Azarga Uranium Completes NRC License Conditions for Dewey Burdock

GREENWOOD VILLAGE, COLORADO–(Marketwired – Dec. 7, 2016) – AZARGA URANIUM CORP.’S (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURF)(“Azarga Uranium” or the “Company”) wholly owned subsidiary, Powertech (USA) Inc., has received approval from the Nuclear Regulatory Commission (the “NRC”) for the first amendment to the NRC Source and Byproduct Materials License (the “Amendment”) for the Dewey Burdock Uranium Project (the “Project”). The Amendment completes certain NRC license conditions for the Project, including the finalization of the financial assurance amount required for construction of the Project and completion of other initial pre-operational NRC license conditions. The Amendment also completes one of the necessary steps for resuming the South Dakota state permitting process.
The Company remains in compliance with the NRC license conditions and anticipates receiving a decision from the NRC Commission in the near-term with respect to the two outstanding contentions pertaining to the identification and protection of historic and cultural resources. Prior to commencing construction and operations at the Project, the Company requires additional regulatory approvals, including approvals from two other major agencies, the Environmental Protection Agency (the “EPA”) and the South Dakota Department of Environment and Natural Resources. The Company currently anticipates receiving the draft Class III and Class V underground injection control permits from the EPA in the near-term.
“We are pleased to see continued steps forward in the permitting process for the Dewey Burdock Uranium Project. Although the balance of regulatory approvals required are not subject to prescribed time frames, the Company remains actively engaged with all parties working on advancing the development of the Dewey Burdock Uranium Project,” said Blake Steele, President of Azarga Uranium.
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