UC Resources Ltd. ("UC" or the "Company") (TSX VENTURE:UC) - 

UC Resources reports that mill operations at the Company La Yesca site have been
closed during the Christmas holiday season and will be kept on temporary hold in
a state of care and maintenance. In the new calendar year the Company will
prepare for Hard Rock mining at its Xora Concession. With reducing silver prices
and the grade that exists within the tailings on site, it has been determined
that a concentration on the higher grade material is the best choice for Company
profitability. The Company cannot continue to consistently lose capital though
arduous efforts in an attempt to get mill operations running effectively, using
the existing feed at the La Yesca location. The Company has not been able to run
the mill at La Yesca profitably and with poor precious metal market conditions,
depressed gold and silver pricing and lower recoveries from the tailings
themselves, Company focus has shifted to the higher grade hard rock material.


The Company is currently negotiating on a debt facility which would allow hard
rock mining to commence on site. The Company may also pursue joint ventures to
obtain hard rock mining expertise and is exploring all other options with its
other properties. The Company will also look at additional financing choices and
Company structure as it continues in the upcoming year. In order for the Company
to operate effectively it will require additional financings this upcoming year.


UC Resources Ltd. is an active explorer and producer of precious metals in Mexico.

On behalf of the Board of Directors,

Gary Monaghan, Chief Executive Officer

We seek safe harbour.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


Investors or interested parties are invited to visit the UC Resources Website at
http://www.ucresources.net - where they can choose to join the opt-in e-mail
list to receive all future press releases and updates in real time.


This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the La Yesca properties and other future
plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of current
exploration activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
UC Resources Ltd.
Gary Monaghan
Chief Executive Officer
778-478-9530
monaghan@ucresources.net
www.ucresources.net

UC Resources Ltd. (TSXV:UC)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more UC Resources Ltd. Charts.
UC Resources Ltd. (TSXV:UC)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more UC Resources Ltd. Charts.