Uranium Energy News Releases
Uranium Energy Corp Completes Acquisition of Key Uranium Database Covering One Million Acres and 10,000 Drill Holes in Texas, Wyoming and New Mexico.
April 20, 2006
The purchase of Moore Energy’s 30-Year strategic database propels the Company’s acquisition, exploration and development programs in highly prolific Uranium zones in the USA.
AUSTIN, TX – APRIL 20, 2006 – Uranium Energy Corp (URME:OTCBB) (the “Company”), has acquired a significant strategic database of US uranium exploration and development results from Moore Energy Corporation, a private Oklahoma-based uranium development and exploration company.
The Moore Energy US uranium database consists of over 30 years of substantial uranium exploration and development information in the uranium-producing states of Texas, New Mexico, and Wyoming, originally conducted during the 1970s, ‘80s and ‘90s. The database has already been instrumental for the Company in identifying drill-proven uranium ore bodies, and in supporting the negotiation of joint ventures. It includes results of over 10,000 drill holes, plus primary maps, and geological reports. It covers approximately one million acres of prospective uranium claims, in the South Texas trend, New Mexico, and Powder River Basin, Wyoming, as well as previously-unknown uranium-bearing zones in Texas. The Moore Energy database positions the Company to become a leader in US uranium exploration and development.
The database also provides the Company with essential development data about its flagship Goliad Project in south Texas, including 250,000 feet of drill logs that define 5.2 million pounds of historic resources, and further delineates zones of potential to expand these resources significantly. It also contains significant drilling results from properties that are being developed by other uranium exploration companies, which are expressing interest in joint ventures, or strategic relationships.
Amir Adnani, CEO of Uranium Energy Corp, comments on the acquisition: “This acquisition delivers considerable value and time savings for our shareholders. We have the benefit of over 30 years of valuable uranium field experience data here, and an estimated saving of $9 million in exploration costs. These important assets are now being aggressively exploited by our technical team. This data gives us a tremendous competitive advantage in these regions and will deliver significant value to our shareholders as we begin to capitalize on this investment, not only in our current holdings, but for future exploration and development as well.”
About Uranium Energy Corp
Uranium Energy Corp (URME: OTCBB) is a US-based junior resource company with the near-term objective of uranium production in the United States. The company has a mandate to acquire historical uranium resources that can be quickly developed into producing uranium mines. The Company is managed by veteran mining and exploration professionals eminent in the field of uranium, whose collective experience in the mining industry, and specifically in the uranium mining sector, brings together more than 180 years of uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the world’s first significant alternative energy boom. See www.uraniumenergy.com for more information.
Contact North America: Investor Relations, Uranium Energy Corp
Phone: Toll-Free (877) 676-7183 or (512) 721-1022
Fax: (512) 721-1023
E-mail: [email protected]
Website: www.uraniumenergy.com
Contact Europe: International Market Trend AG
Phone: +41.43.888.67.00 Fax: +41.43.888.67.09
Stock Exchange Information: Symbol: OTCBB – URME
Frankfurt/Berlin Symbol – U6Z, WKN: AØJDRR , ISN: US9168961038
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