VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2009) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) is pleased to provide the following corporate update regarding the McFaulds Lake properties in the James Bay Lowlands region of northern Ontario, the properties form part of the "Ring of Fire" exploration play.

UC Resources Ltd. recently completed in excess of $3.25 million spending commitment as required under the terms of an Option agreement signed on March 6, 2009 (based upon a Letter of Intent ("LOI") originally signed on March 6, 2007) between Spider Resources Inc. (TSX VENTURE:SPQ) ("Spider") and KWG Resources Inc. (TSX VENTURE:KWF) ("KWG"). The third year minimum expenditure requirement was completed prior to the third anniversary date of the original LOI being March 6, 2010, pursuant to the Option agreement.

As previously announced on August 27, 2007, UC had advised Spider and KWG that it had completed the third year spending requirement on the McFaulds Lake option agreement and delivered unaudited proof thereof to them. Spider has recently completed the review of the submitted expenditures, along with the supporting technical reports and in Spider's opinion UC has expended sufficient qualifying funds to earn the 40% interest prior to the agreed upon anniversary date of March 6, 2010.

As per the option agreement dated March 6, 2009 between UC, Spider and KWG; UC has an option to incur additional exploration expenditures of $1.25 million on or before the fourth anniversary date of March 6, 2011, in order to earn an additional 15% vested interest in the Property, bringing UC's interest level to 55%. UC has also advised both Spider and KWG that they intend to exercise their full optional rights with respect to the McFaulds Lake Project Property Joint Venture Agreement , whereby they will earn-in up to a 55% undivided interest in the property. The fourth and final year earn in expenditure to earn the additional 15% interest is underway.

UC would also like to advise that drilling has resumed in the James Bay Lowlands and will involve a multi-hole drill program to be completed prior to the Christmas break. Drilling commenced on November 22, 2009. Assay results from the recent drill program that commenced in mid October (announced October 18, 2009) consisting of 4 holes at McFaulds West property are pending and will be released upon receipt.

On behalf of the Board,

Jim Voisin, President & CEO

UC Resources Ltd.