UC Resources Earns 55% Ownership Interest in McFauKWG Resources Inc (KWG:TSXV) - News Alert
UC Resources Earns 55% Ownership Interest in McFaulds Lake Property Package
UC Resources (TSX VENTURE:UC) ("UC" or the "Company") is pleased to announce that the Company has reached the 55% ownership level in the East and West block properties in the James Bay Lowlands, Ontario, in the area known as the "Ring Of Fire" ("Project"). These properties are optioned from Spider Resources Inc. ("Spider") and KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") under an Option Agreement dated March 6, 2009 ("Option Agreement").
The data was submitted as required by the Option Agreement and after review has been accepted by Spider and KWG. As a result, UC now holds an undivided 55% interest in the Project.
UC Resources Ltd., Spider Resources Inc., and KWG Resources Inc. are expected to form a joint venture with UC remaining as operator of the Project.
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, plus an explorer and 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
https://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.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the McFaulds property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE: UC Resources Ltd