Uranium Energy's recent announcement that an independent resource has estimated 17 million pounds of U308, with an inferred resource of 12 million pounds of U308, at the company's Anderson Project in central Arizona, represents another confirmation of UEC's ability to target sites with significant productive potential. UEC, a U.S-based uranium exploration, development, and production company, has focused on identifying and controlling sites with a history of exploration or production that current markets are giving new life. Their efforts have been helped by possessing the rights to an unmatched nationwide database of uranium exploration and mining activity. Using this extensive knowledge base, the company has acquired and is advancing exploration properties of merit throughout the southwestern U.S.
In the case of the Anderson Project, the independent resource estimate was produced by Bruce Davis, of BD Resource Consulting, Inc., and Robert Sim, of Sim Geological, Inc., both Qualified Persons within the meaning of CSA National Instrument 43-101 ("NI 43-101"). The estimate was based on a total of 202,707 meters of drilling from 1,464 holes, including drilling completed by Minerals Exploration Company ("MinEx") (1,054 holes), Urangesellschaft U.S.A. Inc. ("UG") (385 holes) and 25 holes drilled by Concentric Energy Corp. ("Concentric") as of April 15, 2012, the effective date for this estimate. A point of interest is that the project, covering 9,852 acres, is not far from what is currently the biggest nuclear power facility in the country, Arizona's Palo Verde Nuclear Generating Station.
UEC President and CEO, Amir Adnani, commented on the report: "The Anderson Project strengthens the company's pipeline of projects in development because of its large, defined resource estimate. Our company is the leading uranium player in Arizona with four quality projects, and Anderson is our flagship project there. Arizona is business and energy-friendly and operates three of the largest nuclear power plants in the United States, all of which have recently received their 20-year license extensions. We are starting the permitting process at Anderson now with the collection of data for environmental baseline studies."
For more information, see the company website at www.UraniumEnergy.com
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