| Fri 29 Sep 2006, 17:06 | | sxr Uranium One Inc. - News Release |
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SXR
SXR
sxr Uranium One Inc. - News Release
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 29, 2006 Toronto, Ontario
Uranium One Announces Receipt of Environmental Licence for Honeymoon
Toronto, Ontario and Johannesburg, South Africa - sxr Uranium One Inc. (Uranium
One) is pleased to announce that the Environment Protection Authority of
Southern Australia has issued the licence required under the Radiation
Protection and Control Act (1982) required for commercial uranium mining
operations at its Honeymoon Project.
The Project currently has an approved Environmental Impact Statement, Mining
Lease and uranium export licence.
Work on construction of the Honeymoon in-situ leach uranium mine, Australia"s
fourth uranium mine, will commence before the end of this year, and production
is due to begin in 2008.
Uranium One"s President and CEO, Neal Froneman commented:
"We are pleased to have been issued this licence from the Environment Protection
Authority. This is another milestone in the development of the Honeymoon
Project and we look forward to advancing towards commencement of production
early in 2008."
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 future plans and objectives
of Uranium One and the timing of commencement of construction activities, 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.
Investors are cautioned not to assume that all or any part of the mineral
deposits in the measured and indicated resource categories will ever be
converted into reserves. In addition, "inferred resources" have a great amount
of uncertainty as to their existence and economic and legal feasibility. It
cannot be assumed that all or any part of an inferred mineral resource will be
ever be upgraded to a higher category. Under Canadian rules, estimates of
inferred mineral resources may not form the basis of feasibility or pre-
feasibility studies or economic studies except for preliminary assessments as
defined under NI 43-101. Investors are cautioned not to assume that all or any
part of an inferred resource exists or is economically or legally mineable.
To receive the Corporation"s news releases by email, please register on Uranium
One"s website - www.uranium1.com
Date: 29/09/2006 05:06:08 PM Produced by the JSE SENS Department
