European Uranium Takes Next Step in Kuriskova Uranium Feasibility Study
European Uranium Resources Ltd. (EUU: TSX-V; TGPN: Frankfurt) provides
an update on the progress of the feasibility study for the Company′s
high-grade Kuriskova uranium deposit in Slovakia. The Kuriskova deposit
is one of the world′s highest grade undeveloped uranium deposits at a
grade of 0.555% U3O8. A preliminary feasibility
study demonstrates that Kuriskova could be one of the lowest cost
uranium producers in the world.
Composite samples for ongoing metallurgical testwork were recently
prepared using drill core from the newly completed metallurgical
drilling program (see news releases dated June 26 and July 24, 2012).
Where necessary, to bring composite grade to the appropriate level for
the test work, quarter core from previously drilled holes was blended
into the sample. The samples have been shipped to AREVA′s laboratory
facility at Bessines, France. Metallurgical test work will begin shortly
as part of EUU′s pre-paid technical services agreement with AREVA.
This test work is part of EUU′s ongoing programs and studies to complete
a feasibility study on the Kuriskova deposit. The results of this
metallurgical test program will be used for flow sheet optimization and
further development of design parameters and costing for the feasibility
study. The objective is to optimize the process flow sheet as described
in the preliminary feasibility study. The Company also continues to
advance critical path aspects of the feasibility study as well as the
collection of baseline data for the environmental impact study for the
Kuriskova deposit.
The April 2011 NI 43-101 compliant resource estimate, audited and
approved by Tetra Tech, Inc., comprises an Indicated Resource of 28.5
million pounds of U3O8 at a grade of 0.555% U3O8
contained in 2.3 million tonnes and an additional Inferred Resource of
12.7 million pounds of U3O8 at a grade of 0.185% U3O8
contained in 3.1 million tonnes, at a cut-off of 0.05% U (see news
release dated April 26, 2011). A preliminary feasibility study,
announced January 30, 2012, demonstrates that Kuriskova could be one of
the lowest cost uranium producers in the world.
EUU continues its efforts to define a structure which would allow
uranium from Kuriskova to be developed for the benefit of Slovakia's
energy future. This could be a production off-take arrangement with
Slovakia or a partnership with a Slovak entity.
Qualified Person
This release has been reviewed and approved for the Company by Dorian L.
(Dusty) Nicol, President and CEO of the Company, and a Qualified Person
as defined in NI 43-101.
About European Uranium Resources Ltd.
European Uranium Resources Ltd. is a dedicated European uranium
exploration and development company that has built a portfolio of
outstanding projects in Slovakia, Sweden and Finland at all stages of
the exploration / development pipeline. European Uranium is well placed
to become the key uranium exploration and development company in Europe.
Europe is the world′s largest per capita consumer of uranium with 160
reactors and more under construction or planned, but with only one
currently operating uranium mine. The Company′s Kuriskova Project in
Slovakia could be one of the world′s lowest cost uranium producers.
European Uranium has a strong base of supportive shareholders including
AREVA, ranked first in the global nuclear power industry and a key
player in uranium mining and nuclear operations on a world-wide basis.
EUROPEAN URANIUM RESOURCES LTD.
'Dusty Nicol'
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Doris Meyer, at ?(604) 536-2711,
or visit www.euresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
This news release contains forward-looking statements that are based on
the Corporation's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan',
'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate',
'suggest', 'indicate' and other similar words or statements that certain
events or conditions 'may' or 'will' occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Corporation disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.
To view this press release as a webpage, please click on the following
link:
http://www.fscwire.com/pr/europeanuraniumnov142012.htm
European Uranium Resources Ltd.
Doris Meyer, 604-536-2711
www.euresources.com
