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Tuesday 21 October, 2008

Union Resources LTD

Namibian Phosphate Project


                            Union Resources Limited                            

        Namibian Phosphate Project - Exchange Control Approval Received        

Union Resources Limited ("Union" or "the Company") previously advised that it
had acquired Namibian company Sea Phosphates (Namibia) Pty Limited ("SPL")
which holds two Exclusive Prospecting Licences nos. 3414 and 3415 ("the EPLs")
issued by the Namibian Ministry of Mines and Energy for Phosphates and Precious
Stones. The EPLs are part of the Sandpiper Phosphate Project off the coast of
Namibia which the Company is currently evaluating.

Union also advised that final completion under the contract pursuant to which
it acquired SPL (`the Contract") would take place on or before 20 April 2009,
subject to satisfaction of a number of conditions precedent, including receipt
of any required regulatory approvals. One of the regulatory approvals required
was exchange control approval from the Bank of Namibia for transactions
proposed under the contract. Exchange control approval has now been formally
received from the Bank of Namibia.

For further information contact:

Australia: Union Resources Limited
Mr John Lemon - Company Secretary
Phone: +61 7 3833 3833

London: Hanson Westhouse Limited
Bill Staple or Martin Davison
020 7601 6100

Bankside Consultants
Simon Rothschild or Louise Mason
020 7367 8888

_____________________________________________________________________
Email: info@unionresources.com.au Internet: www.unionresources.com.au