La Yesca Update

The Company remains committed to achieving successful commercial production at its tailings operation at La Yesca as one of the key goals going forward. Although we have not yet commenced commercial production the company has been actively pursuing further testing of grade, recoveries and grind solutions. The processing facility has been on care and maintenance since the test production runs of November and early December 2008 which provided results that were not profitable due to lower than expected grade and to course a grind.

Beginning in January 2009, MAG Laboratories of Tucson, Arizona were commissioned to conduct recovery testing on our tailings while simultaneously the tailings pile itself was being excavated, tunnelled and assayed to better reassess the grade of the tailings stockpile. We also have been actively reviewing and analyzing a previous successful test recovery process developed by SGS Laboratories in Durango, Mexico.

The tailings pile has now been modeled using data from the 600 samples that were recently collected and assays have been conducted both by our in-house laboratory as well as SGS Laboratories in Durango and IPL Laboratories in Vancouver. As a function of the modeling process it was also observed that the La Yesca tailings pile has an estimated non 43-101 compliant 310,000 tonnes rather than the previous 43-101 compliant (Jim Burns 2007) estimate of approximately 225,750 tonnes.

The result of all the process tests and the tailings pile assays has provided a verified solution to what we believe will be a commercially viable tailings operation, as per the original plan, for four to five years. However, the mill will require some modification and UC is presently seeking hard dollar funding and/or a joint venture partner to complete the upgrade to the mill and start the re-commissioning process leading ultimately to full production. The larger ball mill to meet better grinding targets has already been purchased but is not yet on-site or installed.

It is the company's strong belief that the La Yesca area offers significant exploration upside with a number of new veins assays already reported in the March 12, 2009 news release. In the fall of 2008 a sampling program was undertaken on various occurrences on the Xora claim which is situated three kilometres from the La Yesca mill in Nayarit State, Mexico. The area has been host to some very high grade silver mines throughout the past century and there have been 6 mines and 16 mineral occurrences in the general area and assays reported are consistent with data from historic exploration and production in the La Yesca area. The company plans extensive exploration once commercial operation is complete with the objective of providing additional material for future production making La Yesca a key strategic growth prospect for the company.

Additional exploration is also planned for the Mar and Copalquin properties once commercial production is attained plus the company has had discussions regarding future tailings production acquisitions.

McFaulds Project Update

In May 2009 Geotech Ltd. of Aurora, Ontario was commissioned to conduct a ZTEM airborne survey (deep penetrating electromagnetic (EM) and magnetic (Mag) survey) over a very highly magnetic Bull's-eye target that is located approximately 12 kilometres southwest of Noront Resources Ltd. Eagle One discovery and over the confirmed VMS targets of McFaulds No. 5 and No. 6 occurrences which are located a few kilometres south of McFaulds No. 1 and No. 3 VMS deposits (refer to May 26, 2009 news release for more details).

Preliminary results have been received that indicate the presence of an EM conductor within the highly magnetic area of the Bull's-eye occurrence and a large EM response in the area of McFaulds No. 5 and No. 6. Data is presently being refined and an inversion has been requested on both of these anomalies.

Once final data has been received and the inversion completed, Scott Hogg and Associates will be recommending drill locations on both of these very high priority targets. These targets are in addition to those being reviewed from the Mar 2009 ground gravity survey on the western side of McFaulds East block.

UC Resources has an option to earn up to 55% interest in the approximate 31,000 hectares of the McFauld's East, West and North blocks currently held by Spider Resources Inc. and KWG Resources Inc. At present the company is about $100,000 away from completing a 40% interest.

The company continues in discussion with IBK Capital Corp. to complete the previously announced best-efforts financing with the proceeds used to finance an expanded exploration program on UC's growing high priority McFaulds Lake targets and general working capital.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/... where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Vancouver Head Office

Toll Free: 1-800-366-8566 (Canada & USA) or (604) 681-7265
(604) 608-6163 (FAX)
www.ucresources.net

In an effort to keep you up to date on all pertinent information regarding the resource sector, please see the attached article titled; “Gold jumps above $970/oz as dollar weakens.”

Regards,

AGORACOM Investor Relations

Click here to view article in its entirety.

Gold jumps above $970/oz as dollar weakens

Precious metal climbs to firmest level since late February

Jan Harvey

LONDON — Reuters, Friday, May. 29, 2009 06:42AM EDT

Gold on Friday rallied through $970 (U.S.) an ounce for the first time since February in Europe as traders bought the metal as a hedge against weakness in the U.S. dollar.

Rising oil prices, reports of a pick-up in Middle Eastern demand, and firm buying in India, the world's biggest gold consumer, during the wedding season are also supporting prices, analysts said.

Spot gold was bid at $972.60 an ounce at 0923 GMT, against $958.80 an ounce late in New York on Thursday.

April 24 (Bloomberg) -- China boosted its gold reserves by 76 percent since 2003 and has the world’s fifth-biggest holding by country, said Hu Xiaolian, head of the State Administration of Foreign Exchange.

The nation increased its reserves by 454 tons to 1,054 tons through domestic purchases and refining scrap metal, Hu said in an interview with the Xinhua News Agency today. The amount is more than Switzerland’s 1,040 tons, World Gold Council data show, and is worth $31 billion at current prices.

China has the world’s largest foreign exchange reserves at $1.95 trillion as of March 31, according to state administration data. The holdings have climbed about sixfold in the past six years as the country had record trade surpluses and inflows of foreign investment. Gold prices have almost tripled to more than $900 an ounce from $337.

“Chinese foreign-exchange reserves have absolutely exploded in the past few years,” said Jan Lambregts, head of Asia research at Rabobank International in Hong Kong. “We shouldn’t be surprised that they’re adding a lot of all asset classes. I don’t think they’re shifting away from U.S. dollars into gold.”

Gold climbed to a record $1,032.70 an ounce on March 17 last year and traded 0.9 percent higher today at $912.08 an ounce at 3:18 p.m. local time in Singapore.

Debt Holdings

Chinese Premier Wen Jiabao has expressed concern the dollar will weaken, eroding the value of China’s holdings of Treasuries, as the U.S. borrows unprecedented amounts to spend its way out of recession. China is the biggest overseas owner of U.S. government debt, holding notes totaling $744 billion at the end of February, according to U.S. data.

Jesse Wang, executive vice president of China Investment Corp., has said the nation’s $200 billion sovereign wealth fund may invest in “undervalued” commodities. Zhang Guobao, head of the National Energy Administration, said China should invest more in commodities instead of hoarding the dollar, Xinhua reported on March 7.

China, the world’s biggest gold producer, has increased its holdings before, Hu said in the interview carried on the administration Web Site. They rose from 394 tons to 500 tons in 2001 and to 600 tons in 2003, it said. China has told the International Monetary Fund of the recent changes and the new amount will be reflected in the central bank’s balance sheet and statistical reports, it said.

‘Support Prices’

“This shows a change in attitude in Asian central banks,” said Si Kannan, associate vice president at Mumbai-based Kotak Commodity Services Ltd. “While the IMF is selling gold, Asian central banks are diversifying into gold. That’s a good thing, in times of dollar uncertainty and the global volatility in the forex market,” he said by phone from Mumbai today.

China’s gradual increase in gold reserves and increasing jewelry demand from China and India “will support gold prices,” Kannan said.

The IMF said April 3 there had been no talks about selling more gold than the 403.3 tons proposed a year ago. Leaders from the Group of 20 said the day before that revenue from previously proposed gold sales would be used to help the world’s poorest countries. The IMF board approved a proposal in April 2008 to sell 403.3 tons of bullion as part of a plan to close the Washington-based lender’s annual deficit.

“My opinion has always been that China should increase its gold holdings,” Hou Huimin, vice chairman of the China Gold Association, said by phone from Beijing today. “China should strive to play a more proactive role in the global financial market by adding more gold.”

The U.S. has the world’s biggest gold holdings at 8,134 tons, followed by Germany with 3,413 tons, World Gold Council data show. France has 2,487 tons and Italy 2,452 tons, while the IMF has 3,217 tons, according to the council.

To contact the reporter on this story: Eugene Tang in Beijing on eugenetang@bloomberg.net

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Q - When Billiken Management pulled out the previous drill core to check with the Gun Analyzer for Chromium, what was the result from their findings?

A - No significant change or comment at this time.

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Q - Is LaYesca just a bad memory, or is it still expected to be producing silver in the near future?

A - La Yesca production is one of the company’s primary objectives and the expectation of production has not changed. Tailings piles are never consistent in grade and tenor and always present more production challenges than run of the mine feed material.

At present, a significant re-sampling program has been completed with hundreds of samples processed, the company has pursued a certified recovery process solution to the altered conditions that assure profitable operation and this has taken numerous test cycles of various extraction methods, and the company is now costing the changes required to re-initiate the commissioning of the mill.

Some of the findings from the review are that the recovery process is now geared to a lower grade recognizing a wider grade variability exists than previously anticipated, the top 25 feet of the tailings has been removed because of discovery of lower grade, the grind of the tails was not sufficient and length of leaching time has been significantly altered.

The company expects MAG Laboratories in Tucson AZ to provide a final process verification in the next 2 weeks and if the board approves the go forward plan including availability of capital, an expected re-commissioning date would be between two to three months.

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Q - Please tell me when the La Yesca mill will be in production.

A - This depends on board approval of the re-commissioning plan and capital.

Q - Why do we not get monthly updates on the progress?

A - Updates are given when significant progress or events warrant. Most actions are long term in nature and a month is a nothing time span.

Q - What is the expected time line for the re-testing of core samples looking for chromite.

A - Assays will only be pursued if the re-logging confirms it’s warranted.

Q - Is there drilling activity planed for 2009 on any of the Mexican properties?

A - As funds are available the Xora claim and others properties will be explored further which would include drilling. Xora is certainly a key component of the company’s Mexican development strategy over the next few years. The two primary corporate objectives are La Yesca production and completing the earn-in at McFaulds.

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Q - Could you specify which area you predict there is higher probability of chromite in ROF?

A - At the moment the company has completed a gravimetric mag as well as a ground gravity survey on a portion of the west side of our east block that borders Noront Resources and results are pending.

Q - How is our cash flow?

A - We are an exploration company with no income as of yet. Cash flows out only.

Q - Any major like Cliff approach/interested in UC?

A - We have talked to a number of parties regarding our McFaulds property assets and this is an ongoing constant process.

Q - What are we going to do with the past 3 years drilling result in ROF? Are we going to drill near that area again?

A - Drilling on VMS targets McFaulds #1 & #3 are completed for now. A possible target in the area would be McFaulds #5 which is believed to be a VMS occurrence that merits some additional work.

Q - I remember UC did the most drilling work 3 years back but stopped, how is this year drilling plan?

A - Provided that funds are available, we intend to drill potential chromite targets on the west side of our east block. We have about ten kilometers of strike length along the Noront Resources boarder that appears to hold potential for chromite.

Q - Is there a chance we hit diamond in ROF?

A - Yes on the outside of the ring.

Q - When and where will be the AGM?

A – Vancouver and most possibly December 11, 2009.

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Q - Are there just tailings challenges putting a KINK in the Mexico situation or is there more to inform us on?

A - We have no issues with Mexico or the Mexican governmental authorities and only the issues relate to those discussed above.

----------------

Q - Has UC been approached by Cliffs or any major to do a deal of any kind?

A - See previous answer

Q - What is your most valuable project and what is your plan to develop that project?

A - Excellent question. Both La Yesca/Xora and the James Bay Lowlands are considered equally important for different reasons. Mexico offers production and profit possibilities near term with lots of future gold/silver production possible while the “Ring Of Fire” offers blue sky exploration possibilities as this area continues to emerge as a major mining exploration camp.

Q - Why are you buying UC stock is it undervalued in your opinion?

A - I, like you, buy stock to sell at a profit. I’ll be praised for buying it and cursed when I sell it. I had a target that I wanted to own, and I now own it. If I didn’t think it was undervalued I would not buy it!

Q - As an investor why should I buy UC over any other ROF stock.

A - This question has many facets and I could expound for hours but it boils down to the UC/SPQ/KWG block of land is huge and very under explored and on trend with all major discoveries to date plus has numerous VMS discoveries to date. The only thing better than location location in the mining exploration business, is having a huge land position in the right location. Small property parcels offer small possibilities. Anyone attempting to consolidate this exploration region will look for location and size and from this prospective the UC land package is high on any list. Larger companies will not want to consolidate to make others properties worth more and more expensive to acquire. The exploration process in the “ROF“is very expensive and must be done with diligence and patience. We are systematically developing areas of interest to target. That scope will broaden if a significant discovery is made.

Q - You can run a mill this is proven do you have any plans to set up a facility at ROF and mine and process your own ore would this be a possibility or at least operate one or concentrate chrome ore before shipping if needed.

A - This is putting the cart before the horse as a chromite discovery has not occurred. The size and the scope of any potential McFaulds development project is far beyond the scope of our operations in Mexico and would require the expertise of a much larger base metal mining firm.

Q - Where do you see UC at in 2009-2010 and looking forward in the next couple years what will be UC's position in the Ring Of Fire.

A - Well, that’s a big question with a great deal of variables. My vision for the future is to complete our earn-in at McFaulds and explore the “ROF” to the best of our ability, hopefully culminating in a discovery worth development. In Mexico, once La Yesca is running as expected, the company would like to add further small production assets that are of interest while exploring for larger discoveries on it’s extensive land positions in La Yesca/Xora, Copalquin, Mar, etc.

Please note, UC Resources will be conducting an online Q & A Session. Please submit your questions to UC@agoracom.com with the subject: “Please add to Q&A.”

The answers will be provided in text format by no later than Friday April 3^rd.

Regards,

AGORACOM Investor Relations

Please note there are several photos of the La Yesca mill available here.

Regards,

AGORACOM Investor Relations

CONTACT INFORMATION: UC Resources Ltd. Vancouver Head Office Toll Free: 1-800-366-8566 (Canada & USA) or (604) 681-7265 Fax: (604) 608-6163 Website: www.ucresources.net

Each flow-through share consists of one common share of the Company. Each hard dollar unit will consist of one share and one-half warrant. One full warrant allows the holder to acquire one common share of UC at a price of $0.15 for a period of 24 months from the date of issue.

Proceeds raised through this private placement will be used to finance an expanded exploration program on UC's projects at McFaulds Lake and general working capital purposes.

UC Resources is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, plus an explorer and a near term producer of precious metals in Mexico.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Vancouver Head Office
Toll Free: 1-800-366-8566 (Canada & USA)

In the fall of 2008 a sampling program was undertaken on various occurrences on the Xora claim which is situated three kilometers from the La Yesca Mill in Nayarit State, Mexico.

The claim is considered a very interesting prospect by the company as the area has been host to some very high grade silver mines throughout the past century. There have been 6 mines and 16 mineral occurrences in the general area.

Three near vertical vein structures appear to be present and have been exposed by historic miners on the upper part of a vertical rock face of approximately 500 meters.

The Las Cuatas, El Mirador and La Colarada historic excavations appear to be spread evenly apart from one another by approximately 200 meters and the mineralized veins seem to be trending almost exactly north-south. Approximately one km to the south the El Manguito vein can be seen from the previously mentioned historic excavations and appears to be striking in the same direction.

An extensive reconnaissance and sampling program was undertaken, and significant values of gold and silver were returned. Management notes that some of the samples netted close to 2,000 grams per tonne AG These extraordinary grades are consistent with data from historic exploration and production in the La Yesca area.

Assay results for Las Cutas, El Mirador and El Manguito

The La Colarada Mine was not sampled due to time constraints. In 1985 the Mexican Ministry of Mines conducted a wall rock sampled program on all three levels of the La Colorada mine and produced a non 43-101 compliant inferred resource of 11,700 tons grading .7g Gold and 619g Silver.

Numerous other occurrences are apparent on the Xora claim that have been mined to a lesser extent and have not fully been investigated.

No diamond drilling has occurred on any of the aforementioned vein structures, which are open at depth and on strike. Management intends to launch an extensive exploration program in the future on the Xora claim given the successful results obtained by the recently completed sampling program.

Brian Newton, PGeo (Ontario), is the qualified person (under National Instrument 43-101) responsible for the preparation of this news release.

All samples assayed by ALS Chemex(i)

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Vancouver Head Office

Toll Free: 1-800-366-8566 (Canada & USA)

Website: www.ucresources.net

New gold supply is price inelastic. If you double the gold price, production will fall as miners extend precious mine life by processing lower grades through fixed rate capacity. Building new capacity is the work of decades. Re-opening old mines is difficult and expensive and there are few worthwhile opportunities which have not been exploited. Meanwhile, discovery rates are declining, discovery costs are rising, mines are depleting and production is falling at about 5% per year. The world's best gold deposits have been found and mined.

Gold's highest and best use is in a vault as a store of value. It is not a commodity. Jewelry 'consumption' of gold is a traditional store of value. The industrial/medical uses of gold are diminimus. If gold had important other uses, there would be less of it and the price would be lower because it would be valued as a commodity subject to substitution effects. No other substance has the unique properties and a supply sufficient to act as an ultimate store of value which is why gold has had this role for at least 6000 years.

Gold is therefore a financial asset in physical form and sometimes a currency. It goes up in price when confidence in other financial assets [stocks, bonds] is falling and falls when confidence in these alternatives is rising.

Other financial assets have the advantages of convenience and income. Gold's advantage is that it is final settlement anywhere in the world. Gold backs itself whereas other currencies and financial assets merely represent, and depend upon, the countries and companies which issue them and stand behind them. Gold is a currency without a country or central bank...there is no issuer to inflate supply or default on its obligations.

There are approximately USD 140 trillion in other financial assets world-wide so the current value of above ground gold is about 4% of this total. In 1980, when inflation weakened confidence in stocks and bonds, the ratio was greater than 25%. It currently requires about 8 ounces of gold to buy the Dow, down from 44 in 1999. In 1980, the ratio reached 1 to 1.

Gold has no P/E or other standard valuation metric. Its price can go where the market decides. How much will the owners of USD 140 trillion in financial assets pay to protect themselves from deflation, inflation or default?

James S. Anthony
February 13, 2009

Other metals were mixed Tuesday. March copper slid 2.9% to $1.53 a pound, while March silver rose 1% to $13.255 an ounce. March palladium gained 0.5% to $213.15 an ounce, and the April contract for sister metal platinum added 2% to $1,056 an ounce.

Moming Zhou is a MarketWatch reporter based in New York.

At the closing the Company paid a finder's fee to PowerOne Capital Markets Limited in connection with the sale of 2,500,000 units consisting of a cash commission equal to 8% of the proceeds raised and compensation options exercisable to purchase 200,000 units, at a price of $0.10 per unit, for a period of two years, each unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole warrant exercisable to purchase an additional common share at a price of $0.20 for a period of two years following the closing.

All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units and any shares issued upon exercise of the compensation options and underlying warrants, are subject to a hold period and may not be traded in Canada until April 12, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

UC Resources Ltd. is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, and an explorer and a very near term producer of precious metals in Mexico.

BY ORDER OF THE BOARD OF DIRECTORS OF UC RESOURCES LTD.

Jim Voisin, President

We seek safe harbour.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Vancouver Head Office

Toll Free: 1-800-366-8566 (Canada & USA)


Website: www.ucresources.net

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION: UC Resources Ltd. Vancouver Head Office Toll Free: 1-800-366-8566 (Canada & USA) Website: www.ucresources.net

November of 2008 has been a dark time for the “little guys” of the worldwide mining business. However, during the height of the panic sell downs in October and November, when investors sold anything and everything out of terror into virtually no bids; as prices for the small, but promising miners and explorers literally fell from dollars to mere pennies, some of those miners and explorers saw exceptionally strong buying from one very important, very telling source: company insiders. More about that below, but first a very sober damage report.

A flood of blood in the streets in Canada

It is difficult to imagine how the chart below could look any uglier. The chart is the S&P Canadian TSX Venture Exchange or CDNX. This is the index which is the closest gauge to what is happening in the small resource sector.

Just since July the CDNX plunged a 5-month record 74%. Never before has the CDNX traded at such low levels relative to gold metal. Indeed, as of Friday, November 28, the CDNX was trading below where it traded at the bottom of the gold bear market in 2001; lower than when gold changed hands for just $255.00 the ounce.

To put things in harsh perspective, below is the CDNX compared to gold monthly since the previous gold bear market ended in 2001. As recently as May of 2008 the CDNX divided by the price of gold held a ratio of about 5.0. As of last week, the ratio had fallen so far, so fast that it had dropped to under 1.0.

Even back at the end of the great 20-year bear market for gold the ratio couldn’t drop below 2.7. If the ratio was 2.74 in late 2002, when gold traded for $270 (it was), then last week’s all time CDNX low of 685.07 had the Canadian miners and explorers trading as though gold metal was at $222.00. Silver was just over $4.00 in Late 2002. So the CDNX was discounting silver to something like $3.30 the ounce.

Dysfunctional markets

What we have just witnessed is the reverse of a short squeeze. We just saw a panic liquidation. So many people, funds and investors selling in panic when there were very few buyers. When there is strong selling pressure into no buying; when the market is skewed in favor of the short sellers so severely; when there is essentially no market for something, the market becomes dysfunctional and can go to the most severe of excessive overshoots to the downside.

This report believes that is exactly what has happened in the small, less liquid and very speculative markets for miners and explorers. Some investors panicked, so convinced by the dire and worsening economic news between July and November that the world was once again plunging into a deflationary depression, that they just wanted to preserve what little cash remained in their shares of these companies.

As more and more sold into fewer and fewer buyers, ruthless Bermuda, Bahamas, Russia and Germany-based short-selling sharks (working through enabling Canadian and Frankfurt broker/dealers) kept relentless pressure on these little companies, helping to drive them to levels so low they defied all reason. In many cases companies have been driven to well below their cash on hand regardless and despite the company having viable, economic resources. Companies were looked at solely on the basis of their net cash, cash versus their pending liabilities and then discounted! No value was assigned for reserves or resources as The Worst unfolded.

It’s about liquidity

One severe problem has been simple liquidity. The trading float on many of these Canadian companies is quite large relative to the number of shares which change hands each day. Many of them are or were owned by funds of all sizes. Funds held millions of shares of companies that only usually traded a few tens of thousands of shares daily or even weekly. Funds that either blew up or were forced to sell off large blocks of the small companies at precisely the time when there was no one buying. That is bad medicine for stock prices.

The seemingly inexplicably huge drops in price accentuated the panic. The Worst had happened. Stockholders watched in horror as their beloved small junior resource companies fell in huge percentages on relatively light volume, day after day, after day. Fear ruled so much and so pervasively that the small resource sector became a killing fields for investors.

The net effect has been that the entire illiquid Canadian market has become a distortion of value instead of a measure of it for the resources sector. This report still believes that it has also become one of the best opportunities we will ever see in this generation. That’s if all the economic stimulus and government meddling in the financial markets manages to do no more damage and we see a recovery of even a fraction of the confidence that these markets used to enjoy.

Tax loss selling big business in Canada

Right now tax loss selling is a major drag on the CDNX, both in Canada and in the U.S. It is especially a factor in Canada, because liberal tax laws there allow investors to recover taxes paid in prior years by taking losses this year. That’s true even for the largest holders, for which the shares became more valuable as a tax write off in Canada than for the future prospects of the company.

When investors (taxpayers) can reclaim tax money they paid two or even three years ago, hard cash, from the government by taking a tax loss today, it has to increase the amount of tax loss selling immensely. Remember that during December. It’s why there is a rush to do significant tax loss selling in Canada in October and November.

So there really is a deluge of blood in the streets in the small resources sector. Panic selling, fear of financial Armageddon, funds blowing up or raising cash for redemptions, forced selling, short selling opportunistic sharks and tax loss selling – all into nonexistent buying – has created the mother of all CDNX plunges and, hopefully, one of the best opportunities ever.

There is one group of investors that certainly has been buying into all the brutal carnage during October and November. They have been buying as never before and are what many feel are the smartest money in the markets, too. The big buyers are insiders of the companies themselves.

Insiders buying like crazy despite the dismal CDNX

While we have witnessed a reasonably good bounce on the HUI over the past few trading days (the HUI was up another 16% last week and, as of Friday, November 28 was actually up 64% from its Oct 10 bottom), the small Canadian resource companies barely registered any gain at all. While worrisome, it is not unexpected since so many of the best names in the resource business have been taken down to such amazingly cheap levels.

Money floods back into the best first after a brutal plunge. Only after that; only after a little confidence returns, will investment money flow seek the more risky, more speculative, but potentially much more rewarding companies on the Canadian exchanges.

When compared to the HUI, the CDNX shows a dismal performance so far.

As the Big Markets attempt to find a little confidence, let's be thankful for that. As each of you spends the quality time with family this holiday season, as is meant to be, here's a ray of hope for beleaguered, battered and beaten up Canadian junior miners and explorers.

Below is a chart of the buying/selling activity by insiders, the officers, directors and employees of Canadian companies provided by INK Research.

Source INK Research. Note: Since this graph was created, the ratio rose even higher, to 546% as of November 26.

Insiders: “Damn the torpedoes, buy, buy, buy”

Officers, directors and employees of companies can be the smartest money to watch. They are obviously in position to know whether or not their company has been mistreated by the market, whether or not their company has "things about to happen," whether or not their company is "onto something big," and, of course, whether or not their company is about to close their doors and pack it in.

In Canada, insiders are required to report all changes in their ownership positions in a timely manner. INK Research tracks those changes in insider ownership.

Nothing says "I think my company is cheap," louder and more believably than when the insiders are buying the common stock that management has already given them many options on for free. Nothing says more about what the expectations of a company's prospects are than when insiders are buying in large numbers of shares and in multiple transactions when the stock is down big (very good), or, conversely, when the insiders are selling in large numbers and often once the stock has been pummeled (very bad).

The above chart tracks the 60-day movement of Canadian companies reporting 100% buys by insiders versus companies reporting 100% sells by insiders. When this indicator is at 200%, that is a very high and usually bullish reading, such as it was back in January. Rarely does this 60-day indicator ever rise above 200%, as that indicates a very grossly oversold market in general. Remember: company stock is more often sold by insiders than bought, as stock is a form of compensation to the executives and employees of so many of these companies. So, when we see this 60-day index as high as 200% that is unusual, it is something out of the ordinary. It is screaming that insiders think Canadian stocks are way undervalued.

Well, the panic selling of all things risky accelerated in September-November. As people fearfully (and foolishly) sold anything and everything into virtually no bids, driving the share prices of many of the Canadian companies down to below-basement levels, (literally from a few dollars to mere pennies in so many of them it boggles the mind), this insider buy/sell tracking index rose right through 200%, but it didn't stop at an unheard of 250%, or even 300%. It didn't even slow down in its gigantic rise when it hit a stratospheric 350% or 400%. No, friends, this index has reached the positively, amazingly high level of over 500%!

Right or wrong, Canadian insiders think their stocks are bloody dang cheap as of Thanksgiving Day in the U.S. And, they are saying that in a most believable way: with their money.

Want to check the last 10 insider transactions on your favorite Canadian company for free? Here's the link.

Just type in the symbol in the upper right box without the exchange tag. Example: Almaden Minerals is AMM.T in Canada, but on the INK Research site just type "AMM." Gold Port Resources is GPO.V in Canada, but just use "GPO" in the INK Research search box.

With the share prices of so many companies so very low, resource investors will want to see the insiders buying and buying in large numbers on their favorite Canadian companies. That's if they want to be more confident they can come through the Cat-5 stock hurricane of 2008.

The way to view so many of the small miners and explorers at this point is that they represent inexpensive options. Very inexpensive in some cases. Options that don’t expire unless the company does.

Sure, many of the companies will not survive the brutal destruction of value we just endured. Some will, though, and if they do, they could turn into the proverbial 20 or 30-bagger every stock speculator dreams about.

Right now, when there is truly blood in the streets, seems like a very good time to see which companies have executives that think enough of the company’s prospects to risk their own cash money on their own company when the chips are way, way down. Which execs are buying these long-term “options” that trade like stock on the Canadian stock exchanges.

It’s also a good time to see which companies have execs that are throwing in the towel.

That’s it for this special Got Gold Report. Until next time, as always, MIND YOUR STOPS.

At the closing the Company paid a finder's fee to Limited Market Dealer Inc. consisting of a cash commission equal to 6% of the proceeds raised and compensation options exercisable to purchase 800,000 units, at a price of $0.10 per unit, for a period of two years, each unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole warrant exercisable to purchase an additional common share at a price of $0.20 for a period of two years following the closing.

All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units and any shares issued upon exercise of the compensation options and underlying warrants, are subject to a hold period and may not be traded in Canada until April 3, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

UC Resources Ltd. is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, and an explorer and a very near term producer of precious metals in Mexico.

About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Vancouver Head Office

Toll Free: 1-800-366-8566 (Canada & USA)

Website: www.ucresources.net

Given the huge slump in the values of gold exploration stocks over the summer he has, once again, been proven correct. However, the Swiss born investment guru is now preaching with all the enthusiasm of a convert to the cause.

Please click here to view the article in its entirety.

Regards,

AGORACOM Investor Relations

A commission of 6% in respect to the gross proceeds received will be paid and compensation options equal to 8% of the number of units sold may be issued to finders. Each compensation option shall be exercisable at a price of $0.10 into one compensation unit for a period of two years from the date of closing. Each compensation unit will consist of one non-flow-through common share and one-half of one non-flow-through share purchase warrant. The warrants will have the same exercise price and terms as the warrants issued to the subscribers.

"We are very pleased to be entering into this relationship with MineralFields Group," said Jim Voisin, President and CEO. "This is an important milestone in the growth of UC Resources Ltd. and we look forward to working with MineralFields Group as we continue to develop our holdings in the McFaulds region."

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

In addition to the private placement with the MineralFields Group, the Company is also pleased to announce it has reached agreements for the sale of an additional 3,500,000 flow-through units to raise additional proceeds of $350,000, on the same terms and conditions of the MineralFields Group private placement.

UC Resources is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, and an explorer and a very near term producer of precious metals in Mexico.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Jim Voisin
President & CEO
Toll Free: 1-800-366-8566 (Canada & USA) or (604) 681-7265
(604) 608-6163 (FAX)
Website: www.ucresources.net

Business Summary

UC Resources is a Canadian exploration, development and production company which has an opportunity-driven acquisition strategy. Its main focus is on production and exploration opportunities in Mexico. However, it will also be active in Canada on a very select basis on exploration projects, which have the potential to add significant shareholder value.

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 two hundred (200) tonnes of feed per day.

Approximately two hundred twenty five thousand and seven hundred fifty (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 mill is being immediately upgraded and modified to achieve higher recovery rates for the extraction of silver from the tailings currently being processed.

To read the complete report, please see our web site at http://ucresources.net/_resources/UC...

Click here to view the AGORACOM Blog.

Regards,

AGORACOM Investor Relations