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Press
Release Source: U Mining Resources Inc.
U
Mining Resources Inc. Highlights Positive Environmental and Financial
Impact of Its Revolutionary Diesel Fuel Technology
Thursday November 1, 10:13 am ET
NEW YORK, NY--(MARKET WIRE)--Nov
1, 2007 -- U Mining Resources Inc. (Other OTC: UMNG.PK
- News)
today announced further details on its recent acquisition of a revolutionary
diesel fuel technology, which forms the cornerstone of its Green
Energy Division. U Mining acquired the rights to the fuel emulsion
technology from WUKA Service in exchange for a minority equity interest
in the Joint Venture. Under the terms of the Agreement, the two
firms will jointly develop and commercialize two innovative, alternative
light and heavy diesel fuels. The diesel fuels are less costly,
more fuel efficient, deliver higher performance and are less toxic
than currently available fuels on the market used in diesel engines
of cars, trucks, locomotives and ships and in industrial heating
appliances.
The proprietary fuel mixtures will be in high-demand in today's
industrialized world, which has set goals for reducing collective
emissions of greenhouse gases as mandated by the Kyoto Protocol
and the Asia Pacific Partnership on Clean Development and Climate.
Based on a preliminary evaluation of the fuels for medium-speed
diesel engine use, NOx emission reduced by about 7% of the baseline
fuel; CO emission reduced by about 20% of the baseline; and Smoke
level dropped to 70~90% of baseline readings. The complete experimental
results are contained in the diesel fuel technology business plan,
which may be accessed by shareholders from U Mining's corporate
website.
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U Mining also announced encouraging progress in its plans to commercialize
the proprietary technology by selling turnkey Microplant licenses.
This would allow operators worldwide to build low-cost mixing
facilities (preferably near national ports) utilizing U Mining's
know-how, equipment and proprietary surfactant; and purchasing
crude oil directly from the most cost-effective source. U Mining
will earn royalty revenue from the licensees based on the total
number of gallons produced for sale.
Finally, U Mining's Management clarified the rationale behind
its decision to terminate negotiations for the acquisition of
a Bio-Diesel plant in Texas. Management concluded that the long-term
financial success and viability of the acquisition hinged on the
Company's ability to secure majority ownership of the plant. However,
U Mining signed a letter of intent to acquire 40% of the plant
and could not close the purchase of an additional 15% of the facility.
A minority interest in the plant would have placed U Mining in
a precarious position with respect to the control of the facility,
which would be exacerbated by the onerous demands of and significant
potential liability created by the financial lending institution
involved in the transaction.
To receive information letter and be added on the Company's mailing
list, speak with one of the Investor Communications Representatives
at U Mining's Investor Relations firm Equiti-trend Advisors. Reps
are available on market days from 9:30 a.m. to 5:30 p.m. EDT by
calling (800) 953-3350.
Or visit the Company's corporate website at www.umining.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical
data, constitute forward-looking statements that involve risks
and uncertainties that could cause actual results to differ materially
from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, potential
volatility in the company's stock price, increased competition,
customer acceptance of new products and services offered by the
company, and uncertainty of future revenue and profitability and
fluctuations in its quarterly operating results. Please also be
advised that the company's stock is not currently registered with
the Securities and Exchange Commission.
Contact:
Investor Relations
Equiti-trend Advisors
(800) 953-3350
Source: U Mining Resources Inc.
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