Positive Preliminary Assessment on Nichols Ranch Uranium ISR Project

CASPER, WY - Uranerz Energy Corporation reported the receipt of a positive Preliminary Assessment on the economics and technical viability of the Company's Nichols Ranch Uranium In-Situ Recovery ("ISR") Project in the Powder River Basin, Wyoming, USA (the "Project") and the filing of a related NI 43-101 technical report. The mine plan for the Project includes a central processing facility at the Company's Nichols Ranch property and a satellite ion exchange facility at its Hank property. The central processing facility is planned for a licensed capacity of 2 million pounds per year of uranium (as U3O8)and will process uranium-bearing wellfield solutions from Nichols Ranch, as well as uranium-loaded resin transported from the Hank satellite facility, plus uranium-loaded resin from any additional satellite deposits that may be developed on the Company's other Powder River Basin properties. This centralized design enhances the economics of the Company's potential additional satellite projects by maximizing production capacity while minimizing further capital expenditures on processing facilities. The technical report concludes that the Project is at a stage where it can be advanced to engineering design and development.
"The results of the Preliminary Assessment demonstrate the economic and technical viability of our Nichols Ranch Uranium ISR Project," stated Uranerz President and Chief Executive Officer, Glenn Catchpole. "The completion of the Nichols Ranch central processing facility will solidify the Company's strategic position in the global uranium market and should improve the project economics of our other properties in the Powder River Basin."
The company's address is P.O. Box 50850, Casper, WY 82605, (307) 265-8900, fax: (307) 265-8904, email: [email protected].