| Thu 4 Jan 2007, 16:25 | | SXR - SXR Uranium One Inc - Uranium one granted te |
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SXR
SXR
SXR - SXR Uranium One Inc - Uranium one granted ten year export permit for
honeymoon 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
("Corporation")
sxr Uranium One Inc.
390 Bay Street, Suite 1610
Toronto, Ontario M5H 2Y2
Trading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg Stock
Exchange)
NEWS RELEASE
January 4, 2007
Toronto, Ontario
Uranium One Granted Ten Year Export Permit for Honeymoon Uranium Project
Toronto, Ontario and Johannesburg, South Africa - sxr Uranium One Inc.
("Uranium One") is pleased to announce that the Ministry of Industry, Tourism
and Resources of Australia has approved Uranium One`s request for a new
Permission to Export Natural Uranium ("Export Permit") from the Honeymoon
Uranium Project.
The Export Permit has been granted for a period of ten (10) years, taking
effect from January 1, 2007 to December 31, 2016, inclusive.
Neal Froneman, President and CEO of Uranium One commented:
"We are pleased that Uranium One`s commitment to developing the Honeymoon
Uranium Project is being supported by both the Australian federal government
and the government of South Australia and we look forward to bringing the
project into production in 2008. It is clear that the Australian federal
government recognizes uranium as one of Australia`s most promising export
products. Uranium One has the most recent permitting experience in Australia
and as a result is well positioned to grow its uranium business in that
country."
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, and is actively pursuing growth opportunities in the uranium
sector in the western United States. The Corporation holds an approximate
71.6% 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,
Management`s Discussion and Analysis for the third quarter of 2006 and Uranium
One`s (final) short form prospectus dated October 26, 2006 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: 04/01/2007 16:25:01 Produced by the JSE SENS Department.
