Uranerz Receives WDEQ Permit to Mine for Nichols RJan 04, 2011 09:02 ET
Uranerz Receives WDEQ Permit to Mine for Nichols Ranch Uranium Project
CASPER, WYOMING--(Marketwire - Jan. 4, 2011) -Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX:URZ)(NYSEAmex:URZ)(FRANKFURT:U9E) is pleased to announce that the State ofWyoming, Department of Environmental Quality ("WDEQ"), has issued thecommercial Permit to Mine (Permit Number 778) for the Company's NicholsRanch In-Situ Recovery ("ISR") Uranium Project located in Johnson andCampbell counties in the Central Powder River Basin of Wyoming,U.S.A. The Nichols Ranch project contains an estimated 5.5 millionpounds of uranium resources and will serve as a platform to develop theCompany's other Powder River Basin projects through the permit amendmentprovisions of the regulatory process.
"This is a very significant event for our company, and it is one ofthe first new commercial uranium Permits to Mine issued by the WDEQ inalmost 20 years," stated Uranerz President and CEO Glenn Catchpole. "Itgives Uranerz the State's approval to construct and operate an ISRuranium mine and demonstrates, through no negative comments beingsubmitted to the WDEQ during the public comment period, that thecitizens of Wyoming support uranium mining as long as operations followthe State's comprehensive environmental laws and regulations."
On the federal level, Uranerz will need the final Materials Licensefrom the United States Nuclear Regulatory Commission ("NRC") beforeconstruction can commence. The Company received the draft NRC MaterialsLicense in late November, 2010.
About Uranerz
Uranerz Energy Corporation is a U.S.-based uranium company focused onachieving near-term commercial in-situ recovery ("ISR") uraniumproduction in Wyoming, the largest producer of uranium of any U.S.state. The Uranerz management team has specialized expertise in the ISRuranium mining method, and has a record of licensing, constructing andoperating commercial ISR uranium projects.
Uranerz Energy Corporation is listed on the NYSE Amex and the TorontoStock Exchange under the symbol "URZ," and listed on the FrankfurtStock Exchange under the symbol "U9E."
Further Information
For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at info@uranerz.com. Alternatively, please refer to the Company's website at www.uranerz.com, review the Company's filings with the SEC at www.sec.gov or visit the Company's profile on SEDAR at www.sedar.com.
Forward-looking Statements
This press release may contain or refer to "forward-lookinginformation" and "forward-looking statements" within the meaning ofapplicable United States and Canadian securities laws, which mayinclude, but are not limited to, statements with respect to itsexpectation that it will receive a final Materials License from the NRC,and statements setting out plans or projections as to futureproduction, planned development, the regulatory approval of plannedoperations, and all statements containing estimates andexpectations. Such forward-looking statements reflect the Company'scurrent views with respect to future events and are subject to certainrisks, uncertainties and assumptions, including the risks anduncertainties outlined in the Company's most recent financial statementsand reports and registration statement filed with the SEC (available atwww.sec.gov) and with Canadian securities regulators (available at www.sedar.com).Should one or more of these risks or uncertainties materialize, orshould underlying assumptions prove incorrect, actual results may varymaterially from those anticipated, believed, estimated or expected. Wedo not undertake to update forward-looking information orforward-looking statements, except as required by law.
For more information, please contact
Uranerz Energy Corporation
Derek Iwanaka
Manager of Investor Relations
1-800-689-1659
info@uranerz.comwww.uranerz.com