Ur-Energy: Major Resource Expansion at Lost Creek

Ur-Energy Inc. (TSX:URE,NYSEMKT:URG) has increased its mineral resource estimate for the Lost Creek Property in Wyoming.

According to the new estimate, Lost Creek has expanded as follows:

• Measured resources increased by 16% (+0.65 million pounds) from 4.20 to 4.85 million pounds U₃O₈;
• Indicated resources decreased by 8% (-0.35 million pounds) from 4.15 to 3.80 million pounds U₃O₈ due to re-categorizing of  resources within Mine Unit 1 and the planned second mine unit; and
• Inferred resources increased by 65% (+1.87 million pounds) from 2.87 to 4.74 million pounds U₃O₈

Ur-Energy’s VP of Regulatory Affairs, Exploration and Geology stated:

We are pleased to be able to continue demonstrating the expandability of our flagship production property resource.  The close spaced drilling in Mine Unit 1 has resulted in a significant increase in the area’s resource base.  Those resources are now developed and available for extraction by in-situ recovery methods.  Furthermore, the wide spaced drilling at LC East has greatly increased the inferred resources and improved our understanding of the geologic systems on the Lost Creek Property.  This new knowledge will be applied as we advance the Project and Property with additional drilling in the future.

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