Uranium Resources Appoints Jeffrey L. Vigil as Vice President and CFO
Consolidating Corporate Functions in New Denver Headquarters
LEWISVILLE, Texas, June 14, 2013 (GLOBE NEWSWIRE) -- Uranium Resources, Inc.
(Nasdaq:URRE) (URI) today announced that Jeffrey L. Vigil was appointed Vice
President and Chief Financial Officer effective June 14, 2013. Mr. Vigil, who
most recently was Senior Vice President and Chief Accounting Officer at Energy
Fuels Inc. (TSX:EFR), succeeds Thomas H. Ehrlich, who resigned to pursue other
Christopher M. Jones, President and CEO of URI, stated, "Jeff is a mining
industryfinancial veteran with over thirty years of financial management
experience in both production stage and development stage enterprises. We are
excited about Jeff's passion for nuclear energy and the significant industry
experience he brings to URI. We believe his experience will play a
significant role in the execution of our strategic plan to return to
production and strengthens our position to expand our company."
During his tenure at Energy Fuels, Mr. Vigil held various financial positions
including CFO between 2009 and 2012. He managed financial and management
reporting, equity financings, tax planning and compliance, treasury functions
and risk management for Energy Fuels. He also managed financial, operational
and legal due diligence for a number of acquisitions. From 1996 to 2007, Mr.
Vigil served as CFO for Koala Corporation, which had approximately 350
employees and operated divisions in New York, Florida, Texas, Oregon, Colorado
and British Columbia. Mr. Vigil is a graduate of the University of Wyoming
with a BS in Accounting and is a licensed Certified Public Accountant in the
State of Colorado.
Mr. Ehrlich first joined URI in 1987 and most recently served as Vice
President and Chief Financial Officer for URI. "Tom has been an invaluable
member of the executive team and we thank him for all his contributions and
wish him well in his future endeavors," stated Paul K. Willmott, Chairman of
the Board of URI.
URI continues efficiency and cost reduction initiatives
The Company also announced that it will close its offices in Lewisville, Texas
and relocate its headquarters to its offices in Denver, Colorado. It is
expected that the move will be completed by the end of the third quarter of
Mr. Jones added, "These changes support our focus on cost containment and
management of expenses so that we can minimize our cash burn rate. We also
believe the consolidation will strengthen our organization, support the
development of our Texas and New Mexico properties and position us to
efficiently and effectively grow our business."
About Uranium Resources, Inc.
Uranium Resources, Inc. explores for, develops and mines uranium.Since its
incorporation in 1977, URI has produced uranium by in-situ recovery (ISR)
methods in Texas and currently has a number of initiatives underway to return
the Company to production.URI has over 206,600 acres of uranium mineral
holdings and 144.8 million pounds of in-place mineralized uranium material in
New Mexico and an NRC license to produce up to 3 million pounds of uranium per
year.URI has an additional 664,000 pounds of in-place reserves in Texas.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 mineralized uranium materials, development plans for
properties in South Texas and New Mexico, the timing for and savings
associated with consolidation activities, plans for managing capital and
returning to production 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 Company's ability to raise additional capital in the future,
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, maintaining sufficient financial assurance in the form of
sufficiently collateralized surety instruments 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.
CONTACT: Investor Contact:
Deborah K. Pawlowski
Kei Advisors LLC
Uranium Resources, Inc.
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