Post by Franko10 ™ on Mar 2, 2005 14:53:02 GMT -5
IUC and JNR Sponsor New Equipment for SRC Lab
14:30 EST Wednesday, March 02, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2005) - International Uranium Corporation ("IUC") (TSX:IUC) and JNR Resources Inc. ("JNR") are pleased to announce that they have contributed a new $43,000 acid distillation system to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC"). The benefits of the new equipment include substantial reductions in processing times (from days to hours) and a reduction in the consumption and cost of chemicals (up to $30,000 annually).
With the mining industry booming in Saskatchewan, SRC has been busy analyzing samples for industry clients. The donation of new lab equipment from IUC and JNR will help the labs streamline processes to provide a shorter turnaround time for their clients.
"Saskatchewan's uranium industry provides many jobs, investment, and economic development for our province," said Eric Cline, Minister Responsible for SRC. "This new equipment will enable the labs to increase their capacity while continuing to provide world-class analysis services for their industry clients. It's so great to see this type of partnership - it's a win-win situation for everyone," added Cline.
"We are very excited about the potential of Moore Lake and our other projects in the Athabasca Basin, said IUC president Ron Hochstein. "For 2005, IUC has an exploration budget of just over $13 million, of which about $10 million will be spent in the province of Saskatchewan." The budget includes a $3.0 million winter exploration program on the Moore Lake uranium project which IUC has an option to earn a 75% interest in.
"We are currently exploring one of the best uranium exploration projects in the Basin and we are producing a high volume of samples," said JNR president Richard Kusmirski. "We expect, and we continue to receive, high quality and timely service from SRC's labs. With this contribution, we recognized an opportunity to give something back to the lab and we are pleased to be able to help."
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company owns approximately 58% of the outstanding shares of Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein
President
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.intluranium.com
14:30 EST Wednesday, March 02, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2005) - International Uranium Corporation ("IUC") (TSX:IUC) and JNR Resources Inc. ("JNR") are pleased to announce that they have contributed a new $43,000 acid distillation system to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC"). The benefits of the new equipment include substantial reductions in processing times (from days to hours) and a reduction in the consumption and cost of chemicals (up to $30,000 annually).
With the mining industry booming in Saskatchewan, SRC has been busy analyzing samples for industry clients. The donation of new lab equipment from IUC and JNR will help the labs streamline processes to provide a shorter turnaround time for their clients.
"Saskatchewan's uranium industry provides many jobs, investment, and economic development for our province," said Eric Cline, Minister Responsible for SRC. "This new equipment will enable the labs to increase their capacity while continuing to provide world-class analysis services for their industry clients. It's so great to see this type of partnership - it's a win-win situation for everyone," added Cline.
"We are very excited about the potential of Moore Lake and our other projects in the Athabasca Basin, said IUC president Ron Hochstein. "For 2005, IUC has an exploration budget of just over $13 million, of which about $10 million will be spent in the province of Saskatchewan." The budget includes a $3.0 million winter exploration program on the Moore Lake uranium project which IUC has an option to earn a 75% interest in.
"We are currently exploring one of the best uranium exploration projects in the Basin and we are producing a high volume of samples," said JNR president Richard Kusmirski. "We expect, and we continue to receive, high quality and timely service from SRC's labs. With this contribution, we recognized an opportunity to give something back to the lab and we are pleased to be able to help."
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company owns approximately 58% of the outstanding shares of Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein
President
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.intluranium.com