URSA MAJOR MINERALS INCORPORATED ACQUIRES NICKEL-COPPER PROPERTY ON WORTHINGTON OFFSET DIKE, SUDBURY AREA, ONTARIO.

Ursa Major Minerals Inc. has signed an option agreement to acquire a 100-per-cent interest in a nickel-copper exploration property on the Worthington offset dike, located in Lorne township, 40 kilometres west of Sudbury, Ont.

Ursa Major’s option covers 1.2 kilometers of strike length of the Worthington offset dike. This dike extends for approximately 12 kilometres from the Sudbury igneous complex and is the host to several nickel-copper mines and deposits. Most notably, the Totten mine extension, owned by Companhia Vale de Rio Doce (CVRD) (formerly Inco) is located approximately six kilometres northeast of Ursa’s property on the Worthington offset dike. The Totten mine extension contains approximately 10 million tonnes of 1.5 per cent nickel, 2 per cent copper and 4.8 grams per tonne of palladium and platinum.

Richard Sutcliffe, Ursa Major’s president and chief executive officer, stated: “We are pleased to obtain this property which gives the company an excellent strategic exploration property on the west side of the Sudbury basin and is only 25 kilometres east of our Shakespeare nickel-copper deposit. Our team looks forward to drill testing this promising target in 2007.” The property is located in an area of excellent infrastructure and is accessible from paved roads.

The Worthington offset dike property was previously known as the Mystery offset dike. The central portion of the dike is an inclusion-bearing quartz diorite that is similar to other mineralized offset dikes in the Sudbury district. Continuous zones of pyrrhotite, chalcopyrite and pentlandite mineralization are present on Ursa Major’s Worthington offset dike property. On the property, shallow drilling by previous operators returned several mineralized intersections including a 2.62-metre intersection grading 1.26 per cent nickel, 0.45 per cent copper and 13.43 grams per tonne platinum group metals plus gold. Ursa Major is planning an exploration program that will test the mineralization with drilling down dip and use downhole geophysics to guide further drilling.

The approximately 102-hectare (250-acre) patented mining property is being optioned for payments totalling $150,000 and 60,000 shares over a two-year period, with a final payment of $187,500. Ursa Major is required to complete a $500,000 exploration program within two years. The property is subject to a 2-per-cent net smeltery return royalty which is held by third parties. The transaction is subject to regulatory approval.