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Non Brokered Private Placement Increased to $700,000
January 10, 2006
Torreon, Coahuila Mexico; UC Resources Ltd. (TSXV: UC) (the “Company”)
Further to the Company's News Release of November 23, 2005 announcing that it had arranged a non-brokered Private Placement for up to 5,000,000 Units at a price of $0.10 per unit, the Company announces that placement has been increased to 7,000,000 Units. Each unit consists of one common share of the Company and one common share purchase warrant, each warrant entitling the purchaser to purchase one common share of the Company at an exercise price of $0.125 per share for a period of 18 months from closing. The Company has closed the first tranche of this placement in respect to 3,200,000 units were issued.
The proceeds of the placements will be used to fund the Company's ongoing exploration program of its Copalquin Project located within the Sierra Madre mineralogical belt in the State of Durango, Mexico. UC Resources Ltd. is a Canadian exploration company with offices in Vancouver, B.C., Canada and Torreon, Coahuila Mexico.
On behalf of the board of directors,
Richard J. Hamelin – President/CEO/Director
UC Resources Ltd.
For further information contact:
William (Will) S. Elston – Vice President of Corporate Development
Tel: (604) 681-7265
Toll free: 1 (800) 366-8566 (Canada and USA)
Email: elston@ucresources.net
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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