Ur-Energy
Receives Permit
For
Holding Ponds at Lost Creek
Denver, Colorado (Market Wire
– June 04, 2010) Ur-Energy Inc.
(TSX:URE, NYSE Amex:URG) is pleased to announce the receipt of permit
approval from the Wyoming State Engineer’s Office for the
construction and operation of waste water retention ponds for Ur-Energy’s Lost
Creek In-situ Recovery (ISR) uranium project in Wyoming. The approval
of this important permit continues to demonstrate measurable progress in the
Company’s effort to fully permit Ur-Energy’s wholly owned Lost Creek ISR
project.
The
Wyoming State Engineer’s Office (WSEO) finalized its approval of the holding
pond designs on May 28, 2010. The permit authorizes Ur-Energy to
construct and operate two water holding ponds for the purpose of water
management at the Lost Creek site. This authorization, in combination
with the Wyoming Department of Environmental Quality (WDEQ) Class I UIC permit,
also issued recently, demonstrates the viability of the water management systems
planned for the Lost Creek Project (see Ur-Energy’s June 1, 2010 press release
for more information on the Class I UIC permit). The early approval
of these critical facilities underscores the substantial progress in finalizing
the permitting of the Lost Creek project being conducted by the U.S. Nuclear
Regulatory Commission and the WDEQ Land Quality Division.
Wayne
Heili, Vice President of Mining and Engineering stated, “Approval of this and
other recently authorized permits illustrates the value of Ur-Energy’s thorough
approach to regulatory and permitting affairs for the Lost Creek
Project. I am looking forward to completing work on the remaining
licenses and permits with the various state and federal regulatory agencies over
the coming months.”
W.
William Boberg, President and CEO, a Professional Geologist, and Qualified
Person as defined by National Instrument 43-101, supervised the preparation of
and reviewed the technical information contained in this release.
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; its
registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.
FOR
FURTHER INFORMATION, PLEASE CONTACT
|
Rich
Boberg, Director Public Relations
303-269-7707
866-981-4588
rich.boberg@ur-energyusa.com
|
Bill
Boberg, President and CEO
303-269-7755
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; sufficiency of cash to fund capital
requirements; receipt of (and related timing of) an NRC Source Material License
and WDEQ Permit to Mine and all other necessary permits and regulatory authority
related to Lost Creek; and the sustainability and timeline of Lost Creek
production) 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.