UC

UC Resources Ltd. (TSX VENTURE:UC) ("UC" or the "Company") is pleased to
announce that it has entered into a definitive agreement (the "Purchase
Agreement") with Freewest Resources Inc. ("Freewest"), a wholly owned subsidiary
of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"), for Freewest
to acquire 100% of the UC owned 55% Joint Venture Interest in the McFaulds Lake
area property (the "Joint Venture Interest"), subject to and in accordance with
the Joint Venture Agreement dated as of July 26, 2011 (the "Joint Venture
Agreement") between KWG Resources Inc. ("KWG"), Spider Resources Inc. (now named
Cliffs Chromite Far North Inc.), a wholly owned subsidiary of Cliffs ("Spider"),
and UC.


The purchase price payable to UC by Freewest is $6,000,000 CDN ($6 Million),
payable by deposit of $850,000 on the signing date followed by the balance on
the closing date.


Pre-Emptive Rights of KWG and Spider

KWG and Spider each has a pre-emptive right under the Joint Venture Agreement in
respect of the transfer of the Joint Venture Interest on the same terms as set
forth in the Purchase Agreement.


Under the Joint Venture Agreement each of KWG and Spider have forty-five (45)
days from the date notice is delivered in accordance with the Joint Venture
Agreement to notify UC whether it elects to acquire the Joint Venture Interest
from UC for the same consideration and on the same terms and conditions as set
forth in the notice and the Purchase Agreement. Notice will be sent to each of
KWG and Spider forthwith. If either or both of KWG and Spider exercise their
pre-emptive rights, then Freewest will not acquire the Joint Venture Interest,
and KWG and/or Spider, as the case may be, will acquire the Joint Venture
Interest.


The closing of the sale is expected to occur early in the first quarter of 2012.

The Purchase Agreement and the transactions contemplated thereby are subject to
the acceptance and approval of the TSX Venture Exchange.


UC Resources Ltd.'s CEO, Gary Monaghan states, "We are pleased with the outcome
of this transaction, and believe that McFaulds Lake represents what could be an
exceptional play for companies of certain size and ability to fund, drill and
exploit this long term resource. The Company values our shareholders and
believes, as far as UC is concerned, our focus is best directed in Mexico. Full
time concentration on the leveraging of the Company's major assets in Mexico
will be the best possible course of action for the Company to take in these
markets."


UC Resources is an active explorer of base metals and chromite in the McFaulds
Lake area ("Ring of Fire") of the James Bay Lowlands, Ontario, as well as an
explorer and producer of precious metals in Mexico.


On behalf of the Board of Directors,

Gary Monaghan, CEO

We seek safe harbour.

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 news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the terms of the
Purchase Agreement and other future plans, objectives or expectations of the
Company are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's plans or expectations include
risks relating to general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other risks
detailed herein and from time to time in the filings made by the Company with
securities regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise except as otherwise
required by applicable securities legislation.

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