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Message: UC Resources Ltd. Announces Closing of Non-Brokered Private Placement

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UC Resources Ltd. Announces Closing of Non-Brokered Private Placement

posted on Apr 30, 09 02:20AM

VANCOUVER, BRITISH COLUMBIA--(April 30, 2009) - UC Resources Ltd. (TSX VENTURE: UC.V) -

Further to the Company's news release dated April 20, 2009, the Company is pleased to announce it has received TSX Venture Exchange approval for and closed a private placement of 10,000,000 flow-through shares, at a price of $0.10 per share, to raise proceeds of $1,000,000.

At the closing the Company paid a finder's fee to Limited Market Dealer Inc. in shares consisting of a commission equal to 4.5% (450,000 shares) of the proceeds raised, a due diligence fee of 4.5% (450,000 shares) of the proceeds raised, and finder's warrants exercisable to purchase 1,000,000 shares, at a price of $0.10 per share, for a period of two years from closing.

All of the shares and any shares issued upon exercise of the finder's warrants are subject to a hold period and may not be traded in Canada until August 24, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

UC Resources Ltd. is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, and an explorer and a very near term producer of precious metals in Mexico.

About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contacts

Vancouver Head Office
UC Resources Ltd.
Toll Free: 1-800-366-8566 (Canada & USA) or (604) 681-7265
(604) 608-6163 (FAX)
Website: www.ucresources.net