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Announces Private Placement

posted on Mar 20, 2009 12:29PM
March 20, 2009
CORRECTION FROM SOURCE: Ucore Uranium Inc. Announces Private Placement
HALIFAX, NOVA SCOTIA--(Marketwire - March 20, 2009) -

A correction from source is issued with respect to the press release issued earlier today. The first paragraph of the press release has been corrected to reflect the fact that each unit will include one full warrant instead of one half warrant. The complete and corrected version follows.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Ucore Uranium Inc. (TSX VENTURE:UCU), ("Ucore" or the "Corporation") is pleased to announce that it has negotiated, subject to regulatory and Board approval, a non-brokered private placement, consisting of up to 5,000,000 units at a price of $0.06 per unit. Each unit will consist of one common share and one whole warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.10 per share for a period of twenty-four months from the closing of the offering, which is anticipated to occur on or about March 27, 2009 and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange (the "Exchange").

The Corporation also wishes to advise that Insiders, as defined by the Exchange, will be participating for greater than 25% of the Private Placement.

The proceeds from the private placement will be used for working capital and to fund the exploration and development of Ucore's Bokan Mountain property.

Signed "Jim McKenzie"

Jim McKenzie, President
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