Uranium Energy Corp Advances Permitting at Palangana and Goliad ISR Projects
January 11 2010 - 8:30AM
PR Newswire (US)
NYSE Amex Equities Exchange Symbol - UEC AUSTIN, TX, Jan. 11
/PRNewswire-FirstCall/ -- Uranium Energy Corp (NYSE-AMEX: UEC, the
"Company") is pleased to announce that the public comment period
for the Radioactive Material License ("RML") for the Company's
Palangana ISR Uranium Project in Duval County, Texas, has closed
without receiving any comments. The Company anticipates that the
Texas Commission on Environmental Quality ("TCEQ") will approve the
license before the end of this month. When the RML is approved, the
Palangana project will have obtained all the permits needed to
start operations. Harry Anthony, Chief Operating Officer, stated,
"This will mark a major milestone for the Company. We are now in
the position to plan the critical actions for proceeding to
commercial development of Palangana." New Satellite Plan for the
Goliad Project In late December 2009, the Company completed the
acquisition of the South Texas Mining Venture LLC including the
fully licensed Hobson ISR processing facility, located 45 miles
from its Goliad project. Because the Company will no longer need to
construct a full processing facility at Goliad, it has amended and
simplified its permitting details to the TCEQ for Goliad now that
only a lower-cost satellite in-situ recovery facility is
anticipated. The remaining hearing regarding the Company's mine
permits at Goliad, which had earlier been scheduled for March 4,
2010, has now been rescheduled for May 3, 2010, to give TCEQ the
time to review the simplified production plans at Goliad. Mr.
Anthony stated, "The additional time needed by TCEQ to review the
amended applications before the hearing is routine given the
planned changes in production and facilities. The hearing will now
also be more limited, only needing to address the development of
in-situ recovery facilities at Goliad and not a processing
facility. We're very pleased with the permitting progress to date
with both Palangana and Goliad." About Uranium Energy Corp Uranium
Energy Corp (NYSE-AMEX: UEC) is a U.S.-based exploration and
development company with the objective of near-term uranium
production in the U.S. The Company's fully licensed and permitted
Hobson processing facility is central to all of its projects in
South Texas, including the Goliad and Palangana in-situ recovery
uranium projects which are in the final stages of mine permitting
for production. 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. The
Company is well financed to execute on its key programs. Stock
Exchange Information: NYSE-AMEX: UEC Frankfurt Stock Exchange
Symbol: U6Z WKN: AOJDRR 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, labour 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. DATASOURCE: Uranium Energy Corp CONTACT: Contact North
America: Investor Relations, Uranium Energy Corp: Toll Free: (866)
748-1030, Fax: (512) 535-0832, E-mail:
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