URACAN ANNOUNCES $4 MILLION PRIVATE PLACEMENT

/NOT FOR DISTRIBUTION TO A US NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES./

TSX-V: URC

VANCOUVER, Dec. 16 /CNW/ - Uracan Resources Ltd. ("Uracan" or the "Company") is in the process of completing a non-brokered private placement (subject to regulatory approval) of up to 13,500,000 units at a price of $0.30 per unit for gross proceeds of $4,050,000.  Each unit will consist of one common share and one half of a common share purchase warrant, each whole warrant will entitle the holder to purchase one common share at a price of $0.40 per share for a period of 2 years from closing.

Finder's fees of up to 5% of the gross proceeds of the offering may be paid.   A significant portion of the private placement, yet to be determined, will be completed on a flow-though basis.  Proceeds will be used to continue development of the Company's Canadian properties, and for working capital.

About Uracan

Uracan Resources Ltd. is a uranium exploration company, exploring for shallow, bulk tonnage style uranium mineralization in Canada.  Uracan is led by a team of proven exploration and mine entrepreneurs and mine-builders.  www.uracan.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  The foregoing information may contain forward-looking statements relating to the future performance of Uracan Resources Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

For further information:

Gregg J. Sedun	David Fry
President & CEO	Corporate Development
604-682-5580	1-877-508-U3O8 (8308)