Universal Resources continues to build on its exploration success within the company"s major 3,600sqkm tenement holding in the Mount Isa Inlier region of North West Queensland, with the discovery of a high-grade uranium and rare earth mineralisation from surface sampling of three prospects.

The results, from an ongoing program targeting uranium mineralisation 10km north-east of the former Mary Kathleen uranium mine, are consistent with mineralisation within the historic mine.

The most significant results from rock chip samples selected by scintillometer screening included: 4.76% uranium, 2.07% cerium, 3.04% lanthanum, 0.78% yttrium; 4.36% uranium, 1.79% cerium, 2.66% lanthanum, 0.77% yttrium; 3.59% uranium, 1.42% cerium, 2.33% lanthanum, 0.50% yttrium; 2.93% uranium, 1.16% cerium, 1.67% lanthanum, 0.46% yttrium; 2.96% uranium, 0.72% cerium, 0.94% lanthanum, 0.18% yttrium; and 1.74% uranium, 0.75% cerium, 0.93% lanthanum, 0.35% yttrium.

Universal is continuing the surface sampling program and will release further results as they become available.

"These results from this richly endowed region are very pleasing and significant," Universal Resources' managing director, Michael Hulmes, said.

"Lanthanum and cerium mineralisation were also associated with uranium in the Mary Kathleen mine and the significant Mary Kathleen deposits have been reported as hosting one of Australia's largest rare earth accumulations."

"Multi-element analysis of rock grab samples shows persistently high uranium values associated with light rare earth elements, thorium, iron and vanadium," he added. "This outcome is even more exciting, considering the prospects we are currently focusing on are located on tenements adjoining our Roseby Copper Project."

The initial phase of the ongoing uranium exploration and sampling program has included first pass geological reconnaissance mapping, rock grab sampling and broad band gamma ray scintillator ground surveys conducted over several anomalies previously identified by airborne radiometric programs.

Universal conducted follow-up soil sampling over the Janet Maude, Mount Harold and Mount Harold South anomalies identified by the scintillometer, to assess the nature, potential size and distribution of mineralisation.

"Our strong cash position puts us in an advantageous position to further evaluate all of our uranium prospects in the Mount Isa Inlier region, including the Godkin and Godkin Extended anomalies," Mr Hulmes said.

Universal will continue its uranium exploration program while conducting further copper exploration and progressing the development of the Roseby Copper Project towards the start of mining later this year.