VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 18, 2007) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) is pleased to announce that it has entered into an agreement with PowerOne Capital Markets Limited ("PowerOne") pursuant to which PowerOne has agreed to offer on a best-efforts private placement basis (the "Offering") up to 5,777,778 units of the Company at $0.45 per unit and up to 3,000,000 flow-through units at $0.50 for aggregate gross proceeds of a maximum of $4,100,000. Each unit consists of one common share of the Company and one-half of one common share purchase warrant. Each flow-through unit consists of one flow-through common share of the Company and one-half of one common share purchase warrant. Each whole common share purchase warrant is exercisable for one common share of the Company at a price of $0.70 for a period of 24 months after the closing of the Offering subject to the right of the Company to accelerate the expiry date of the warrants, on not less than 30 days prior written notice, if the closing price of the common shares of the Company is at least $1.50 per share for any period not less than 30 consecutive trading days.

PowerOne will receive a commission equal to 8.0% of the gross proceeds from the sale of the Offering, payable in cash or units of the Offering, at the election of PowerOne. PowerOne will also be granted broker units (the "Broker Units") equal in number to 10% of the number of units and flow-through units sold under the Offering at $0.45 per Broker Unit. Each Broker Unit will have the same characteristics as the units in the Offering.

UC will also be independently undertaking a private financing of up to $250,000 units of flow-through units and up to $250,000 units of non-flow-through with the same terms, as stated above.

The net proceeds of the Offering would be used for a targeted and aggressive exploration program at McFauld's Lake in the James Bay Lowlands of Ontario. Due to the recent significant discoveries by Noront Resources, the Company will be utilizing the proceeds to target similar anomalies on its properties at McFauld's 1 & 3, and McFauld's West, as well as to fund its ongoing operations in Mexico.

The Agreement and the Offering are subject to receipt of all necessary approvals, including regulatory and stock exchange approvals. The closing of the Offering is expected to occur on or about November 15, 2007.

"PowerOne Capital Markets has an impressive history and a stellar reputation in the financing of leading Canadian mining companies. They have a worldwide network of contacts that they have built during their history, and UC is looking forward to a strong, long-term relationship," says Brian Gusko, UC's Chief Financial Officer.

UC Resources Ltd. is a Canadian based company exploring for base and precious metals in McFauld's Lake in the James Bay Lowlands. To date in excess of $9 million has been expended on the project, and 47 drill holes, totaling approximately 15,000 metres at McFauld's occurrences have been drilled by UC and its earn-in partners. It also is active in Mexico with exploration and production assets.

On behalf of the Board,

Brian Gusko, CFO

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings that are available at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

UC Resources Ltd.
Brian Gusko
CFO
Toll Free: 1-800-366-8566 (Canada & USA)

Website: www.ucresources.net

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