Azarga Comments on President Trump’s New Working Group Focused on Reviving And Expanding U.S. Nuclear Fuel ProductionJuly 15, 2019 8:00 am
AZARGA URANIUM CORP. (TSX: AZZ, OTCQB: AZZUF, FRA: P8AA) (“Azarga Uranium” or the “Company”) understands that President Trump has established the United States Nuclear Fuel Working Group (the “Working Group”) to develop recommendations for reviving and expanding domestic nuclear fuel production.
Further to the Company’s press release dated 17 April 2019, on 12 July 2019, President Trump announced that the United States Department of Commerce determined that uranium imports are a threat to United States national security. President Trump has established the Working Group to not only address this concern, but also to ensure a complete review and reinvigoration of the United States nuclear fuel supply chain, consistent with the United States national security and nonproliferation goals. The Working Group will submit its findings and make its recommendations to the President within 90 days of 12 July 2019.
In his memorandum, President Trump stated, “I agree with the Secretary [of Commerce] that the United States uranium industry faces significant challenges in producing uranium domestically and that this is an issue of national security.”
Blake Steele, President and CEO stated, “We appreciate the administration’s recognition of the importance of the United States uranium sector and look forward to the recommendations of the Working Group. While Azarga Uranium welcomes such attention from the White House, we believe that our initial development priority, the high-grade Dewey Burdock Project, is economically robust and internationally competitive before consideration of any potential benefits that may arise from United States government actions. As such, we continue to progress Dewey Burdock towards construction in the context of a global uranium market strengthened by supplier discipline and increasing demand.”
About Azarga Uranium Corp.
Azarga Uranium is an integrated uranium exploration and development company that controls eleven 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.
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For further information, please contact:
Blake Steele, President and CEO
+1 303 790-7528
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 the Company believing that its initial development priority, the high-grade Dewey Burdock Project, is economically robust and internationally competitive before consideration of any potential benefits that may arise from United States government actions and 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. 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 no actions are taken by the United States government and no benefits to Azarga Uranium arise, the risk that global uranium markets do not improve, 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 such statements may prove to be inaccurate and other factors beyond the Company’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 AIF filed with Canadian security regulators.
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