Information  X 
Enter a valid email address

Uranium Mining Corp (~275)

  Print      Mail a friend       Annual reports

Thursday 24 November, 2005

Uranium Mining Corp

URANIUM PROPERTIES UPDATE

Uranium Mining Corporation PLC
24 November 2005


                         URANIUM MINING CORPORATION PLC

              URANIUM PROPERTIES UPDATE - LABRADOR TROUGH, QUEBEC

The Uranium Mining Corporation plc ('the Company') (AIM: UOX), who recently
announced its decision to expand its activities in the energy sector and a
proposed change of name to UMC Energy plc, notes the announcement below made by
the Company's joint venture partner in Canada, Waseco Resources Inc.:

               Waseco Resources Inc.: Preliminary Uranium Report

Waseco Resources Inc. (TSX VENTURE:WRI) is pleased to report that it has
received a Preliminary Summary Report on the geophysical program carried out by
McPhar Geosurveys Ltd. on the Company's 5 properties in the Quebec Labrador
Trough.

The Preliminary Summary Report, authored by Rob Hearst, M.Sc. P.Geoph. and a
Qualified Person under N-I Policy 43-101, compiles and interprets the initial
results of the magnetic, gravity and radiometric surveys completed in September
of this year. The Summary identified that each of the five properties has
geophysical features of significant interest for uranium, and other minerals.
Several anomalous uranium zones across all properties have been delineated, some
of which are kilometres in strike length and open ended. Additional follow-up
geologic and geophysical work has been recommended, including the staking of
additional claims. A detailed interpretation of the airborne survey results is
currently being completed with the expectation of developing several targets
that can be directly drilled from these results. More detailed and property
specific information will be made available following receipt of the Final
Report.

The Summary Report has now been reviewed by management in conjunction with the
historical assessment work on file with the Quebec Government, as well as the
geochemical maps of lake bottom sediment sampling prepared by the Quebec
Ministry of Natural Resources. As a result, the Company has staked an additional
6,000 hectares in order to cover possible extensions of mineralised zones
indicated from the various sources.

Three of the five properties have been optioned to Uranium Mining Corporation
plc. who have the right to earn a 75% interest by funding the next $800,000 of
exploration. Two of the properties are 100% owned by Waseco. All of the original
properties are subject to a net smelter royalty.
                                                                24 November 2005


For further information, please contact:


Uranium Mining   Chris Kyriakou                             +44 (0)20 7514 1480
Corporation plc
                 Non-Executive
                 Director
                 Annie Richards                            +44 (0) 20 7514 1482

                 Corporate
                 Communications
                 Manager

Pelham Public    Charles Vivian  Charles.vivian@pelhampr.com +44 (0)20 7743 6672
Relations
                 Alisdair        Alisdair.haythornthwaite@pelhampr.com     
                 Haythornthwaite                            +44 (0) 207 743 6676



                      This information is provided by RNS
            The company news service from the London Stock Exchange