Uranium Resources, Inc. Reports on Plan of Action

Uranium Resources, Inc. (NASDAQ:URRE) reports on its plan of action for advancing its Churchrock project, New Mexico, USA.

URI has 183,000 acres of mineral holdings in New Mexico and 101.4 million pounds of in place mineralized uranium material. There are 33.9 million pounds of in place mineralized uranium material that can be produced under its NRC Source Materials License. The Section 8 portion of the NRC licensed area is underlain by 6.5 million pounds of in place mineralized uranium material.

Don Ewigleben, President and CEO of Uranium Resources, Inc says:

“The significance of this ruling lies in our ability to now take the actions necessary to advance this property toward production. Our Discharge Plan (Underground Injection Control Permit) from the New Mexico Environmental Department (NMED) and our Source Material License from the Nuclear Regulatory Commission (NRC) are both in timely renewal status. We will be meeting with the appropriate state and federal agencies over the next several weeks to discuss next steps.URI’s objective is to be in a position to begin uranium production in New Mexico by the first half of 2013, assuming the renewal processes move forward in a timely manner, a recovery in uranium prices and the availability of financing for the necessary capital expenditures to build the infrastructure. Our project will be a major contributor to addressing the need for domestic uranium production to supply U.S. nuclear power plant needs.”

For complete news release, click here.