Ur-Energy
Receives Draft Supplemental Environmental
Impact
Statement (SEIS) for the Lost Creek Project
Denver, Colorado (Marketwire –
December 9, 2009) Ur-Energy
Inc. (TSX:URE, NYSE Amex:URG) (“Ur-Energy” or the “Company”)
is pleased to announce the release of the Lost Creek Project Draft Supplemental
Environmental Impact Statement (SEIS) by the U.S. Nuclear Regulatory Commission
(NRC). The document was prepared for Lost Creek ISR, LLC (LCI), a
wholly-owned subsidiary of the Company.
In early
December 2009, the NRC released the Draft SEIS for Ur-Energy’s Lost Creek
Project. The NRC staff prepared this SEIS to evaluate the potential
environmental impacts from LCI’s proposal to construct, operate and decommission
an ISR uranium facility at the Lost Creek Project site. The NRC staff
preliminarily finds that, unless safety issues mandate otherwise, environmental
impacts of the proposed issuing of a source material license are not so great as
to make issuance an unreasonable decision. The NRC staff is
continuing its safety evaluation and has also completed its internal Draft
Safety Evaluation Report (SER) document for the project. The positive
recommendation of the Draft SEIS document is an indication of significant
progress toward the approval of the NRC license application of the Lost Creek
Project.
Bill
Boberg, President and CEO of Ur-Energy commented, “Ur-Energy is now realizing the
benefits of the dedicated efforts of its staff to work cooperatively with the
Federal, State and local regulatory agencies. We look forward to the
anticipated completion of these efforts in 2010.”
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., timetables at
Lost Creek; receipt of
(and related timing of) an NRC Source Material License and WDEQ Permit to Mine
and all other necessary permits related to Lost Creek; and the Lost Creek
production timeline)and
are based on current expectations that, while considered reasonable
by management at this time,) 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.
