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| |   August 31, 2006
Ground Follow up on Airborne Radiometric Survey Labrador
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| | Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it's it's joint-venture partner Silver Spruce Resources Inc. (TSX: SSE) has begun ground follow up on the Central Mineral Belt ("CMB") uranium properties. A helicopter-supported five man crew was mobilized to Postville, on the Labrador Coast, late last week. The follow up consists of prospecting using hand-held scintillometers on anomaly targets selected by consultant, Ted Urquhart of Santiago, Chile. A total of 17 high priority targets have been defined on the CMB properties; four on Jacques Lake, two on CMB NW, four on CMB SE, one on CMB E and six on the CMB NE. There are also many other lower priority targets shown. The targets were selected on the basis of U/Th ratios using the 95th percentile, total uranium, total field magnetics and geology. The maps for the areas, with the high priority targets shown, are available on the UUL website at www.universaluranium.com under the "Projects" heading under Labrador, Central Mineral Belt Properties.
Fugro Airborne Surveys of Toronto, Ontario, completed the approximately 10,000 line km helicopter borne radiometric and magnetic survey of the CMB and Seal Lake ("SL") areas of Newfoundland and Labrador in early August, 2006. Line spacing was 100 m in the CMB and 200 m in SL. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm against a background of approximately 5 ppm underlain by units that are favorable as hosts for uranium mineralization. They are the second largest claim holdings in the CMB and are being explored jointly with Silver Spruce Inc. (TSX: SSE). Under the terms of the agreement, UUL can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period with SSE as the operator during the earn-in period.
Anomaly prioritization for ground follow up in the SL area continues. Targets in the CMB/SL 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. (TSX -- AXU), Crosshair Exploration & Mining Corp. (TSX -- CXX) and the Santoy -- Monster Copper JV (TSX -- SAN).
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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