ALBUQUERQUE, N.M.--(Business Wire)--
Uranium Resources, Inc. (NASDAQ: URRE) (URI) announced today that the New Mexico
Mining and Minerals Division approved the Company`s request for a renewal of the
Minimal Impact Exploration Permit Application on its Section 13 in-situ (ISR)
exploration project. Section 13 is in Ambrosia Lake, the historic mining
district near Grants, New Mexico. The permit, originally approved in November
2008, allows URI to drill up to 10 holes for the purpose of extracting core
samples to evaluate the suitability of the property for ISR mining. URI owns the
Section 13 property in fee and the permit renewal is now valid until November
2010.
Don Ewigleben, President and Chief Executive Officer of URI, commented, "This
permit renewal is important in that it will allow us to determine the
suitability of whether a portion of our Ambrosia Lake reserves are amenable to
ISR mining methods."
URI`s Section 13 property is located in McKinley County, approximately 10 miles
northeast of Grants. The property, along with three other parcels owned in fee
by URI, hold the Company`s Ambrosia Lake resources estimated at 2.4 million
pounds of uranium mineralized material.
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since its
incorporation in 1977, URI has produced over 8 million pounds of uranium by
in-situ recovery (ISR) methods in the state of Texas where the Company currently
has ISR mining projects. URI has 183,000 acres of uranium mineral holdings,
101.4 million pounds of in-place mineralized uranium material in New Mexico and
an NRC license to produce up to 3 million pounds of uranium.
The Company acquired these properties over the past 20 years along with an
extensive information database of historic mining logs and analysis. URI's
strategy is to fully exploit its resource base in New Mexico and Texas, to
acquire new assets individually or by partnering with other companies and to
advance ISR production in New Mexico, which is an environmentally-oriented
approach that it believes will be the quickest and least costly means of uranium
production for the state. Uranium Resources routinely posts news and other
information about the Company on its web site at www.uraniumresources.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements are
subject to risks, uncertainties and assumptions and are identified by words such
as "expects," "estimates," "projects," "anticipates," "believes," "could," and
other similar words. All statements addressing operating performance, events, or
developments that the Company expects or anticipates will occur in the future,
including but not limited to statements relating to the Company`s mineralized
uranium materials, timing of receipt of mining permits, production capacity of
mining operations planned for properties in South Texas and New Mexico, planned
dates for commencement of production at such properties, revenue, cash
generation and profits are forward-looking statements. Because they are
forward-looking, they should be evaluated in light of important risk factors and
uncertainties. These risk factors and uncertainties include, but are not limited
to, the spot price and long-term contract price of uranium, weather conditions,
operating conditions at the Company`s mining projects, government regulation of
the mining industry and the nuclear power industry, world-wide uranium supply
and demand, availability of capital, timely receipt of mining and other permits
from regulatory agents and other factors which are more fully described in the
Company`s documents filed with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize, or should any of the
Company`s underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue reliance should
not be placed on the Company`s forward-looking statements. Except as required by
law, the Company disclaims any obligation to update or publicly announce any
revisions to any of the forward-looking statements contained in this press
release.
Investors:
Kei Advisors LLC
Deborah K. Pawlowski/James M. Culligan
716-843-3908/716-843-3874
dpawlowski@keiadvisors.com/jculligan@keiadvisors.com
or
Media:
April Wade, 505-440-9441
awade@uraniumresources.com
or
Uranium Resources, Inc.
Don Ewigleben, 972-219-3330
President and Chief Executive Officer
Copyright Business Wire 2009
