Live Conference Call and Webcast Scheduled at 11 a.m. EST Friday, November 8 at:
http://www.media-server.com/m/p/6w5fu736

MCLEAN, Va., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR), a leading innovator of nuclear fuel designs and provider of nuclear energy consulting services, today provided a business update on the progress of its nuclear fuel technology and consulting operations and reported financial results for the quarter and nine months ended September 30, 2013.

"The third quarter was a period of exceptional activity and achievement for Lightbridge," said Seth Grae, President and Chief Executive Officer. "We began a feasibility study with Babcock & Wilcox on deployment of a pilot-scale fabrication facility for our metallic nuclear fuel, secured important new consulting work in South Korea, and raised capital that will support development of Lightbridge fuel designs."

Lightbridge is developing and commercializing next generation nuclear fuel technology with benefits of improving the safety and economics of existing and new reactors. Lightbridge's advisory services are helping clients with on-time and on-budget development and regulation of nuclear power plants to expand electricity generation capabilities.

"Lightbridge technology and services address the safety and economic issues facing the commercial nuclear energy industry," Grae said.

Earlier in 2013, Lightbridge enhanced its fuel product offerings for currently operating pressurized water reactors (PWRs) through collaboration with the Company's Nuclear Utility Fuel Advisory Board. The board is comprised of senior fuel managers from four large U.S. nuclear utilities (Exelon, Duke, Dominion, and Southern Company).

Feedback from board members resulted in an improvement to Lightbridge's metallic fuel assembly design. The outer blanket row of oxide fuel rods was eliminated, making the entire Lightbridge fuel assembly metallic. "As a result, nuclear utilities using our metallic fuel in existing PWRs can realize improved safety and operating benefits (i.e., power uprate and longer fuel cycle) without the fuel performance constraints imposed by introducing oxide fuel rods into an assembly," Grae said.

In a large break, loss-of-coolant accident (LOCA) scenario, analytical modeling shows that the temperature of zirconium cladding on Lightbridge metallic fuel rods remains at least 200 degrees Celsius below the temperature at which steam begins to react with zirconium to generate hydrogen gas that can pose an explosion risk. Additional tests are planned to confirm these preliminary results, Grae said. Under normal conditions, Lightbridge fuels are designed to operate approximately 1,000 degrees Celsius lower than conventional uranium oxide fuels.

Financial Results and Guidance

For the quarter ended September 30, 2013, Lightbridge's net loss was $1.3 million, or a loss of $0.11 per share, on revenue of $0.2 million, compared to a net loss $1.2 million, or a loss of $0.10 per share, on revenue of $0.6 million in the third quarter of 2012. For the nine months ended September 30, 2013, the Company's net loss was $3.6 million, or a loss of $0.29 per share, on revenue of $1.3 million. In the same period of 2012, the net loss was $3.4 million, or a loss of $0.27 per share, on revenue of $2.8 million. Lightbridge revenues are derived from consulting and strategic advisory services for foreign governments planning to create or expand electricity generation capabilities using nuclear power plants, and are used to help fund the continuing development of the Company's nuclear fuel technologies.

Balance Sheet Overview

At September 30, 2013, the Company had approximately $0.9 million in cash and cash equivalents, restricted cash and marketable securities, and approximately $1.7 million of working capital, with no long-term debt. Stockholders' equity was approximately $2.4 million at September 30, 2013 compared with $5.8 million on December 31, 2012. Common shares outstanding at September 30, 2013 totaled 12,556,400.

On October 25, 2013, the Company received net proceeds of approximately $3.9 million after offering costs from a registered direct offering to certain institutional investors of a fixed combination of 2.5 million shares of common stock and warrants. The purchase price was $1.75 per fixed combination, with each combination consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock. William Blair & Company, L.L.C. served as placement agent for the offering, which was a takedown from a previously filed shelf registration statement on Form S-3. The offering prospectus is on file with the Securities and Exchange Commission and can be viewed at:

http://www.sec.gov/Archives/edgar/data/1084554/000106299313005167/0001062993-13-005167-index.htm

2013 Third Quarter Conference Call

Lightbridge will hold a conference call on Friday, November 8, at 11 a.m. EST to discuss the Company's 2013 third quarter results and provide an update on recent corporate developments. Seth Grae, President and Chief Executive Officer, will lead the call and additional members of the senior management team will be available to answer questions. Questions may be asked live, using the telephone lines below. Questions also may be submitted in writing before or during the conference call to ir@ltbridge.com. All written questions will be read and answered during the call.

About Lightbridge Corporation

Lightbridge is a US nuclear energy company based in McLean, Virginia with operations in Abu Dhabi, Moscow and London. The Company develops proprietary, proliferation resistant, next generation nuclear fuel technologies for current and future nuclear reactor systems. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way to a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. The Company leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.

Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp.

Forward Looking Statements

This news release contains statements that are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

CONTACT: Gary Sharpe

         Investor Relations and Corporate Communications

         Lightbridge Corporation

         1-571-730-1213

         gsharpe@ltbridge.com