| Fri 18 May 2007, 14:45 | | SXR Uranium One Inc - Uranium One Announces First |
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SXR
SXR
SXR Uranium One Inc - Uranium One Announces First Production of ADU at Dominion
SXR Uranium One Inc.
Share code: SXR
ISIN: CA87112P1062
390 Bay Street, Suite 1610
Toronto, Ontario M5H 2Y2
Trading Symbols: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg stock
exchange)
NEWS RELEASE
May 18, 2007
Uranium One Announces First Production of ADU at Dominion
Toronto, Ontario and Johannesburg, South Africa - sxr Uranium One Inc. ("Uranium
One") is pleased to announce the production of the first ADU (ammonium
diuranate) whilst commissioning the solvent extraction circuit at its Dominion
Reefs Uranium Mine near Klerksdorp, South Africa. This follows the processing
of underground ore through the previously commissioned atmospheric leach
circuit.
ADU is a slurry which contains uranium and after a process known as calcining,
results in the final saleable product of U3O8. In line with the production
build up it is expected that within two months sufficient quantities of ADU will
have been produced at Dominion and transported to Nufcor`s facilities for
calcining, yellowcake production and delivery to the market.
The pressure leach circuit utilizing the first autoclave is being prepared for
commissioning and will enable the Dominion Mill to achieve higher extraction
recoveries at a throughput of up to 100,000 tonnes per month. The commissioning
of the second autoclave, scheduled for August 2007, will ensure that these
higher recoveries can be obtained up to a throughput of 200,000 tonnes per
month. The Dominion Mill will continue to ramp up production, processing mined
ore from the three decline shafts and supplementing this with material from the
Dominion tailings resource.
Uranium One President and CEO Neal Froneman commented:
"We are delighted to have produced our first ADU at Dominion, and through our
partnership with Nufcor, we will soon be in a position to deliver a saleable
yellowcake product from Dominion to the market. This is now our second
production stream, with Akdala in Kazakhstan already in production. Our first
ADU production at Dominion highlights the commitment and dedication of the
Uranium One team. With this further milestone now behind us, we look forward to
delivering on our annual production and cost targets for Dominion."
About Uranium One
sxr Uranium One Inc. is a Canadian-based uranium producing company with a
primary listing on the Toronto Stock Exchange and a secondary listing on the JSE
Limited (the Johannesburg stock exchange). The Corporation owns 70% of the
operating Akdala Uranium Mine in Kazakhstan and is also developing the South
Inkai and Kharasan Uranium Projects in Kazakhstan. Uranium One owns the
Dominion Uranium Project in South Africa, as well as the Honeymoon Uranium
Project in South Australia. The Corporation recently acquired the Shootaring
Canyon Mill and associated assets in the western United States. Uranium One is
also engaged in uranium exploration activities in the Athabasca Basin of
Saskatchewan, South Africa, Australia and the Kyrgyz Republic.
For further information, please contact:
Neal Froneman Chris Sattler
Chief Executive Officer Senior Vice President,
Investor Relations
Tel: + 27 11 482 3605 Tel: + 1 416 350 3657
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Forward-looking statements: This press release contains certain forward-looking
statements. Forward-looking statements include but are not limited to those
with respect to the price of uranium and gold, the estimation of mineral
resources and reserves, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits, success of
exploration activities, permitting time lines, currency fluctuations,
requirements for additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, title disputes or
claims and limitations on insurance coverage and the timing and possible outcome
of pending litigation. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes" or variations of such
words and phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved. Forward-
looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of
Uranium One to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such risks
and uncertainties include, among others, the actual results of current
exploration activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, possible variations in grade and ore
densities or recovery rates, failure of plant, equipment or processes to operate
as anticipated, accidents, labour disputes or other risks of the mining
industry, delays in obtaining government approvals or financing or in completion
of development or construction activities, risks relating to the integration of
acquisitions, to international operations, to prices of uranium and gold as well
as those factors referred to in the section entitled "Risk factors" in Uranium
One`s Annual Information Form for the year ended December 31, 2006 which is
available on SEDAR at www.sedar.com, and which should be reviewed in conjunction
with this document. Although Uranium One has attempted to identify important
factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Uranium One expressly disclaims
any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except in
accordance with applicable securities laws.
For further information about Uranium One, please visit www.uranium1.com
Date: 18/05/2007 14:45:01 Produced by the JSE SENS Department.
