Uranium Resources Appoints Christopher M. Jones as President and CEO
Uranium Resources, Inc. (NASDAQ: URRE) (URI), today announced that its
Board of Directors has appointed Christopher M. Jones, P.E., as
President and CEO effective April 1, 2013.
Paul K. Willmott, Chairman of the Board of URI, stated, “Chris has a
solid history of success leading various mining and production
operations, as well as exploration and development projects. We believe
his extensive experience and leadership skills will be well applied in
our efforts to bring Churchrock Section 8 to production, position our
South Texas operations for a return to production and prudently manage
our capital while he moves URI forward.”
Mr. Jones has more than 30 years experience in the mining industry and
was most recently President and CEO of Wildcat Silver Corporation, where
he and his team effectively doubled the size of the resource twice using
older, proven metallurgical technologies. Prior to that, he was the
Chief Operating Officer and the Mining General Manger at Albian Sands
Energy. Mr. Jones also held management positions at RAG Coal West Inc.,
Phelps Dodge Sierrita Corp. and Cyprus Amax Coal Company. He is a member
of the American Institute of Mining, Metallurgical, and Petroleum
Engineers and is a Professional Engineer registered in Utah and Alberta.
Mr. Jones received a Bachelor of Science in Mining Engineering at the
South Dakota School of Mines and an MBA from Colorado State University.
Terence J. Cryan, Interim President and CEO, noted, “We were very
deliberate in our search process to find a candidate with the experience
and know-how to streamline and focus our efforts in order to meet
significant milestones in 2013. These include reducing our cash burn
rate, resolving the access issues at Churchrock Section 8, addressing
the royalty issue on the same property, negotiating an improved supply
contract for our Texas production, readying our Kingsville Dome
processing facility for production by completing the pond project, and
supporting our exploration joint venture with Cameco. We were fortunate
to find Chris to fill this role.”
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since
its incorporation in 1977, URI has produced over 8 million pounds of
uranium by in-situ recovery (ISR) methods in the state of Texas. URI has
over 206,600 acres of uranium mineral holdings and 152.9 million pounds
of in-place mineralized uranium material in New Mexico and an NRC
license to produce up to 1 million pounds of uranium per year. URI has
an additional 1.3 million pounds of in-place mineralized uranium
material in Texas and South Dakota. The Company acquired these
properties over the past 20 years along with an extensive information
database of historic drill hole logs, assay certificates, maps and
technical reports.
Uranium Resources routinely posts news and other information about the
Company on its website at www.uraniumresources.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,” “estimates,” “projects,”
“anticipates,” “believes,” “could,” and other similar words. All
statements addressing operating performance, events, or developments
that the Company expects or anticipates will occur in the future,
including but not limited to statements relating to the Company’s
estimated mineralized uranium material, development of the Company’s
asset base, including the Company’s Churchrock Section 8 project,
resolution of the Churchrock Section 8 access and royalty issues,
commencement of production at the Company’s properties, reduction of the
Company’s burn rate, the outcome of negotiations relating to the
Company’s supply contract for its Texas production, and the strategy of
the Company are forward-looking statements. Because they are
forward-looking, they should be evaluated in light of important risk
factors and uncertainties. These risk factors and uncertainties include,
but are not limited to, the spot price and long-term contract price of
uranium, the outcome of negotiations with the Navajo Nation, the
Company’s ability to reach agreements with current royalty holders,
weather conditions, operating conditions at the Company’s mining
projects, government and tribal regulation of the mining industry and
the nuclear power industry, world-wide uranium supply and demand,
availability of capital, timely receipt of mining and other permits from
regulatory agents and other factors which are more fully described in
the Company’s documents filed with the Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should any of the Company’s underlying assumptions prove
incorrect, actual results may vary materially from those currently
anticipated. In addition, undue reliance should not be placed on the
Company’s forward-looking statements. Except as required by law, the
Company disclaims any obligation to update or publicly announce any
revisions to any of the forward-looking statements contained in this
news release.
