notice received nc, page-8

ASX Release 20 December 2007 ASX Code: UMC
DRILLING UPDATE - PILBARA IRON ORE PROJECT
VISUAL INSPECTIONS INDICATE CONTINUITY OF MARRA MAMBA IRON ORE MINERALISATION BETWEEN DRILL HOLES
The Company is pleased to announce the successful completion of its initial diamond drilling program at the Railway Prospect – Juna Downs. Four drill holes, being UI 031, UI 032, UI 033, and UI 034 on north-south section 673080mE were successfully re-entered and deepened. Drilling continued until hard BIF / chert was intersected in each hole. Details are as follows:
Hole UI 031: Core drilling from 68.1m to 102.0m, End of Hole
Hole UI 032: Core drilling from 40.5m to 120.3m, End of Hole.
Hole UI 033: Core drilling from 52.0m to 84.9m, End of Hole.
Hole UI 034: Core drilling from 40.5m to 81.9m End of Hole.
Significant Marra Mamba style iron ore mineralisation was intersected in all drill holes, establishing geological continuity of iron ore mineralisation between drill holes UI 031 and UI 035. The Company has made arrangements to expedite the assays of the core material. Results are expected some time after mid January 2008.
The Directors believe the latest drilling results show that the Railway Prospect – Juna Downs has significant potential for large tonnages of Marra Mamba style iron ore mineralisation. Diamond drilling will recommence in mid January, leading up to the 20,000m RC drilling program due to commence at the start of April 2008.
Matthew Hogan
CEO / Director