Universal Uranium Terminates Option Agreement at Artillery Peak

Universal Uranium Terminates Option Agreement at Artillery Peak

Universal Uranium Ltd. has terminated the option agreement dated February 10, 2006 with Artillery Peak Uranium Corp. Pursuant to the terms of the Agreement, the Company had the option to earn and acquire a 100% interest in Artillery Peak Uranium Corp.’s 86 lode mining claims totalling 1776.85 acres located 186 kilometres northwest of Phoenix, Arizona.

The termination of the Agreement is the result of a review of all available historic and company generated drill results. In general, the holes drilled to twin previous operator’s holes returned similar results and confirmed the potential for the non NI 43-101 compliant historical resource of 1.7 million pounds of U3O8. Holes drilled to expand the resource either a) failed to intersect anomalous or ore grade material or b) intersected or postulated from geology intersected that the host unit for uranium mineralization is too deep for potential economic extraction. Therefore the potential to expand the size of the deposit was severely downgraded and the option was terminated.

Universal Uranium plans to focus on its properties located in Labrador and Utah. The Company has a significant discovery in Labrador and has a resource calculation underway. The company will focus on the expansion of this discovery zone and the drilling of other high priority targets in the Central Mineral Belt, Labrador. The Company will also focus on its Lisbon Valley Project in Moab, Utah which lies within a district that was home to 17 previous mines producing over 103 million pounds of U308 with an average grade of 0.41%.

The company is currently in the process of reviewing other high quality Canadian uranium properties in order to expand the company’s portfolio and increase shareholder value.

Universal Uranium Ltd. (CDNX:UUL.V – News) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.


Ronald Atlas, President & Chairman of the Board

The Company seeks Safe Harbour.

Standard & Poor’s Listed

Issued Share Capital: 44,115,069

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


Contacts: Universal Uranium Ltd. Taylor Little Investor Relations (604) 662-3903

Email: tlittle@universaluranium.com

Source: Universal Uranium Ltd.

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