NICKEL-COPPER MINING: Production guidance for Shakespeare

ONTARIO - Ursa Major Minerals of Toronto plans to mine 208,000 tonnes of ore from its Shakespeare nickel-copper open pit mine 70 km west of Sudbury this year. The ore will yield approximately 1.1 million lb of nickel, 1.7 million lb of copper, 55,000 lb of cobalt and 3,100 oz of precious metals for the company.

Ursa Major anticipates that production costs for 2010 will be $33.20 per tonne of ore. After accounting for the cost of drilling and blasting, mucking and crushing, and haulage to the mill, net revenue for 2010 is forecasted to be $11.93 per tonne. The ore is treated at Xstrata Nickel's Strathcona mill.

Visit www.UrsaMajorMinerals.com to view a model of the award-winning Shakespeare project.