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UC Resources announces departure of Neil Novak
November 29, 2007, UC Resources Ltd.: Vancouver,
British Columbia: Trading Symbol: TSXV:UC. UC Resources Ltd.
("UC" or "the Company"). UC Resources announces the
departure of Mr. Neil Novak as V.P. Exploration and as a director of the
corporation. Mr. Novak has very recently taken on the very time
consuming and demanding position as V.P. Exploration for Noront Resources
in addition to his present position as President of Spider Resources and
serving on numerous boards of directors. He feels his present
workload leaves him in a position where he can longer guarantee to UC the
time and commitment required to fulfill his responsibilities to the
company. His resignation is effective immediately. UC wishes
to thank Mr. Novak for his service to the company over the last year and
wishes him well in his new position with Noront. UC Resources will
continue to work closely with Mr. Novak in the future on the McFauld's
Lake project area where UC has an option to earn-in up to a 55% undivided
interest and is the operator during the term of the option.
Billiken Management, under the direction of
President Brian Newton, will continue to provide complete and
comprehensive geological services and management of all exploration
programs for UC Resources as they have in the past year. The
company is now participating in an airborne survey contract which was
awarded to Aeroquest International Ltd. using its helicopter-mounted
AeroTEM-2 system and anticipates a report in December sometime covering
its area of interest. This is intended to culminate in a proposed
drilling plan by Billiken Management on targets of interest which will
focus on Noront Double Eagle look alike signatures. At present
Billiken is preparing to start a phase 4 exploration program on the UC
Copalquin project. Billiken will report directly to Jim Voisin,
President of UC Resources.
On behalf of the Board,
Jim Voisin
President & CEO
UC Resources Ltd.
For further information:
Brian Gusko, CFO
Contact Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Toll Free: 1-800-366-8566 (Canada &
USA)
Website: www.ucresources.net
Investors are
invited to visit the UC Resources IR Hub at http://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.
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. This release includes certain
statements that may be deemed "forward-looking
statements". All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward looking statements include
market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and those actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
Investors should review the Company's registered filings that are
available at www.sedar.com
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November 29,
2007
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WHAT'S NEW
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Nov 19,
2007:
UC Resources Closes
Strategic $4.1 Million Brokered Financing With PowerOne Capital
Markets Limited
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Nov 15, 2007:
UC Resources to be
reinstated for trading Nov. 16
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Nov 7, 2007:
UC Resources Announces
Delay in Filing Financials
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