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Press
Release Source: U Mining Resources Inc.
U
Mining Resources Inc. Signs Contract to Manage Large-Scale Mining
and Infrastructure Projects in West Africa
Thursday January 3, 11:26 am ET
U Mining's Project Management Team to Meet With Prime Minister to
Sign Final Binding Agreement
NEW YORK, NY--(MARKET WIRE)--Jan 3,
2008 -- U Mining Resources Inc. (Other OTC: UMNG.PK
- News)
today announced that it has signed a multi-level contract with a
local developer for the large infrastructure redevelopment project
planned in an emerging West African nation.
Comitrag, a private building and development company headquartered
in this yet announced country of West Africa, was chosen by U Mining
to handle the initial stages of the redevelopment project as well
as certain portions of the planned mining and resources extraction
program. U Mining has chosen to keep specific details of this pending
contract, including the name of the country they've been working
with, confidential for the time being in order not to jeopardize
this developing relationship and the ongoing negotiations.
The final terms of the agreement comprise the assignment of a management
contract to Comitrag for the building of multiple segments of the
infrastructure redevelopment, as well as a joint venture agreement
to commence a major mining extraction program in partnership with
the federal government.
The revenues generated from the exploitation of the mine will provide
the Government with sufficient working capital to cover the cost
of the infrastructures. The infrastructure projects are extremely
important to this emerging West African nation; enabling the transport
of the country's abundant oil and gas reserves from land-locked
districts to a major port located on the Atlantic Ocean. The establishment
of a more balanced import/export infrastructure is critical to this
nation's prosperity in the 21st century.
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U Mining is in the process of identifying and retaining key project
personnel that will be deployed immediately upon approval of the
agreement. U Mining's management team is confident that this contract
will significantly enhance the Company's financial position and
increase shareholder value in 2008.
To be added on the Company's mailing list, please speak with
the Investor Communications Representatives at U Mining's Investor
Relations firm Equiti-trend Advisors. Reps are available from
9:30 a.m. to 5:30 p.m. EST daily by calling (800) 953-3350. Interested
investors are also encouraged to visit the Company's corporate
website regularly for updates 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:
Contact:
Equiti-trend Advisors
(800) 953-3350 U.S. & Canada
(858) 436-3350 Local
Source: U Mining Resources Inc.
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