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SXR
SXR
sxr Uranium One Inc. submits application to commercially mine and mill
radioactive ore at Honeymoon
sxr Uranium One Inc
(Formerly Southern Cross Resources Inc.)
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: SXR ISIN: CA87112P1062
Share code on the TSX: SXR ISIN: CA87112P1062
("Corporation")
NEWS RELEASE
May 25, 2006 Toronto, Ontario
Uranium One submits application to commercially mine and mill radioactive ore at
Honeymoon
Toronto, Ontario and Johannesburg, South Africa -- sxr Uranium One Inc. today
submitted an application to the South Australian Environment Protection
Authority for a commercial licence to mine and mill radioactive ore at its
Honeymoon Project, South Australia. The company already holds a Federal Export
License and State Mining Lease 6109 over the Honeymoon and East Kalkaroo project
area. The Export Licence was granted on the approval of the Environmental
Impact Study (EIS) in November 2001, and the Mining Lease was granted on the
signing of Native Title Agreements with traditional landowners in February 2002.
The company is in the final stages of completing a NI 43-101 compliant
feasibility study on the Honeymoon Project due to be completed in June 2006,
which will then be presented to the sxr Uranium One Board of Directors for
approval and a commercial production commitment decision in the third quarter of
2006. The timing of this application for the licence to mine and mill
radioactive ore is in the normal course of the project"s development.
About sxr Uranium One
sxr Uranium One Inc. is a Canadian uranium and gold resource company with a
primary listing on the Toronto Stock Exchange and a secondary listing on the
Johannesburg stock exchange. The Corporation owns the Dominion Uranium Project
in South Africa and the Honeymoon Uranium Project in South Australia, as well as
a number of exploration projects. The Corporation holds a 79% interest in
Aflease Gold Limited, which owns the Modder East gold project in South Africa.
Through a joint venture with Pitchstone Exploration Ltd., the Corporation is
also engaged in uranium exploration activities in the Athabasca Basin of
Saskatchewan.
For further information please contact:
Neal Froneman
Chief Executive Officer
Tel: + 27 11 482-3605
John Fraser
Corporate Communications
Tel: + 27 11 482-3605
Don Falconer
Vice President, Investor Relations
Tel: +1 416 350-3657
In Australia:
Leigh Curyer
Vice President, Corporate Development - Australia & Asia
Tel: +61 (0)8 8363 7006
Cautionary note concerning forward-looking statements and disclosure of
estimates of mineral resources: Statements in this release that are not
historical facts are "forward-looking statements" involving known and unknown
risk and uncertainties which are beyond the ability of the Corporation to
control or predict and which could cause actual events or results to differ
materially from those anticipated in such forward-looking statements.
To receive the Corporation"s news releases by email, contact John Fraser,
Corporate Communications at john@uranium1.com or Don Falconer, Investor
Relations, at don@uranium1.com. The TSX has neither approved nor disapproved of
the information contained herein.
Date: 26/05/2006 08:54:23 AM Produced by the JSE SENS Department
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