URACAN EXPANDS PRIVATE PLACEMENT TO $6.7 MILLION

  TSX-V: URC

VANCOUVER, Jan. 18 /CNW/ - Uracan Resources Ltd. ("Uracan" or the "Company") is pleased to report that, further to the news release announcement of December 24, 2010, the Company has closed on an additional 2,000,000 units at 25 cents per unit for incremental proceeds of $500,000 subject to final approval from the TSX Venture Exchange. This brings the total gross proceeds to $6,727,490.

Each 25 cent unit consists of one common share and one common share purchase warrant.  Each warrant entitles the warrant holder to purchase one common share of the Company at a price of 40 cents per share until January 18, 2013. 

Proceeds will be used for working capital.  The securities issued in connection with this incremental private placement will be subject to a four month hold period expiring on May 19, 2011.

About Uracan

Uracan Resources Ltd. is a uranium exploration company, exploring for near or at-surface, bulk tonnage style uranium mineralization in Canada.  Uracan is led by a team of proven exploration and mine entrepreneurs and mine-builders.  www.uracan.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  The foregoing information may contain forward-looking statements relating to the future performance of Uracan Resources Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

SOURCE URACAN RESOURCES LTD.

For further information:

Gregg J. Sedun    David Fry
President & CEO     Corporate Development
604-682-5580      1-877-508-U3O8 (8308)

Profil de l'entreprise

URACAN RESOURCES LTD.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.