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Uranium Resources (NASDAQ:URRE) has announced that it has closed a previously announced transaction to acquire placer mining claims in Utah comprising of the Sal Rica lithium brine project from Mesa Exploration (TSXV:MSA).

As quoted in the press release:

 As previously announced, pursuant to the terms of the agreement between URI and Mesa Exploration, URI acquired a 100 percent interest in the Sal Rica project, subject to a 2 percent net smelter return royalty (NSR), for the following consideration:

  • $50,000 cash paid to Mesa on October 19, 2016;
  • 100,000 URI restricted shares issued on October 19, 2016, with a registration statement to be filed with the SEC by November 16, 2016;
  • An additional 100,000 restricted shares to be issued on October 19, 2017, with a registration statement to be filed with the SEC by November 16, 2017.

Christopher M. Jones, President and Chief Executive Officer of URI, said “Continuing our expansion into the lithium brine exploration business strengthens our portfolio of high-value projects. Diversifying our mineral project pipeline, while maintaining our uranium business portfolio in readiness for the predicted price rise, allows investors increased opportunities to benefit from clean energy development. We remain optimistic about this new chapter for URI.”

About the Sal Rica Project:

The Sal Rica project is comprised of approximately 9,800 acres (3,960 hectares) of placer mining claims covering a prospective target for lithium-enriched brines in the Pilot Valley region of northwestern Utah. The target area is situated within a region of known brine-hosted lithium mineralization and is approximately 25 miles (40 kilometers) north of the town of Wendover, Utah in Box Elder County.

Click here to read the full press release.

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Uranium Resources Completes Acquisition of Utah Lithium Brine Project

Uranium Resources (NASDAQ:URRE) has announced that it has closed a previously announced transaction to acquire placer mining claims in Utah comprising of the Sal Rica lithium brine project from Mesa Exploration (TSXV:MSA).

As quoted in the press release:
 As previously announced, pursuant to the terms of the agreement between URI and Mesa

Mesa Exploration Files Two Amended Technical Reports on SEDAR

Mesa Exploration Corp. (TSXV:MSA) filed two amended technical reports on SEDAR. The technical reports entitled “Geology and Mineral Resources, Green Energy Project, Grand County, Utah, USA” and “Geology and Mineral Resources, Utah Potash Project, White Cloud, Salt Wash and Whipsaw Areas, Grand County, Utah, USA” were combined into one current

Mesa Exploration Corp. Provides Corporate Update

Mesa Exploration Corp. (TSXV:MSA) provided an update on progress at the Bounty Potash Project, the Oatman Gold Project, and the Belmont Silver Project. Highlights include: moving forward on the permitting process for the Bounty Potash Project, exploration plans for the discovery of a high grade silver deposit on the Belmont

United States Still Favors Nuclear Power

According to the results of Gallup’s annual Environment survey, conducted earlier this month, the majority of Americans continue to favor nuclear energy as a source of electricity for the United States. Since the inception of the survey, the range of support for the nuclear industry had ranged from a low

Mesa Exploration Corp.(TSXV:MSA) announced recent drilling of six holes at the Moonshine Springs project has confirmed Uranium mineralization. The current drill program is testing extensions of previously discovered targets at the property.

As quoted in the press release:

M3 through M7 were step out holes approximately 100 feet in distance from previously announced holes M1 and M2 (7.5 feet of 0.21%, 4 feet of 0.47% U3O8, respectively). Wildcat hole M8 is located a distance of 1,200 feet south from the M1-M7 holes and partially tested a large radon soil anomaly. The drilling has defined a strongly mineralized north-south sandstone channel of the Triassic Chinle Formation. Based upon these encouraging results follow up drilling is planned to be done later in 2012.

Click here to read the Mesa Exploration Corp. (TSXV:MSA) press releaseSee this press release on Marketwire
Click here to see the Mesa Exploration Corp. (TSXV:MSA) profile

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