Underground Energy Corporation announced that its Chief Operating Officer, Bruce Berwager, and its Vice-President Exploration and Development, David Hoyt, have agreed to termination without cause as officers of the company, effective October 31, 2012. The departure of Messrs. Berwager and Hoyt from the company comes as part of the company's plans to reduce general and administrative costs and focus its capital and resources on the development of its projects at its Greater Zaca and Burrel property areas.

In order to help ensure a smooth transition of their duties, Messrs. Berwager and Hoyt have each agreed to continue in a part-time consulting relationship with the company through January 2013.