Ur-Energy’s
Lost Creek Permitting Advances
Denver, Colorado (Marketwire –
July 27, 2009) Ur-Energy Inc.
(TSX:URE, NYSE Amex:URG) (“Ur-Energy” or “the Company”) is
pleased to announce the submission of key permit applications and continued
progress toward completion of licensing for the Lost Creek
project. “Our team
of first-class professionals is making continual progress in advancing Lost
Creek toward production,” said Bill Boberg, President &
CEO. “There is
significantly more permitting required than the two major permits from the
Nuclear Regulatory Commission (NRC) and the Wyoming Department of Environmental
Quality (WDEQ). Of particular importance is the deep disposal well
permit, the Class I UIC Permit, without which In-Situ Recovery operations cannot
operate.”
On June
29, 2009, the Company submitted an application for a Class I Underground
Injection Control (UIC) Permit to the Wyoming Department of Environmental
Quality, Water Quality Division (WDEQ-WQD). The application,
supported by a substantial amount of site-specific data obtained from a test
well drilled within the Lost Creek permit area, shows that a Class I permit
approach is applicable for the water disposal systems needed at the
site.
“This application supports the
suitability of a Class I UIC permit for the Lost Creek disposal well
systems. The comprehensive information provided should facilitate the
review and approval process of the WDEQ,” said Steve Hatten, Manager of
Engineering. “Our
approach to this key application has been to invest the proper effort up-front
to clearly demonstrate how our disposal needs can be met by an appropriately
permitted on-site system.”
Also on
June 29, 2009, the Company provided its Development Plan Application to the
Sweetwater County Land Use Department in accordance with the County
regulations. The Development Plan application outlines the Company’s
detailed site design information related to access, right-of-ways, site plan,
drainage, fire protection and other public health and safety
items. John Cash, Manager of Environment, Health, Safety and
Regulatory Affairs states, “This application contains a
significant amount of detailed engineering information for the Lost Creek
site. Not only does the submittal of the application reflect the
Company’s organized approach to obtaining all necessary federal, state and local
permits, but it also reflects the advanced state of engineering and design work
prepared for the Lost Creek project.”
In
reviewing the progress toward complete licensing of the Lost Creek project,
Wayne Heili, Vice President of Mining & Engineering noted, “Beyond working cooperatively with
the Nuclear Regulatory Commission and WDEQ to complete the technical foundations
of our primary license and permit applications, the Ur-Energy team has committed
itself to pursue all available avenues to maintain our aggressive construction
and development plans for the Lost Creek project. We will continue our
concentrated effort to obtain all the required licenses and permits in a timely
way.”
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 and its
registered office is in Ottawa, Ontario. Ur-Energy’s website is
www.ur-energy.com.
FOR
FURTHER INFORMATION, PLEASE CONTACT:
|
Dani
Wright-Jones, Manager, Investor/Public Relations
1-720-981-4588, ext. 242
1-866-981-4588
dani.wright@ur-energyusa.com
|
Bill
Boberg, President and CEO
1-720-981-4588, ext. 223
1-866-981-4588
bill.boberg@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. production
rates, timetables and methods at Lost Creek; sufficiency of cash to fund capital
requirements; receipt of (and related timing of) an NRC Source Material License
and WDEQ Permit to Mine and other necessary permits related to Lost Creek;
procurement and construction plans, and the Lost Creek production
timeline; the
completion and timing of exploration programs, etc. 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.
