Littleton, Colorado(Marketwire? January 12, 2011)Ur-Energy Inc. (TSX:URE, NYSEAmex:URG)
(?Ur-Energy? or the ?Company?)is pleased to announce that the UnitedStates Nuclear Regulatory Commission (NRC) has
issued the draft Source andByproductMaterials
License Number SUA-1598 for its LostCreek in-situ
recovery project located in Sweetwater County, Wyoming. Issuance of this document
is a milestone inobtaining the final NRC Source
Materials License and is an indication that thelicensing
action is nearing completion.
In accordance with standard NRC practice, the
Company has beengranted a brief amount of time to
review the Draft License and supply suggestedchanges
to the NRC prior to the document becoming final. The NRC also continues its
work towardsissuance of the final Supplemental
Environmental Impact Statement. The Company anticipates the NRC will issuethe final Safety Evaluation Report with the final
License. The issuance of the final License willconclude
theNRC?sreview and licensingprocess.
Wayne
Heili, President of theCompany?s subsidiary Lost Creek ISR, LLC, stated?We are very pleased that the NRC
hasreached a decision to move forward with the issuance of the Draft License
basedon their exhaustive safety and technical review of the license
application. The NRC?s decision demonstrates that the LostCreek Project is
technically sound, protective of the environment, and that theNRC licensing
process is nearing conclusion.?
About
Ur-Energy
Ur-Energy is a junioruranium company currently completing mine
planning and permitting activities tobring its Lost Creek Wyoming uranium
deposit into production. Permitting also will allow the constructionof a
two-million-pounds-per-year in situ uranium processing facility.Engineering
for the process facility is complete and mine planning is at anadvanced stage
for the first two mine units. Ur-Energy engages in theidentification,
acquisition and exploration of uranium properties in both Canadaand the
United States. Shares of Ur-Energy trade on the Toronto Stock Exchangeunder
the symbol ?URE? and on the NYSE Amex under the symbol ?URG?.
Ur-Energy?scorporate office is located in Littleton, Colorado; its registered
office is inOttawa, Ontario. Ur-Energy?s website iswww.ur-energy..com.
FOR
FURTHER INFORMATION, PLEASE CONTACT
Rich Boberg, Director Public Relations Bill
Boberg, President andCEO
303-269-7707 303-269-7755
866-981-4588 866-981-4588
rich.boberg@ur-energyusa.com
bill.boberg@ur-energyusa.com
This
release maycontain ?forward-looking statements? within the meaning of
applicable securitieslaws regarding events or conditions that may occur in
the future (e.g.timetables at Lost Creek; sufficiency of cash to fund capital
requirements;receipt of (and related timing of) the final NRC Source Material
License andWDEQ Permit to Mine and all other necessary permits and regulatory
authorityrelated to Lost Creek; and the sustainability and timeline of Lost
Creekproduction)and are based oncurrent expectations that, while considered
reasonable by management at thistime, inherently involve a number of
significant business, economic andcompetitive risks, uncertainties and contingencies.
Factors that could causeactual results to differ materially from any
forward-looking statements include,but are not limited to, capital and other
costs varying significantly fromestimates; failure to establish estimated
resources and reserves; the grade andrecovery of ore which is mined varying
from estimates; production rates, methodsand amounts varying from estimates;
delays in obtaining or failures to obtainrequired governmental, environmental
or other project approvals; inflation;changes in exchange rates; fluctuations
in commodity prices; delays indevelopment and other factors. Readers should
not place undue reliance onforward-looking statements. The forward-looking
statements contained herein arebased on the beliefs, expectations and
opinions of management as of the datehereof and Ur-Energy disclaims any
intent or obligation to update them or revisethem to reflect any change in
circumstances or in management?s beliefs,expectations or opinions that occur
in the future.
|