Azarga Uranium Provides Update on Permitting Process

Azarga Uranium Corp. (TSX:AZZ) (“Azarga Uranium” or the “Company”) is pleased to announce that the Atomic Safety and Licensing Board (the “ASLB”) has issued an order granting the United States Nuclear Regulatory Commission (the “NRC”) Staff’s motion to set a schedule for summary disposition of the final contention for the Company’s Dewey Burdock In-Situ Recovery Uranium Project (the “Dewey Burdock Project”) NRC License. Summary disposition motions in favor of resolving the final contention, which pertains to the identification and protection of historic and cultural resources for the purposes of compliance with the National Environmental Policy Act (“NEPA”), must be filed by 17 August 2018. The Company anticipates that the NRC Staff will file a summary disposition motion in favor of resolving the final remaining contention in accordance with this timeline. The Company plans to fully support the NRC Staff in resolving the only remaining contention and anticipates filing its response supporting the NRC Staff motion by 31 August 2018, in accordance with the timeline mandated by the ASLB.

Blake Steele, President and CEO, stated: “the ASLB decision provides the NRC Staff and the Company with an opportunity to resolve the only remaining contention for the Company’s Dewey Burdock NRC License in an expedited manner. The Company plans to fully support the NRC Staff in resolving this contention and is pleased with the timeline established by the ASLB.”

The United States Court of Appeals for the District of Columbia (the “DC Circuit Court”) has also issued an order with respect to the appeal filed by the Oglala Sioux Tribe on certain items pertaining to the Company’s NRC License. The DC Circuit Court order dismissed the majority of the rulings challenged by the Oglala Sioux Tribe, due to lack of jurisdiction; however, the DC Circuit Court remanded the decision to keep the Company’s NRC License in effect to the NRC Commission due to the unresolved NEPA contention.

Mr. Steele further stated: “the Company’s NRC License for the Dewey Burdock Project continues to remain in good standing. We are pleased that the DC Circuit Court decision dismissed the majority of the challenges and are seeking direction from the NRC Commission as to what action, if any, they will take as a result of the DC Circuit Court decision. That said, the matter raised by the DC Circuit Court decision will remedy itself on resolution of the outstanding NEPA contention. Thus, the Company remains focused on working with the NRC Staff and other stakeholders to ensure that the only remaining contention, which pertains to NEPA, is resolved in a timely manner. As previously stated, the Company is pleased with the ASLB decision that sets an August 2018 deadline for filing dispositive and supportive motions aimed at resolving the final contention.”

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects, deposits 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.

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 Company’s anticipation that the NRC Staff will file a summary disposition motion in favor of resolving the final remaining contention by 17 August 2018, the Company’s plan to fully support the NRC Staff in resolving the only remaining contention and its anticipation that it will file a response supporting the NRC Staff’s motion by 31 August 2018, the ASLB decision provides the NRC Staff and the Company an opportunity to resolve the only remaining contention for the Company’s Dewey Burdock NRC License in an expedited manner and the Company’s uncertainty as to what action, if any, the NRC Commission will take as a result of the DC Circuit Court decision. 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 our actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: (1) 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, (2) the risk that the NRC Staff do not file a summary disposition motion in favor of resolving the final remaining contention by 17 August 2018 or at all, (3) the risk that the Company does not fully support the NRC Staff in resolving the only remaining contention and the Company does not file a response supporting the NRC Staff’s motion by 31 August 2018 or at all, (4) the risk that the ASLB decision may not provide the NRC Staff and the Company an opportunity to resolve the only remaining contention for the Company’s Dewey Burdock NRC License in an expedited manner, (5) the risk that the NRC Commission takes an action as a result of the DC Circuit Court decision that is not beneficial to the Company, including the potential action of suspending or vacating the Dewey Burdock NRC License, (6) the risk that such statements may prove to be inaccurate and (7) other factors beyond Azarga Uranium’s control. 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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Source: www.fscwire.com

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