UMNG - U Mining Resources Inc

NEW YORK, May 23 /PRNewswire-FirstCall/ - U Mining Resources Inc. (Pink Sheets: UMNG), formerly known as Globex, Inc. and listed on the Pink Sheets under GLXI, today announced that it has commenced trading under its new ticker symbol UMNG. Management was informed that the revised symbol had been issued yesterday afternoon.

Business Description:
Uranium Mining, Ethanol and Green Energy research.

I am anxiously awaiting the 43-101 -- the company's PR arm, Equititrend Advisors LLC said, "Of all the stocks currently on our plate, GLXI (now UMNG) shows the most potential for growth in the near term," adding, a potential rally close to .40 -- I'm including a quote from one of their advisors (sent to me May 23 - right before the ticker change - thus the GLXI reference)...

"if you look at the three month chart, certainly has the potential to rally closer to .40 p/s where it had been trading back in March. GLXI also plans on receiving their 43-101 from the Canadian government sometime in the next few weeks. This 43-101 form turns their initial uranium findings into "proven" reserves. At that point, they should have no trouble finding favorable financing with hopes of having a full scale open pit-mining operation since they have found uranium traces located very close to the surface."

Got to love a company that delivers news as promised:

Quote:
U Mining Resources Inc. Announces Strategic Acquisition of Uranium Rich 'Mount Otish' Territories
Updates Status of Geologic Reports and Corporate Development Strategy
NEW YORK, June 4 /PRNewswire-FirstCall/ - U Mining Resources Inc. (Pink Sheets: UMNG - News), today announced that it has completed the key acquisition of the 'Mount Otish' Territories. Management has been working on the purchase of this incredibly promising and strategic area for over 6 months.

The Otish Mountains basin, Quebec's Athabasca?

The uranium potential of the Otish Mountains Paleoproterozoic sedimentary basin is often compared to the Athabasca Mesoproterozoic sedimentary basin in Saskatchewan (the Athabasca basin accounts for one-third of world supply). There are several uranium showings typical of unconformity-related uranium deposits (e.g. Camie River and Beaver Lake) in the Otish Mountains basin. The Otish Supergroup is characterized by fluvial deposits at the base (Indicator Group) and marginal basin deposits near the top (Genest, 1989). The Indicator Group is composed of sub-arkosic to arkosic sandstones. These rocks are cut by dikes and sills of Paleoproterozoic gabbro.

In 2006, several companies were active in the Otish Mountains area, including Cameco (the world's largest low-cost uranium producer, with a 20% market share) and junior Strateco Resources Inc. The promising results obtained by Strateco Resources on the Matoush property highlight the potential of vein-type mineralization associated with a shear zone in sedimentary rocks.

Management has requested, for this week's delivery, a geologic summary of 'Mount Otish's' potential from an external geologist firm; fulfilling the last due diligence requirement of the transaction. The Company will disclose the acquisition's terms and conditions subsequent to the receipt of the geologic summary. In the meantime, U Mining has posted on its corporate website (www.umining.com) the Government of Quebec's Natural Resources Uranium map so that shareholders may appreciate the value of the Company's Uranium Rich Territories.

Management also announced that all the results of the NI-43-101 reports will be published during the month of June. The Company will disclose the name of the external geologist firm as soon as the reports are completed in order to avoid any interference and obstruction from external third parties as encountered previously. The Company has amassed a significant high-grade potential asset base, and is planning to unveil its Corporate Development Strategy during the month of June. The landmark acquisition of this Uranium territory, which was kept confidential until today, is the last piece of the Company's territory positioning strategy.

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.

will be interesting to see how this reacts on this buy back news......I never trust these companies who announce these things.....why would they tell everyone this??? When they can get the shares cheaper if they don't announce it....LOL


Friday, June 22 2007 8:30 AM, EST

U Mining Resources Inc. Announces Initialization of Company Stock Buyback Program

Market Wire "US Press Releases "

NEW YORK, NY -- (MARKETWIRE) -- 06/22/07 -- U Mining Resources Inc. (PINKSHEETS: UMNG) announced today that management has decided to initiate an aggressive Stock Buyback program of its trading shares in order to overcome continuous illegal short selling positions commencing with the announcement of this press release.

This buyback program is taking place in conjunction with an institutional finance group currently working with the Company and combined with a group of friendly UMNG shareholders who will be buying stock on a daily basis on the open market.

Management stated, "This action reflects our strong belief in the fundamental value of the Company. At current prices, we believe our stock is undervalued and that it represents an attractive investment opportunity. We believe Uranium prices will continue to increase and management will keep securing and acquiring strategic Uranium territories. We are building our asset base while conducting geologic reports and lab tests to measure the value of our proven resources."

Management is currently waiting for the imminent release of its NI-43-101 reports on Laurentide 1 and 2 properties. U Mining can then make a final decision on the closing date of the audited financial statements in preparation for filing form 10 to up list on the OTC.BB.

More information on this and other pending matters will be made available to shareholders on a timely basis.

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.

Investor Relations:
Equiti-trend Advisors
(800) 953-3350
www.umining.com