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Wednesday
Dec072011

Ur-Energy Announces 2011 Drill Program Results for the Lost Creek Property Including the Discovery of Additional Mineralized Horizons

Littleton, Colorado (PR Newswire – December 7, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce the successful completion of the 2011 drilling programs at the Company’s Lost Creek and Lost Creek North Projects.  A total of 105 near vertical wide spaced holes were drilled in Lost Creek North and 50 near vertical holes were drilled in areas of Lost Creek that had seen sparse historic exploration.  A total of twenty-six (26) intercepts contain mineralization meeting or exceeding the ore grade criteria established by the Company (Grade x Thickness (GT) ≥ 0.3 with average grade ≥ 0.020% eU3O8).  Of particular interest is the discovery of ore quality mineralization within the M Horizon in both the Lost Creek and Lost Creek North Projects and within the N Horizon in the Lost Creek North Project.  Before these drilling projects, the M and N horizons were rarely penetrated by historic drilling and were not recognized as having significant potential.  The ore encountered in these horizons is sufficient to warrant additional exploration.  The drilling program has also confirmed that at Lost Creek the mineralized HJ trend continues beyond the previously established main mineral trend.

The intercept data in the table below represent a portion of the ore grade intercepts.  The measurements were derived from downhole gamma readings taken by Century Geophysical Corp during the 2011 drilling campaign using a 9057C probe.  The probe was calibrated at the Department of Energy Casper Airport Pits prior to beginning the drilling season and monthly during the drilling projects.

 

Hole #

Horizon

From (ft)

To (ft)

Length (ft)

% eU3O81

GT

Lost Creek Results

LC957

M

744.5

752.0

7.5

0.052

0.39

LC965

HJ

354.0

369.5

15.5

0.067

1.04

LC966

M

700.0

715.5

15.5

0.055

0.85

LC979

HJ

420.0

425.5

5.5

0.137

0.75

LC979

HJ

429.5

445.5

16.0

0.035

0.56

LC984

M

721.0

738.5

17.5

0.072

1.26

LC985

FG

114.0

126.0

12.0

0.042

0.50

LC988

HJ

369.0

379.0

10.0

0.060

0.60

LC999

HJ

297.0

309.0

12.0

0.035

0.42

LC1003

HJ

311.5

328.0

16.5

0.058

0.96

LC1005

HJ

314.0

331.0

17.0

0.036

0.61

Lost Creek North Results

LCN37

N

972.0

984.5

12.5

0.031

0.39

LCN61

M

1,014.5

1,022.5

8.0

0.038

0.30

LCN74

 KM

693.5

719.0

25.5

0.063

1.60

LCN78

HJ

673.5

681.5

8.0

0.052

0.42

LCN94

HJ

659.0

677.0

18.0

0.034

0.61

LCN99

KM

713.5

722.5

9.0

0.046

0.41

LCN109

HJ

588.0

593.5

5.5

0.084

0.46

LCN112

HJ

630.5

637.0

6.5

0.078

0.51

LCN114

HJ

588.0

597.0

9.0

0.053

0.48

1 - % eU3O8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium.  Numerous comparisons of eU3O8 and chemical assays of Lost Creek rock samples indicate that eU3O8 is a reasonable indicator of the chemical concentration of uranium.

 

John Cash, Vice President of Regulatory Affairs, Exploration and Geology, stated, “We are excited by the positive results from this year’s exploration drilling program in Lost Creek and in Lost Creek North; especially given the wide spaced nature of the drilling.  The discovery of ore grade mineralization within the M and N Horizons is of particular interest and these horizons will be targeted by future drilling in order to add resources to the Property.  The drilling programs also confirmed the presence of several mineralized roll fronts with the potential to add significant pounds to the resource base of the Lost Creek Property.”

The on-going analysis of these drill results will be incorporated into future drill plans and updates of the Lost Creek Property mineral resource estimates.  John Cooper, Project Geologist and a 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 junior uranium company engaged in the identification, acquisition, exploration and development of uranium properties in both the United States and Canada.   The company is currently completing mine planning and permitting activities to bring its Lost Creek Wyoming in situ uranium deposit and planned processing facility into production. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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 IR/PR                       Wayne Heili, President and CEO

303-269-7707                                           307-265-2373

866-981-4588                                           866-981-4588

Click here to contact Rich                          Click here to contact Wayne

 

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 results of further exploration and drill programs; the ability of future drill programs to add resources to the resource base to the Lost Creek Property) 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; 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.

 

Click here for PDF of this News Release

Wednesday
Oct262011

Ur-Energy Reports Third Quarter 2011 Results

Littleton, Colorado (PR Newswire – October 26, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) announces it has filed the Company’s Unaudited Interim Consolidated Financial Statements and Management’s Discussion and Analysis, for the period ended September 30, 2011, with Canadian securities authorities on the Company’s profile at www.sedar.com and with the U.S. Securities and Exchange Commission on the Company’s profile at http://www.sec.gov/edgar.shtml.  These filings may also be accessed on the Company’s website at http://www.ur-energy.com/interim-financial-reports/.

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                    Wayne Heili, President and CEO

303-269-7707                                          307-265-2373

866-981-4588                                           866-981-4588

rich.boberg@ur-energyusa.com                wayne.heili@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 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; 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.

 

Click here for PDF of this News Release

Tuesday
Oct252011

Ur-Energy Enters Strategic Marketing Agreement with NuCore

Littleton, Colorado (PR Newswire – October 25, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has entered into a strategic marketing arrangement with NuCore Energy, LLC (“NuCore”).  Under the agreement, NuCore will provide uranium marketing advisory and professional services and exclusively negotiate uranium sales agreements for the production derived from the Company’s Lost Creek uranium ISR project.

NuCore is a North American company founded by James (Jim) Cornell in early 2009 with the backing of Cadent Energy Partners. NuCore focuses on advising businesses that operate across the commercial nuclear fuels market and services sector.   Mr. Cornell, President and CEO of NuCore, has over 24 years of experience in the nuclear industry and nuclear fuels marketing including his tenure as President and CEO of Nukem Inc.  While at Nukem, Mr. Cornell served as one of the principal negotiators of the historic U.S.-Russian HEU Agreement. 

Under the arrangement, Mr. Cornell, will represent Ur-Energy exclusively in negotiation of uranium off-take purchase agreements for future production and will provide professional advisory services.  This alliance provides Ur-Energy with broad based benefits including expertise in uranium sales and marketing, greater access to the North American and global markets through an individual with strong relationships with utilities and other key groups, and experienced execution of a well planned growth strategy.

Ur- Energy Executive Chairman Mr. Jeff Klenda said, “We are most pleased to announce Mr. Cornell’s new role in the growth strategy of Ur-Energy. Jim is one of the foremost experts in the nuclear fuel marketing field and this strategic relationship will be a key element in advancing Ur-Energy’s sales and marketing strategy.”

NuCore President, Mr. Cornell said, “I have a great deal of respect for Ur-Energy’s management team and am looking forward to working together with them to realize Ur-Energy’s very impressive potential.”

About Ur-Energy

Ur-Energy is a junior uranium company engaged in the identification, acquisition, exploration and development of uranium properties in both the United States and Canada.   The company is currently completing mine planning and permitting activities to bring its Lost Creek Wyoming in situ uranium deposit and planned processing facility into production. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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 IR/PR                     Wayne Heili, President and CEO

303-269-7707                                          307-265-2373

866-981-4588                                          866-981-4588

Click here to email Rich                            Click here to email Wayne

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., realization of broad-based benefits from the new relationship; ability to execute on growth strategy through marketing plan for uranium sales agreements) 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; 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.

 

Click here for PDF of this News Release

Monday
Oct242011

Ur-Energy Announces Receipt of Wyoming State Permit to Mine for the Lost Creek ISR Uranium Project

Littleton, Colorado (PR Newswire – October 24, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that the Wyoming Department of Environmental Quality (“WDEQ”) has issued a Permit to Mine for the Company's Lost Creek in-situ recovery (“ISR”) uranium project located in Sweetwater County.  The State permit authorizes Ur-Energy to construct and operate the Lost Creek ISR uranium mine facilities, including the first mine unit.   

“Receiving the State Permit to Mine is a major step in Ur-Energy’s progression to full mining operations at its Lost Creek deposit.   This mine will create meaningful employment opportunities here in the State of Wyoming” stated Ur-Energy President and CEO Wayne Heili. “Diligent work by both the WDEQ and Ur-Energy personnel ensures that the Lost Creek ISR Project will meet or exceed the environmental standards of the State.  Wyoming’s citizens, along with the shareholders of Ur-Energy, will soon be able to realize the benefits of safe, cost-effective and environmentally friendly in-situ uranium recovery at the Lost Creek Project.”

Along with the State Permit to Mine, the Company has previously received the U.S. Nuclear Regulatory Commission’s Source and Byproduct Materials License, the Environmental Protection Agency’s Aquifer Exemption, a WDEQ Class I Underground Injection Control Permit and local approval of the Development Plan by Sweetwater County.  The Company now only awaits approval of the Plan of Operations by the Bureau of Land Management before construction and operations commence.

About Ur-Energy

Ur-Energy is a junior uranium company engaged in the identification, acquisition, exploration and development of uranium properties in both the United States and Canada.   The company is currently completing mine planning and permitting activities to bring its Lost Creek Wyoming in situ uranium deposit and planned processing facility into production. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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 IR/PR                       Wayne Heili, President and CEO

303-269-7707                                            307-265-2373

866-981-4588                                            866-981-4588

Click here to email Rich                              Click here to email Wayne

 

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., receipt and related timing of the approval of the BLM Plan of Operations; timing for commencement of construction and operations at Lost Creek, the realization of benefits from safe, cost effective and environmentally friendly ISR mining at Lost Creek) 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; 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.

 

Click here for PDF of this News Release

Tuesday
Sep132011

Ur-Energy Announces Inclusion to the S&P/TSX SmallCap Index

Littleton, Colorado (PR Newswire – September 13, 2011) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that Ur-Energy will be added to the S&P/TSX SmallCap Index. Standard & Poor’s Canadian Index Operations announced the Company’s addition on Friday, September 9, 2011 based on their annual review.  Inclusion to the Index will be effective after the close of trading on Friday, September 16, 2011.  

Wayne Heili, Ur-Energy President and CEO, stated, “Inclusion to the S&P/TSX SmallCap Index is another important step towards generating greater awareness of our stock to a broader range of institutional investors and increasing our visibility and profile on the TSX.”

The S&P/TSX SmallCap Index serves the dual purpose of a benchmark as well as an investable index.  The Index offers the broad representation of benchmark indices while maintaining the liquidity characteristics of narrower indices.                                                                                                              

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                            Wayne Heili, President and CEO

720-981-4588, ext. 238                                    307-265-2373

866-981-4588                                                   866-981-4588

Click here to email Rich                                   Click here to email Wayne

 

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., effects of the S&P/TSX SmallCap Index inclusion, if any) 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; 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.

 

Click here for PDF of this News Release