Ur-Energy Begins Uranium Mining Operations in Wyoming
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company," "Ur-Energy" or "we"), a domestic uranium producer with ISR projects that are among the largest and lowest-cost in the United States, is pleased to announce the start of uranium mining operations at its Shirley Basin Project in Wyoming. Uranium bearing solution is now being captured from Mine Unit 1 at Shirley Basin after the successful completion of significant construction, wellfield installation, and permitting. Uranium concentrations in recovered solutions are expected to increase over time as we further condition the wellfield, and all production circuits are brought online. We expect to transport uranium loaded resin to Lost Creek for processing this summer, subject to an additional regulatory inspection and approval. The Shirley Basin Project enhances Ur-Energy's operational flexibility through its integration with existing infrastructure: Capacity: Licensed annual wellfield and toll processing capacity of up to 2.0 million pounds equivalent of U3O8. Resource Base: Measured and Indicated mineral resources totaling approximately 9.1 million pounds U3O8 at an average grade of 0.22% eU3O8. Mine Life: Anticipated mine life of approximately nine years across three shallow mining units. Operational Synergy: Uranium is captured on ion exchange resin and transported to the Company's Lost Creek facility for final processing, drying, and packaging. Matt Gili, CEO and President, commented: "Launching initial operations marks a pivotal achievement in Ur-Energy's growth strategy and plan to expand U.S. uranium production capacity. Two years ago, we committed to building out this project. Today, we have successfully brought a historically significant uranium district back to life, demonstrating disciplined execution of our strategy. This accomplishment reflects the dedication and expertise of our teams, who have advanced Shirley Basin from development to operations. It is particularly meaningful as it supports the growing need for secure, domestic uranium supply and underscores our ability to move permitted projects toward production while strengthening our role in the U.S. nuclear fuel cycle."
