Uranerz announces first quarter financial results 2012
Casper (Wyoming), 9. May 2012. Uranerz Energy Corporation (NYSE Amex and TSX: URZ; Frankfurt: U9E) ("Uranerz" or the "Company") released its financial results for the quarter, which is on 31. March 2012 came to an end. These were added filed with the Securities and Exchange Commission ("SEC") in Canada and Canadian securities regulators on SEDAR.
Uranerz is now building its first in situ recovery ("ISR") uranium mine - the Nichols Ranch ISR uranium project in the Powder River Basin area of Wyoming, USA. The construction of the central processing plant and the installation of environmental monitoring and production wells for ISR mining are on schedule and should be completed by the end of 2012. At the same time, the company is seeking the final approvals required to start uranium production, including sanitation permits.
Highlights of the quarterly financial results:
The financial information presented is in line with generally accepted accounting principles in the United States. Uranerz's quarterly report in the form of 10-Q for the fiscal quarter, which was issued on 31. March 2012 closed, including the Management Discussion and Analysis, is available on the websites of SEC, SEDAR and Uranerz.
About uranium ore
Uranerz is a US-based mining company focused on short-term commercial in situ recovery ("ISR") uranium production and is currently building its first ISR mine in Wyoming. ISR is a mining process that uses a "leaching solution" to mine uranium from sandstone uranium deposits. This is the accepted extraction technology in the Powder River Basin area of Wyoming (ISR made 2010 41% of world uranium production). The Company controls a large strategic land holding in the Pumpkin Buttes uranium mining area in the central Powder River Basin (Wyoming). The Uranerz management team has expertise in the ISR uranium mining method and has many years of experience in licensing, building and operating commercial ISR uranium projects. The company signed long-term uranium purchase agreements with Exelon and another major nuclear power company in the country for part of the planned production.
Further information
For more information, please contact Investor Relations Manager Derek Iwanaka at 1-800-689-1659 or email us at [email protected]. Additional information is also available on the Company's website at www.uranerz.com, in the Company's reports filed with the Securities and Exchange Commission and on www.sec.gov, or under the Company's profile on SEDAR at www.sedar. com.
Forward-looking statements
This press release may contain or refer to "forward-looking information" and "forward-looking statements" in accordance with applicable US and Canadian securities laws. These may include, but are not limited to, statements that relate to forecasts regarding the date of completion of the Central Processing Facility, or other statements regarding projections, estimates or the description of future plans and expectations. Such forward - looking statements reflect our current views about future events and are subject to certain risks, uncertainties and assumptions, including those risks and uncertainties, which are reflected in most of our recent statements and reports on financing and in our financial statements
SEC's Registration Statement (available at www.sec.gov) and the Canadian Securities Authorities (available at www.sedar.com). Should these risks or uncertainties materialize or should assumptions underlying them prove to be incorrect, actual results could differ materially from those that have been planned, accepted, estimated or expected. We are not required to update any forward-looking statements. unless this is required by law.
This press release is also available on our website:
http://www.uranerz.com/s/NewsReleases.asp?ReportID=523743
Administrative & Investor Relations Office
Suite 1410-800 West Pender Street
Vancouver, BC Canada V6C 2V6
Phone: 604.689.1659
Fax: +604.689.1722
E-mail: [email protected]
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