VANCOUVER, BRITISH COLUMBIA--(Aug. 3, 2010) - UC Resources Ltd. (TSX VENTURE:UC) ("UC") is pleased to announce the granting of a US$500,000.00 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.
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 which occurred during May 2010. Mill equipment to date has operated as expected but milling operations have recently been adversely effected by daily power outages during the rainy season. An additional back up power generator is required to insure consistent operation for the final phase of commissioning. This is expected to be installed and operational within the next two weeks. Electrical supply is generally only affected during the rainy season.
The increase in head feed grade is just starting to be seen in our metallurgical throughput tests and consistent operation is required to fine tune final recovery rates. The mill has a design capacity of 220 tonnes per day and will be tested to confirm maximum throughput as soon as consistent 24 hour electrical power can be provided.
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
Toll Free: 1-800-366-8566 (Canada & USA)
www.ucresources.net
