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UC Resouces Completes Drill Rig Purchase and Enhances Corporate Governance
July 12, 2006
UC Resources Ltd.: Torreon, Coahuila, Mexico/Vancouver, British Columbia; Trading Symbol: UC: TSXV (the “Company”). The Company is pleased to announce several key corporate developments and corporate governance initiatives.
As previously announced on May 19th, the company had agreed to purchase 2 heli-portable drill rigs from it's current drill contractor. The Company has now completed the purchase of this equipment, allowing UC Resources to plan for an aggressive Phase 3 drill program, which is expected to commence in August or September. The modern heli-portable drill rig will be used during the Phase 3 drill program to delineate the extent of the gold and silver resources found between the La Soledad and El Cometa-El Refugio Prospects, which forms a small part of the large 641 sq. km Copalquin land package located in NW Durango, Mexico. Given the promising gold and silver mineralization encountered in Phase 1 & 2 drilling, UC Resources believes that a major exploration program is warranted, and this drill rig and crew will be an important element in the Company’s efforts to quickly begin Phase 3 drilling.
The Company has also moved to larger offices in Torreon, Mexico. Given recent developments by UC Resources in regards to acquisitions, its objective of becoming a producer in 2006, and promising results from its exploration work, the Company has moved locations to a larger office to accommodate additional staff.
UC Resources also believes that corporate governance means being responsible not only to shareholders, but also to stakeholders in society while benchmarking our operations to Canada’s leading corporations. The Company is pleased to announce it has become a corporate member and sponsor of three organizations.
UC Resources is a Gold Sponsor of the Canadian Club of Vancouver, which exists today, as it has for the past 100 years, to promote Canadian identity and foster Canadian unity. In the hundred years since its founding, the ways and means the Club has used to pursue its goals have evolved, but its purpose has remained the same: to foster fellowship among people proud to celebrate their Canadian identity and to educate, inform, and stimulate thought about issues of national significance.
The Company is also a member of the Canadian Investor Relations Institute, which is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI is dedicated to advancing the stature and credibility of the investor relations profession and the competency of its members.
UC Resources is also proud to sponsor USMoms, which is a Vancouver-based charity that supports single, parent families by providing free weekly boxes of nutritious foods, free clothing, furniture and household items as well as self-reliance and education programs. In order to meet its goals, USMoms is looking to increase the amount of food it provides destitute families.
Further to its corporate governance initiatives, UC Resources was proud to have been a bronze sponsor of Big Brothers recent Whistler Golf Classic, presented by Canaccord Capital. This charity event has grown to become one of the premier charity golf tournaments in Canada, attracting top business people from a variety of industries. The Big Brothers Whistler Golf Classic has now raised more than $1.9 million to support Big Brothers of Greater Vancouver.
UC Resources is also an active and proud member of the business community in Mexico. The Company believes that its long-term success depends on the future generation of Mexicans who will have realized the benefit of a university education. The Company is currently in negotiations with three universities in order to provide financial aid for Mexican students residing in Mexico as well as an opportunity for these students to study in British Columbia. It is anticipated that these arrangements will be finalized by the end of July.
On behalf of the Board of Directors of UC Resources Limited,
Richard J. Hamelin, President/CEO/Director
For further information:
Brian Gusko, Corporate Development
#1000, 355 Burrard Street Vancouver, B.C. V6C2G8 Canada
Toll 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. 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 what are available at www.sedar.com.
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