Uranerz Energy Corporation (URZ)

[Realperson]

Uranerz submits license application for third Powder River Basin mining unit
Uranerz Energy announced that it has submitted the source material license amendment application for its Jane Dough unit to the U.S. Nuclear Regulatory Commission, or NRC. The Jane Dough permit area, located in the Central Powder River Basin of Wyoming, is contiguous to and immediately south of the company's wholly owned Nichols Ranch unit which recently commenced in-situ recovery uranium mining operations. Uranerz is applying to add the Jane Dough unit as an amendment to the existing license for the Nichols Ranch ISR Uranium Project, which includes the Nichols Ranch and Hank units. In this area of the Powder River Basin, uranium mineralization commonly follows along oxidization-reduction boundaries and these boundaries at the Nichols Ranch unit continue southward through the Jane Dough unit. Due to the close proximity of these two units, the company expects to install only the wellfields at Jane Dough and will transfer mining solutions to and from the processing plant at the Nichols Ranch unit through pipelines. This operational configuration should avoid the expense of constructing a separate satellite plant at Jane Dough, resulting in considerable savings in capital and time, and should serve to greatly enhance the project economics and extend the mine life at the Nichols Ranch facility.