From the today UC's NR. KWG will probably let it go... Why is Frank taking so long? To tease Cliffs? Or is there a surprise waiting for us in January - after DDI distribution. Perhaps a sale of all RoF properties to Cliffs following a rollover of these claims to CCMC... Just hypothesis, obviously! GLTA. BaBe.

VANCOUVER, BRITISH COLUMBIA--(Nov. 30, 2011) - UC Resources Ltd. ("UC" or the "Company") (TSX VENTURE:UC) is pleased to provide this information update to its shareholders, stakeholders and interested parties.

On November 10th, 2011, UC Resources announced that it had entered into a definitive agreement (the "Purchase Agreement") with Freewest Resources Inc. ("Freewest"), a wholly owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"), for Freewest to acquire 100% of the UC owned 55% Joint Venture Interest in the McFaulds Lake area property (the "Joint Venture Interest"), subject to and in accordance with the Joint Venture Agreement dated as of July 26, 2011 (the "Joint Venture Agreement") between KWG Resources Inc. ("KWG"), Spider Resources Inc. (now named Cliffs Chromite Far North Inc.), a wholly owned subsidiary of Cliffs ("Spider"), and UC.

Within the definitive agreement, the purchase price payable to UC by Freewest is $6,000,000 CDN ($6 Million), payable by deposit of $850,000 on the signing date followed by the balance on the closing date.

On November 11th, 2011, UC received notice from Cliffs Chromite Far North Inc. of an election to exercise their pre-emptive right in accordance with the Joint Venture Agreement under the same terms as the definitive purchase agreement.

On November 14th, 2011, KWG issued a press release that they were "analyzing the matter carefully". As of today's date KWG has not made their intention known, but in accordance with the Joint Venture agreement, has 45 days from receipt of the notice of November 10th, 2011 to participate in the pre-emptive right, proportionally to its present interest in the joint venture.

UC Resources has received conditional approval on the definitive purchase agreement from the TSX venture exchange on November 28th, 2011. UC Resources is awaiting the final outcome subject to the pre-emptive rights and following that, the subjects of acceptance and approval of the TSX Venture Exchange on the final ownership of the Joint Venture Interest.

Assuming successful close of all conditions of the sale of McFaulds Lake, the company will be enabled to press forward to its major resource area of Mexico where the majority of its assets exist, with a high level of focus and begin to leverage its projects in Mexico for the benefit of shareholders.