Universal Resources Limited (ASX: URL, “Universal�) is...

Universal Resources Limited (ASX: URL, “Universal�) is pleased to announce the preliminary
financial results from the feasibility study of its Roseby Copper Project, located near Mt Isa,
Queensland. Technical results from the study were announced on 16 November 2007.
Financial modelling of a range of scenarios indicates robust financial outcomes for the proposed
Roseby operation. Net present value (NPV) for the project has been estimated on a pre-tax basis
and before adjusting for debt financing of the capital costs of the project. A discount rate of 8.5%
has been used. Based on the assumptions used, the project NPV’s, based on Ore Reserves
only, range from $107 million $520 million. The internal rate of return (IRR) is estimated to range
from 17% to 47%.
Universal’s current market capitalisation, based on its issued capital, is approximately $27
million. Fully diluted market capitalisation, assuming all Converting Notes not yet converted are
converted at 18c per share, is approximately $35 million. This is well below the lowest estimated
NPV of $107 million.


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