Cloudbreak Resources Ltd. (the "Company") (TSX VENTURE:CDB)(PINK
SHEETS:CUDBF)(FRANKFURT:C6K) announces, subject to regulatory approval, the
Company has increased its 50 percent interest in the Mount Stewart Project
located adjacent to, and in the vicinity of Underworld's (UW-TSX:V) White Gold
Project discovery, to full 100% ownership by purchasing the outstanding 50
percent interest owned by Alix Resources Ltd. ("Alix") on ground explored under
joint venture by the Company and Alix this past 2009 field season.


The Company will pay Alix $125,000 and issue 4 million common shares of the
Company to acquire Alix Resources' 50 percent interest on the Mount Stewart
Project (comprised of the BRC, Strike, Au and Lucky quartz claims). The complete
mineral claim package totals 170 quartz claims and covers approximately 3,400
hectares. The Company and Alix Resources spent approximately $300,000 in
exploration expenses on the mineral claim package during the 2009 field season.
The culmination of this work resulted in the identification of several gold
anomalies as reported in Company News Releases dated September 22, 2009 and
August 6, 2009.


The transaction is subject to TSX Venture approval.

The Mount Stewart Project is located immediately adjacent (west) of Underworld
Resources' (UW-TSX:V) ("UW") White Gold Project mineral claims, where UW has
completed to date, 79 drill holes totaling over 25,000 meters (UW news October
28, 2009). Highlighted drill intercepts from UW's exploration programs on the
White Gold Project are up to 104 metres averaging 3.39g/t gold (UW news May 26,
2009). Underworld continues to expand the adjacent Golden Saddle deposit down
dip to the north and further along strike to the northeast (UW news October 28,
2009). The Golden Saddle deposit represents an intrusion related gold
mineralization and a 43-101 resource estimate is expected in January 2010 (UW
news October 28, 2009).


The Company is actively reviewing new potential property acquisitions and are
awaiting an interpretation on the low-level, multi-sensor airborne geophysical
survey flown over the Mount Stewart Project in late 2009.


ON BEHALF OF THE BOARD

Richard Macey, President & Director

Underworld Resources Inc. (TSXV:UW)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Underworld Resources Inc. Charts.
Underworld Resources Inc. (TSXV:UW)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Underworld Resources Inc. Charts.