Ursa Major Minerals Incorporated T.UMJ

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GlobeinvestorGOLD.com Company News Alert for Ursa Major Minerals Inc
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URSAMajor Minerals Shareholders Overwhelmingly Support Directors and aStrengthened Board; Dissident Attack Defeated and Further Discredited






TORONTO, ONTARIO--
(Marketwire - June 24, 2011) -




THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S.NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.



URSAMajor Minerals Incorporated ("URSA Major" or the "Company") (TSX:UMJ)would like to thank shareholders for their resounding support at URSAMajor's Annual and Special Meeting of Shareholders held on June 23, 2011(the "meeting of shareholders"). At the meeting, Trevor A. Anderson, H.Ross Arnold, Amar Bhalla, Maura Lendon, Martez Moore, Keeheum Shin andRichard Sutcliffe were elected as Directors of the Company. Asshareholders were no doubt aware, URSA Major has been plagued by a groupof opportunistic dissident shareholders led by Inspiration MiningCorporation ("Inspiration Mining"), Forbes & Manhattan, Inc.("Forbes & Manhattan") and advised by Northern Shareholder Services("Northern Shareholder"), who have repeatedly attempted to hijack theCompany for their own ends.


"I am pleasedthat URSA Major can finally put this unfortunate and costly distractionbehind us and redouble our efforts to enhance Canada's only profitablejunior nickel operation with a view to significantly grow ourproduction. I want to express management's appreciation for the work ofthe Special Committee of the Board of Directors and the staff of URSAMajor for their hard work on this campaign. On behalf of the Board Iexpress appreciation for the tireless dedication of the team fromKingsdale Shareholder Services Inc., led by Riyaz Lalani, ChiefOperating Officer and Chang Park, Kingsdale's Senior Director of ClientServices, along with Kingsdale's communications team in the defense ofURSA Major. We also thank Wesley Hall for his very constructive role as asignificant shareholder," said Richard Sutcliffe, URSA Major'sPresident & CEO.


Dissidents Repeated Failure in Court Actions


Dissident shareholder Inspiration Mining, found itself repeatedly rebuffed by the courts in its actions against URSA Major.




OnFebruary 24, 2011, the Ontario Superior Court of Justice dismissed anaction brought by Inspiration Mining and supported the cancellation of aspecial meeting of shareholders requisitioned by Inspiration Mining.Inspiration Mining had repeatedly ignored numerous requests to providetheir proposed nominations for the Board of URSA Major and as such theCourt found the requisition to be invalid.

On March 1, 2011, the Ontario Superior Court of Justicedismissed Inspiration Mining's application to reverse the privateplacement closed by URSA Major on January 31, 2011. Inspiration Mining'sdismissed application also sought to disenfranchise shareholders whohad purchased shares through the private placement at the next meetingof shareholders. The court ordered Inspiration Mining to pay $11,000 incosts in favour of URSA Major.




The Dissident Press Release



Followingthe meeting of shareholders, the dissidents, Forbes & Manhattan andInspiration Mining, issued a release making unsubstantiated allegationsagainst the Company, certain independent Directors, Wesley J. Hall, aninvestment company indirectly controlled by Mr. Hall, and KingsdaleShareholder Services Inc.


Forbes &Manhattan and Inspiration Mining had made similar allegations before theOntario Court. On June 22, 2011, minutes before these allegations wereto be heard by the Court, counsel for Forbes & Manhattan andInspiration Mining advised the Court that they were abandoning theirclaims. The affidavit evidence before the Court was overwhelmingly notin their favour. The Court will assess costs against Forbes &Manhattan and Inspiration Mining at a hearing scheduled today.


Havingabandoned their Court claims, Forbes & Manhattan, and InspirationMining have nonetheless decided to repeat these allegations. Thisoccurred after several unsuccessful attempts by Vic Alboini, Chairman,President & CEO of Northern Financial Corp. (and a nominee on theDissident slate) and Randy Miller, Chairman & CEO of InspirationMining to convince Mr. Hall to support the Dissident slate.



Wesley J. Hall



URSAMajor is pleased at the confidence shown by Mr. Hall through hisfamily's investment company that recently increased its shareholdings inURSA Major to approximately 14.7% of the total outstanding shares ofthe Company. "I am thrilled to have Wes Hall as an investor of URSAMajor. Mr. Hall's tremendous accomplishments as a trusted and soughtafter advisor to major Canadian and international public companies arewell known, having grown Kingsdale Shareholder Services into Canada'spreeminent shareholder services firm from a single employee, in justseven years. Mr. Hall was recognized as an Ernst & YoungEntrepreneur of the Year in 2009 in Ontario and I look forward to hisparticipation as a shareholder in URSA Major's success in the yearsahead." said Richard Sutcliffe.



New Board Members



URSAMajor welcomed two new distinguished directors to our Board atyesterday's Annual and Special Meeting of Shareholders, H. Maura Lendon,President Aurah Advisory Services Inc., and Martez R. Moore, ExecutiveVice President of Operations for Viacom Inc. The additions of Ms. Lendonand Mr. Moore will add to the diversity of perspectives on the Boardand strengthen the overall corporate governance practices of URSA Major.Their respective biographies appear below:




H.Maura Lendon is President, Aurah Advisory Services Inc., focusing onenhancing governance within organizations to support sustainable valuecreation. Ms. Lendon has extensive experience in international business,including mergers and acquisitions, corporate governance, regulatorycompliance, executive compensation, and human resources leadership.Before Aurah Advisory Services, she was Senior Vice President, CorporateServices, Chief Legal Officer and Corporate Secretary for HudBayMinerals, Inc., a Canadian integrated mining company, and prior to that,spent over a decade in the telecom industry, most recently as ChiefCounsel - Canada for AT&T. Ms. Lendon is a graduate of the Instituteof Corporate Directors - Rotman School of Management DirectorsEducation Program. She received her Masters of Business Administrationfrom the Richard Ivey School of Business, her Masters of Law fromOsgoode Hall Law School, her Bachelors of Law from the University ofWestern Ontario, and is called to the Ontario Bar.




MartezR. Moore, the Executive Vice President of Operations for Viacom Inc.,where he functions as the chief operating officer for one of itsbusiness units. Prior to this role, he was the Divisional Head ofBusiness Strategy & Development for one of Viacom's divisions,executing a number of high-profile acquisitions, divestitures, andbusiness unit turnarounds. Prior to joining Viacom, Mr. Moore was astrategy consultant with McKinsey & Company, where he advisedFortune 100 companies. Previously, Mr. Moore was a principal with TSGCapital Group, a private equity fund with nearly $1 billion undermanagement, Indosuez Capital, a leading merchant bank, and MorganStanley & Company's M&A Department. Mr. Moore has also worked atThe White House in the Political Affairs Office for Rahm Emanuel. Mr.Moore received his J.D. from The University of Pennsylvania Law Schooland B.A. from Loyola University of Chicago.




TheBoard of Directors would also like to thank Jean-Pierre Colin, who didnot stand for re-election to the Board, for his service to URSA Major.


AboutURSA Major Minerals - URSA Major is a Canadian mining company with anickel mine and two nickel sulphide projects containing significantNI43-101 compliant nickel and copper reserves and resources. The Companyis focused on demonstrating profitable operations at the ShakespeareMine and growing its nickel, copper and platinum group metal (PGM)deposits through exploration and development, primarily in Ontario,Canada.



Address: 8 King Street East, Suite #1300, Toronto, Ontario, Canada M5C 1B5


Thisrelease was prepared by management of the Company who takes fullresponsibility for its contents. Some statements contained in thisrelease are forward-looking and, therefore, involve uncertainties orrisks that could cause actual results to differ materially. Suchforward-looking statements include comments regarding mining and millingoperations, mineral resource statements and exploration programperformance. Factors that could cause actual results to differmaterially include metal price volatility, economic and political eventsaffecting metal supply and demand, fluctuations in mineralizationgrade, geological, technical, mining or processing problems, explorationprograms and future results of exploration programs, futureprofitability and production.




FOR FURTHER INFORMATION PLEASE CONTACT: Dr. Richard H. Sutcliffe
URSA Major Minerals Incorporated
President and CEO
416-864-0615
[e-mail]
ORAlison Tullis
URSA Major Minerals Incorporated
Manager of Investor Relations
416-864-0615
[e-mail]








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