Uracan Resources Ltd. (TSX-V: URC)

Uracan has outlined three 43-101 compliant inferred resources at its Double S Zone, Middle Zone and TJ Zone totaling approximately 40.7 million pounds U3O8 at its 100% owned North Shore Property in Quebec, Canada. The deposits are located approximately 8 kilometers north of the St. Lawrence Seaway, with electric power lines and a paved provincial highway running through the property. These open-pittable resources outcrop at surface, and are open at depth and along strike.

Management has extensive open pit mining experience from their time running Bema Gold which was taken over by Kinross for Cdn$3.5 billion in 2007. They are combining their expertise with the financial acumen of Endeavour Financial and some of the most successful mining venture capitalists in North America to develop large, open pit uranium mines in Canada. These targets have inexpensive exploration costs, and low operating costs when they become mineable.

Uracan has made a second uranium discovery at surface at its 100% owned Pipewrench Lake property in Saskatchewan, located about 120 km south of the Athabasca Basin. Drilling in 2008 intersected 1 to 3 pounds uranium per ton over widths up to 19.5 meters. Pipewrench Lake is hosted in the same Wollaston domain geology that forms the basement rock to many of the rich underground uranium mines in the Athabasca Basin - but here the domain is at surface.

Drilling continues at the North Shore property year round and it is expected that Pipewrench Lake will receive additional drilling in 2009.

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