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Jun 29, 2011
URSA Major Minerals Announces Favourable Decision from the Ontario Superior Court
- Court awarded substantial indemnity cost against Forbes & Manhattan and Inspiration Mining Corporation
- Court found Forbes & Manhattan and Inspiration Mining conduct "reprehensible"
- Court found complaints by Forbes & Manhattan and Inspiration Mining to have "lack of merit"
TORONTO, ON - URSA Major Minerals Incorporated ("URSA Major" or the "Company") (TSX:UMJ) announces today that the Ontario Superior Court has ordered Forbes & Manhattan, Inc. ("Forbes & Manhattan") and Inspiration Mining Corporation ("Inspiration Mining") to pay costs of $60,000 to the Company and $50,000 to an investment company indirectly controlled by Wesley J. Hall ("159").
In his decision Justice Brown found that:
Forbes & Manhattan and Inspiration Mining engaged in tactical litigation
Forbes & Manhattan and Inspiration Mining made serious allegations of misconduct that lacked merit
Forbes & Manhattan and Inspiration Mining engaged in "reprehensible conduct"
Justice Brown stated in his decision:
(Forbes & Manhattan and Inspiration Mining) did not ask this Court to adjudicate on the merits their claims. Instead, they folded their cards just before the knock on the courtroom door, and they abandoned their application.
...
(Forbes & Manhattan and Inspiration Mining) brought before me simply marked another tactical skirmish by (them) in their contest against the management and Board of URSA Major. That (Inspiration Mining and Forbes & Manhattan) withdrew their request for injunctive relief at the last possible minute underscored the tactical nature of their use of the courts.
...
In sum, I find that the serious allegations of misconduct levelled by (Forbes & Manhattan and Inspiration Mining) against (URSA Major and 159), the lack of merit to those allegations, and the tactical use made by (Forbes & Manhattan and Inspiration Mining) of this proceeding combine to place the litigation conduct of (Forbes & Manhattan and Inspiration Mining) in the category of "reprehensible conduct" ....
"I am very pleased that the Ontario Superior Court has levied this significant costs award against Forbes & Manhattan and Inspiration Mining and found their conduct to be improper. We are also pleased with the Court's observation that the allegations that have been made against URSA Major and Mr. Hall's company are without merit" said Richard Sutcliffe, URSA Major's President & CEO.
About URSA Major Minerals - URSA Major is a Canadian mining company with a nickel mine and two nickel sulphide projects containing significant NI43-101 compliant nickel and copper reserves and resources. The Company is focused on demonstrating profitable operations at the Shakespeare Mine and growing its nickel, copper and platinum group metal (PGM) deposits through exploration and development, primarily in Ontario, Canada.
CONTACT:
Dr. Richard H. Sutcliffe, President and CEO 
416-864-0615
[e-mail]
Alison Tullis, Manager of Investor Relations
416-864-0615
[e-mail] 
Address: 8 King Street East, Suite #1300, Toronto, Ontario, Canada M5C 1B5
Symbol & Exchange: UMJ -- TSX