LITTLETON, Colo., Sept. 16, 2015 /CNW/ -- Ur-Energy Inc.(NYSE MKT:URG,TSX:URE) ("Ur-Energy" or the "Company") confirms the Bureau of Land Management's (BLM) Notice of Intent To Prepare an Environmental Impact Statement (EIS) for the Proposed Lost Creek Uranium In-Situ Recovery Project Amendments, Sweetwater County, WY.
The Amendment applications seek approval to:
- Recover uranium via the in situ technique from the KM Horizon in essentially the same footprint as the previously-approved Lost Creek Permit area. Increase the aerial extent of mining in the permitted HJ Horizon.
- Recover uranium via the in situ technique from both the KM and HJ Horizons within the LC East area, immediately adjacent to the permitted Lost Creek Project.
- Increase the overall production rate from 1.0 million pounds of U3O8 to 1.2 million pounds of U308 per year from facility wellfields plus one million pounds of U308 per year from toll milling resin or slurry from other off-site facilities. The resulting maximum production through the existing processing facility would be 2.2 million pounds of U308 per year (up to 1.2 million from wellfields and up to 1.0 million from potential toll processing).
If approved, the proposed Amendment will increase the size of the facility to a total of approximately 642 acres which includes all existing and proposed facilities. The Amendment will allow continued development and production of additional resources within the currently permitted Lost Creek Project as well as the Lost Creek East area. The U.S. Nuclear Regulatory Commission plans to participate in the NEPA process as a cooperating agency.
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 the project are nearing completion. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, 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.
FOR FURTHER INFORMATION, PLEASE CONTACT
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 timing and results of the permitting process for this amendment to the Lost Creek licenses and permitting) 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.