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Uranium Resources, Inc. Clears Significant Legal Challenge in New Mexico

16.09.2010  |  Business Wire

  • Ruling that URI′s Section 8 is not Indian Country cleared with no
    petition for certiorari to U.S. Supreme Court.

  • Petition by NM Environmental Law Center for certiorari to U.S. Supreme
    Court on URI′s NRC license does not impede process for advancing
    Churchrock/Crownpoint project


Uranium Resources, Inc. (NASDAQ: URRE) ('URI?) announced today that the
time has expired for opposing parties to petition the United States
Supreme Court to review the June 2010 United States Court of Appeals for
the 10th Circuit en banc ruling that URI′s Section 8 property in
Churchrock, New Mexico is not Indian Country. No petitions were filed as
of the September 13, 2010 deadline. This ruling affirmed the authority
of the State of New Mexico, and not the U.S. Environmental Protection
Agency (USEPA), to issue a UIC permit to URI.


Don Ewigleben, President and Chief Executive Officer of URI, commented,
'We are extremely pleased that the question of jurisdiction over the UIC
permitting process has been concluded in favor of the State of New
Mexico, allowing us to move forward with the development of our
Churchrock/Crown Point project after many years of delay.?


In a separate matter, the New Mexico Environmental Law Center on behalf
of Eastern Navajo Din?gainst Uranium Mining (ENDAUM) and Southwest
Research and Information Center has petitioned the United States Supreme
Court for review of the March 2010, 10th Circuit Court of Appeals′
ruling that upheld the Company′s NRC license to conduct in-situ recovery
(ISR) uranium mining at the Churchrock/Crown Point project.


Mr. Ewigleben, stated, 'Twelve years ago the NRC staff concluded an
expert, professional analysis and found that URI′s project was
protective of public health, safety and the environment. That
determination has been subject to stringent legal reviews by the Atomic
Safety and Licensing Board, the Commission and then the 10th Circuit
Court, all of whom affirmed the staff′s analysis.? URI has not yet
reviewed the petition. The Company believes that the 10th Circuit
correctly analyzed the issues when it upheld the NRC's issuance of URI′s
license. There is no deadline by which the Supreme Court must act on the
petition.


He added, 'This action will not impede our progress on the development
of this project. We will continue our efforts on completing an in depth,
feasibility study by the end of 2011, so that we can be in a position to
begin construction of the facilities in 2012 and producing in 2013,
assuming that the license renewal processes move forward in a timely
manner, there is a recovery in uranium prices and that financing is
available for the necessary capital expenditures to build the
infrastructure ?


The NRC license allows for the production of up to 1 million pounds per
year from Churchrock until a successful commercial demonstration of
restoration is made, after which mining on other properties can begin
and the quantity of production can be increased to 3 million pounds per
year.

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 also has 183,000
acres of uranium mineral holdings and 101.4 million pounds of in-place
mineralized uranium material in New Mexico and a NRC license to produce
up to 1 million pounds of uranium per year. The Company acquired these
properties over the past 20 years along with an extensive information
database of historic mining logs and analysis. None of URI′s properties
is currently in production.


URI′s strategy is to fully exploit its resource base in New Mexico and
Texas, expand its asset base both within and outside of New Mexico and
Texas, partner with larger mining companies that have undeveloped
uranium or with junior mining companies that do not have the mining
experience of URI, as well as provide restoration expertise to those
that require the capability or lack the proficiency.


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 /
Craig Mychajluk

716-843-3908 / 716-843-3832

dpawlowski@keiadvisors.com
/ cmychajluk@keiadvisors.com

or

Media:

April
Wade, 505-440-9441

awade@uraniumresources.com

or

Company:

Don
Ewigleben, 972-219-3330

President and Chief Executive Officer



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