International Isotopes Inc (INIS)

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INIS Announces Nuclear Regulatory Commission Final Approval Of The Safety Evaluation Report

IDAHO FALLS, Idaho, May 31, 2012 /PRNewswire/ -- International Isotopes Inc. (OTC Bulletin Board: INIS) (The Company) is very pleased to announce that the U.S. Nuclear Regulatory Commission (NRC) has completed its review and approval of the final Safety Evaluation Report (SER) for the Company's planned depleted uranium de-conversion and fluorine extraction processing facility. The NRC has published the final SER as U.S. NRC Regulation (NUREG-2116) and has posted the document on the NRC website and published it in the Federal Register.

The Company originally submitted its license application to the NRC in December 2009, and the NRC has been reviewing that application and preparing the SER since that time. The SER documents the NRC's staff review and their evaluation of safety, and potential adverse impacts on workers and the public under both normal operations and accident conditions. The NRC review also considers the management organization, administrative programs, and financial qualifications provided by the Company to ensure safe design and operation of the facility. The NRC staff has concluded, in this SER, that the Company's descriptions, specifications, and analyses provide an adequate basis for safety of facility operations and that operation of the facility does not pose an undue risk to workers or public health and safety.

The NRC approval and publication of the SER is a major milestone in the licensing process for the Company's planned facility. The only remaining NRC action to be completed before the Company is issued its combined forty-year construction and operating licenses for the facility is the final Environmental Impact Statement (EIS), which is expected to be issued as a final document around September 2012.

Steve T. Laflin, President and CEO of the Company said, "The NRC approval of the SER is certainly a major milestone in the Company's effort to license and construct the first ever "green" depleted uranium de-conversion and fluorine extraction processing facility in the U.S. This is a truly unique, first of its kind facility, and the first SER to be issued by the NRC for a facility fully compliant with the NRC's new Part 40 requirements, which incorporate integrated safety analysis as part of the original facility design. I would like to recognize the NRC staff for their excellent coordination and communication with the Company throughout the document review process as well as NRC management who worked to ensure the review process was completed in a timely manner and close to the original review schedule. I would also like to recognize the outstanding work of our management staff and our licensing and engineering subcontractor, Advanced Process Technology Systems, for the preparation of a high quality application and diligent support of the NRC requests for additional information. The overall quality of the license application allowed the NRC review to proceed without major challenges or problems with the technical or safety basis aspects of the plant design and planned operation."

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