Uranium Resources, Inc. Receives Exploration Permit

Source: www.gulfoilandgas.com 5/12/2011, Location: North America

Uranium Resources, Inc. ("URI") announced that the Surface Mining and Reclamation Division of the Railroad Commission of Texas granted URI a permit to conduct exploratory drilling on the 54,847 acres in Kenedy County, Texas, known as the ‘Los Finados Project.'

Don Ewigleben, President and CEO of URI, commented, "Having completed our joint venture agreement with Cameco and obtaining this permit; we are ready to move forward with our drilling program. We are finalizing our exploration objectives with our partner and expect to commence drilling sometime this summer."

URI announced yesterday that it had entered into an exploration agreement with Cameco Texas, Inc., subsidiary of Power Resources, Inc., which is a subsidiary of Cameco for a three-phase, three-year exploration program.URI will drill in accordance with the requirements of the permit, which is effective for one year.


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