LEWISVILLE, TX, August 2, 2010 -- Uranium Resources, Inc. (NASDAQ:� URRE) (�URI�), at a
public meeting that was held Thursday, July, 28 at the offices of the U.S.
Nuclear Regulatory Commission (�NRC�) in Rockville, Maryland, stated its intent
to file the necessary documents to place its Crownpoint Uranium Project Source
Materials License in active status and outlined its plans for the license
renewal.� The meeting follows the U.S.
Tenth Circuit Court of Appeals rulings that upheld the NRC license.
URI�s
representatives at the meeting informed the NRC staff that the Company will
file all the information requested by the NRC during the hearing process to
reactivate the license which is currently in timely renewal status.� URI will then proceed to renew the license for a standard
10-year term.� Once active, during the
renewal process, the license may be utilized according to its present terms and
conditions.
The
Company�s license allows for production of up to one million pounds of uranium
per year for the initial project, after which it must demonstrate certain
restoration parameters and can then move forward to produce up to three million
pounds per year.� The Section 8 portion of the NRC
licensed area contains 6.5 million pounds of in-place mineralized uranium
material and there are 33.9 million pounds of in-place mineralized uranium
material that can be produced under its NRC Source Materials License. �
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 where the Company
currently has ISR mining projects.� URI
also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of
in-place mineralized uranium material in New Mexico
and a NRC license to produce up to 1 million pounds of uranium per year.� The Company acquired these properties over
the past 20 years along with an extensive information database of historic
mining logs and analysis.� None of URI�s
properties is currently in production. �
URI�s strategy is to fully exploit its resource base in New
Mexico and Texas, expand its asset base both within and outside of New Mexico
and Texas, partner with larger mining companies that have undeveloped uranium
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 web site at ww.uraniumresources.com.
Safe Harbor Statement
This press 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 press release.
Investor Contact:
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Company Contact:
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Deborah K. Pawlowski/James M. Culligan
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Don Ewigleben
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Kei Advisors LLC
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President and Chief Executive Officer
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Phone:�
716.843.3908/ 716.843.3874
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Phone:� 972.219.3330
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Email: dpawlowski@keiadvisors.com/jculligan@keiadvisors.com
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Media Contact:
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April Wade
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Ph:� 505.440.9441
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E-mail:� awade@uraniumresources.com
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