Azarga Uranium Provides Update on Permitting Process

- November 1st, 2018

Azarga Uranium Corp.  (TSX:AZZ, OTCQB:AZZUF, FRA:P8AA) (“Azarga Uranium” or the “Company”) is pleased to announce that the Atomic Safety and Licensing Board (the “ASLB”) has denied the Oglala Sioux Tribe’s motion for summary disposition and its request to stay or revoke the Company’s Dewey Burdock In-Situ Recovery Uranium Project (the “Dewey Burdock Project”) Nuclear Regulatory Commission (“NRC”) License.

Azarga Uranium Corp.  (TSX:AZZ, OTCQB:AZZUF, FRA:P8AA) (“Azarga Uranium” or the “Company”) is pleased to announce that the Atomic Safety and Licensing Board (the “ASLB”) has denied the Oglala Sioux Tribe’s motion for summary disposition and its request to stay or revoke the Company’s Dewey Burdock In-Situ Recovery Uranium Project (the “Dewey Burdock Project”) Nuclear Regulatory Commission (“NRC”) License. The Company’s NRC License for the Dewey Burdock Project remains in good standing.

The NRC Staff’s summary disposition motion to resolve the final remaining contention on the Dewey Burdock NRC License in favour of the NRC Staff and the Company, which pertains to the identification and protection of historic and cultural resources for the purposes of compliance with the National Environmental Policy Act, has also been denied by the ASLB. However, the ASLB has established procedures for resolution of the final remaining contention. The ASLB has provided the NRC Staff with two options to expeditiously conclude litigation of the final remaining contention and has requested a response from the NRC Staff on the preferred option by 30 November 2018.

Blake Steele, Azarga Uranium President and CEO, stated: “The Company is pleased that the ASLB has provided NRC Staff with two options to expeditiously resolve the final NRC License contention on the Dewey Burdock Project and that the NRC License remains in good standing. The Company will continue to work with NRC Staff and other stakeholders to the greatest extent possible to resolve the final remaining contention in a timely manner.”

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado) and the Kyrgyz Republic, with a primary focus of developing in-situ recovery uranium projects in the USA. The Dewey Burdock in-situ recovery uranium project in South Dakota (the “Dewey Burdock Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission License and draft Class III and Class V Underground Injection Control (“UIC”) permits from the Environmental Protection Agency (“EPA”) and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.

For more information please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

For further information, please contact:

Blake Steele, President & CEO
+1 303 790-7528

E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to Azarga Uranium’s continued efforts to obtain all major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the ASLB has provided the NRC Staff with two options to expeditiously conclude litigation of the final remaining contention and the Company will continue to work with NRC Staff and other stakeholders to the greatest extent possible to resolve the final remaining contention in a timely manner. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that Azarga Uranium does not obtain all major regulatory permit approvals necessary for construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the risk that the ASLB options provided to NRC Staff do not expeditiously conclude litigation of the final remaining contention, or at all, the risk that the Company does not continue to work with NRC Staff and other stakeholders to the greatest extent possible to resolve the final remaining contention in a timely manner and the risk that the final remaining contention is not resolved in favour of the NRC Staff or the Company. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the most recent MD&A filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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