Historic Uranium Resource Staked In The Shirley Basin

VANCOUVER – Nuclear Fuels Inc. has expanded its Wyoming uranium holdings with the staking of the Bobcat Uranium Project located in the Shirley Basin. The Bobcat Uranium Project hosts a historic resource of 474,309 lbs. of uranium. The Bobcat Uranium Project includes over 1,600 acres of mineral rights covering a mineralized roll front and is open to expansion. In the early 1980’s the main Shirley Basin uranium district was credited with 84 million pounds U (uranium) in reserves and past production which ceased due to declining uranium price. The Shirley Basin is a current focus of In-Situ Recovery (ISR) exploration by several uranium exploration companies. The Shirley Basin was the site of the first commercial ISR project in the United States. The Bobcat project adds to Nuclear Fuels’ project base and adds optionality for the Company in building compliant resources going forward.  

Michael Collins, Chief Executive Officer, said, “Nuclear Fuels views Wyoming as a key region for successful uranium exploration due to the prolific historic mining and known resources. The Bobcat Uranium Project, identified through proprietary data, helps us achieve our goal to build resources in the State of Wyoming. I also note that drilling at our Kaycee Uranium Project is well underway and progressing ahead of schedule.”