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Ucore Uranium Closes Private Placement

Ucore Uranium Inc. (the “Company”) is pleased to announce that it has closed the non-brokered private placement previously announced on March 7, 2007 and March 9, 2007 by selling 2,700,000 units at a price of $1.25 per unit, for total proceeds of $3,375,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant gives the holder the right to purchase one additional common share for two years. The price of exercise of the warrant shall be $1.45 for the first year and $1.60 for the second year. 

James McKenzie, President of Ucore, said, “We are very pleased to welcome these significant investors to the Ucore shareholder group, as the company advances its Bokan Project towards near term production. ” 

The Company has paid a total of 174,569 shares as finder’s fees to two parties which equates to 7.5% of the total value of units purchased in the form of common shares of the Company at a deemed value of $1.45 each. 

All securities issued as a result of the financing will be subject to a four month hold period which expires July 24, 2007. 

The proceeds of the financing will be used to carry out exploration on the company’s properties and for general working capital. The Corporation now has 44,315,617 shares issued and outstanding. 

For further information, please contact Mr. James McKenzie, President and Chief Executive Officer of Ucore Uranium Inc. at: 
Telephone: (902) 482-5214 
Fax: (902) 492-0197 

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 

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 Corporation 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.