It is a pleasure to have this opportunity to present to you our new website. We have tried to make the site more informative and are committed to keeping it up to date. We have added more information about our projects, with photos of all the areas. We have also added a section that explains briefly how the active isotope in natural uranium (U235) is processed to become nuclear fuel. I hope you will find this useful.

We have made great strides forward in the first few months of 2007, and are planning to grow beyond our base of joint venture projects in the US. We are still focusing on uranium, of course, but intend to become more geographically diverse. Building on our strong in-house expertise in in-situ leach uranium operations, we have moved to acquire properties with ISL potential. At the same time we are committed to building on our traditional base of conventional mining properties, such as the Sheep Mountain mine in Wyoming and the Breccia Pipes project in northern Arizona.

We are excited to be working with Uranium One as our joint venture partner in the USA. Having a partner of this size clearly enhances our projects.

Our flag ship property is still the Sheep Mountain mine. Now that the ownership of our partner’s 50% interest has been settled, we are planning to meet with Rio Tinto Energy America, the owners of the nearby Sweetwater Mill, to discuss plans for reopening both the mine and the mill. Once a decision is made to reopen Sheep Mountain, it will take an estimated 12 – 15 months to get it into production. The property remains fully permitted for mining operations.

My first few months as President of UPC have been exciting and very rewarding. I have enjoyed talking to the many shareholders who call, and I encourage you to keep calling when you have questions, concerns, and yes, even praise for what we are doing!

Chris M Healey, P.Geo
President
UPC

April 26, 2007