Uranium Resources Announces Positive Results of Groundwater Study
Churchrock Project Will Have No Impact on Navajo-Gallup Water Supply
Project
- The study was developed jointly by the Navajo Nation, City of
Gallup and URI - The study indicates that existing and future water wells will
not be impacted by ISR activities
Uranium Resources, Inc. (NASDAQ: URRE) ('URI?), announced the positive
findings resulting from the Section 8 / Navajo-Gallup Groundwater
Report and Conjunctive Use Evaluation for its Churchrock Section 8
('Section 8?) uranium in-situ recovery ('ISR?) project.
The study results indicate that existing Gallup, Fort Wingate, Rehoboth
and Navajo Nation water wells will not be impacted by Section 8 ISR
activities, during mining operations or into the future. Moreover, the
evaluation concluded that there is no discernible risk that ISR
activities would adversely affect groundwater allocated for the
Navajo-Gallup Water Supply Project.
'This study was a collaborative effort with the Navajo Nation and the
City of Gallup,? stated Mark S. Pelizza, Senior Vice President of
Health, Safety and Environmental Affairs of URI. 'The evaluation
substantiates our belief that ISR mining, specifically at our Churchrock
project, is a safe, environmentally-friendly way to extract uranium.?
Mr. Pelizza added, 'We continue our discussions with members of the
Navajo Nation and its government and believe that this jointly developed
study is a solid step forward to help address their mining concerns.?
The report was prepared by Daniel B. Stephens and Associates, Inc., a
hydrology, engineering and geosciences consulting firm based in
Albuquerque, New Mexico. The firm was selected to conduct the study by
the Navajo Nation and the City of Gallup. The evaluation was conducted
assuming parameters that resulted in faster groundwater migration rates
and placed all future supply wells in locations closer to Section 8 than
are projected. Additionally, consideration was not given to geochemical
processes, which lead to the natural dilution and removal of elements
over time.
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. URI has
over 206,600 acres of uranium mineral holdings and 152.9 million pounds
of in-place mineralized uranium material in New Mexico and an NRC
license to produce up to 1 million pounds of uranium per year. URI has
an additional 1.3 million pounds of in-place mineralized uranium
material in Texas and South Dakota. The Company acquired these
properties over the past 20 years along with an extensive information
database of historic drill hole logs, assay certificates, maps and
technical reports. None of URI′s properties is currently in production.
URI′s strategy is to fully develop its resource base in New Mexico and
Texas, expand its asset base both within and outside of New Mexico and
Texas, and partner with larger mining companies that have undeveloped
uranium assets or with junior mining companies that do not have the
mining experience of URI, as well as provide restoration expertise to
those that require the capability or lack the proficiency.
Uranium Resources routinely posts news and other information about the
Company on its website at www.uraniumresources.com.
Safe Harbor Statement
This news 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 news release.
Investor Contact:
Kei Advisors LLC
Deborah K.
Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com
or
Media
Contact:
Uranium Resources, Inc.
Mat Lueras
Vice
President, Corporate Development
505-269-8317
mlueras@uraniumresources.com
