Nov 29, 2007 16:05 ET
UC Resources Announces Departure of Neil Novak
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) announces the departure of Mr. Neil Novak as V.P. Exploration and as a director of the corporation. Mr. Novak has very recently taken on the very time consuming and demanding position as V.P. Exploration for Noront Resources in addition to his present position as President of Spider Resources and serving on numerous boards of directors. He feels his present workload leaves him in a position where he can longer guarantee to UC the time and commitment required to fulfill his responsibilities to the company. His resignation is effective immediately. UC wishes to thank Mr. Novak for his service to the company over the last year and wishes him well in his new position with Noront. UC Resources will continue to work closely with Mr. Novak in the future on the McFauld's Lake project area where UC has an option to earn-in up to a 55% undivided interest and is the operator during the term of the option.
Billiken Management, under the direction of President Brian Newton, will continue to provide complete and comprehensive geological services and management of all exploration programs for UC Resources as they have in the past year. The company is now participating in an airborne survey contract which was awarded to Aeroquest International Ltd. using its helicopter-mounted AeroTEM-2 system and anticipates a report in December sometime covering its area of interest. This is intended to culminate in a proposed drilling plan by Billiken Management on targets of interest which will focus on Noront Double Eagle look alike signatures. At present Billiken is preparing to start a phase 4 exploration program on the UC Copalquin project. Billiken will report directly to Jim Voisin, President of UC Resources.