U Mining Resources Inc. Announces Appointment of Colonel James H. Krilich as Chairman of the Board of Directors
NEW YORK, NY, Jul 11, 2007 (MARKET WIRE via COMTEX) -- U Mining Resources Inc. (PINKSHEETS: UMNG), today announced the appointment of Colonel James H. Krilich as Chairman of the Board of Directors. Mr. Krilich, retired United States Army Colonel, holds a Bachelor of Administration from Fordham University and a Master of Science from Salve Regina University. Mr. Krilich possesses a wealth of expertise in the mining industry, which was gained in large part during his service as a metals accountant at the American Smelting and Refining Company (ASARCO). At ASARCO he was responsible for final cash settlement of all ores and concentrates and shipments between the 21 smelters and refining specialty plants in North America.
In the 1980s, Mr. Krilich was appointed the civilian Chief of Non-appropriated Funds for the US Army in Alaska. During this tenure, he was an active placer gold prospector in the Kenai area south of Anchorage. Mr. Krilich has served as a member of the twenty-one member Defense Advisory Board of Vice President George Bush. Today, Mr. Krilich is a member of the Veterans Advisory Board to Congressman Steny Hoyer.
CEO Mr. Jean-Michel de Montigny stated: "We are delighted and honored to have someone of Colonel Krilich's stature as Chairman of the Board. He is not only an accomplished US Army Colonel but also an active and experienced member of the Canadian mining industry. His discipline, reputation, expertise and high level of commitment to U Mining's shareholders will be invaluable to the success of the Company going forward."
Chairman Mr. Krilich stated: "I envision a prosperous future for U Mining and its investors. Uranium is a vital strategic resource. There is a documented need for over 3,000 new uranium power plants and a large global shortage of uranium that is expected to last until at least 2015. Canada has the most favorable mining regulations to protect investors and the best tax structure to encourage mining prospecting and development. I am very comfortable with the common interests that the largest U Mining shareholders have. The four common goals are: (i) be a role model worthy of emulation; (ii) set practical objectives; (iii) submit timely audited financial reports to the SEC; and (iv) in the end achieve a large profit for all stockholders."
For more information on U Mining Resources Inc, please visit the Company's corporate website at www.umining.com, and/or speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.
Forward-Looking Statements:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
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