UC Announces a Financing With the MineralFields Group

VANCOUVER, BRITISH COLUMBIA, Aug 17 (MARKET WIRE) --
UC Resources Ltd. (TSX VENTURE: UC) announces that it has arranged a
non-brokered private placement by the sale of 7,692,307 shares at $0.13
per flow through share to raise $1,000,000. The financing is subject to
regulatory approval.

A commission of 4.5% in respect to the gross proceeds received will be
paid by the issuance of shares in the capital of UC Resources Ltd. to
finders. There will also be warrants issued to the finders equal to 10%
of the number of shares sold. Each warrant will be exercisable into one
common share, at a price of $0.13 per share, for a period of two years
from the date of closing.

"We are very pleased to be entering into our third private placement with
MineralFields Group", said Jim Voisin, President and CEO. "The
relationship with the MineralFields Group is important in the growth of
UC Resources Ltd. and we look forward to working with the MineralFields
Group as we continue to develop our holdings in the McFaulds region."

MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships to
investors throughout Canada during most of the calendar year, as well as
hard-dollar resource limited partnerships to investors throughout the
world. Pathway Asset Management also specializes in the manufacturing and
distribution of structured products and mutual funds. Information about
MineralFields Group is available at www.mineralfields.com. First Canadian
Securities(R), a division of Limited Market Dealer Inc., is active in
leading resource financings (both flow-through and hard dollar PIPE
financings) on competitive, effective and service-friendly terms, with
investors both within, and outside of MineralFields Group.

UC Resources Ltd. is an active explorer of base metals in the McFaulds
lake area of the James Bay Lowlands, Ontario, and an explorer and a very
near term producer of precious metals in Mexico.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this release.

Contacts:
UC Resources Ltd.
Vancouver Head Office
Toll Free: 1-800-366-8566 (Canada & USA)
www.ucresources.net

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