UNITED REEF LTD V.URP

****DRILL RESULTS ARE GOOD******

[thenforcer2]

Ursa Major drills 1.6 m of 3.12% Ni at Nickel Offsets
2009-12-01 08:44 ET - News Release
Dr. Richard Sutcliffe reports
URSA MAJOR MINERALS INTERSECTS NEW LENS OF HIGH-GRADE MASSIVE SULPHIDES AT NICKEL OFFSETS PROPERTY, SUDBURY
Ursa Major Minerals Inc.'s drilling at the past-producing Nickel Offsets mine, located in Foy township, 40 kilometres northwest of Sudbury, Ont., has intersected a new lens of high-grade massive sulphides. Hole U15-02 intersected 1.6 metres grading 3.12 per cent nickel, 1.15 per cent copper, 0.12 per cent cobalt, 1.39 grams per tonne platinum, 2.04 grams per tonne palladium and 0.21 gram per tonne gold.
As reported in Stockwatch news on Nov. 11, 2009, Ursa Major's drill program is targeting massive and disseminated sulphides in proximity to the existing workings of the past-producing Nickel Offset No. 1 mine in the Foy Offset dike, located in the footwall of the Sudbury complex. The high-grade intersection in U15-02 is a newly discovered mineralized lens and is located at a relatively shallow level within the former mine workings at a downhole depth of 250.4 to 252.0 metres. The hole was drilled at an inclination of minus 53 degrees and the lens is interpreted to have a subvertical dip. In the present program, five holes have been completed for a total of 1,807 metres of drilling. Ursa Major is also currently conducting borehole EM geophysical surveys to test for additional conductive mineralization and to evaluate of the extent of conductive mineralization in drill hole U15-02. Assay results on mineralization in additional holes are pending.
Dr. Richard Sutcliffe, Ursa Major's chief executive officer, stated: "We are encouraged with the initial exploration results on this property. We have identified a new high-grade lens of mineralization and with limited drilling have developed an understanding of important structural controls on mineralization that should lead to further discoveries. In addition, assays demonstrate that the Nickel Offsets mineralization contains significant precious metal concentrations. At current metal prices the base and precious mineralization in the U15-02 intersection has a gross in situ value of over $650 (U.S.) per tonne."
The Nickel Offsets property consists of 12 contiguous patented mining claims and five unpatented mining claims covering a total of 358 hectares (884 acres). Ursa Major has an option to earn a 70-per-cent interest in the property from United Reef Ltd. (See the company's news release in Stockwatch dated March 6, 2008, for the terms of the option agreement.)
The historical preproduction resource (pre-National Instrument 43-101 -- see below) was 359,000 tons grading 1.9 per cent Ni and 1.45 per cent Cu (Nickel Offset Mines Ltd. annual report, 1940). Between 1943 and 1957, the Nickel Offsets mine produced 208,551 tons of nickel and copper ore with reported recoveries of 4.56 million pounds of nickel and 3.32 million pounds of copper. Historical underground exploration and mining development at the Nickel Offset mine included 1,599 feet of shaft sinking, approximately 10,000 feet of drifting and 3,980 feet of raising on nine levels at the No. 1 mine and 1,056 feet of shaft sinking, approximately 6,000 feet of drifting and 410 feet of raising on five levels in the No. 2 mine.
National Instrument 43-101: A qualified person has not done sufficient work to verify the historical preproduction resource estimate at the past-producing Nickel Offsets property. These historic estimates predate National Instrument 43-101, are not compliant with current definitions, have not been verified by the company and consequently should not be relied on by investors. The historical estimates are provided as an indication of historically reported grades.
The gross in situ value for the intersection is provided as a relative indication of potential value of mineralization only. Significant further exploration and engineering work is required to determine if this mineralization may be considered as economic.
Harold Tracanelli, PGeo, is the qualified person for the drill program.
We seek Safe Harbor.