LITTLETON, Colo., June 24, 2015 /CNW/ -- Ur-Energy Inc.(NYSE MKT:URG, TSX:URE) ("Ur‑Energy" or the "Company") is pleased to announce that they reached a major production milestone at their Lost Creek Project when they drummed and shipped their one millionth pound of U3O8. The drum containing the millionth pound was filled on June 15, 2015 and it was shipped to the conversion facility on June 19, 2015. This was the thirtieth shipment to leave the Lost Creek Plant since production started in August 2013.
Steve Hatten, Vice President Operations, stated, "We are very proud of our team and their continued ability to meet and surpass the goals we set. The one million pound mark is a significant milestone in the operational achievements of this Project and we look forward to continued success in our future production efforts."
Lost Creek is currently producing from the first ten header houses in mine unit one, whose measured mineral resource was recently increased in the Technical Report dated June 17, 2015. The staff at Lost Creek is also planning on initiating its 2015 drilling program with development work in mine unit two and additional resource replacement drilling on the Lost Creek Project.
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. The Lost Creek processing facility has a two million pounds per year nameplate design capacity. Shirley Basin, our newest project, is one of the Pathfinder Mines assets we acquired in 2013. Baseline studies necessary for permitting and licensing of the project are currently being advanced. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on the NYSE MKT under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." 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.
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Cautionary Note Regarding Forward-Looking Information: 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., the potential to develop additional resources at Lost Creek; the outcome of drill programs, and the timing and results of the development of mine unit two; and the results of continued production operations) 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; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; fluctuations in commodity prices; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. 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.
SOURCE Ur-Energy Inc.