Ur-Energy
Acquires Exploration Properties in Nebraska
Littleton,
Colorado (Marketwire . January 18, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) (.Ur-Energy. or the .Company.) announces the expansion of its US uranium exploration activities
into western Nebraska.
Ur-Energy has leased approximately 55 square miles (142 sq. km) for
initial exploration which will test new concepts in a geologic environment
that is favorable for the discovery of uranium deposits.
Over the past three years, a team of Ur-Energy
senior geologists has conducted a detailed study mapping the subsurface
geology and host formations. The study area covers eleven counties in
western Nebraska and is based on data obtained primarily from the records
of several thousand oil and gas well logs. The objective of the study was
to identify potential uranium bearing paleo-channels
in sandstone formations; these may contain deposits similar in nature to Cameco
Resources. (TSX: COO) Crow Butte deposit in Dawes County,
Nebraska. The Ur-Energy
land position was chosen in areas with similar geologic characteristics to
the Crow Butte deposit. The Crow Butte deposit is presently being mined by
in-situ recovery (ISR) methods and is reported to
have contained approximately 25 million pounds at a grade of 0.25% U3O8.
Bill Boberg, CEO &
President stated .I am proud of our exploration geologists and land staff
for developing this new frontiers. exploration
program. High quality and innovative exploration programs are one of
several key directions being pursued for the growth of the company. I would
also like to thank Ur-Energy.s Board of Directors
for their continued support of our long term growth plans..
About Ur-Energy
Ur-Energy is a
junior uranium company currently completing mine planning and permitting
activities to bring its Lost Creek Wyoming uranium deposit into
production. Permitting also
will allow the construction of a two-million-pounds-per-year in situ
uranium processing facility. Engineering for the process facility is
complete and mine planning is at an advanced stage for the first two mine
units. Ur-Energy engages in the identification, acquisition and exploration
of uranium properties in both Canada and the United States. Shares of
Ur-Energy trade on the Toronto Stock Exchange under the symbol .URE. and on the NYSE Amex under the symbol .URG.. Ur-Energy.s corporate office is located in Littleton,
Colorado; its registered office is in Ottawa, Ontario. Ur-Energy.s
website is www.ur-energy.com..
FOR FURTHER INFORMATION, PLEASE CONTACT
Rich Boberg, Director
Public Relations Bill
Boberg, President and CEO
303-269-7707 303-269-7755
866-981-4588 866-981-4588
rich.boberg@ur-energyusa.com
bill.boberg@ur-energyusa.com
This release
may contain .forward-looking statements. within the meaning of applicable
securities laws regarding events or conditions that may occur in the future
(e.g., the exploration potential
of the prospect, including the timing, completion and results of
exploration programs; the potential of the sandstone formations to contain
uranium deposits similar in nature to the Cameco
Crow Butte deposit) and are based on current expectations that, while
considered reasonable by management at this time, inherently involve a
number of significant business, economic and competitive risks,
uncertainties and contingencies. Factors that could cause actual results to
differ materially from any forward-looking statements include, but are not
limited to, capital and other costs varying significantly from estimates;
failure to establish estimated resources and reserves; the grade and
recovery of ore which is mined varying from estimates; production rates,
methods and amounts varying from estimates; delays in obtaining or failures
to obtain required governmental, environmental or other project approvals;
inflation; changes in exchange rates; fluctuations in commodity prices;
delays in development and other factors. Readers should not place undue
reliance on forward-looking statements. The forward-looking statements
contained herein are based on the beliefs, expectations and opinions of
management as of the date hereof and Ur-Energy disclaims any intent or
obligation to update them or revise them to reflect any change in
circumstances or in management.s beliefs,
expectations or opinions that occur in the future.