| Wed 20 Sep 2006, 8:05 | | sxr Uranium One Inc - Plant Commissioning Commence |
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SXR
SXR
sxr Uranium One Inc - Plant Commissioning Commences at Dominion Uranium Project
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
390 Bay Street, Suite 1610
Toronto, Ontario M5H 2Y2
Trading Symbol: SXR - Toronto Stock Exchange, Johannesburg Stock Exchange
NEWS RELEASE
September 19, 2006 Toronto, Ontario
Plant Commissioning Commences at Dominion Uranium Project
Toronto, Ontario and Johannesburg, South Africa - sxr Uranium One Inc. ("Uranium
One" or the "Corporation") (TSX and JSE: SXR) is pleased to announce that plant
commissioning has commenced at the Dominion Uranium Project, one quarter ahead
of the Corporation"s previously anticipated schedule.
Plant substations and transformers were energized on August 31, 2006. The
boiler is currently being commissioned and a program of commissioning the
remaining plant equipment is underway. Construction of the thickeners is being
completed and the first autoclave has been delivered ahead of schedule.
The crushing circuit is currently operational and will be integrated into the
uranium processing circuit. The existing gold carbon in leach plant has been
treating ore from Bonanza South and producing gold on a batch basis throughout
2006.
The workforce at Dominion now totals 1,300 employees with an additional 700
contractor employees engaged in construction of the plant. Recruitment and
training of staff to man the plant on a permanent basis is underway.
Neal Froneman, CEO of Uranium One, commented:
"Dominion is moving smoothly towards start-up of production. The commencement
of plant commissioning is a significant milestone and I am pleased to see that
the team has been able to meet this milestone one quarter ahead of schedule. We
remain confident that we are well on track to achieve our objective of hot
commissioning in the first quarter of 2007."
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 JSE
Limited (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
an approximate 71% 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 Chris Sattler
Chief Executive Officer 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.
This News Release includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and "forward-
looking information" within the meaning of applicable Canadian legislation. All
statements other than statements of historical fact included in this release
including, without limitation, statements regarding potential mineralization and
reserves and future plans and objectives of Uranium One, are forward-looking
statements (or forward-looking information) that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors could cause actual results to
differ materially from Uranium One"s expectations. Such factors include, among
others, the actual results of exploration activities, actual results of
reclamation activities, the estimation or realization of mineral reserves and
resources, the timing and amount of estimated future production, costs of
production, capital expenditures, costs and timing of the development of new
deposits, availability of capital required to place Uranium One"s properties
into production, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of commodities,
possible variations in ore grade or recovery rates, failure of plant, equipment
or processes to operate as anticipated, accidents, labour disputes and other
risks of the mining industry, delays in obtaining governmental approvals,
permits or financing or in the completion of development or construction
activities, Uranium One"s hedging practices, currency fluctuations, title
disputes or claims limitations on insurance coverage, as well as those factors
discussed under "Risk Factors" in Uranium One"s Annual Information Form and
Management"s Discussion and Analysis as filed with securities regulatory
authorities in Canada. Although Uranium One has attempted to identify important
factors that could cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such 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 does not undertake to update any forward
looking statements that are included herein, except in accordance with
applicable securities laws.
To receive the Corporation"s news releases by email, please register on Uranium
One"s website - www.uranium1.com
Date: 20/09/2006 08:05:04 AM Produced by the JSE SENS Department
