VANCOUVER, BRITISH COLUMBIA--(Feb. 18, 2010) - UC Resources Ltd. (TSX VENTURE:UC) ("UC") is pleased to announce the granting of a US$270,000.00 loan facility from the Mexican Mining Development Trust - Fideicomiso de Fomento Minero (FIFOMI).
Funds from this loan will be used during the re-commissioning of the La Yesca milling facility and for working capital purposes in the Mexican production operation. Further loan facilities from FIFOMI have been applied for and are under review.
The La Yesca mill is fully permitted and management has spent the last year assessing production solutions and searching for the right capital to implement the required changes to re-start the mill. Management is confident the recovery and grade issues have now been successfully addressed and intends to move forward as quickly as possible to production.
It is important to note that the FIFOMI loan also serves as a major accreditation from the Mexican Business Development Co-corporation in conjunction with the Government of Mexico. UC Resources would like to thank Mr. Norberto Roque, the Mining Coordinator of the Ministry of Economy, Mr. Alberto Oritiz, the Director of FIFOMI, Mr. Alfonso Sanchez, sub Director, and Mr. Rene Sotuyo, Regional Coordinator, for their assistance in this funding.
UC Resources is an active explorer of base metals and chromite in the McFaulds Lake area ("Ring of Fire") of the James Bay Lowlands, Ontario, as well as an explorer and a near term producer of precious metals in Mexico.
On behalf of the Board of Directors,
Jim Voisin, President & CEO, UC Resources Ltd.
We seek safe harbour.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
UC Resources Ltd.
Damien Lowry
Vancouver Head Office
Toll Free: 1-800-366-8566 (Canada & USA)
www.ucresources.net
