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AUDIO: Universal Resources Limited (ASX:URL) ROSEBY SEEP JV 2,550M FOLLOW-UP DRILLING TO TEST SULPHIDE MINERALISATION AT BLACKARD

Perth, Oct 15, 2008 (ABN Newswire) - The Roseby Copper Project, located approximately 65KM NNW from Cloncurry, Queensland, is owned 100% by Universal Resources Limited (ASX:URL) and is the subject of the Sulphide Extension Exploration Project Joint Venture ("SEEP") with Mount Isa Mines Limited ("Xstrata Copper").

Listen to the Audio Cast with Executive Chairman Peter Ingram

Details of the agreement with Xstrata Copper have previously been reported to ASX. Pursuant to the terms of the agreement, Xstrata Copper is currently sole funding exploration expenditures within the SEEP Area.

Proposed Drilling Program

Xstrata Copper have advised the Company that a program of 6 diamond drill holes for 2,550m of drilling has been planned to further test the intersections made in drilling earlier this year (reported to ASX on 12 August 2008) and to test the mineralisation concepts developed on the basis of those results. The new program commenced on 11 October 2008 and is expected to be completed before the end of the year.

Blackard Copper Deposit

Wide zones of high grade copper sulphide mineralization were intersected by Xstrata Copper at depth below the Blackard native copper resource at Roseby. The intersections were made during recent drilling as part of the earning requirements of the Sulphide Extension Exploration Project (SEEP). The programme was designed to test the Blackard and Legend deposits at depth.

Multiple zones of high grade copper were encountered on three section lines within a strike length of 450 metres at Blackard, as listed below.

Hole BCD 850

- 72 metres @ 0.90% copper from 26 metres
- 11 metres @ 1.11% copper from 112 metres
- 94 metres @ 0.93% copper from 130 metres
Incl:13 metres @ 1.47% copper from 159 metres
and 10 metres @ 1.79% copper from 188 metres
and 7 metres @ 1.81% copper from 202 metres

Hole BCD 851
- 5 metres @ 2.40% copper from 268 metres
- 15 metres @ 0.71% copper from 285 metres

Hole BCD 852

- 9.7 metres @ 1.87% copper from 132 metres
- 37 metres @ 0.79% copper from 147 metres
Incl: 14 metres @ 1.27% copper from 170 metres
Incl: 5 metres @ 1.76% copper from 179 metres
Note: These intersections, which have been calculated at cut-off grades varying from 0.3% to 1.0% copper, are all outside the current Blackard Resource.

Hole BCD 850 intersected the main native copper horizon from 26-98 metres (72m @ 0.90% copper) and a second major horizon from 130m - 234m (94m @ 0.93% copper). This zone may represent a second stratigraphic copper horizon at depth or a major structural feature superimposed on the original sedimentary copper deposits. The planned program should clarify the interpretation of this area and provide greater definition of the deposit potential.

Drilling also confirmed the continuity of copper sulphide mineralization along the south-easterly strike extensions of the Legend resource, locating low to average grade intersections in two of the three holes.

The best intersections were:

BCD 847
- 26 metres @ 0.53% copper from 244 metres
Incl: 9 metres @ 0.76% copper from 261 metres

BCD 848
- 10 metres @ 0.35% copper from 262 metres

BCD 849 failed to locate mineralisation
exceeding 0.3% copper.

Note:

The information contained in this report that relates to exploration results has been compiled by Maurice Hoyle and Dr John Scott, employees of Universal Resources Limited. Maurice Hoyle is a Fellow of the Australasian Institute of Mining and Metallurgy and John Scott is a Member of the Australasian Institute of Mining and Metallurgy. Maurice Hoyle and John Scott have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and the activity which they are undertaking as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Maurice Hoyle and John Scott consent to the inclusion in the report of the matters based on the information in the form and context in which it appears.


About UNIVERSAL RESOURCES LIMITED

Universal Resources Limited is an Australian mineral exploration and development company with major exposure to copper and gold in the Mt Isa area of Queensland.


Contact

Peter Ingram
Executive Chairman
Universal Resources
TEL: +61-8-9486-8400
Web: www.universalresources.com.au


Ends.

Cheers, Pie :)