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2004


2004

3000 meter Drill program begins on Copalquin property, Durango Mexico
November 3, 2004

UC Resources Ltd. (UC - TSX-V) is pleased to announce the drilling exploration phase has begun on the 7,005 hectares (17,401 acres) Copalquin Property located in the Sierra Madre mineralogical belt in Durango, Mexico. UC has an option to earn up to 50% of the interest of Planet Exploration Inc.’s (PXI: TSX-V) interest in the Copalquin Property.

The Copalquin Mining District is reputed to have produced at least 250,000 ounces gold (Au) and 11 million ounces silver (Ag) from 336,000 tonnes mined prior to 1985. Much of this production was before the Mexican revolution (pre-1910), and the majority came from only 5 mines: San Manuel, Los Reyes, El Refugio, La Soledad and El Cometa, all of which are located within the Copalquin property.

Historically, exploration work at Copalquin has been limited to underground tunneling to follow outcropping high grade silver and gold veins. Government sampling programs in 1976 followed by programs by IMMSA (1983), Kennecott (1995) and Francisco Gold (1995) confirmed the existence of high grade veins and more importantly determined that many of the known mineralized zones are associated with much more extensive lower grade zones. The property was never drilled until 1997/1998, when a 31 hole program at 4 targets was conducted. Significant values were intersected immediately down dip of the El Cometa and El Refugio’s mine workings as publicly reported (BCCC NR: June 30 and August 17, 1998). The following table lists several holes on El Cometa, specifically:

HOLE #

FROM

TO

INTERVAL

GOLD

SILVER

 

metres

metres

metres

grams/tons

grams/tons

EC-02

35.75 39.75 4.00 244.65 2250

EC-08

44.50 46.00 1.50 10.60 301

EC-09

28.80 47.00 18.20 8.55 144

EC-10

32.50 39.40 6.90 17.03 352

EC-11

32.00 32.80 7.50 1.33 55

EC-12

20.00 24.00 4.00 18.19 369
  38.40 39.40 1.00 35.19 609

EC-13

19.50 22.50 3.00 77.57 733
  32.50 34.50 2.00 7.73 106

Since April 2004 UC Resources, acting as operator, has carried out various sampling programs and ground geophysical work and constructed a new camp on-site to accommodate drilling and geological personnel. The company plans to complete approximately 3,000 metres of drilling to test for extensions of the high grade mineralization identified by 1997/1998 drill programs.

UC Resources option agreement with Planet Exploration will allow UC to earn a 50-per-cent interest in Planet Explorations 100-per-cent option on the Copalquin property.

Mr. Eugene Larabie. P.Eng. is the Qualified Person for this project.

On behalf of the board of directors,

Eugene Larabie, President,

UC Resources Ltd. UC Resource Ltd.

Trading Symbol: UC - TSX Venture

#507, 595 Howe Street

Vancouver, B.C. V6C2T5 Canada

Tel: 604.681.7265, Fax: 604.681.2161

Toll free: 1.800.366.8566 (Cdn. /U.S.)

Website: www.ucresources.net

Email: info@ucresources.net

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 development 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 what are available at www.sedar.com.


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