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Monday
Mar252013

Ur-Energy Raises Funds for Ongoing Lost Creek Construction

Littleton, Colorado (PR Newswire – March 25, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) is pleased  to announce the closing of a uranium sales transaction that provides an immediate payment to the Company of approximately US$5.1 million.  Proceeds from the transaction will support the ongoing construction at the Company’s flagship Lost Creek Project.

Ur-Energy, with the cooperation of one of its utility customers, assigned a portion of its contractual delivery obligations to Traxys, a large uranium and natural resource trading company, in exchange for a current cash payment.  Ur-Energy has retained additional future delivery obligations under this and other previously announced uranium sales agreements.

Ur-Energy President and CEO Wayne Heili commented, “The Company is pleased to have the assistance and support of our counter-parties in this transaction.  The transaction, which might best be understood as a sale of contractual future product deliveries, has allowed the Company to raise funds without dilution to our shareholder’s interests or repayment obligations.  The cash infusion will help Ur-Energy in maintaining a steady construction pace at Lost Creek while we await the finalization of the Wyoming Industrial Revenue Bond approval process.” 

The construction efforts at the fully licensed Lost Creek project are continuing on-schedule for initial production this year. Electrical and pipe-fitting work has been initiated within the plant building.  Construction of an auxiliary shop building is also underway.  Two disposal wells have been installed and developed.  The construction of the first mine unit also remains on schedule while the pipeline between the plant and mine unit facilities is being installed.  Updated photographs of the progress of construction at Lost Creek are available at our website:  www.ur-energy.com

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  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 CEO

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 (e.g., timing of completion of construction and commencement of operations at Lost Creek; ability and timing to raise additional funds, including the state bonds process) 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

Monday
Mar042013

Court Denies Petitioner’s Request to Stay Ur-Energy’s Lost Creek Construction

Littleton, Colorado (PR Newswire – March 4, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) provides the following update regarding its Lost Creek Project (the “Project”) and the current legal action seeking review of the BLM’s Record of Decision (see Ur-Energy News Release, January 29, 2013). 

On March 1, 2013 the U.S. District Court for Wyoming denied the petitioner’s motion for preliminary injunction, which had sought to halt the ongoing construction and operations at the Lost Creek Project.  In a 24-page order, the Court determined that the petitioner failed to satisfy any of the legal elements required to obtain the injunction. In making the determination, the Court recognized the comprehensive five-year, multi-agency regulatory approval process conducted for the Lost Creek Project and the substantial progress of construction at the Project prior to the initiation of the legal challenge.  The Court’s order also includes a detailed finding that the petitioner “has not shown a substantial likelihood of success on the merits” of the case requesting the review of the BLM Record of Decision.  With the Court’s order, Ur-Energy will continue construction at the Lost Creek Project as planned while the formal merits review of the BLM Record of Decision proceeds.

Ur-Energy President and CEO Wayne Heili commented, “The Company is glad to receive the Court confirmation that our construction activities may continue at Lost Creek.  I am very pleased with the steady progress made at the Project site and the focus and professionalism shown by the Ur-Energy team throughout the construction effort.  Our team and the selected contractors have worked diligently to maintain the schedule we set out.  We look forward to achieving first production at Lost Creek later this year.” 

At the Lost Creek Plant, the foundation work is complete, the large equipment has been set in place, and the building exterior is fully enclosed.  Multiple trades are currently working on the interior of the plant facilities.  The development of the first mine unit and other auxiliary facilities also remain on schedule.  Photographs of the progress of construction at Lost Creek are available at our website:  www.ur-energy.com

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  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

Wayne Heili, President and CEO

307-265-2373

866-981-4588

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 and outcome of the challenge to the BLM Record of Decision; timing of completion of construction and commencement of operations 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. 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
Mar012013

Ur-Energy Reports 2012 Financial Results

Littleton, Colorado (PR Newswire – March 1, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) announces it has filed the Company’s Annual Information Form and Annual Report on Form 40-F, Consolidated Financial Statements, and Management’s Discussion & Analysis, all for the year ended December 31, 2012, with Canadian securities authorities on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml. These filings also may be accessed on the Company’s website at www.ur-energy.com. Shareholders of the Company may receive a hard copy of the audited consolidated financial statements, free of charge, upon request to the Company.

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  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 CEO

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 (e.g., timing of completion of construction and commencement of operations at Lost Creek; timing and outcome of the challenge to the BLM Record of Decision, including the outcome of petitioner’s motion seeking a preliminary injunction). 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

 

Thursday
Feb212013

Ur-Energy Provides Photos of Lost Creek ISR Project Construction Activities

 Littleton, Colorado (PR Newswire –February 21, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy”) is pleased to share a few photos of the construction activities of the Lost Creek ISR processing facility located in Sweetwater County, Wyoming.

  

Reverse osmosis unit and water treatment and storage tanks

 

Various  tanks used for water  storage and the elution and precipitation processes

 

Steel elution pressure vessels used to remove uranium loaded onto ion exchange resin

 

View of Lost Creek processing plant under construction from the south looking north


Work is continuing and the project remains on schedule for an early summer 2013 completion.  Additional photos of the construction activities can be found in a slideshow at www.ur-energy.com.

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  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 CEO

303-269-7707  

 

307-265-2373

866-981-4588     

 

866-981-4588

rich.boberg@ur-energyusa.com     

 

wayne.heili@ur-energyusa.com

 

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 completion of construction and commencement of operations at Lost Creek; timing and outcome of the challenge to the BLM Record of Decision, including the outcome of petitioner’s motion seeking a preliminary injunction) 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
Jan292013

Ur-Energy Provides Update on its Lost Creek ISR Uranium Mine Project

Littleton, Colorado (PR Newswire – January 29, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) provides the following update on construction at its Lost Creek Project and the legal proceeding filed in November seeking review of the BLM’s Record of Decision (see Ur-Energy News Release, December 4, 2012). 

Construction continues to advance at the Lost Creek Project, with power and roads completed to the construction site.  All footings, walls and pillars are complete within the foundation of the plant building and additional work on the plant pad is continuing.  Wellfield construction is progressing as planned, with work continuing to case and complete the initial production wells.  Subsurface engineering work is nearing completion on both deep disposal wells drilled to date.

Steve Hatten, Vice President Operations, noted “We are very pleased with the continued on-plan progression of construction at the Lost Creek site.  I am very proud of our team’s thorough advance planning, which now is allowing construction to proceed smoothly on all fronts.”

In the legal proceeding pending in U.S. District Court, the Company has been granted status as a party, and filed its opposition to a motion for preliminary injunction filed by the petitioner.  The State of Wyoming, also granted status as a party to the proceeding, has submitted its brief opposing the preliminary injunction.  The BLM had previously filed its opposition.  The motion awaits the Court’s decision. 

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  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

Wayne Heili, President and CEO

307-265-2373

866-981-4588

wayne.heili@ur-energyusa.com

 

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 and outcome of the challenge to the BLM Record of Decision, including the outcome of petitioner’s motion seeking a preliminary injunction; timing of completion of construction and commencement of operations 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. 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

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