Uranium Resources, Inc. Receives Confirmation of its Discharge Plan in Timely Renewal Status from NMED
Also confirms renewal application also in process
Uranium Resources, Inc. (NASDAQ: URRE) ('URI?) announced today that the
New Mexico Environment Department ('NMED?) has confirmed that its
discharge plan (New Mexico′s terminology for an Underground Injection
Control Permit under the federal Safe Drinking Water Act), is in timely
renewal and that the NMED is currently conducting technical review of
its renewal application.
Don Ewigleben, President and CEO of URI, commented, 'The fact that the
NMED would confirm our discharge plan supports our belief that we
followed proper procedures and abided by all rules and regulations of
the NMED. The State of New Mexico recognizes the significant value that
can be generated for the people of the state through the development of
its natural resources and we applaud that position. New Mexico has the
largest identified uranium resource base in the U.S. and our 101.4
million pounds of in-place mineralized uranium material is among the
largest quantities owned by any one company in the state.?
URI also holds a Nuclear Regulatory Commission ('NRC?) license which is
in timely renewal, which combined with the discharge plan enables URI to
move closer toward production using in situ recovery (ISR) on its
Churchrock Section 8 project where there are 6.5 million pounds of
in-place mineralized uranium material.
NMED′s confirmation that the discharge plan is in timely renewal allows
URI to remain on track to begin uranium production in New Mexico by the
first half of 2013. It is in the process of its feasibility study
including the development of engineering plans, cost estimates and
operating design parameters.
Mr. Ewigleben concluded, 'Along with our efforts educating the community
on the project, we take our corporate social responsibility seriously
and are focused on safety and environmental sustainability in addition
to the economic opportunities our project brings to the area.?
URI has 183,000 acres of mineral holdings in New Mexico and 101.4
million pounds of in-place mineralized uranium material. There are 30
million pounds of in-place mineralized uranium material that can be
produced under its NRC Source Materials License.
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 has digitized
over 18,800 drill logs representing nearly 23 million feet of hole
drilled with an estimated replacement cost of $700 million. 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,
716-843-3908
dpawlowski@keiadvisors.com
or
Media:
Uranium
Resources, Inc.
Mat Lueras, 505-269-8317
Vice President,
Corporate Development
mlueras@uraniumresources.com
or
Company:
Uranium
Resources, Inc.
Don Ewigleben, 972-219-3330
President & Chief
Executive Officer