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27 g/t Gold and 1.47% U3O8 Reported from Ucore’s Sandybeach Lake Property

(Vancouver, B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to announce additional assay results from its 100% owned Sandybeach Lake property in southern Nunavut.

A total of 98 samples were collected from the property during a two-week prospecting program in August. These samples consisted of selected grab samples from outcrop, felsenmeer and float from various parts of the property. Uranium values were announced by press release datedOctober 16, 2007.  Analytical results for gold have now been received from this same suite of samples, returning gold values ranging from less than 2 ppb to 27,700 ppb. The best gold values generally correlate with significant uranium values from a cluster of angular float/felsenmeer from the A-1 target. This target is defined by a recently completed airborne radiometric and magnetic survey and outlines a zone of anomalous equivalent uranium, up to eight times background. The equivalent uranium anomaly, approximately 900 m long and 400 m wide, is coincident with the southwestern portion of a discrete magnetic high that trends approximately 8 km northeast across the property.

The following table lists gold and uranium values from select samples collected from the Sandybeach Lake Property. 

 Sample Number Au (g/tonne) U3O(%*)  
173418 27.7 0.001  
173416 19.3 1.47  
176969 17.6 0.017  
176967 16.3 0.054  
176851 11.0 0.18  
176968 0.121 0.065  
171499 0.178 0.14  
 * Laboratory results are received in parts per million uranium. The 
conversion factor used to convert parts per million uranium to % U3O8 
is 10,000 ppm = 1% U = 1.18% U3O8
 
 

 

The majority of samples are comprised of weakly to strongly altered meta-arkose mineralized with a sulphide assemblage of pyrrhotite, arsenopyrite, and rare chalcopyrite. Sample 173416 differs from the other samples listed, in that it is comprised of strongly altered granitic material with a low concentration of sulphides.

“We are very encouraged by these results,” said Jim McKenzie , Ucore’s President and CEO. “A follow-up program of detailed grid work and diamond drilling is planned for next summer.”

Ucore Uranium owns a 100% interest in the 18 square kilometer Sandybeach Lake property, which is now surrounded by claims held by Cameco Corporation.  Wayne Reid , P.Geo., technical advisor to Ucore, is the Qualified Person responsible for the technical accuracy of this news release.

Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. With more than twenty active projects, Ucore’s primary focus is the Bokan Mountain uranium and rare earth element property in Alaska .

This press release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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

For more information, contact 
Jenn Gillespie 
Investor Relations 
Tel:      (902) 482-5214 
Cel:      (902) 441-4004