NICKEL MINING: Shakespeare once again silenced

ONTARIO - Ursa Major Minerals has once again temporarily suspended mining at tits Shakespeare nickel mine 70 km west of Sudbury. The decision, this time, is not one of failing metal prices.

ONTARIO - Ursa Major Minerals has once again temporarily suspended mining at tits Shakespeare nickel mine 70 km west of Sudbury. The decision, this time, is not one of failing metal prices.

CEO Richard Sutcliffe stated, "Our previous processing agreement expired in December 2011, and we have not been able to conclude a new processing agreement for Shakespeare ore. Since 2007, URSA Major's mining operations have demonstrated the consistent quality and metallurgical characteristics of the Shakespeare deposit and contributed to substantially removing risks from the future development of the orebody. The company is evaluating the best options for developing the Shakespeare project which is fully permitted for an onsite mill and related infrastructure."

Should Ursa Major resume production, it will development the higher grade Shakespeare East deposit. An updated resource estimate will be posted at UrsaMajorMinerals.com when it is available in a few weeks.

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