Powertech Uranium Corp. Receives Draft Supplemental Environmental Impact Statement from NRC by 24hgold

Keywords : Recovery | Uranium | Water |

Re: News Release - Monday, November 19, 2012
Title: Powertech Receives Draft Supplemental Environmental Impact Statement from NRC

VANCOUVER, B.C. - POWERTECH URANIUM CORP. ("Powertech" or the "Company") is pleased to announce that, through its subsidiary Powertech (USA), the Company has received the draft Supplemental Environmental Impact Statement (DSEIS) for its uranium recovery license for the Dewey-Burdock Project from the U.S. Nuclear Regulatory Commission (NRC). The draft SEIS will be made available to the public for review and comment in the near future.

Dewey-Burdock has been a known uranium deposit in the Edgemont Mining District for many years and was originally discovered by the Tennessee Valley Authority in the 1970's. While the District has seen historical conventional open pit mine development and has received a license for conventional milling in the past, Dewey-Burdock will be the first in situ uranium recovery (ISR) project to receive a license granted by the NRC in the State of South Dakota.

After several years of baseline data gathering, drilling of numerous additional confirmation drill holes, testing of the host Inyan Kara aquifer, the subsequent analysis of all the collected data thoroughly characterizes the Dewey-Burdock Project. From this information, the NRC has prepared the draft SEIS which concludes:

"Based on its environmental review, the preliminary NRC staff recommendation is that a source and byproduct material license for the proposed action be issued as requested, unless safety issues mandate otherwise."

Safety issues have been addressed in the draft operating license that was issued on July 31, 2012. Powertech has reviewed the draft license and has given comments to the NRC. The final license is scheduled to be completed in January 2013, which will address all safety issues.

The concluding authorizing step in the NRC process is the final SEIS, which becomes the Record of Decision (ROD). The NRC projects the final SEIS will be complete by May of 2013. The Bureau of Land Management (BLM) is a cooperating agency in the SEIS process. Powertech has submitted its Plan of Operation to the BLM utilizing the same design as submitted to the NRC. It is expected that approval of the Operating Plan will coincide with the Record of Decision upon completion of the SEIS. Powertech has also submitted applications to the State of South Dakota for land application of excess restoration water as well as two applications for water rights and a Large Scale Mine Permit. Also, the Environmental Protection Agency (EPA) has received applications for the underground injection control program and the deep disposal wells, all of which are currently under review. All the agencies involved have stated that they can finish their review in the same timeframe as the NRC and can grant permits once the ROD is complete.

Richard Clement, President and CEO of Powertech states: "we are very pleased to have reached this milestone. The declaration by the NRC that the applications and development plan meet all the necessary criteria for a safe and environmentally sound project justifies the many months of technical effort that were put into the preparation of the applications and responses to technical questions by the NRC. This NRC draft SEIS further demonstrates the viability of the Company's future development of the Dewey-Burdock Project.

About Powertech Uranium Corp.

Powertech Uranium Corp. is a mineral exploration and development company that, through its Denver-based subsidiary Powertech (USA), Inc., holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The Company's key personnel have over 200 years of experience in the uranium industry throughout the United States, and have permitted more than a dozen in-situ operations for production. For more information, please visit http://www.powertechuranium.com

POWERTECH URANIUM CORP.

Per: "Richard F. Clement"
Richard F. Clement Jr.,
President & CEO

For further information, please contact:

Thomas A. Doyle, CFO, VP Finance
Phone: (604) 685-9181
Email: info@powertechuranium.com

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this News Release.

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