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June 10, 2011
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URSA Major Announces That Institutional Shareholder Services Recommends That
Shareholders Vote FOR the Management Nominees
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TORONTO, ONTARIO--(Marketwire - June 10, 2011) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.
URSA Major Minerals Incorporated ("URSA Major") (TSX:UMJ) is pleased to announce that Institutional Shareholder Services ("ISS") has recommended that shareholders of URSA Major vote FOR the current board nominees at the upcoming annual and special meeting of shareholders to be held on June 23, 2011.
ISS is a leading independent international corporate governance analysis and proxy voting firm. Their recommendations assist shareholders to make decisions regarding proxy voting. In their analysis ISS stated(i):
"The dissidents have not clearly established how they would ensure that changes are made, although they are keen to get Forbes & Manhattan in as an investor. We are not comfortable recommending a wholesale change of the board, which should be given the benefit of the doubt for some more time."
ISS also noted that URSA Major's operating performance had "turned around in the current year" and that the dissidents had not provided any specific operating plan for URSA Major.
"ISS' independent third party endorsement of the Management nominees of URSA Major underscores our belief that the board and management of the company is working in the best interests of all shareholders," stated Amar Bhalla, Chairman, Special Committee.
"The dissidents have presented no operating plan for URSA Major nor have they demonstrated their qualifications to serve as directors of our company," said URSA Major CEO, Richard Sutcliffe. Shareholders are reminded to vote their BLUE proxy FOR the management nominees before the proxy deadline of Tuesday, June 21, 2011 at 5:00 P.M (Eastern Daylight Time).
Shareholders who require assistance voting their proxy should contact Kingsdale Shareholder Services Inc. at 1-866-851-2743 or email contactus@kingsdaleshareholder.com.
(i)Permission to quote from the ISS report was neither sought nor obtained.
About URSA Major Minerals - URSA Major is a Canadian mining company with a nickel mine and two nickel sulphide projects containing significant NI43-101 compliant nickel and copper reserves and resources. The Company is focused on demonstrating profitable operations at the Shakespeare Mine and growing its nickel, copper and platinum group metal (PGM) deposits through exploration and development, primarily in Ontario, Canada.
This release was prepared by management of the Company who takes full responsibility for its contents. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.
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