from SPQ annual re UC drilling of McFaulds Lake VMS properties.... 360 sq kms

(My synopsis...not a quote)

UC Found substantial base metals 2-6% zn & cu over a few holes in 7m to 19m intervals,, AG +6g/t with traces of gold .3g/t... 150 to 360m down

UC resources option:

UC spends $1 mil for first 10% vested interest by first anniversary of signing (Mar 07 2007 anniv)
additional UC expense of $1 mil by 2nd anniv gets 15% more, 25% total
additional UC expense of $1.25 mil by 3nd anniv gets 15% more, 40% total
additional UC expense of $1.25 mil by 4nd anniv gets 15% more, 55% total
announcements to be made by UC b4 each anniv, of election to continue.