Ur-Energy
Announces Approval of Lost Creek
Development
Plan by Sweetwater County
Denver, Colorado (Marketwire –
December 3, 2009) Ur-Energy
Inc. (TSX:URE, NYSE Amex:URG) (“Ur-Energy” or the “Company”)
is pleased to announce the approval of its Lost Creek Project Development Plan
by the governing officials of Sweetwater County Wyoming, where the project is
located. The Development Plan was submitted by Lost Creek ISR, LLC, a
wholly-owned subsidiary of the Company.
On
December 1, 2009, the Sweetwater County Commissioners unanimously approved the
Development Plan for the Lost Creek Project. The Development Plan
describes in detail the infrastructure and facilities which will be constructed
at the planned uranium ISR production site. This approval is the
culmination of two years of cooperative work with the County which included
rezoning of the permit area from agriculture to mining and a total of five
public meetings. No opposition to the project was voiced at any of
the public meetings.
Prior to
consideration by the County Commissioners, the Development Plan was scrutinized
by the County Engineering Department and forwarded to the County’s Planning and
Zoning Commission for review. After due consideration, the Planning
and Zoning Commission voted 5-0 in September 2009 to recommend approval of the
requested plan. Going forward, the County Planning and Zoning staff
will review construction plans to ensure all applicable building, electrical and
fire safety codes are met and commitments in the Development Plan are adhered
to. With the approval of the Commissioners, no additional public
meetings are required by the County.
John
Cash, Manager of EHS and Regulatory Affairs stated, “Lost Creek ISR, LLC
cooperatively participated in the re-zoning and Development Plan processes
because the County plays a significant role in maintaining site access and
planning for and responding to emergency situations. We believe the
collaborative effort with the County has resulted in improved facility design
and emergency response capabilities.”
Wayne
Heili, Vice President of Mining and Engineering added, “Ur-Energy sincerely
appreciates the involvement of the Sweetwater County staff and officials in the
planning of the Lost Creek Project. The well-informed and
overwhelming support of the Sweetwater County government and its people is a
great demonstration that Southwestern Wyoming is indeed the right jurisdiction
to be developing new mineral resource projects.”
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:
|
Investor/Public
Relations
|
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., receipt of (and related timing of)
all other necessary permits related to Lost Creek Project, and the Lost Creek
timeline) 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.
