Uranium Resources Inc.

Published : September 08th, 2009

Terminates Agreement to Acquire New Mexico Properties

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URANIUM RESOURCES TERMINATES AGREEMENT TO ACQUIRE NEW MEXICO PROPERTIES

 

ALBUQUERQUE, NM, September 8, 2009 -- Uranium Resources, Inc. (NASDAQ:  URRE) (URI) announced today that it has terminated the agreement for the acquisition of certain assets in New Mexico from NZ Uranium, LLC because of the existence of title issues that were not resolved.  The Company had previously announced that it had entered into an agreement to acquire the properties subject to the satisfaction of closing conditions, including a title review.  The properties were believed to contain about 35 million pounds of uranium mineralized material. 

Paul K. Willmott, Chairman of the Board, commented, “It is unfortunate that this is the result, but we determined that it would be imprudent to proceed any further.” 

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 has 183,000 acres of uranium mineral holdings, 101.4 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 3 million pounds of uranium. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis.

URI's strategy is to fully exploit its resource base in New Mexico and Texas, to acquire new assets individually or by partnering with other companies and to advance ISR production in New Mexico, which is an environmentally-oriented approach that it believes will be the quickest and least costly means of uranium production for the state. 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.

 

Investor Contact:

Company Contact:

Deborah K. Pawlowski/James M. Culligan

Paul K. Willmott

Kei Advisors LLC

Executive Chairman

Phone:  716.843.3908/ 716.843.3874

Phone:  972.219.3330

Email: dpawlowski@keiadvisors.com/jculligan@keiadvisors.com

 

Media Contact:

 

April Wade

 

Ph:  505-440-9441

 

E-mail:  awade@uraniumresources.com

 

 

 

 


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Uranium Resources Inc.

PRODUCER
CODE : URRE
ISIN : US9169016063
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Uranium Res. is a producing uranium company based in United states of america.

Uranium Res. holds various exploration projects in Australia.

Its main assets in production are KINGSVILLE DOME and ROSITA in USA, its main asset in development is ROCA HONDA in USA and its main exploration properties are VASQUEZ, MOSSER, MARSHALL, WEST LARGO, SOUTH TEXAS LEASE and CROWPOINT in USA and MTONYA, CHURCHROCK / MANCOS and NOSE ROCK in Australia.

Uranium Res. is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 189.9 millions as of today (€ 169.7 millions).

Its stock quote reached its highest recent level on April 27, 2007 at US$ 9.99, and its lowest recent point on December 28, 2018 at US$ 0.13.

Uranium Res. has 27 929 584 shares outstanding.

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