr. Neil Novak as V.P. Exploration and as a director of the corporation. Mr. Novak has very recently taken on the very time consuming and demanding position as V.P. Exploration for Noront Resources in addition to his present position as President of Spider Resources and serving on numerous boards of directors. He feels his present workload leaves him in a position where he can longer guarantee to UC the time and commitment required to fulfill his responsibilities to the company. His resignation is effective immediately. UC wishes to thank Mr. Novak for his service to the company over the last year and wishes him well in his new position with Noront. UC Resources will continue to work closely with Mr. Novak in the future on the McFauld's Lake project area where UC has an option to earn-in up to a 55% undivided interest and is the operator during the term of the option.
Billiken Management, under the direction of President Brian Newton, will continue to provide complete and comprehensive geological services and management of all exploration programs for UC Resources as they have in the past year. The company is now participating in an airborne survey contract which was awarded to Aeroquest International Ltd. using its helicopter-mounted AeroTEM-2 system and anticipates a report in December sometime covering its area of interest. This is intended to culminate in a proposed drilling plan by Billiken Management on targets of interest which will focus on Noront Double Eagle look alike signatures. At present Billiken is preparing to start a phase 4 exploration program on the UC Copalquin project. Billiken will report directly to Jim Voisin, President of UC Resources.
On behalf of the Board, Jim Voisin, President & CEO UC Resources Ltd.
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.
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 that arre available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT: UC Resources Ltd.Brian GuskoCFOToll Free: 1-800-366-8566 (Canada & USA)
Website: www.ucresources.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
