Mr. Wesley Hall reports

1599597 ONTARIO INC. ANNOUNCES STOCK ACCUMULATION

1599597 Ontario Inc. has acquired ownership and control over an aggregate of 6,642,000 common shares of Ursa Major Minerals Inc. at an average purchase price of 23.55 cents per share, representing approximately 8.4 per cent of the total outstanding shares of the company. The purchaser is indirectly controlled by Wesley J. Hall.

As a result of the acquisition, the purchaser now owns and controls an aggregate of 11,642,000 shares, representing approximately 14.7 per cent of the total outstanding shares of the company. The purchaser has also acquired the right to vote the shares at the upcoming annual and special meeting of the company.

The purchaser acquired the shares in the ordinary course of business for investment purposes and may, from time to time, acquire additional securities of the company or dispose of such securities as it may deem appropriate. The shares were purchased through the facilities of the Toronto Stock Exchange.