UTS Reports More Than 34% Increase

UTS Energy Corporation today announces the results of the independent reserves evaluator's report for the Fort Hills Oil Sands Project's contingent bitumen resources. In order to comply with National Instrument 51-101, the Fort Hills Partnership retained independent reserves evaluators Sproule Associates Limited to prepare an audit of the Fort Hills Partners' contingent bitumen volumes and methodology used in the recently updated mine plan.

mine plan.

In addition to the report that was prepared for the Fort Hills Partnership, a separate report was prepared for UTS in order for UTS to meet its annual securities reporting requirements. The report is effective December 31, 2006.

The bitumen estimates in the above table were calculated at the outlet of the proposed extraction plant. The "Best Estimate" is the current basis of the audited mine plan. The Low and High Estimates are derived from a Fort Hills Partnership's report entitled the "Fort Hills Conceptual Mine Plan Study" which was completed in March 2006.

"Today, we have independent confirmation of a 4.7 billion barrel contingent resource which means that the UTS 30% interest in this Project now stands at 1.4 billion barrels," said Dr. William Roach, President and Chief Executive Officer. "Directionally, this increase was anticipated and further reinforces our belief in the upside potential of the Fort Hills Oil Sands Project."

The Fort Hills Oil Sands Project is held by UTS with a 30% working interest, Teck Cominco with a 15% working interest and Petro-Canada with a 55% working interest and operatorship.

UTS owns 100% of Lease 14 with Teck Cominco holding the right to acquire 50% at fair market value. In addition, UTS and Teck Cominco jointly acquired 19 leases comprising 257,920 acres. If prospective, the potential value of these Leases could give UTS additional financing flexibility and possibly lead to the development of other major oil sands projects.

UTS Energy Corporation is based in Calgary, Alberta. The Company's common shares (UTS) are traded on the Toronto Stock Exchange. -- www.cnxmarketlink.com