B&W and Lightbridge to Collaborate on Metallic Nuclear Fuel Pilot Fabrication Facility

B&W and Lightbridge to Collaborate on Metallic Nuclear Fuel Pilot Fabrication
Facility

CHARLOTTE, N.C., Oct. 15, 2013 (GLOBE NEWSWIRE) -- Babcock & Wilcox Nuclear
Energy, Inc. (B&W NE), a subsidiary of The Babcock & Wilcox Company
(NYSE:BWC), and Lightbridge Corporation (Nasdaq:LTBR) have signed a memorandum
of understanding (MOU) to explore joint development of a pilot-scale facility
to demonstrate fabrication of Lightbridge's innovative metallic nuclear fuel.

Lightbridge's nuclear fuel technology is designed to provide an increase in
power output while simultaneously extending the operating cycle length in
existing pressurized water reactors. The metallic fuel could provide improved
safety and fuel performance benefits. B&W NE and Lightbridge will jointly
identify a pilot fabrication facility to demonstrate the fuel rod fabrication
capability. If the potential teaming arrangement proves feasible, Lightbridge
and B&W could enter into a definitive agreement early next year.

"Our relationship with Lightbridge on this pilot project is a testament to
B&W's reputation for excellence in operating nuclear facilities, and our
commitment to pursuing innovation that can strengthen the commercial nuclear
industry," said Joe Zwetolitz, President, B&W NE. "The nuclear fuel design
concept that Lightbridge is developing has the potential to provide utilities
with improved safety and performance, and is rooted in decades of proven
operational excellence."

"Collaboration with B&W on the pilot-scale fuel fabrication facility study is
another important milestone in the commercial advancement of our innovative,
metallic nuclear fuel," said Seth Grae, Lightbridge President and Chief
Executive Officer."We hope the initial collaboration under the MOU can lead
to a definitive agreement early next year."

Under the MOU, B&W and Lightbridge agree to perform scoping studies relating
to the pilot fabrication facility and explore potential teaming arrangements
in that area.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in
clean energy technology and services, primarily for the nuclear, fossil and
renewable power markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and employs
approximately 12,000 people, in addition to approximately 10,400 joint venture
employees. Learn more at www.babcock.com.

About Lightbridge Corporation

Lightbridge is a U.S. nuclear energy company based in McLean, Virginia with
operations in Abu Dhabi, Moscow and London.The Company develops proprietary,
proliferation resistant, next generation nuclear fuel technologies for current
and future nuclear reactor systems.The Company also provides comprehensive
advisory services for established and emerging nuclear programs based on a
philosophy of transparency, non-proliferation, safety and operational
excellence.Lightbridge's breakthrough fuel technology is establishing new
global standards for safe and clean nuclear power and leading the way to a
sustainable energy future.Lightbridge consultants provide integrated
strategic advice and expertise across a range of disciplines including
regulatory affairs, nuclear reactor procurement and deployment, reactor and
fuel technology and international relations.The Company leverages those broad
and integrated capabilities by offering its services to commercial entities
and governments with a need to establish or expand nuclear industry
capabilities and infrastructure. Learn more at www.ltbridge.com.

Cautionary Statement Regarding Forward Looking Statements

This news release contains statements that are forward-looking in nature
within the meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's competitive position and product
and service offerings.These statements are based on current expectations on
the date of this news release and involve a number of risks and uncertainties
that may cause actual results to differ significantly from such estimates.The
risks include, but are not limited to, the degree of market adoption of the
Company's product and service offerings; market competition; dependence on
strategic partners; and the Company's ability to manage its business
effectively in a rapidly evolving market.Certain of these and other risks are
set forth in more detail in Lightbridge's filings with the Securities and
Exchange Commission.Lightbridge does not assume any obligation to update or
revise any such forward-looking statements, whether as the result of new
developments or otherwise.

CONTACT: B&W Media Contact:
         Aimee Mills
         Media Relations Lead
         The Babcock & Wilcox Company
         980.365.4583 aemills@babcock.com
        
         B&W Investor Contact:
         Jenny Apker
         Vice President, Treasurer and Investor Relations
         The Babcock & Wilcox Company
         704.625.4937 investors@babcock.com
        
         Lightbridge Media and Investor Contact:
         Gary Sharpe
         Investor Relations and Corporate Communications
         Lightbridge Corporation
         571.730.1213 gsharpe@ltbridge.com

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