NYSE MKT Symbol – UEC
CORPUS CHRISTI, TX,
April 5, 2017 /CNW/ - Uranium
Energy Corp (NYSE MKT: UEC, the "Company" or "UEC") is pleased to
announce that the Environmental Protection Agency has approved the
5,384-acre aquifer exemption request for the Company's Burke Hollow
Project in South Texas.
Burke Hollow is the third project to be developed as part of
the Company's hub-and-spoke strategy that is designed for low-cost
in-situ recovery ("ISR") production to be processed at the nearby
Hobson plant.
The approval comes shortly after the project's 11,000-acre Mine
Area Permit was approved in December
2016 by the Texas
Commission on Environmental Quality ("TCEQ"). Two additional
disposal well permits were also issued in July 2015 to make up three of the four major
permits required for the project. The last major approval is
the Radioactive Material License which remains under technical
review with the TCEQ.
The Company's 2017 drilling campaign at Burke Hollow commenced
on April 3, earlier this week, with
two contracted drill rigs and plans to drill up to 100 delineation
and exploration holes. The primary objective of this campaign
is to complete the exploration and delineation drilling phase of
two closely-related Goliad Lower B trends which will constitute
Burke Hollow Production Area 1. The two Lower B trends have been
proven to extend over a distance of 1.7 miles. The
northwestern side of the orebody remains open-ended and only
lightly explored, with good potential for extension for up to an
additional 3,000 feet.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. The Company's fully-licensed
Hobson processing facility is
central to all of its projects in South
Texas, including the Palangana ISR mine, the permitted
Goliad ISR project and the development-stage Burke Hollow ISR
project. Additionally, the Company controls a pipeline of
advanced-stage projects in Arizona, Colorado and Paraguay. The Company's operations are
managed by professionals with a recognized profile for excellence
in their industry, a profile based on many decades of hands-on
experience in the key facets of uranium exploration, development
and mining.
Stock Exchange Information:
NYSE MKT: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian laws.
These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Any other statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans, "estimates" or
"intends", or stating that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and should be
viewed as "forward-looking statements". Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors
include, among others, the actual results of exploration
activities, variations in the underlying assumptions associated
with the estimation or realization of mineral resources, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares,
accidents, labor disputes and other risks of the mining industry
including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news
release.
Certain matters discussed in this news release and oral
statements made from time to time by representatives of the Company
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Federal
securities laws. Although the Company believes that the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that its
expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause
actual results to differ materially from those projected. Many of
these factors are beyond the Company's ability to control or
predict. Important factors that may cause actual results to differ
materially and that could impact the Company and the statements
contained in this news release can be found in the Company's
filings with the Securities and Exchange Commission. For
forward-looking statements in this news release, the Company claims
the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy
securities.
SOURCE Uranium Energy Corp