Date : March 30, 2010

I’ve noticed, as of late, a number of new posters to the hub and thought it might be a good idea to compile some due diligence to assist those not familiar with the current state of UC Resources. First off, let me state that I believe a lot of the interest in UC has been brought on by the recent action involving Spider and KWG and their Big Daddy deposit. Yes, UC Resources does have a JV agreement with Spider and KWG, but it does not include the claims covering the Big Daddy chrome find. More on that later. This is not the complete story of UC Resources but I hope it sheds some light on their activities and gives those new here some reasons to believe this is a worthy investment.

UC Resources currently has 2 main areas of interest, their gold/silver concessions and La Yesca mill in Mexico and a JV agreement with Spider/KWG in Ontario’s Ring Of Fire.

For in depth information on the companies interests and Corporate Structure please visit

UC Resources company website - http://www.ucresources.net/

Recent Financings

Feb. 17, 2010 - closes $780,000 private placement

http://www.ucresources.net/investors/latest_news_release/2010/index.php?&content_id=192

Feb.18,2010 - receives $270,000 loan facility FIFOMI

http://www.ucresources.net/investors/latest_news_release/2010/index.php?&content_id=191

Feb.19, 2010 – arranges $400,000 private placement for Xora exploration

http://www.ucresources.net/investors/latest_news_release/2010/index.php?&content_id=190

Mexican Projects

La Yesca - The La Yesca project consists of a 600 hectare mining concession which includes two previous producing gold - silver mines. The project also includes a modern milling facility designed to process 220 tonnes of feed per day. Approximately 225,750 tonnes of tailings from the historic mine workings in the project area are available to be processed. The tailings qualify as an inferred resource under NI43-101 compliancy rules.

• The past producing La Colorada mine has yielded historical silver grades between 128.4 and 555.3 g/t.
• Inferred mineral resources of approximately 225,750 tonnes of tailings with a grade of 2.0 g/t gold and 220 g/t of silver.
• A modern mill with the design capacity of processing 200 tonnes of feed per day. Once the mill modifications are complete, an estimated 80% recovery rate for both gold and silver should be achieved (historical recovery rates are 80% for gold and 50% for silver).
• Tailings processing project has a low operating and recovery cost.
• Geology is typical of other epithermal discoveries in the Sierra Madres.

In a Jan.25th news release management outlined a 4 month plan for upgrades to the mill (new ball mill) and completion of the tailings pond.

“Proceeds will be dedicated to the upgrading of the La Yesca gold and sliver tailings processing facility located in Nayarit, Mexico. These funds will facilitate the installation of a required ball mill and final construction of the already permitted tailings facility as well as changes to the process. The estimated time of the construction phase of the La Yesca mill is four months with test production being planned to begin in month three. The company intends to run the mill at a through-put rate of 220 tonnes per day with between 4-5 years of production tailings available.”

Management confirmed today (March 30,2010) that work is proceeding on schedule in spite of some equipment breakdowns (bulldozer) so indications are for production to commence in May/June. (fingers crossed)

Xora Claims – The Xora claim group is adjacent to the La Yesca mill site. In conjunction with the mill being placed into production, an exploration plan is being developed for the Xora claim which will be based on the 43-101 compliant results reported on numerous vein structures within the Xora claim group (see March 17, 2009, press release). Some highlights from that sampling program included gold consistently between .25 g/t to.8 g/t with highs of 4 g/t to7 g/t while silver showed a range of 250 g/t to 600 g/t with highs of 980 g/t to 1900 g/t. No known diamond drilling has occurred on any of the aforementioned vein structures, which are open at depth and on strike. Logistics and geophysical programs are presently being planned for the impending drill program on the Xora claim.

Note: The exploration plan has been completed “As per the recent news release (January 25, 2010), the Xora exploration plan has now been completed and will focus on the sample area that yielded up to 4 g/t to 7 g/t gold and 250 g/t to 600 g/t silver with highs of 980 g/t to 1900 g/t silver (see March 17, 2009, press release).”

Copalquin: Copalquin is a very attractive exploration target for gold and silver:

• The geology and exploration results are indicative of a potential huge, open pit system (typical of epithermal type systems). Some of the largest gold producers in the world are, in fact, open pit mines, with low grade ore.
• The epithermal system also contains high-grade vein-type deposits, which potentially can be mined with an underground mine, or recovered as part of a large open-pit mine.
• Copalquin has historical production and previous producing mines, allowing leveraged exploration. Looking for high-grade gold and silver near previous producing mines, such as the La Soledad mine, resulted in the discovery of a mineralized zone with an average of 1.4 ounces per tonne of gold and 50 ounces per tonne of silver.
• The system is on trend with other major discoveries along the Sierra Madre’s of Mexico, which is one of the world’s most prolific gold and silver mining belts.
• Mexico has a most favorable business and regulatory environment for mining and investment.

Mar Concessions: The Mar concessions has substantial merit as a potential setting for epithermal gold-silver deposits. Supporting evidence includes the following:

• The property is underlain by favourable Cretaceous-Tertiary andesite -rhyolite volcanic stratigraphy. These rocks are host to numerous small to large gold-silver deposits throughout the Sierra Madre Occidental physiographic province of Mexico.
• Major structural features (faults and lineaments) have been mapped in the region and in the vicinity of the Mar concession. Some of these features appear to be related to magnetic anomalies which may represent Tertiary age plutons intruded into the volcanic sequence. If so, then in addition to the mappable features, the intrusion of the pluton would have caused micro- fracturing of the volcanic rocks which would act as channel ways for mineralizing fluids. One such magnetic anomaly lies just to the east of the Mar concession.
• At least a portion of a past producing mine, Piedra Bola, lies within the concession boundaries. The style of the occurrence - veins and vein stockworks, the precious metals, base metals and trace metals present, and the associated silica, sericite, hematite and argillite alteration, all are consistent with the model for an epithermal precious metal deposit.
• There are several other known mineral silver - gold occurrences in the immediate area of the Mar concession, several of which were past producing mines. Silver appears to be equally important as gold. These mineral occurrences are hosted within the Cretaceous to Tertiary age andesite-rhyolite volcanic rock sequence.
• Work by Consejo suggests that other mineralized vein structures may exist within the vicinity of the main Piedra Bola vein. In addition, assays for 7 of the 8 samples collected by the Author from the dump were low grade (too low to be shipped to the Las Jimenez mill), but were nevertheless very significant (average 0.133 g/t Au and 26.5 g/t Ag).

Ontario’s Ring of Fire

As mentioned earlier, UC Resources has a Joint Venture Agreement with Spider and KWG Resources. The Option Agreement provides that UC Resources can earn up to 55% interest in these properties by expending a total of $4.5 million dollars prior to March 6, 2011. In addition UC is the operator of the exploration program during its’ earn in, after which operatorship is dictated by the terms of a Joint Venture Agreement, where operatorship resides with the party holding the greatest interest in the project. Currently UC has achieved a 40% interest and management has stated they are about $500,000 away from achieving the 55% earn in.

The Option Agreement covers the McFaulds East and West properties. Discoveries, to date, on these claims consist of VMS occurrences of copper/zinc. These are not the properties that have drawn so much attention lately in regards to Cliffs announcement of developing their Black Thor, Big Daddy chromite deposits. However, once infrastructure is in place, these copper/zinc deposits could be viable once further defined.

McFauld's #1 (16 holes drilled to date, 4,720 meters)

• Oct 23, 2003: SP3-03-007 intersected 8 meters averaging 1.6% Cu
• May 21, 2003: McF-03-08 intersected 5.68 meters averaging 3.39% Cu, followed by 4.1 meters averaging 7.64% Zn.
• April 9, 2003: McF-03-01 undercut SP3-03-007 intersected 1.43% Cu over 8.9 m, followed by 1.79% Zn over 4.7 m.

McFauld's #3 (31 holes drilled to date, 10,169 meters)

• Nov 8 2004: McF-04-57 18.8 meters of 8.02% Copper
• Oct 27, 2003: Mc-03-18 discovery hole intersected multiple zones, enriched in Zinc, averaged 4.83% Zn over 25.75 meters (also 0.51% Cu)
• May 11, 2004: McF-04-41 8.0 meters of 6.5% Copper and 3.3% Zinc
• March 18, 2004: McF-04-21 13.8 meters of 5.50% Copper

Geologist James Franklin has created this report with regards to these VMS discoveries

http://www.spiderresources.com/Reports/McFaulds_VMS_Report.pdf

Assays are still pending from the most recent drilling last October and November.

There is a great deal more information that could be added to this post, but it’s been a long day and I think this is a good start.

SRV