FSC / Press Release
European Uranium Takes Next Step in Kuriskova Uranium Feasibility Study
Vancouver, British Columbia CANADA, November 14, 2012 /FSC/ - European Uranium
Resources Ltd. (EUU: TSX-V; TGPN: Frankfurt), provides an update on the
progress of the feasibility study for the Company's high-grade Kuriskova uranium
deposit in Slovakia. The Kuriskova deposit is one of the world's highest grade
undeveloped uranium deposits at a grade of 0.555% U3O8. A preliminary
feasibility study demonstrates that Kuriskova could be one of the lowest cost
uranium producers in the world.
Composite samples for ongoing metallurgical testwork were recently prepared
using drill core from the newly completed metallurgical drilling program (see
news releases dated June 26 and July 24, 2012). Where necessary, to bring
composite grade to the appropriate level for the test work, quarter core from
previously drilled holes was blended into the sample. The samples have been
shipped to AREVA's laboratory facility at Bessines, France. Metallurgical test
work will begin shortly as part of EUU's pre-paid technical services agreement
This test work is part of EUU's ongoing programs and studies to complete a
feasibility study on the Kuriskova deposit. The results of this metallurgical
test program will be used for flow sheet optimization and further development of
design parameters and costing for the feasibility study. The objective is to
optimize the process flow sheet as described in the preliminary feasibility
study. The Company also continues to advance critical path aspects of the
feasibility study as well as the collection of baseline data for the
environmental impact study for the Kuriskova deposit.
The April 2011 NI 43-101 compliant resource estimate, audited and approved by
Tetra Tech, Inc., comprises an Indicated Resource of 28.5 million pounds of U3O8
at a grade of 0.555% U3O8 contained in 2.3 million tonnes and an additional
Inferred Resource of 12.7 million pounds of U3O8 at a grade of 0.185% U3O8
contained in 3.1 million tonnes, at a cut-off of 0.05% U (see news release dated
April 26, 2011). A preliminary feasibility study, announced January 30, 2012,
demonstrates that Kuriskova could be one of the lowest cost uranium producers in
EUU continues its efforts to define a structure which would allow uranium from
Kuriskova to be developed for the benefit of Slovakia's energy future. This
could be a production off-take arrangement with Slovakia or a partnership with a
This release has been reviewed and approved for the Company by Dorian L. (Dusty)
Nicol, President and CEO of the Company, and a Qualified Person as defined in NI
About European Uranium Resources Ltd.
European Uranium Resources Ltd. is a dedicated European uranium exploration and
development company that has built a portfolio of outstanding projects in
Slovakia, Sweden and Finland at all stages of the exploration / development
pipeline. European Uranium is well placed to become the key uranium exploration
and development company in Europe. Europe is the world's largest per capita
consumer of uranium with 160 reactors and more under construction or planned,
but with only one currently operating uranium mine. The Company's Kuriskova
Project in Slovakia could be one of the world's lowest cost uranium producers.
European Uranium has a strong base of supportive shareholders including AREVA,
ranked first in the global nuclear power industry and a key player in uranium
mining and nuclear operations on a world-wide basis.
EUROPEAN URANIUM RESOURCES LTD.
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Doris Meyer, at (604) 536-2711, or visit
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the
Corporation's current expectations and estimates. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the actual
results of current exploration activities; conclusions of economic evaluations;
changes in project parameters as plans to continue to be refined; possible
variations in ore grade or recovery rates; accidents, labour disputes and other
risks of the mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on which it
is made and, except as may be required by applicable securities laws, the
Corporation disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements due to the
inherent uncertainty therein.
To view this press release as a webpage, please click on the following link:
Source: European Uranium Resources Ltd. (EUU - TSX-V) (TGP - FWB)
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-0- Nov/14/2012 12:30 GMT
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