| MONTREAL, QUEBEC--(Marketwire - April 21, 2009) - Uranium Bay Resources Inc. (TSX VENTURE:UBR), pursuant to the stabilization seen in the general market environment for exploration companies, UBR would like to take this opportunity to up-date its shareholders on the following.
The Corporation would like to clarify a concern that has been raised by investors and shareholders stemming from rumours circulating in the investment community. The Corporation hereby confirms that it does not intend to proceed with any consolidation of its shares and that management shall not insert provisions to that effect in the circular to be sent to its shareholders and to be submitted at its upcoming Annual General Meeting of Shareholders as an item to be approved by shareholders.
The technical report on the Uskawanis Uranium Property ("UUP") mentioned in the February 3, 2009 press release is presently being finalized by UBR Exploration Manager and Technical Director, Mr. Viv Stuart-Williams. The Corporation's goal is to have the technical report available for distribution in the coming three weeks. The report will help present the Corporation's vision of the significant uranium potential that could be present on the Corporation's wholly owned 314 km2 UUP. Concession situated SE of Hydro-Quebec's Opinaca Hydroelectric Reservoir along the Eastmain River, 180 km SE of Radisson, Quebec.
Mr. Bernard Tourillon, UBR's President and CEO
"UBR's plans of going forward have not changed, upon receipt of the complete technical report, now being finalized, management and Board will work diligently to implement a strategy to ensure the long-term development of the UUP project."
About Uranium Bay Resources Inc.
Uranium Bay Resources Inc. is a Canadian based junior resource and exploration company trading under the symbol UBR on the TSX Venture Exchange. The Company has 82,374,367 shares outstanding. The Company holds 100% of the 314 km2 Uskawanis Uranium property located just south of the Opinaca reservoir.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements reflecting Uranium Bay objectives, estimates, expectations and the impact of acquisitions on Uranium Bay's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Uranium Bay's projections or expectations. |