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Ur-Energy 2010 News Releases

Wednesday
Dec222010

LC South Drilling Program Defines Additional Uranium Roll Front Systems

 

Denver, Colorado (Marketwire – December 22, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that its 2010 exploration drilling program on its LC South project defined numerous individual uranium roll front systems occurring within several stratigraphic horizons.  In roll front systems uranium concentrates as deposits along boundaries between reduced and oxidized sandstone (also called redox fronts). The initial recognition of the presence of such zones is the critical first step in developing uranium resources in a roll-front environment.

Ur-Energy has completed a three-month exploration drilling program on its 17 square mile (44 square km) LC South property, which lies immediately south of Ur-Energy’s Lost Creek project.  Lost Creek is currently in the advanced stages of obtaining all necessary permits to recover uranium by means of In-Situ Recovery (ISR).

Four drill rigs were used for the program.  A total of 159 drill holes, with depths to 1200 feet (366 m), below surface were completed for a total of 101,270 feet (30,867 m). The objective of the program was to evaluate host stratigraphic formations and to better define the location and nature of mineralized roll fronts. Earlier, a detailed evaluation of Ur-Energy’s extensive historic exploration drill hole database had identified roll front environments in the area.

The drilling program confirmed that uranium mineralization occurs in the same stratigraphic and roll-front horizons as those present at Lost Creek: the HJ and KM stratigraphic horizons (see Ur-Energy Press Release dated March 17, 2010). These occur as multiple stacked mineralized fronts associated with a regional alteration system that terminates within the LC South property boundaries.  In addition, the drilling program identified deep alteration and uranium mineralization which demonstrates the strong potential for several additional mineralized roll fronts in deeper horizons within the property.  Examples of these deeper holes are hole LCS 129 which contained 4 feet (1.2 meters) of 0.067% eU3O8 in the M stratigraphic horizon at 817 feet (249 meters) and hole LCS 131 which contained 4 feet (1.2 meters) of 0.04% eU3O8 in the L stratigraphic horizon at 574 feet (175 meters) and 3.5 feet (1 meter) of 0.033% eU3O8 in the P stratigraphic horizon at 824 feet (251 meters).  The average grade at the Lost Creek project is 0.058% eU3O8, a grade at which economic recovery by ISR can be achieved. 

The results of the 2010 drilling program reinforce the prospective character of the LC South property as a potential source of additional resources to supply the Lost Creek ISR facility. Ur-Energy’s geologic team is currently developing plans for a drilling program which will further define the identified roll front systems with the goal to develop resources associated with them.

Bill Boberg, President & CEO stated “We’ve always considered that the ability to define additional resources in the area of the Lost Creek project has been one of the strengths of the project.  Because most historic drilling within the area has been generally in the range of 300 to 500 feet we had only very limited information on the many additional mineralized stratigraphic horizons down to depths of 1200 feet, a depth still very amenable to ISR mining.  After starting our 2010 drill program we realized that we really needed to have a wide-spaced grid of deeper holes to enable us to better plan future drilling to get the most value from our drilling program rather than attempting to define additional shallow resources at this time without knowing what roll fronts might exist at depth.  This drilling program was significant in that it enabled us to better define the presence of many individual roll front systems contained within multiple stratigraphic horizons to depths of 1200 feet on our LC South property.”

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the constru

ction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

 

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

 

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., the timing, completion and results of the exploration programs at LC South; the ability to further define identified roll front systems or convert potential of the exploration targets to inferred resources; whether additional resources will extend the life of mine at Lost Creek) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Note that the potential quantity and grade ranges described with regard to the new exploration targets are conceptual in nature. There has been insufficient exploration to define a mineral resource.  It is uncertain if further exploration will result in any or all of the targets being delineated as a mineral resource. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.

 

Click here for PDF of this News Release

Wednesday
Dec012010

Ur-Energy Announces Proceeds of C$3.0M from the Exercise of Expiring Employee Stock Options

 

Littleton, Colorado (Marketwire – December 1, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce it has received proceeds of C$3.0M from the exercise of 2,400,800 employee stock options that were scheduled to expire on November 17, 2010.   These employee stock options were awarded to employees, officers and management on November 17, 2005 at a strike price of $1.25 upon the approval by the Company’s Board of Directors adopting the Company’s stock option plan.     

“We are pleased that our employees were able to exercise and take advantage of an important element of their compensation benefit which also resulted in an additional C$3.0M added to our funds as we move closer to receipt of our permits and licences”  stated Bill Boberg, President and CEO. 

                                                                                                                   

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.

 

Click here for PDF of this News Release

Tuesday
Nov022010

Ur-Energy Announces Third Quarter 2010 Financial Results

Littleton, Colorado(Marketwire – November 2, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) announces it has filed the Company’s Unaudited Interim Consolidated Financial Statements and Management’s Discussion & Analysis, for the period ended September 30, 2010, with Canadian securities authorities on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.  The MD&A can be accessed here, and the Financial Statement can be accessed here.

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility.  Engineering for the process facility is complete and mine planning for the first two mine units is at an advanced stage. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

 

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

 

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.

 

Click here for PDF of this News Release

Monday
Aug022010

Ur-Energy Reports Second Quarter Results

 

                                                    

Littleton, Colorado (Marketwire – July 30, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) announces it has filed the Company’s Unaudited Interim Consolidated Financial Statements and Management’s Discussion & Analysis, for the period ended June 30, 2010, with Canadian securities authorities on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.  These filings will also be available on the Company’s website at www.ur-energy.com.                                                                                                                    

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

 

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.

Friday
Jul022010

Ur-Energy Announces Results of Annual and Special Meeting

 

Denver, Colorado (Marketwire – July 2, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that the shareholders of the Company approved all three resolutions before them at the Annual and Special Meeting of Shareholders (“Meeting”) held on June 24, 2010 in Littleton, Colorado.  The items of business at the Meeting included the election of Directors, reappointment of auditors of the Company, and the resolution to approve the adoption of the Company’s Restricted Share Unit Plan (“RSU Plan”). 

  • Shareholders elected the following individuals to be Directors to the Board for the upcoming year: W. William Boberg, James Franklin, Jeffrey Klenda, Paul Macdonell, and Thomas Parker. 

 

  • Shareholders approved the reappointment of PricewaterhouseCoopers LLP as auditors of the Company until the next annual meeting of shareholders.  PricewaterhouseCoopers LLP and its affiliates have been Ur-Energy’s auditors since December 2004.

 

  • Shareholders approved the Ur-Energy Inc. Restricted Share Unit Plan as adopted by the Board of Directors on May 7, 2010.  The RSU Plan is established as a vehicle by which equity-based incentives may be awarded to attract and retain employees, and to recognize and reward their significant contributions to the long-term success of Ur-Energy.  Increased share ownership will also encourage alignment of the employees and directors interests more closely with the shareholders of the Company.  The RSU Plan becomes part of the Company’s existing overall stock-based compensation plan where the maximum number of common shares available for issuance in the aggregate under the RSU Plan and Company’s Option Plan, as amended, is equal to 10% of the number of common shares of the Company issued and outstanding at the time of grant. 

Bill Boberg, President & CEO stated, “The management of Ur-Energy would like to express its heartfelt gratitude to the shareholders of the Company who participated and voted their shares, by proxy, for this year’s Annual and Special Meeting.  Your support is greatly appreciated.  I particularly want to thank the shareholders for overwhelmingly approving the RSU Plan Resolution.  We have put significant effort into building an outstanding team of technical professionals and the RSU Plan provides us with another tool, to be used as part of our existing stock based compensation plan for all employees.  We have issued options to all employees of the Company in the past and now, with the RSU Plan, we will be able to provide an additional means of providing a significant incentive as well as assuring retention of our fine staff.  Thank you, we appreciate the strong showing of support!”

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.

 

Click here for PDF of this News Release