RE: Expected news release?..DEC 13thIs this good enough for you...
Energy Fuels Inc.
December 13, 2006 - 06:36:15 PM
Energy Fuels Enters Into Mining Lease Agreement With Little Maverick Mining
Company for the Whirlwind Mine
TORONTO, ONTARIO--(CCNMatthews - Dec. 13, 2006) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Energy Fuels Inc. (TSX VENTURE:EFR)(the "Company") is pleased to announce the
completion of its due diligence and the exercise of its option under the
Option Agreement to Lease Mining Claims dated September 1, 2006 (the 'Option
Agreement'). The signing of the Option Agreement on the Whirlwind Mine was
previously announced on September 7, 2006. The Company has entered into the
Mining Lease Agreement dated December 11, 2006 (the 'Mining Lease') as
contemplated by the Option Agreement between Energy Fuels Resources
Corporation and Little Maverick Mining Company.
Under the terms of the Mining Lease, the Company has agreed to pay the amount
of US$600,000 to Maverick as an advance royalty. The Company has paid a total
of US$300,000 in cash and US$300,000 in the capital stock of Energy Fuels Inc.
upon approval of the Toronto Venture Exchange. In addition, the Company will
pay Maverick a production royalty according to an agreed production royalty
schedule. The Company has agreed to pay Maverick the sum of US$300,000 upon
receipt of clear title on certain mining equipment. The term of the Mining
Lease is twenty (20) years and for so long thereafter as ore is mined from the
Mining Claims as defined therein.
Energy Fuels Inc. is a Toronto-based mineral exploration and development
company with uranium and vanadium projects located in the States of Colorado,
Utah and Arizona, through its wholly-owned Colorado subsidiary Energy Fuels
Resources Corporation, and with gold, base metals and platinum group
properties located in Newfoundland and Quebec.
As of the date hereof the Company has 27,591,321 common shares outstanding.
This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934,
as amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. All statements, other than statements of
historical fact, included herein are forward-looking statements and forward
looking information that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia, Alberta and
Ontario Securities Commissions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor contact: Energy Fuels Inc. George E.L. Glasier (970) 864-2125 or
Toll Free: 1-888-864-2125 Website: www.energyfuels.com
The TSX Venture has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.