Uranium Resources Announces Director Changes
LEWISVILLE, Texas -- January 16, 2013
Uranium Resources, Inc. (NASDAQ: URRE) (URI), today announced that Mark K.
Wheatley was appointed as an independent director of URI, effective January
Mr. Wheatley has more than 25 years of global metals and mining exploration
and development experience and has served on the boards of a number of listed
companies over the last 10 years. He is currently a director of Xanadu Mines
and Goliath Gold and was a director of Gold One International until the end of
2012. Mr. Wheatley was a director of Uranium One Inc from 2005 through 2010.
He was CEO of Southern Cross Resources from 2003, and Chairman of the Board
beginning in 2004, until the company merged to create Uranium One in 2005. His
executive management experience also includes Managing Director and CEO of BMA
Gold Ltd and General Manager of Corporate Development for Aurion Gold. He also
was Senior Vice President within the global mining team of Bankers Trust
Australia. Mr. Wheatley started his career at BHP Billiton in 1979 and worked
in a number of technical and commercial roles.
Paul K. Willmott, Executive Chairman of the Board of URI, commented, “Mark
adds a wealth of experience and a solid knowledge of the industry to the URI
board. He has successfully led companies in all aspects and phases of a
project, including finance, operations, exploration, production and ultimately
closure. His experience will prove invaluable as we work to develop our asset
base in South Texas and New Mexico.”
With Mr. Wheatley's appointment, the Company's Board of Directors now consists
of five directors, including three independent directors. Mr. Wheatley will
also serve on the Company’s Audit Committee, increasing the number of members
to three. Following Mr. Wheatley’s appointment, the Company expects to regain
compliance with NASDAQ rules requiring the Board of Directors to be comprised
of a majority of independent directors and the Audit Committee to be comprised
of at least three independent members.
The Company also announced that, effective February 1, 2013, Paul K. Willmott,
who has been an executive officer of the Company since 1995 and Executive
Chairman since 2007, is now non-executive Chairman of the Board. Paul joined
URI in 1994 as a director and was Chief Executive Officer from 1995 to August
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since its
incorporation in 1977, URI has produced over 8 million pounds of uranium by
in-situ recovery (ISR) methods in the state of Texas. URI has over 206,600
acres of uranium mineral holdings and 152.9 million pounds of in-place
mineralized uranium material in New Mexico and an NRC license to produce up to
1 million pounds of uranium per year. URI has an additional 1.3 million pounds
of in-place mineralized uranium material in Texas and South Dakota. The
Company acquired these properties over the past 20 years along with an
extensive information database of historic drill hole logs, assay
certificates, maps and technical reports.
Uranium Resources routinely posts news and other information about the Company
on its website at www.uraniumresources.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,” “estimates,” “projects,” “anticipates,”
“believes,” “could,” and other similar words. All statements addressing
operating performance, events, or developments that the Company expects or
anticipates will occur in the future, including but not limited to statements
relating to the Company’s estimated mineralized uranium material, expected
compliance with NASDAQ rules, development of the Company’s asset base, and the
strategy of the Company are forward-looking statements. Because they are
forward-looking, they should be evaluated in light of important risk factors
and uncertainties. These risk factors and uncertainties include, but are not
limited to, the spot price and long-term contract price of uranium, the
outcome of negotiations with the Navajo Nation, the Company’s ability to reach
agreements with current royalty holders, weather conditions, operating
conditions at the Company’s mining projects, government and tribal regulation
of the mining industry and the nuclear power industry, world-wide uranium
supply and demand, availability of capital, timely receipt of mining and other
permits from regulatory agents and other factors which are more fully
described in the Company’s documents filed with the Securities and Exchange
Commission. Should one or more of these risks or uncertainties materialize, or
should any of the Company’s underlying assumptions prove incorrect, actual
results may vary materially from those currently anticipated. In addition,
undue reliance should not be placed on the Company’s forward-looking
statements. Except as required by law, the Company disclaims any obligation to
update or publicly announce any revisions to any of the forward-looking
statements contained in this news release.
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
Uranium Resources, Inc.
Mat Lueras, 505-269-8317
Vice President, Corporate Development
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