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Uranium Resources, Inc. Completes Drilling in Ambrosia Lake

23.09.2010  |  Business Wire


Uranium Resources, Inc. (NASDAQ:  URRE) ('URI?) announced today that the
Company has completed drilling at its Section 13 property in Ambrosia
Lake in McKinley County, New Mexico, approximately 10 miles northeast of
Grants.


Three holes, totaling more than 2,600 feet, were drilled on the
property. A total of 95 feet were cored and 75 feet of three inch core
were recovered. Gamma ray and Prompt Fission Neutron (PFN) logging tools
were used to evaluate the sub-surface environment. The core has been
quartered by URI and the core samples will be shipped to a laboratory
which will evaluate the suitability of the property for in-situ recovery
('ISR?) mining, a process that is expected to be completed in December
2010.


'The drilling at Ambrosia Lake is part of our strategy to determine the
suitability of our Section 13 property for profitable ISR production in
order to prioritize our efforts as we continue to advance toward
production in New Mexico. As we await the results of the core
evaluation, we will maintain our dialogue with the communities and
government agencies regarding the safety and suitability of ISR mining
and similarly intend to continue to reach out to the local residents who
stand to benefit from a potential return of uranium mining to the
state,? said Don Ewigleben, President and Chief Executive Officer of URI.


URI received a permit for drilling the property from the New Mexico
Mining and Minerals Division in November 2008. The permit, which was
renewed in July 2010, allows URI to drill up to ten holes for the
purpose of extracting core samples until November 2011.


URI has over 100 million pounds of in-place, mineralized uranium
material in New Mexico and approximately 2.4 million pounds in the
Ambrosia Lake area. Stewart Brothers of Milan, NM conducted the drilling
as part of URI′s continued commitment to the local New Mexico economy.

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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