DENVER, July 12, 2019 /PRNewswire/ -- Ur-Energy
Inc. (NYSE American: URG; TSX: URE) ("Ur-Energy") and Energy Fuels
Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels") confirm
that they are unaware of any decision by the White House with
respect to the U.S. Department of Commerce ("DOC") investigation
into the effects of uranium imports on U.S. national security.
Several news reports are providing conflicting information
regarding a decision by the President on the uranium Section 232
Petition. As of this morning, we have not been informed by the
White House or the DOC that a decision has been made. Once a
decision is made public by the Administration, we will convey the
information via a joint press release.
The investigation was initiated on the basis of a petition by
Ur-Energy and Energy Fuels. DOC submitted the report on its
investigation to the White House on April
14, 2019. The statutory 90-day deadline for the President's
decision runs to July 13, 2019.
About Energy Fuels: Energy Fuels is a leading
integrated U.S. uranium mining company, supplying
U3O8 to major nuclear utilities. Its
corporate offices are in Denver,
Colorado, and all of its assets and employees are in the
western United States. Energy
Fuels holds three of America's key uranium production centers, the
White Mesa Mill in Utah, the
Nichols Ranch Processing Facility in Wyoming, and the Alta Mesa Project in
Texas. The White Mesa Mill is the
only conventional uranium mill operating in the U.S. today and has
a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch Processing
Facility is an in-situ recovery production center with a licensed
capacity of 2 million pounds of U3O8 per
year. Alta Mesa is an in-situ
recovery production center with a licensed capacity of 1.5 million
pounds of U3O8 per year, which is currently
on care and maintenance due to low uranium prices. Energy Fuels
also has the largest uranium resource portfolio in the U.S. among
producers, and uranium mining projects located in a number of
Western U.S. states, including one producing in-situ recovery
project, mines on standby, and mineral properties in various stages
of permitting and development. Energy Fuels also produces vanadium
as a co-product of its uranium production from certain of its mines
on the Colorado Plateau, as market conditions warrant. The primary
trading market for Energy Fuels' common shares is the NYSE American
under the trading symbol "UUUU," and the Company's common shares
are also listed on the Toronto Stock Exchange under the trading
symbol "EFR." Energy Fuels' website is www.energyfuels.com.
About Ur-Energy: Ur-Energy is a
U.S. uranium mining company with corporate and operations offices
in Denver, Colorado and
Casper, Wyoming. Ur-Energy
operates the Lost Creek in-situ recovery uranium
facility in south-central Wyoming.
Ur-Energy has produced, packaged and shipped more than 2.5 million
pounds from Lost Creek since the commencement of operations.
Applications are under review by various agencies to incorporate
our LC East project area into the Lost Creek permits, and
to construct and operate at our Shirley Basin Project.
Ur-Energy is engaged in uranium mining, recovery and processing
activities in the United
States, including the acquisition, exploration, development
and operation of uranium mineral properties. The primary trading
market for Ur-Energy's common shares is the NYSE American under the
trading symbol "URG;" Ur-Energy's common shares also trade on the
Toronto Stock Exchange under the trading symbol "URE." Ur-Energy's
website is www.ur-energy.com.
Cautionary Note Regarding Forward-Looking
Statements: Certain information contained in this
statement, including any information relating to: the timing for
and outcome of the President's consideration of the report from DOC
on the effects of uranium imports on national security; and any
other statements regarding Energy Fuels' or Ur-Energy's future
expectations, beliefs, goals or prospects; constitute
forward-looking information within the meaning of applicable
securities legislation (collectively, "forward-looking
statements"). All statements in this news release that are not
statements of historical fact (including statements containing the
words "expects," "does not expect," "plans," "anticipates," "does
not anticipate," "believes," "intends," "estimates," "projects,"
"potential," "scheduled," "forecast," "budget" and similar
expressions) should be considered forward-looking statements. All
such forward-looking statements are subject to important risk
factors and uncertainties, many of which are beyond Energy Fuels'
and Ur-Energy's ability to control or predict. A number of
important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating to: the
timing for and outcome of the President's consideration of the
report from DOC on the effects of uranium imports on national
security; and other risk factors as described in Energy Fuels' and
Ur-Energy's most recent annual reports on Form 10-K and quarterly
financial reports. Energy Fuels and Ur-Energy assume no obligation
to update the information in this communication, except as
otherwise required by law. Additional information identifying risks
and uncertainties is contained in Energy Fuels' and Ur-Energy's
filings with the various securities commissions which are available
online at www.sec.gov and www.sedar.com. Forward-looking statements
are provided for the purpose of providing information about the
current expectations, beliefs and plans of the management of Energy
Fuels and Ur-Energy relating to the future. Readers are cautioned
that such statements may not be appropriate for other purposes.
Readers are also cautioned not to place undue reliance on these
forward-looking statements, that speak only as of the date
hereof.
For Further Information, Please Contact:
Karen
Heinold
kheinold@pcgpr.com
202.379.6358
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SOURCE Ur-Energy Inc.; Energy Fuels Inc.