UTS announces new drilling results from the Firebag Area



    
    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

    TSX Trading Symbol: UTS

    CALGARY, Feb. 6 /CNW/ - UTS Energy Corporation ("UTS") today announced
new drilling results from Leases 421, 022 and 023 (the "Lease 421 Area")
located east of the Firebag River in northeastern Alberta. These leases are
owned jointly with Teck Cominco on a 50:50 basis. Eight core holes have been
drilled this winter, of which six have encountered oil sands within the
McMurray Formation. This is the second year of drilling in Lease 421 Area for
UTS and Teck, having previously encountered high grade oil sands during the
2008 drilling program.
    "We continue to receive very encouraging results from this area," said
William Roach, President and Chief Executive Officer. "We have now drilled a
total of 13 core holes over the last two years and encountered high grade oil
sands in 11 of these, with oil sands thickness estimates of between 10 metres
and 25 metres, and overburden thicknesses ranging from 23 metres to 68 metres.
We are continuing our delineation program in this area and anticipate drilling
approximately 55 core holes in total during the first quarter of 2009. Upon
completion of this drilling program, we expect to have sufficient data to
determine if the potential exists for a fourth UTS oil sands project, with the
results of these analyses available by year end. Assets such as our Firebag
oil sands leases provide tremendous growth opportunities as well as future
funding flexibility for UTS."
    "Although it is early days in the 2009 drilling program, the results to
date (the majority being from core holes drilled close to each of the Lease
421 lease boundaries) are indicative of a laterally extensive resource and the
potential for another significant oil sands discovery," said Dr. Roach. "It is
also noteworthy that this discovery is directly northeast of the Total
operated Northern Lights Project leases, which if combined may render a
sufficient resource base for a stand-alone development."
    UTS is focused on the creation of shareholder value through exploration,
development and production of hydrocarbon resources, mainly mineable oil sands
deposits from the Athabasca Oil Sands Area in northeastern Alberta.
    UTS was instrumental in re-establishing the Fort Hills Oil Sands Project
and is the principal founder of the Fort Hills Energy Limited Partnership. UTS
holds a 20 per cent working interest in the Fort Hills Project, a mature
mining project, located north of Fort McMurray.
    Beyond the Fort Hills Project, UTS has identified additional development
opportunities through a successful and continuing lease acquisition and
exploration program. UTS has a 50% working interest in each of the Frontier
and Equinox Projects. The Frontier Project is an oil sands mining project
associated with the development of that portion of the Athabasca Oil Sands
Area identified by Alberta Oil Sands Lease Nos. 311, 468, 470, 477, 610 and
840 and is located in northeastern Alberta approximately 100 kilometres north
of Fort McMurray and 500 kilometres northeast of Edmonton.
    The Equinox Project is an oil sands project related to the development of
Alberta Oil Sands Lease No. 14 located in northeastern Alberta. The Equinox
Project bisects the Pierre River Project, approximately 90 kilometres north of
Fort McMurray and 500 kilometres northeast of Edmonton.
    Further, UTS holds a 50 per cent working interest in an additional 97,024
hectares (242,560 acres) of prospective oil sands leases. This includes the
Lease 421 Area with 13,312 hectares (33,280 acres) and located northeast of
Total E&P Canada Ltd.'s Northern Lights Project and directly north of lands
owned by Imperial Oil Limited. By the end of this year's winter drilling
program, we expect to have a total of 60 core holes drilled in the Firebag
Area, enough to confirm the potential for a major new discovery.
    UTS is committed to responsible resource development by conducting its
business in a manner that reduces environmental effects, protects workers' and
communities' health and safety and recognizes stakeholder interests.

    UTS Energy Corporation is based in Calgary, Alberta. The Company's common
shares (UTS) are traded on the Toronto Stock Exchange.

    FORWARD-LOOKING INFORMATION: Except for statements of historical fact
relating to UTS, this news release contains "forwarding-looking information"
within the meaning of applicable securities law. The forward-looking
statements in this press release relate to, but are not limited to, statements
with respect to the Company's anticipated mine plan, drilling results, capital
expenditures, drilling plans, estimated resources, rate of recovery and
production estimates of bitumen resources are based on the opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those anticipated in the
forward-looking statements. There are numerous uncertainties inherent in
estimating bitumen, including many factors beyond the Company's control, and
no assurance can be given that the indicated level of bitumen or the recovery
thereof will be realized. In general, estimates of bitumen are based upon a
number of factors and assumptions made as of the date on which the resource
estimates were determined, such as geological and engineering estimates,
certain TV:BIP ratios and pit boundaries, which have inherent uncertainties.
Forward-looking information is frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and
other similar words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those anticipated in the
forward-looking statements. UTS undertakes no obligation to update
forward-looking information if circumstances or management's estimates or
opinions should change except as required by law. The reader is cautioned not
to place undue reliance on forward looking information.





For further information:

For further information: Dr. William J. F. Roach, President and Chief
Executive Officer at (403) 538-7030

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UTS ENERGY CORPORATION

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