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Message: News re: Crescent Mine
CNSX: UMG Jul 14, 2010 09:00 ETUMG Opening New Portal at Crescent Silver Mine, Idaho VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2010) - United Mining Group, Inc. (the "Company" or "UMG"), (CNSX:UMG) announces that it is completing a new portal into the upper country of the Crescent Silver Mine and rehabilitating sections of the Hooper tunnel. The Crescent Mine has an NI 43-101 indicated silver resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred silver resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver). Portal Construction To facilitate portal construction, the Company has purchased a 10.01 acre parcel of land upon which part of the Countess claim is located. UMG has secured a land disturbance permit from Shoshone County and has built the access road into the site, is excavating the overburden and stabilizing the hillside. Equipment for the underground construction of the ramp is now mobilized to the site. The completed ramp is expected to provide access to the Alhambra Vein and the South Vein resource in the upper country of the Crescent property that was identified through an earlier drill program performed by SNS Silver. The portal is expected to ramp through the upper country 800 feet to the Alhambra Vein, then turn and drive another 1400 feet to the South Vein. Projected completion time is approximately 4 months. Exploration Drilling The Company has also been rehabilitating sections of the Hooper tunnel with plans to extend the Hooper track drift an additional 1,100 feet to perform further exploratory drilling on the South Vein from the Hooper level. A second rehabilitation crew has been added to expedite the progress on rehabilitation of the Hooper Tunnel. For a complete diagram of the Crescent Mine, please click: http://www.unitedmininggroup.com/crescent-mine.php About United Mining Group United Mining Group is a vertically integrated mining company with operations in Idaho, USA, combining both mining services and a significant interest in the Crescent Silver Mine earning $15.7 million revenue in 2009. The Company has an option to acquire an 80% interest in the Crescent Silver Mine, located in the Silver Valley, Idaho, the second largest silver district in the world. The Crescent Mine has a NI 43-101 indicated silver resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred silver resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver). The Crescent Silver Mine has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010). The Company offers a full suite of mining services including contract mining, contracting/construction (including mine remediation), and fabrication and machine services. The Company owns its own custom welding and fabrication shop, allowing it to repair/rebuild its own equipment and supply outside customers. In 2009, Mining Services generated $15.7 million revenue and $3 million operating income. UMG is committed to building a senior silver producing mining company based on aggressive exploration and development of the highly-prospective Crescent Mine and through additional acquisitions in the Silver Valley and other silver districts. For more information about the Company, please visit: www.unitedmininggroup.com. In compliance with NI 43-101, Lawrence Dick, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release. On behalf of the Board of Directors of United Mining Group, Inc. Greg Stewart, President, CEO and Director
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