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| |   August 16, 2006
Universal Completes Radiometric Survey in Labrador
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| | Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that Fugro Airborne Surveys of Toronto, ON, has completed the helicopter borne radiometric and magnetic survey of the Central Mineral Belt (CMB) and Seal Lake (SL) areas of Labrador. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, are the second largest claim holdings in the CMB and are being explored jointly with Silver Spruce Resources (SSE). Under the terms of the Universal agreement, Universal can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period with Silver Spruce as the operator during the earn-in period. The government of Newfoundland and Labrador, through its Junior Exploration Assistance Program, has provided a total of $150,000 towards the cost of the survey. This assistance is gratefully acknowledged.
Total line kilometers in the survey were approximately 10,500. Claims in the CMB were covered at 100 m line spacing, with the SL claims covered at 200 m line spacing. Anomaly prioritization for follow up ground exploration is in progress using contractor Ted Urquhart of GeoExplo, based in Santiago, Chile. The helicopter supported ground prospecting follow up is expected to begin within the next week based out of Postville.
The UUL/SSE properties cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm. This is against a background of approximately 5 ppm underlain by units that are favourable as hosts for uranium mineralization. These include the Bruce River and Sylvia River formations, the fluorite bearing granites, and Aillik Group units. Targets in the CMB / Seal Lake area include: unconformity style uranium deposits along sedimentary contacts, IOCG type deposits, shear hosted uranium mineralization associated with felsic volcanism, similar to the Michelin deposit of Aurora Energy, and granite hosted deposits. The CMB properties lie along strike, and in proximity to, properties held by Aurora Energy Inc., Crosshair Exploration and Mining Corp. and the Santoy -- Monster Copper JV.
for all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine T: 604 662 3903 x 107
Investor Relations F: 604 662 3904
Request Info Package: E: info@universaluranium.com |
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