Niger transfer completeNiger Uranium” or the “Company”)
Nigerien permits awarded, drilling commences
Board changes to progress project development
At the time of Admission, the Company had agreed to acquire the Nigerien exploration properties of NWT Uranium Inc (“NWT”) and the Nigerien exploration properties of UraMin Inc (“UraMin”). The combined exploration prospects (the “Prospects”) cover a total of 1,673,644 acres (equivalent to 6,773 square kilometres) and are all located in the Tim Mersoi basin in Niger. The Tim Mersoi basin is a recognised uranium province.
The transfer of the Prospects to the Company was subject to the authorisation of the Niger State Minister of Mines. The Directors are pleased to announce that the transfer of all the exploration properties to the Company has now been completed.
Following completion of the permit transfers to the Company and the commencement of drilling, the Board has reviewed its needs going forward and has concluded that in the next stage of the Company’s development, the Company should appoint an African-based chief executive officer. Accordingly, in the short term, Ian Stalker will assume the chief executive responsibilities pending the appointment of a full time African-based chief executive officer. Marek Kreczmer will remain on the Board as a non-executive director.
Contacts:
Niger Uranium Limited
Ian Stalker, Executive Deputy Chairman and
Chief Executive Officer
Tel: + 27 82 404 36 37
Beaumont Cornish Limited
Roland Cornish / Michael Cornish
Tel: + 44 (0) 20 7628 3396
Haywood Securities (UK) Limited
Thomas Beattie
Tel+ 44 (0) 20 7031 8011
Financial Dynamics
Ben Brewerton
Ed Westropp
Tel + (0) 20 7831 3113
ENDS