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Friday
Oct052012

Ur-Energy’s Lost Creek Project Now Fully Permitted - Receives Record of Decision from BLM

Littleton, Colorado (PR Newswire –October 5, 2012) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) is pleased to announce the receipt of the Record of Decision (ROD) from the Bureau of Land Management (BLM) approving the Plan of Operations for the Company’s Lost Creek uranium in-situ recovery (ISR) project in Wyoming, USA.  The ROD represents the final regulatory step needed by the Company to initiate construction and production operations at the project site. 

“With the receipt of the Record of Decision, the activities at our Lost Creek ISR project will rapidly transition to facility construction and mine unit development,” said Jeff Klenda, Chairman of the Board of Ur-Energy. “Lost Creek is our Company’s premier project.  The next several months will be a very exciting period for Ur-Energy as we grow from a company conducting exploration and development activities to emerge as a viable Wyoming-based uranium production company.  I anticipate the Lost Creek mine becoming an important contributor to South-Central Wyoming’s economic development and employment opportunities for many years to come.”

Facility construction will start this month at the Lost Creek Project site.  During the next six to nine months, the Company will invest 30 to 40 million dollars in the project, located in Sweetwater County, Wyoming.  First production from Lost Creek is forecast for early summer of 2013.  The project is currently expected to produce more than seven million pounds of uranium yellowcake (U308) at a designed rate of one million pounds per year. 

Through a comprehensive regulatory review process, Ur-Energy has obtained all of the permits and licenses required to produce uranium at the Lost Creek Project site.  The US Nuclear Regulatory Commission issued its license in August 2011.  The State of Wyoming Department of Environmental Quality (WDEQ) approved a Permit to Mine in October 2011.  The Company received the necessary permit to install and operate Class I water disposal wells from the WDEQ and the US Environmental Protection Agency.  Those agencies also approved an aquifer exemption authorizing the Company to conduct injection activities in the production well fields.

“We appreciate the thoroughness of all the regulatory agencies throughout the permitting process,” noted Wayne Heili, President and CEO of Ur-Energy.  “The comprehensive nature of the regulatory review process has included multiple opportunities for public input.  The efforts of the involved agency staffs have produced a foundation of permits and licenses on which we can build a model uranium recovery operation for the future of the Company.  My compliments go out to the regulatory community for their commitment to the values and mission of the agencies they represent.  I would also like to extend my appreciation to the multi-talented team at Ur-Energy for their dedicated efforts in achieving the completion of the permitting efforts for this project.”

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 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, IR/PR

 

Wayne Heili, President and CEO

303-269-7707

 

307-265-2373

866-981-4588

 

866-981-4588

Click here to contact Rich

 

Click here to contact Wayne


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., timing of construction and commencement of production at Lost Creek; the anticipated life of mine and recovery estimates of 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. 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; 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

Friday
Aug172012

Ur-Energy Receives the Lost Creek Final Environmental Impact Statement from BLM

Littleton, Colorado (PR Newswire – August 17, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that the Bureau of Land Management (BLM) Rawlins Field Office has released the Final Environmental Impact Statement (EIS) for the proposed Lost Creek uranium in situ recovery project in Sweetwater County, Wyoming.

The BLM has selected the Drying Yellowcake On-Site Alternative as the preferred alternative in the Final EIS.  This action involves drying the uranium oxide into a solid yellowcake product. Housing the drying-packaging facility within the processing plant will reduce shipments from the site, resulting in fewer transportation-related impacts, fewer wildlife disturbances, and cleaner air quality.  The Final EIS is not a decision document. A Record of Decision is expected to be signed shortly after the Final EIS availability period closes thirty (30) days from today.

Wayne W. Heili, President and CEO of the Company stated, “I am extremely pleased to share news of this significant development for the Ur-Energy’s flagship project.  The completion of the Final EIS by the BLM marks the start of a very exciting time for Ur-Energy and its shareholders.  During the next 30 days our technical team and general contractor will be finalizing schedules and logistics for ground breaking and the commencement of construction activities at the project site.”

The Lost Creek Project will be fully authorized for construction with the receipt of the BLM Record of Decision.  The BLM has worked closely with the other permitting agencies in the preparation of this document including the Environmental Protection Agency (EPA), the Nuclear Regulatory Commission (NRC), the State of Wyoming Department of Environmental Quality (WDEQ), the Wyoming Game and Fish Department and Sweetwater County, Wyoming.  The NRC issued Lost Creek ISR, LLC a license in August 2011. The WDEQ issued the project a permit to mine in October 2011.  The Project also has an EPA approved aquifer exemption for injection into the mining zones and a permit for the construction and operation of Class I injection wells for the disposal of excess water.

The Company is anticipating a six to nine month timeframe for construction and commissioning of the Lost Creek facilities.  First production will follow in late spring or early summer of 2013.

 

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 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, IR/PR

 

Wayne Heili, President and CEO

303-269-7707  

 

307-265-2373

866-981-4588     

 

866-981-4588

Click here to contact Rich   

 

Click here to contact Wayne

Cautionary Note Regarding Forward-Looking Information

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 of receipt of the BLM record of decision and commencement of construction and production 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.  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; 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.  Reader 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

Friday
Jul272012

Ur-Energy Reports Second Quarter 2012 Results

Littleton, Colorado (PR Newswire – July 27, 2012) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) announces it has filed the Company’s Unaudited Interim Consolidated Financial Statements and Management’s Discussion and Analysis, for the periods ended June 30, 2012, with Canadian securities authorities on the Company’s profile at www.sedar.com and with the U.S. Securities and Exchange Commission on the Company’s profile at http://www.sec.gov/edgar.shtml.  These filings may also be accessed on the Company’s website at www.ur-energy.com.                                                                                                       

 

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 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 MKT 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, IR/PR                          Wayne Heili, President and COO

303-269-7707                                                307-265-2373

866-981-4588                                                866-981-4588

Click here to email Rich                                 Click here to email Wayne

 

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; 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
Jul242012

Ur-Energy Enters into Definitive Agreement to Acquire Pathfinder Mines Corporation

Littleton, Colorado (PR Newswire – July 24, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce the execution of a Share Purchase Agreement to acquire, through its wholly-owned subsidiary Ur-Energy USA Inc., Pathfinder Mines Corporation (“Pathfinder”). 

Pathfinder owns the Shirley Basin and Lucky Mc (pronounced “mac”) mine sites in the Shirley Basin and Gas Hills mining districts of Wyoming, respectively, from which it historically produced more than seventy-one million pounds of uranium, primarily from the 1960s through the 1990s.  Internal historic reports prepared by Pathfinder estimate the presence of remaining resources at the two projects totalling approximately 15 million pounds U3O8.  These historic reports estimate that the Shirley Basin project holds over 10 million pounds U3O8 at a GT (grade-thickness) cut off of 0.25 ft%.  The average grade reported for the property is 0.21% U3O8.  Lucky Mc holds an additional 4.7 million pounds U3O8 at similar grade.  These historic resource calculations were reviewed by Ur-Energy during a due diligence investigation but a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves under  National Instrument 43-101 and Ur-Energy is not treating the historic estimate as current mineral resources or mineral reserves.  The tailings facility at the Shirley Basin site is one of the few remaining facilities in the U.S. that is licensed by the United States Nuclear Regulatory Commission (“NRC”) to receive and dispose of byproduct waste material from other in-situ uranium mines.

Wayne W. Heili, President and CEO of the Company stated, “I am extremely pleased to announce this acquisition.  Adding the Shirley Basin and Lucky Mc properties to our flagship Lost Creek Property and other exploration projects provides Ur-Energy excellent prospects for the expansion of our operations over coming years.  This transaction brings a highly accretive set of assets and historic mineral resources.”

The transaction calls for the purchase of all issued and outstanding shares of Pathfinder from its sole shareholder, COGEMA Resources, Inc., an AREVA Mining affiliate, for US$13,250,000.  The initial payment of US$1,325,000 was made upon execution of the Share Purchase Agreement and will be held in escrow pending the approval by the NRC for the change of control of the NRC License for the Shirley Basin mine site.  Subject to that and other regulatory and governmental approvals, together with customary closing conditions, closing of the transaction is anticipated in 6 – 12 months.  

Together with property holdings of patented lands, unpatented mining claims, and State of Wyoming and private leases totalling more than 5,100 acres (3,300+ acres at Shirley Basin; 1,800+ at Lucky Mc), the Company acquires all historic geologic, engineering and operational data related to the two areas held by Pathfinder.  Additionally, Ur-Energy acquires all historic Pathfinder U.S. exploration and development data in a database estimated to comprise hundreds of project descriptions in more than twenty states, including thousands of drill logs and geologic reports.

John W. Cash, Vice President Regulatory Affairs, Exploration and Geology for Ur-Energy noted, “We are anxious to close the transaction in order to complete an analysis by a qualified person of the historic estimates and to prepare an NI 43-101 compliant mineral resource estimate, as well as to commence baseline studies for the initiation of regulatory applications, initially at the Shirley Basin site.  As well, we anticipate that the historic exploration and development databases which are an integral part of this acquisition will provide abundant opportunity for new exploration targets and for resale to third parties.”

Both Lucky Mc and Shirley Basin conventional mine operations were suspended in the 1990s due to low uranium pricing and facility reclamation was substantially completed.  After closing of the transaction, the Company will assume responsibility to complete the remaining reclamation work at Shirley Basin and at the Lucky Mc mine site. The Lucky Mc tailings site was fully reclaimed and has been transferred to the United States Department of Energy.  Ur-Energy will therefore assume no obligations with respect to the NRC License at the Lucky Mc tailings site, which will either be terminated or will be assumed by COGEMA or an affiliate prior to the closing of the transaction.

Finally, various former Pathfinder personnel with decades of invaluable institutional knowledge are available to the Company for some period of time through ongoing consulting agreements.

Ur-Energy also is progressing various opportunities for its Lost Creek Project.  The Company awaits the final regulatory authorization for Lost Creek from the U.S. Bureau of Land Management (BLM).  The BLM is near completion of its environmental review process following the close of public comments related to a draft environmental impact statement (“EIS”) in June.  The projected completion date for the Lost Creek Project final EIS, and issuance of a record of decision by the BLM, is anticipated later in the summer of 2012. The NRC and the Wyoming Department of Environmental Quality previously granted approvals for the Project.  The Company plans to begin construction at the Lost Creek Project following receipt of the record of decision, followed by production in the spring of 2013. 

Ur-Energy is currently in discussions with several financial sources to secure debt financing for the costs associated with the construction and development of the Lost Creek Project plant and initial well field facilities.  Although the Company maintains a well funded treasury, the debt instruments being considered would provide additional flexibility to advance the Pathfinder acquisition and pursue other prospective development and acquisition opportunities.

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 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, IR/PR

 

Wayne Heili, President and CEO

303-269-7707  

 

307-265-2373

866-981-4588     

 

866-981-4588

Click here to email Rich 

 

Clcik here to email Wayne

 

Cautionary Note Regarding Forward-Looking Information

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 ability and timing of the Company to obtain all necessary approvals for and to close the purchase transaction; the ability to confirm the mineral resources estimated by historic reports to complete an NI 43-101 compliant resource; the anticipated value of the assets and databases being acquired; the timing of receipt of the BLM record of decision and commencement of construction and production at Lost Creek; and the ability of the Company to secure debt or other project financing  related to the Lost Creek Project) 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; 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.  Reader 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
Apr302012

Ur-Energy Confirms Increase in Resources and Updates Lost Creek Property Economics

Littleton, Colorado (PR Newswire – April 30, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has issued an updated Preliminary Economic Assessment (PEA) for the Lost Creek Property (the “Property”).  This assessment confirms the 45% increase in the Measured and Indicated mineral resources for the Property announced on April 4, 2012, which is the result of recent acquisition of lands immediately adjacent to the Lost Creek Project. 

Ur-Energy generated this PEA in accordance with Canadian NI 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) to provide an updated mineral resource estimate for the Lost Creek Property prompted by recent acquisition of adjacent mineral properties.  The new PEA demonstrates the enhanced economic viability of the mineral resources at the Property.  The economic analysis focuses on the resources within the Lost Creek and LC East Projects due to the preponderance of data available there. The economic analysis estimates the Lost Creek Project will generate net earnings over its life, before income tax, of US$283.0 million from the projected production of 7.38 million pounds U3O8.  It is estimated that the Project has a calculated Internal Rate of Return (IRR) of 87% and a Net Present Value (NPV) of US$181.0 million applying an eight percent discount rate. The estimated operational cost for the Project is US$16.12 per pound of uranium produced, while the total cost of uranium production including all required capital spending is estimated at US$36.52 per pound.

Wayne Heili, President and CEO of the Company shared “I am extremely pleased with results of Ur-Energy’s latest PEA.  Not only have we been able to significantly expand the mineral resources at the Lost Creek Property, but we continue to demonstrate its economic viability.  Definition of this Property continues to validate its excellent potential as shown through continued increases in compliant resources.”

The April 2012 PEA incorporates all drilling data and analyses of the Company using the GT contour method, which is well suited for detailed mine planning and estimates of resources for the type of roll front mineralization found on the Property.  The current mineral resources are as follows:

Lost Creek Property Mineral Resources as of April 30, 2012

PROJECT 

MEASURED

INDICATED

INFERRED

AVG GRADE

% eU3O8

SHORT TONS

(X 1000)

POUNDS

(X 1000)

AVG GRADE

% eU3O8

SHORT TONS

(X 1000)

POUNDS

(X 1000)

AVG GRADE

% eU3O8

SHORT TONS

(X 1000)

POUNDS

(X 1000)

LOST CREEK

0.055

2,692.1

2,942.9

0.058

2,413.8

2,822.4

0.054

937.5

1,015.7

LC EAST

0.054

1,158.3

1,255.9

0.043

1,551.3

1,327.0

0.045

910.8

815.3

LC NORTH

-----

-----

-----

-----

-----

-----

0.048

413.8

398.2

LC SOUTH

-----

-----

-----

-----

-----

-----

0.042

710.0

602.6

LC WEST

-----

-----

-----

-----

-----

-----

0.109

17.2

37.4

EN

-----

-----

-----

-----

-----

-----

-----

-----

-----

GRAND TOTAL

0.055

3,850.4

4,198.8

0.053

3,965.1

4,149.4

0.049

2,989.2

2,869.1

 

 

 

MEASURED + INDICATED =

7,815.5

8,348.2

 

 

 

Notes:

1.       Sum of Measured and Indicated tons and pounds may not add to the reported total due to rounding.

2.       Mineral resources that are not mineral reserves do not have demonstrated economic viability.

3.       Based on grade cutoff of 0.02 percent eU3O8 and a grade x thickness cutoff of 0.30 GT.

4.       Typical ISR industry practice is to apply a GT cutoff in the range of 0.30 which has generally been determined to be an economical cutoff value.  This 0.30 GT cutoff was used in this evaluation without direct relation to an associated price.

5.       Measured, Indicated, and Inferred Mineral Resources as defined in Section 1.2 of NI 43-101 the CIM Definition Standards (CIM Council, 2010).

6.       The Total Average Grade for each category is a weighted average of each of the Projects.     

The Lost Creek Property is located approximately 90 miles southwest of Casper, Wyoming.  It consists of six contiguous Project areas:  Lost Creek, LC East, LC North, LC South, LC West, and EN.   Including the recent additions to the land position, the Company now controls approximately 43,500 acres of federal mining claims and State of Wyoming Leases as shown here.  

Ur-Energy is currently advancing the Lost Creek Project through the permitting process.  To date, the U.S. Nuclear Regulatory Commission and the Wyoming Department of Environmental Quality have granted approval for the Project.  The U.S. Bureau of Land Management (BLM) is continuing its review with an anticipated completion date in the summer of 2012.  The Company plans to begin construction at the Lost Creek Project during the summer of 2012 followed by production in the spring of 2013.  The LC East resources are also anticipated to provide production feed to the Lost Creek facility following further delineation and successful permitting. 

Cautionary statement: this Preliminary Economic Assessment is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The estimated mineral recovery used in this Preliminary Economic Assessment is based on site-specific laboratory recovery data as well as URE personnel and industry experience at similar facilities.  There can be no assurance that recovery at this level will be achieved.

The full report titled “Preliminary Economic Assessment of the Lost Creek Property, Sweetwater County, Wyoming,” dated April 30, 2012 is available on the Company’s profile on SEDAR (www.sedar.com) and on EDGAR (http://www.sec.gov/edgar.shtml). The PEA is also available on the Company’s website at www.ur-energy.com.  This technical report supersedes the February 29, 2012 “Preliminary Economic Assessment of the Lost Creek Property, Sweetwater County, Wyoming”. 

John Cooper, Ur-Energy Project Geologist, P.Geo. and SME Registered Member, and a Qualified Person as defined by NI 43-101, and Catherine Bull, Ur-Energy Project Engineer, Wyoming P.E., and a Qualified Person as defined by NI 43-101, have reviewed and approved the technical disclosure contained in this news release.  Mr. Cooper has verified the sampling, analytical and test data underlying the mineral resource estimate disclosed in this news release.

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 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, IR/PR

 

Wayne Heili, President and CEO

303-269-7707  

 

307-265-2373

866-981-4588     

 

866-981-4588

rich.boberg@ur-energyusa.com     

 

wayne.heili@ur-energyusa.com

 

Cautionary Note to U.S. Investor Concerning Resource Estimates

This press release uses the terms “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource.”  The Company advises U.S. investors that while these terms are recognized and required Canadian regulations, the United States Securities and Exchange Commission (SEC) does not recognize them.  U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.  “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their legal and economic feasibility.  It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.  Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.  U.S. investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically minable.

Cautionary Note Regarding Forward-Looking Information

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 technical and economic viability of the Lost Creek Project; the further development of the resources to be a part of the production at the Lost Creek mine; the potential to develop additional resources on the Lost Creek Property; and, the receipt and related timing of the final approval from the BLM and associated timing for the commencement of construction and production 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.  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; 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.  Reader 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