UC Hub Group, Inc. Acquires Mining Assets From Tri-Star Holdings, Inc.

January 7, 2009 Category: Mining Equipment  

UC Hub Group, Inc. announce the companies have executed a formal asset acquisition and assignment agreement whereby UC Hub Group, Inc. will acquire certain mining assets from Tri-Star Holdings for stock in UC Hub Group, Inc. These mining contracts and assets include those in Arizona referred to as COS I, COS II, and Wickenburg; the Lucky Linda Claim in Nevada, and three Idaho copper mine claims — Blue Jay #12, Blue Jay #13, and Blue Jay #14. In exchange for these assets, UC Hub will issue $3.8 Million of its restricted common stock at two cents per share to Tri-Star Holdings, Inc.

UC Hub Group, Inc. has begun testing technology and soil samples while perfecting title and completing the due diligence. Additionally, UC Hub Group, Inc. is in discussions with both domestic and European funding sources and an additional mining property. UC Hub Group has been working with an independent mining geologist to define the economics of said claims while working on a more thorough analysis of said claims as required by the existing formal executed and notarized agreement between parties. UC Hub Group, Inc. will complete some informal testing this week and will begin actual volume mining in tons next week which should be complemented by a geology report that will more accurately represent facts about the property and the potential of pay gravel. UC Hub has an agreement to move forward with these mining excavations with heavy equipment immediately.

UC Hub Group, Inc. will concurrently begin forming an appropriate board of advisors with professionals in this field. Per the performance metrics of the new extraction technology and the historic mining technologies, the Company will then recruit appropriate management for an expanded mining endeavor with existing and new targeted locations. UC Hub Group, Inc. also is in discussions with strategic investment partners that may add efficiency quotients to the overall mining vision.

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