Extension of warrants is not such a bad thing in my opinion. It certainly shows a purpose that the securities should be well into-the-money in a forseeable future. As for dilution, any flow of new cash in an exploration company comes from dilution, so... Diluted by a PP or diluted tru warrant exercice... Less hassle and less cost from the latter I believe...

A note: is it a mistake that the NR refers to FEB 11th 2010 as the warrants expiration date, since the FS indicate FEB 15th...

Another note: the NR refers to 4,875,000 warrants that were due to expire February 11, 2011. Last FS indicate 5 487 500 warrants expiring in February. Meaning that 612 500 warrants have been exerciced lately at the price of 10 cents. Good for confidence!

Last note: though low in numbers, it would be exciting if the 13 cents and 20 cents warrants due to expire in August are similarly extended... A huge signal to load!

From the June 30, 2010, UC Resources Inc Financial Statements:

As at June 30, 2010, the Company had the following outstanding warrants:

GLTA.

BaBe.