VANCOUVER, BC / ACCESSWIRE / April 17, 2019 / AZARGA URANIUM CORP. (TSX: AZZ, OTCQB: AZZUF, FRA: P8AA) ("Azarga Uranium" or the "Company") understands that on 14 April 2019, the United States Department of Commerce (the "DOC") completed its investigation into the effects of uranium imports on United States national security and submitted the report to the White House. The United States President has up to 90 days from 14 April 2019 to act on the DOC's recommendations.
The DOC investigation was undertaken in response to a petition filed by two United States uranium mining companies. The petition proposed that certain remedies be implemented including a quota that reserves 25% of the United States uranium market for uranium mined in the United States and a "Buy American" policy for United States government entities that use uranium. The Company understands that the DOC report, including any recommendations, has not been made public.
Blake Steele, President and CEO, stated: "We await with interest the President's decision on the DOC recommendations, which are not known at this time. As this process is outside of the Company's control, we will continue to focus on executing our corporate strategy. Our focus remains on advancing our initial development priority, the Dewey Burdock in-situ recovery uranium project in South Dakota, USA, with progression of permitting and preparation of an updated preliminary economic assessment based on the significant resource increase reported in Q4 2018, quantifying the uranium mineralization identified at our Dewey Terrace Project, which is located directly adjacent to the Dewey Burdock Project and continuing the evaluation of in-situ recovery development options at our Gas Hills Project."
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.
Follow us on Twitter at @AzargaUranium.
For further information, please contact:
Blake Steele, President and CEO
+1 303 790-7528
E-mail: info@azargauranium.com
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 petition proposed that certain remedies be implemented including a quota that reserves 25% of the United States uranium market for uranium mined in the United States and a "Buy American" policy for United States government entities that use uranium, the Company will continue to focus on executing our corporate strategy, including advancing our initial development priority, the Dewey Burdock in-situ recovery uranium project in South Dakota, USA, with progression of permitting and preparation of an updated preliminary economic assessment based on the significant resource increase reported in Q4 2018, quantifying the uranium mineralization identified at our Dewey Terrace Project, which is located directly adjacent to the Dewey Burdock Project and continuing the evaluation of in-situ recovery development options at our Gas Hills Project 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 the United States President's decision will not be consistent with the remedies proposed by the petitioners in the petition, the risk that the Company's corporate strategy will differ from this news release, 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.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
SOURCE: Azarga Uranium Corp.
View source version on accesswire.com:
https://www.accesswire.com/542291/Department-of-Commerce-Completes-Section-232-Investigation-on-Uranium
