VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has provided an update on results from the recently completed high-resolution airborne radiometric survey and the commencement of on-ground work at the Hook Lake Project (previously the North Falcon Point Project). The radiometric survey was completed in late July and covered the northeastern third of the Hook Lake Project including the Hook Lake/Zone S historical high-grade uranium occurrence. Numerous anomalies have been identified from the survey (see Figure 1 below). Total count radiometric anomalies were ranked with the highest priority anomalies being strongly correlated with the uranium channel count.

Hook Lake (Formally North Falcon Point) Project:
https://skyharbourltd.com/_resources/projects/Falcon-Point-Project.jpg

The survey was flown by Special Projects Inc. (“SPI”) from Calgary, Alberta who are considered an industry-leading provider of high-resolution airborne radiometric surveying. SPI flew the radiometric survey that delineated Fission Uranium’s PLS boulder field which eventually led to the discovery of the high-grade uranium Triple R deposit.

The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the Project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.

Highlights:

• Airborne Radiometric survey highlights several new targets:

  • North-western area identified as new area of interest with a cluster of Priority 1 and 2 anomalies

  • Several other Priority 1 and 2 anomalies identified away from known historical occurrences

  • Hook Lake/Zone S historical high-grade uranium occurrence confirmed as Priority 1 target

• On-ground work underway to:

  • Follow up and confirm historical uranium occurrences

  • Follow up areas of interest from the recent Airborne magnetic and VLF-EM survey

  • Follow up anomalies identified in recently completed Radiometric Survey

Figure 1: Hook Lake Airborne Radiometrics Ternary Plot – Priority Anomalies
https://www.skyharbourltd.com/_resources/maps/20210805-Figure1.jpg

Of note is the cluster of Priority 1 and 2 anomalies identified in the northwest of the Project area where no uranium occurrences have previously been identified. The historical high-grade uranium occurrence at the Hook Lake (or Zone S) prospect was confirmed as a Priority 1 radiometric anomaly, with a Priority 2 anomaly located approximately 3km to the northeast along strike. There are additional Priority 1 and 2 anomalies away from known occurrences that require on-ground follow- up.

On-ground follow-up work has commenced which is being conducted by Dahrouge Geological Consulting Ltd. This work is focused on validating and developing the geological understanding of the historic uranium occurrences, such as the Hook Lake (or Zone S) prospect. The field crew will also follow-up on the new targets generated from the magnetic/VLF-EM survey completed in April and the priority anomalies identified from the recently completed airborne radiometric survey. A field crew supported by a helicopter is carrying out the field program over a period of 2-3 weeks.

About Hook Lake (previously North Falcon Point) Project:

Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralization including:

• Hook Lake / Zone S – High grade surface outcrop with reported grades in grab samples up to 68% U₃O₈; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast

• Nob Hill – Fracture-controlled vein-type uranium mineralization on surface outcrop with up to 0.130% – 0.141% U₃O₈ in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m

• West Way – Vein type U mineralization within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U₃O₈ and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb

• Grid T – Fracture-hosted secondary uranium mineralization in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U

• Alexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively

• Thompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder

• NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The Project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the Project area.

Warrant Exercises:

Skyharbour also announces that it has received an aggregate $1,204,713 from the exercise of share purchase warrants recently. A total of 4,461,900 warrants have been exercised since late June with a strike price of 27 cents with this batch of warrants expiring on August 10^th. Skyharbour is fully funded for its ongoing and expanded drill program at its flagship Moore Lake Uranium Project with a total of over CAD $8.5 million in cash and in shares of partner companies. Partner companies Azincourt, Orano and Valor Resources are funding the bulk of the exploration programs at the Preston, East Preston and Hook Lake (previously North Falcon Point) Projects, respectively.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Valor Resources Ltd:

Valor Resources Limited (ASX: VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration Projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready Projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River Project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the Project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the Project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the Project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the Project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration Projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, British Columbia–(Newsfile Corp. – August 10, 2021) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is pleased to announce that it has commenced drilling at its 100% owned Love Lake Nickel-Copper-PGM project located approximately 60 km northeast of Forum's Janice Lake/Rio Tinto copper joint venture in north-eastern Saskatchewan along Highway 905 to the Rabbit Lake/ McClean Lake uranium mills (Figure 1).

Figure 1: Location of the Love Lake Cu-Ni-PGM Project

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/92639_forumfigure1.jpg

Processing of the HeliSAM Time Domain Electromagnetic (EM) survey flown on five grids on the property (see News Release dated May 10, 2021) has identified an EM target on the Korvin Grid at a depth of 170m that will be drilled for magmatic nickel- copper – PGM mineralization. The first hole at Korvin Lake is planned for a total depth of 500 metres to crosscut this anomaly while subsequent holes will be planned after downhole EM probes are conducted.

Further to the north in the vicinity of this EM anomaly, Forum plans to also conduct high frequency MaxMin Horizontal Loop EM surveys and follow-up drilling over copper mineralization at Korvin Creek drilled in 1968 and Nickel-Copper-PGM mineralization trenched in the late 1968 and drilled in 2000 at What Lake (Figure 2).

Figure 2: Love Lake drill targets are just east of Highway 905

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4908/92639_c25010f8f4f2eb13_005full.jpg

The Korvin Creek target was covered by a series of trenches for over a one kilometre strike length and two drill holes intersected copper mineralization over 31.7 metres grading 0.23% copper and 36.6 metres of 0.29% copper. No assays for platinum group metals were taken.

The What Lake trenches returned values as high as 0.43% Copper, 0.23% Nickel, 4275 ppb Palladium, 3580 ppb Platinum and 200 ppb Gold. Mapping by the Saskatchewan Geological Survey and Forum geologists concluded that drilling in 2000 was drilled in the wrong direction and would have missed reef-style or structural-style PGM mineralization.

LOVE LAKE NICKEL-COPPER-PLATINUM-PALLADIUM PROJECT

The Peter Lake Domain in northern Saskatchewan is the largest mafic/ultramafic complex in North America second only to the Duluth Complex which is centered in the heart of the Midcontinent Rift System in Minnesota and Ontario and is host to numerous magmatic copper/nickel and platinum/palladium deposits. For over 250 km of the Peter Lake Domain numerous copper/nickel and platinum/palladium showings have been uncovered over the past fifty years that have received only sporadic exploration.

Forum staked 32,075 hectares over the 20km by 5km Love Lake Complex in 2019, a 2.56 billion year old, palladium enriched layered gabbroic intrusive. A 4,412 line kilometre Heli-GT magnetic/gradiometric survey was completed for Forum by SHA Geophysics in 2020, two field programs of geological mapping, geochemical sampling and prospecting were completed by Forum in 2019 and 2020 and a 588 line kilometre HeliSam Time Domain airborne EM survey was completed in 2021.

Ken Wheatley, P.Geo., Forum's Vice President of Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) has three 100% owned energy metal projects being drilled in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

NORTH AMERICA UNITED KINGDOM

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

Burns Singh Tennent-Bhohi, Director
burnsstb@forumenergymetals.com
Tel: 074-0316-3185

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92639

Vancouver, British Columbia–(Newsfile Corp. – August 10, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to provide an update for its 100%-owned Vixen Gold Project ("Vixen" or the "Project") located in the Red Lake Mining District of Ontario. Vixen consists of three sub-projects totaling 10,614 hectares (26,227 acres), Vixen North, Vixen South and Vixen West, located within the Birch-Uchi greenstone belt approximately 60 kilometres (37 miles) east of Red Lake, Ontario.

Vixen North Exploration Permit

In the fall of 2020, ALX completed a high-resolution helicopter-borne magnetic and VLF-EM survey totaling 475.7 line-kilometres to over a known 3,000 metre-long high magnetic trend and other important structural trends present at Vixen North. Drill targets were subsequently defined by the integration of the airborne survey results with the geochemical results of site visits carried out in 2019 and 2020 (see ALX news release dated October 29, 2020), which led to the filing of an exploration permit application for Vixen North.

In late June 2021, following a positive engagement with local First Nations, ALX received an exploration permit from the Ontario Ministry of Energy, Northern Development and Mines (the "Permit"). The Permit allows for diamond drilling at up to ten locations at Vixen North totaling approximately 1,000 metres (3,280 feet), and is effective until June 28, 2024. The drilling program is designed to be helicopter-supported with a start date to be determined, due to the continuing forest fire emergency and the resulting moratorium on exploration activities in the Red Lake Mining District.

Vixen South Claims Acquisition

In early May 2021, ALX executed an option-to-purchase agreement with arm's-length vendors (the "Vendors") to purchase a 100% interest in a group of claims west of Grace Lake, consisting of nineteen claim units and a single patented claim (the "Claims", see ALX news release dated May 12, 2021). The Claims comprise approximately 384 hectares (949 acres) and are located along the northern edge of the Vixen South claim block.

ALX carried out due diligence on the Claims, which included a site visit in late June 2021 before forest fires effectively closed off access to the Vixen South area. In August 2021, ALX decided to exercise its right to purchase a 100% interest in the Claims in exchange for a total of $40,000 cash and 500,000 common shares of ALX. The Claims remain subject to a 2.5% net smelter returns royalty ("NSR") in favour of the Vendors, which can be purchased in its entirety by ALX for $2.5 million. This transaction is subject to the acceptance of the TSX Venture Exchange.

Click here for maps and photos of the Vixen Gold Project

National Instrument 43-101 Disclosure

The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickel, copper, and uranium projects. The Company uses the latest exploration technologies and holds interests in over 200,000 hectares of prospective lands in Saskatchewan and Ontario, stable Canadian jurisdictions that collectively host the highest-grade uranium mines in the world, and offer a significant legacy of production from gold and base metals mines.

ALX owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Vixen Gold Project, the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Draco VMS Project in Norway. ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the prolific Patterson Lake Corridor, with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project, a joint venture with UEX Corporation and Orano Canada Inc., and a 100% interest in the Gibbons Creek Uranium Project.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include references to ALX's exploration projects, prospective for minerals, and the Company's plans to undertake exploration activities at its projects. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at its projects, including drilling; our initial findings at its projects may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at its projects; and economic, competitive, governmental, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if gold or other metals or minerals are discovered in quantity, the project may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Three Months Ended March 31, 2021, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92580

VANCOUVER, BC / ACCESSWIRE / August 10, 2021 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) ("Azarga Uranium" or the "Company") has filed its National Instrument 43-101 ("NI 43-101") independent technical report and preliminary economic assessment ("PEA") on its Gas Hills In-situ Recovery Uranium Project in Wyoming, USA (the "Gas Hills Project") following the Company's press release dated 29 June 2021. The Company is now focused on commencing the permitting process and growing the ISR-amenable resources at the Gas Hills Project.

Highlights:

• Pre-income tax IRR of 116% and NPV of US$120.9 million

• Post-income tax IRR of 101% and NPV of US$102.6 million

• 6.5 million pounds of U₃O₈ production over 7 years; steady state production of 1.0 million pounds per year

• Robust satellite project to Azarga Uranium's flagship Dewey Burdock ISR Uranium Project with low initial capital expenditures estimated at US$26.0 million

• Direct cash operating costs estimated at US$11.52 per pound of production

Summary of Economics

The base case economic assessment results in a pre-income tax internal rate of return ("IRR") of 116% and a pre-income tax net present value ("NPV") of US$120.9 million when applying an eight percent discount rate. Using the same discount rate, the post-income tax IRR is 101% and the post-income tax NPV is US$102.6 million.

The projected cash flows for the Gas Hills Project PEA are positive in the 1st year of production, two years after the commencement of construction. Initial capital expenditures are estimated at US$26.0 million.

Direct cash operating costs are estimated to be US$11.52 per pound of production, royalties and local taxes are estimated to be US$3.62 per pound of production and the total pre-income tax cost of uranium production is estimated to be US$28.20 per pound of production. Income taxes are estimated to be US$3.82 per pound of production and have been calculated on a project basis in accordance with NI 43-101 requirements; therefore, certain tax shelter balances, such as tax loss carry forwards available at the corporate level, have not been considered.

Pre-income tax NPV and IRR Sensitivity to Alternative Uranium Price Scenarios

Cautionary statement: The results of the Gas Hills Project PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The Gas Hills Project PEA is based on the Company's mineral resource estimate press released on 30 March 2021. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimated mineral recovery (80%) used in the Gas Hills Project PEA is based on site-specific laboratory recovery data and industry experience at similar facilities. There can be no assurance that recovery at this level will be achieved. There is no certainty that the Gas Hills Project PEA will be realized.

Project Description

Between 1953 and 1988 many companies explored, developed, and produced uranium in the Gas Hills district, including on lands now controlled by Azarga Uranium. Three uranium mills have operated in the district and two other uranium mills, which operated nearby, were also fed by ore mined from the Gas Hills district. Cumulative production from the Gas Hills district is in excess of 100 million pounds of uranium, mainly from open-pit mining, but also from underground mining and ISR.

Data sources for the estimation of uranium mineral resources for the Gas Hills Project include radiometric equivalent data (eU₃O₈) for 4,569 drill holes, and eU₃O₈ and prompt fission neutron logging data for 272 drill holes. The intent of recent drilling between 2007 and 2013 included verification of earlier data for drill holes and exploration.

Metallurgical studies were completed on recovered materials including bulk samples from reverse circulation drilling and cored sections. Bottle roll and column leach tests indicate uranium recoveries of ~90% and sulfuric acid consumption of ~55 pounds per ton treated, which is consistent with past mining results.

The Gas Hills Project PEA contemplates a satellite plant development approach with final processing at a central processing facility to be constructed at Azarga Uranium's Dewey Burdock Project. Construction of the Gas Hills Project will consist primarily of wellfields in four separate resource areas connected by pipelines to a single satellite plant location containing ion exchange equipment used to extract uranium from produced wellfield fluids. Ion exchange resin will be shipped from the Gas Hills Project to the Dewey Burdock Project for uranium stripping and regeneration, with creation of a dried yellowcake product at Dewey Burdock. This concept has been used successfully for decades in numerous ISR uranium operations in Texas and Wyoming. Wellfield extraction methods will utilize a low-pH complexing solution consistent with other successfully licensed ISR uranium facilities in Wyoming and worldwide. Average project flow rate is estimated at 2,400 gallons per minute with an average head grade of 97 parts per million for an annual production capacity of 1.0 million pounds U₃O₈.

Qualified Person

The NI 43-101 compliant independent technical report and PEA titled "NI 43-101 Technical Report Preliminary Economic Assessment, Gas Hills Uranium Project, Fremont and Natrona Counties, Wyoming, USA", with an effective date of 28 June 2021 (the "Gas Hills PEA") for Azarga Uranium Corp. has been filed on SEDAR at www.sedar.com and Azarga Uranium's website at www.azargauranium.com.

The Gas Hills PEA was independently prepared in accordance with the requirements of NI 43-101 by Western Water Consultants, Inc. dba WWC Engineering, Ray Moores, P.E., a Qualified Person ("QP") as that term is defined under NI 43-101 and Roughstock Mining Services, Steve Cutler, P.G., QP. The disclosure of a scientific and technical nature contained in this press release was approved by Ray Moores, P.E., QP and Steve Cutler, P.G., QP.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

For more information, please visit www.azargauranium.com.
Follow us on Twitter at @AzargaUranium.

For further information, please contact:

Blake Steele, President and CEO
+1 605 662-8308
E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the Company's Gas Hills Project PEA, the future financial or operating performance of the Company and its mineral projects, the estimation of mineral resources, the timing and amount of estimated future production and capital, operating and exploration expenditures, the Gas Hills Project PEA contemplating a satellite plant development approach with final processing at a central processing facility to be constructed at Azarga Uranium's Dewey Burdock Project, the Company now focusing on commencing the permitting process and growing the ISR-amenable resources at the Gas Hills Project, and the Company being in the process of completing regulatory permit approvals necessary for the construction of the Dewey Burdock Project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the Gas Hills Project is not constructed and the estimated economics of the PEA are not realized, the risk that the estimated economics contained in the PEA do not reflect actual project economics, the risk that a central processing facility is not constructed timely or ever at Azarga Uranium's Dewey Burdock Project and therefore the Gas Hills Project PEA cannot be realized, the risk that the Company does not commence the permitting process and or grow the ISR-amenable resources at the Gas Hills Project, the risk that the Company does not complete regulatory permit approvals necessary for the construction of the Dewey Burdock or Gas Hills Project, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

SOURCE: Azarga Uranium Corp.

View source version on accesswire.com:
https://www.accesswire.com/659057/Azarga-Uranium-Files-Robust-Maiden-Pea-for-Gas-Hills-ISR-Uranium-Project

An Emerging Markets Sponsored Commentary

ORLANDO, Fla, Aug. 10, 2021 (GLOBE NEWSWIRE) — We’re pleased today to introduce a new profiled company to our roster of high-quality stories with Consolidated Uranium Inc. ("CUR") (TSXV: CUR) (OTCQB: CURUF), a well-financed international Uranium company with a strategy of consolidating and advancing undervalued uranium projects around the globe.

Most readers are acquainted with the appeal of Uranium, often colloquially referred to as ‘yellowcake.’ For some, the acquaintance may be in international security matters due to the incredible power of uranium in a wide variety of applications.

When the wrong people/governments want it, it makes the news. Think Iran.

But the true importance of Uranium is in the delivery of highly efficient, low carbon, base load power to the masses. In terms of electricity generation, Uranium has no equal.

To this end, Toronto based exploration company Consolidated Uranium is ahead of the curve having recently entered into definitive agreements with Energy Fuels (NYSE American: UUUU) (TSX: EFR) to acquire a portfolio of Uranium projects in the US including three past producing mines in mining friendly Utah. These new projects complement an already robust portfolio of assets, having already acquired or having the right to acquire uranium projects in Australia, Canada and Argentina each with significant past expenditures and attractive characteristics for development acquired from other well-regarded industry players such as Mega Uranium Ltd. and IsoEnergy Ltd.

These acquisitions give Consolidated Uranium a significant position in the Uranium market and the recent surge in Uranium prices, as shown in this recent Uranium chart may explain the Company’s acquisitive nature.

It’s clear, pardon the pun, that the Company is consolidating power at a time when optimism for the future of uranium is growing. This recent article from the venerable Wall Street Journal titled “Uranium Has That Healthy Glow Again,” is compelling:

https://www.wsj.com/articles/uranium-has-that-healthy-glow-again-11616497201

If the author’s conclusion is sound, Consolidated Uranium and the yellowcake sport market merit simultaneous review. Thanks to its recently acquired properties CUR is poised to become a significant producer of Uranium thereby providing investors with leverage to an anticipated further rising of Uranium prices.

About The Emerging Markets Report:

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Must Read OTC Markets/SEC policy on stock promotion and investor protection

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• https://www.sec.gov/news/press-release/2017-79

• https://www.sec.gov/oiea/investor-alerts-bulletins/ia_promotions.html

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BETHESDA, Md., Aug. 9, 2021 /PRNewswire/ — Centrus Energy Corp. (NYSE American: LEU) will broadcast its quarterly conference call with shareholders and the financial community over the Internet on Thursday, August 12, 2021, at 8:30 a.m. ET. The Company will release its second quarter earnings report for 2021, which ended June 30, 2021, after the close of markets on Wednesday, August 11.

The conference call will be open to listeners who log in through the Company's website, www.centrusenergy.com. A link to the call will be located in the Investor Relations section of the website, and a webcast replay will be available through August 22, 2021.

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

Contact:
Lindsey Geisler (301) 564-3392 or GeislerLR@centrusenergy.com

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SOURCE Centrus Energy Corp.

Alabama to Be Home to One of the First Large Scale Graphite Production Sites in the USA

Construction to Begin Later This Year

U.S. Government Has Declared Graphite Critical to National Security

CENTENNIAL, Colo., August 09, 2021–(BUSINESS WIRE)–Westwater Resources, Inc. (NYSE American: WWR), a battery graphite development company, will hold a conference call to discuss its financial results for the second quarter ended June 30, 2021, and developments at its Coosa Graphite Project. The call will be held on Thursday, August 12, 2021 at 11:00am EDT.

In addition to financial results, management will discuss recent events and progress at its Coosa Graphite Project and the significant milestones WWR has achieved. On June 22, 2021, management joined Alabama Gov. Kay Ivey and other state and local leaders at a press conference in Montgomery to announce the governor and local leaders signing of incentives agreements that will bring Westwater’s first-of-its kind, advanced graphite processing plant to the state.

DIAL-IN-NUMBER

• 1-800-319-4610 (USA and Canada)

• 1-604-638-5340 (International)

• Conference ID: Westwater Resources Conference call

Hosting the call will be Christopher M. Jones, President and Chief Executive Officer of Westwater Resources, who will be joined by Jeffrey L. Vigil, Vice President-Finance and Chief Financial Officer; Chad M. Potter, Chief Operating Officer and Dain A. McCoig, Vice President of Operations.

Mr. Jones will present an update on the Company’s business, as well as a special report and update on the Coosa Graphite Project. Mr. Vigil will review the financial results and financial condition of the Company. Mr. Potter and Mr. McCoig will be available for questions as part of the call.

The conference call presentation recording will also be available on the company’s website: www.westwaterresources.net

A replay of the call will be available on the company’s website for a limited time and by phone:

• 1-855-669-9658 (USA and Canada)

• 1-412-317-0088 (Internationally)

• Replay access code: 7387

The conference call presentation will also be available via a live web cast through the Company’s website, www.westwaterresources.net.

About Westwater Resources

Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the commencement of operations at the Company’s proposed processing plant facilities, future production of battery graphite products, future financing activities and financial resources, the benefits of the incentive package with the State of Alabama and local municipalities, the timing and content of the Definitive Feasibility Study on the Coosa Graphite Processing Facility, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a processing plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19; (e) operating conditions at the Company’s projects; (f) government regulation of the graphite industry and the vanadium industry; (g) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (h) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (i) the effect of inflation and supply chain disruptions on the anticipated cost to construct and commence operations at our planned processing plant; (j) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (k) currently pending or new litigation or arbitration; and (l) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210809005847/en/

Contacts

Westwater Resources

Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

/NOT FOR DISTRIBUTION TO THE UNITED STATES/

VANCOUVER, BC, Aug. 5, 2021 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce it has increased the final tranche of the non-brokered private placement financing as announced on July 30, 2021 to 13,316,089 units at a price of $0.16 per unit for total gross process of $2,130,574.24.

Each unit consists of one common share and one transferrable common share purchase warrant (the "Warrant"). Each Warrant in this 3^rd and final tranche will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.25 per share for two years from the date of issue, expiring on August 5, 2023.

There were no finder's fees payable in this 3^rd and final tranche. In total, cash finder's fees of $49,002.80 were paid and 306,268 Finder's Warrants were issued.

Certain insiders of the Company participated in the Private Placement for $7,200 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

The proceeds of the financing will be used for exploration programs on the Company's projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to this 3^rd and final tranche of the financing are subject to a four-month hold period expiring on December 5, 2021.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
______________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE Blue Sky Uranium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/05/c6951.html

TORONTO, Aug. 5, 2021 /CNW/ – Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended June 30, 2021. Both documents will be available on the Company's website at www.denisonmines.com or on SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. PDF Version

David Cates, President and CEO of Denison commented, "The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.

Thus far in 2021, our corporate team has bolstered our balance sheet with our recent financings and uranium purchases, consolidated a further 5% ownership in our flagship Wheeler River project through our acquisition of 50% of JCU, and completed the transition of Uranium Participation Corp. to the Sprott Physical Uranium Trust. On the technical side, in relation to our progress at Phoenix, we have reported several positive updates on ISR field testing activities, metallurgical studies in support of the ISR mining method, and the discovery of additional high-grade uranium in the area of our expected first mining phase. Taken together, we believe that Denison is well positioned to continue de-risking the use of the ISR mining method at Phoenix and ultimately compete with the incumbent uranium producers in the coming years when the market needs additional sources of production.

Our focus for the remainder of 2021 is expected to be in the field, where we plan to be active on both the evaluation and exploration front. Our evaluation team is preparing for full-scale pump and injection tests as well as ion tracer tests at Phoenix, making use of the commercial-scale 5-spot test pattern installed earlier this year. Our exploration team is also readying to resume drill testing of various target areas at Wheeler River and nearby properties that are prospective for the discovery of additional potentially ISR amenable uranium resources. With results from these programs expected through the third and fourth quarter, it is an exciting time for investors to follow both the uranium market and Denison's company-specific activities closely."

HIGHLIGHTS

• In-Situ Recovery ('ISR') field test activities at the Phoenix uranium deposit ('Phoenix') progress

A substantial portion of the ISR field test program has been successfully completed, including the installation of all five commercial-scale wells ('CSWs') and nine of eleven monitoring wells ('MWs') planned for the 5-spot test pattern (the 'Test Pattern') located in the Phase 1 area of Phoenix on the Company's Wheeler River Uranium Project ('Wheeler River' or the 'Project'). Based on the progress to date, multi-day pump and injection tests and ion tracer tests are planned to be initiated and completed on the full-scale Test Pattern during the third quarter.

• Discovered high-grade uranium outside of the Phoenix Zone A high-grade domain

Drill hole GWR-045 was completed as part of the ISR field test program to install MWs to the northwest of the CSW Test Pattern. Based on the mineral resources currently estimated for Phoenix, GWR-045 was expected to intersect low grade uranium mineralization on the northwest margin of the deposit, approximately 5 metres outside of the boundary of the Phoenix Zone A high-grade resource domain. The drill hole, however, intersected a thick interval of high-grade unconformity-associated uranium mineralization with grades of 22.0% eU₃O₈ over 8.6 metres. The intersection is presently open further to the northwest and represents an area for further exploration and potential mineral resource expansion of Phoenix.

• Decision to increase anticipated ISR mining head grade at Phoenix by 50%

Positive interim results, completed to date, from the ongoing metallurgical test program for the planned ISR mining operation at Phoenix have consistently supported uranium bearing solution ('UBS') head-grade for Phoenix well in excess of the 10 grams / Litre used in the Pre-Feasibility Study ("PFS") completed for Wheeler River in 2018. Accordingly, the Company has decided to adapt its plans for the remaining metallurgical test work, including the bench-scale tests of the unit operations of the proposed process plant, to reflect a 50% increase in the head-grade of UBS to be recovered from the well-field.

• Completed acquisition of 50% of JCU (Canada) Exploration Company, Limited ('JCU') for $20.5 million

In June 2021, Denison announced that it had entered into a binding agreement with UEX Corporation ('UEX') to acquire 50% of JCU from UEX for cash consideration of $20.5 million following UEX's acquisition of 100% of JCU from Overseas Uranium Resources Development Co., Ltd. for $41 million. Denison's acquisition of 50% of JCU was completed on August 3, 2021. JCU holds a portfolio of 12 uranium project joint venture interests in Canada, including a 10% interest in Wheeler River, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. ('Orano Canada') 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).

• Received $5.8 million in connection with conversion of Uranium Participation Corporation ('UPC') into the Sprott Physical Uranium Trust

In April 2021, UPC announced that it had reached an agreement with Sprott Asset Management LP ('Sprott') to convert UPC into the Sprott Physical Uranium Trust. Upon completion of this transaction on July 19, 2021, Sprott became the manager of the Sprott Physical Uranium Trust, and the management services agreement ('MSA') between Denison and UPC was terminated. In accordance with the terms of the MSA, Denison received a cash payment of approximately $5.8 million in connection with the termination.

About Wheeler River

Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan and is a joint venture between Denison and Denison's 50%-owned JCU (Canada) Exploration Company Limited. Denison is the operator of the project and holds an effective 95% ownership interest. The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, estimated to have combined Indicated Mineral Resources of 132.1 million pounds U₃O₈ (1,809,000 tonnes at an average grade of 3.3% U₃O₈), plus combined Inferred Mineral Resources of 3.0 million pounds U₃O₈ (82,000 tonnes at an average grade of 1.7% U₃O₈).

The PFS was completed in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U₃O₈ over a 14-year mine life, with a base case pre-tax net present value ('NPV') of $1.31 billion (8% discount rate), Internal Rate of Return ('IRR') of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U₃O₈. The PFS was prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.

Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Given the social, financial and market disruptions related to COVID-19, and certain fiscally prudent measures, Denison temporarily suspended certain activities at Wheeler River starting in April 2020, including the formal parts of the EA program, which is on the critical path to achieving the project development schedule outlined in the PFS Technical Report. While the formal EA process has resumed in early 2021, the Company is not currently able to estimate the impact to the project development schedule, outlined in the PFS Technical Report, and users are cautioned that certain of the estimates provided therein, particularly regarding the start of pre-production activities in 2021 and first production in 2024 should not be relied upon.

About Denison

Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces. Denison's common shares are listed on the Toronto Stock Exchange (the 'TSX') under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'.

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its flagship Wheeler River uranium project, Denison's interests in Saskatchewan include a 22.5% ownership interest in the McClean Lake Joint Venture ('MLJV'), which includes several uranium deposits and the McClean Lake uranium mill, which is contracted to process the ore from the Cigar Lake mine under a toll milling agreement (see RESULTS OF OPERATIONS below for more details), plus a 25.17% interest in the Midwest deposits and a 66.90% interest in the Tthe Heldeth Túé ('THT', formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. In addition, Denison has an extensive portfolio of exploration projects in the Athabasca Basin region.

Through its 50% ownership of JCU, Denison also holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).

Denison is engaged in mine decommissioning and environmental services through its Closed Mines group, which manages Denison's Elliot Lake reclamation projects and provides post-closure mine and maintenance services to a variety of industry and government clients.

Up until July 19, 2021, Denison also served as the manager of UPC. UPC was a publicly traded company listed on the TSX, which invested in uranium oxide in concentrates ('U₃O₈') and uranium hexafluoride ('UF₆'). In April, 2021, UPC announced that it had entered into an agreement with Sprott to convert UPC into the Sprott Physical Uranium Trust. This transaction closed on July 19, 2021, and the MSA between Denison and UPC was terminated.

Technical Disclosure and Qualified Person

The technical information contained in this press release has been reviewed and approved by David Bronkhorst, P.Eng, Denison's Vice President, Operations and/or Andrew Yackulic, P. Geo, Denison's Director, Exploration, each of whom is a Qualified Person in accordance with the requirements of NI 43-101.

Follow Denison on Twitter: @DenisonMinesCo

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained in this press release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this press release contains forward-looking information pertaining to the following: projections with respect to use of proceeds of recent financings; exploration, development and expansion plans and objectives, including the plans and objectives for Wheeler River and the related evaluation field program activities and exploration objectives; the plans for metallurgical test work; the impact of COVID-19 on Denison's operations; the estimates of Denison's mineral reserves and mineral resources or results of exploration; expectations regarding Denison's joint venture ownership interests; expectations regarding the continuity of its agreements with third parties; and its interpretations of, and expectations for, nuclear energy and uranium demand. Statements relating to 'mineral reserves' or 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the results and underlying assumptions and interpretations of the PFS as well as de-risking efforts such as the 2021 Field Program discussed herein may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to extend the EA and/or otherwise discontinue testing, evaluation and development work if it is unable to maintain or otherwise secure the necessary approvals or resources (such as testing facilities, capital funding, etc.). Denison believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 under the heading 'Risk Factors'. These factors are not, and should not be, construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Mineral Resources and Mineral Reserves: This press release may use terms such as "measured", "indicated" and/or "inferred" mineral resources and "proven" or "probable" mineral reserves, which are terms defined with reference to the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") CIM Definition Standards on Mineral Resources and Mineral Reserves ("CIM Standards"). The Company's descriptions of its projects using CIM Standards may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. . United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

View original content to download multimedia:https://www.prnewswire.com/news-releases/denison-reports-results-from-q2-2021-301349914.html

SOURCE Denison Mines Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/05/c0989.html

TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“CUR”, the “Company” or “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to provide the following update on the option agreement (the “Option Agreement”) with IsoEnergy Ltd. (“IsoEnergy”) (TSXV: ISO) that was originally announced on July 16, 2020, providing CUR with the option to acquire a 100% undivided interest in the Mountain Lake uranium project (“Mountain Lake” or the “Property”) located in Nunavut, Canada.

Following receipt of shareholder approval of the Option Agreement at the Company's annual and special meeting of shareholders held on June 29, 2021, the TSXV Venture Exchange (“TSXV”) conditionally approved the Option Agreement which has become effective as of August 3, 2021. As a result of the Option Agreement having been made effective and in accordance with the terms thereof, CUR will deliver initial consideration to IsoEnergy comprised of (i) 900,000 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $1.99 per share (being the five-day volume weighted average price (“VWAP”) of the Common Shares up to July 29, 2021, the second last trading day immediately prior to the effective date of the Option Agreement), and (ii) a cash payment of $20,000.

Terms of the Option Agreement

Under the terms of the Option Agreement, the option is exercisable at the Company’s election on or before the second anniversary of the effective date of the Option Agreement, upon payment of $1,000,000 payable in cash or Common Shares at a price per share equal to the five-day VWAP of the Common Shares up to the second last trading day prior to the exercise date of the option and reimbursement of certain expenditures incurred by IsoEnergy on the Property. If the Company elects to exercise its option acquire the Property, IsoEnergy will also be entitled to receive the following contingent payments (the “Contingent Payments”), payable in cash or Common Shares at the election of CUR:

• If the uranium spot price reaches USD$50, IsoEnergy will receive a one-time payment of $410,000;
• If the uranium spot price reaches USD$75, IsoEnergy will receive a one-time payment of $615,000; and
• If the uranium spot price reaches USD$100, IsoEnergy will receive a one-time payment of $820,000.

The obligation of CUR to make the Contingent Payments will expire 10 years following the date the option is exercised. In the event that the first Contingency Payment has been paid by CUR upon the uranium spot price reaching USD$50, IsoEnergy will have the one-time option to elect to receive $205,000 in lieu of, and not in addition to, each of the second and the third Contingent Payments for a total aggregate amount of $410,000. If elected by IsoEnergy, such $410,000 will be payable at CUR’s option in cash or Common Shares at a price per share equal to the five-day VWAP of the Common Shares up to the second last trading day prior to the dated that CUR receives notice of the election by IsoEnergy.

All securities issued in connection with the Option Agreement are subject to final approval of the TSXV and will be subject to a hold period expiring four months and one day from the applicable date of issuance.

About Consolidated Uranium Inc.

Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, the company has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina and the United States each with significant past expenditures and attractive characteristics for development. Most recently, the Company entered a transformational strategic acquisition agreement and alliance with Energy Fuels Inc (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, to acquire a portfolio of permitted, past-producing conventional uranium and vanadium mines in the Utah and Colorado. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning CUR as a near-term uranium producer.

Philip Williams
President and CEO
+1 778 383 3057
pwilliams@consolidateduranium.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information.

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the final approval of the Agreement by the TSX Venture Exchange and other activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

By Steven Ralston, CFA

OTC:DYLLF | ASX:DYL.AX

READ THE FULL DYLLF RESEARCH REPORT

The goal of Deep Yellow’s management is for the company to become a Tier I multi-jurisdictional uranium producer during the current uranium up-cycle. Management is pursuing activities that will support the completion of a DFS (Definitive Feasibility Study), including an objective of achieving a +20-year LOM operation, up from the 11 ½ years in the PFS.

The company has recently announced that the infill drilling at Tumas 3 has converted 117% of the existing Inferred Resource to the Indicated Resource category. In addition, Deep Yellow has submitted an EIA Scoping Report and filed a MLA (Mining License Application) with the Namibian Ministry of Mines and Energy (MME).

Several other highly significant milestones have been achieved over the last six months that support the EIA Scoping Report, MLA and the ongoing preparation of a DFS.

A multi-phase infill drilling program was completed over area of Tumas 3 (West, Central & East) which was comprised of a 17,679-meter campaign that consisted of 911 RC holes. The initial focus was on Tumas 3 East, and then the program moved to Tumas 3 Central & West. The infill drilling program targeted the lateral extensions of the Tumas 3 deposits. Drill holes were surveyed with down-hole radiometric gamma logging providing data to confirm grade continuity across the drilled areas, which is exemplified by the GT interval (grade x thickness) map below.

Estimated Mineral Resources of Tumas 3

The drilling program at Tumas 3 contributed to a significant upgrade of the company’s estimated resources. The Tumas 3 deposit now has estimated Indicated & Inferred Resources of 59.9 million lbs. U₃0₈ grading at 308ppm uranium, of which 54.9 million lbs. is classified as Indicated at 320ppm uranium. The infill drilling program upgraded 117% of prior existing Inferred Resources to the Indicated category.

Estimated Measured and Indicated Mineral Resources of Tumas Project (1, 2 & 3)

Consequently, Total Measured and Indicated Resources for Tumas Project (Tumas 1, Tumas 2 & Tumas 3 deposits) have been upgraded in quality through the recent infill drilling program. The estimated Tumas resource base now estimated to be 79.1 million lbs. U₃0₈ at 271ppm, up 508% from the estimated Measured & Indicated Resources of 13.0 million lbs. U₃0₈ in October 2016 (when the current management took charge).

Total Estimated Mineral Resources of Tumas Project (1, 2 & 3)

The Tumas palaeo-channel system continues to be highly prospective and is management’s major focus within the Reptile Project, along with the channel’s continuation to the Tumas deposit and beyond to the west. Through exploration activities and drilling campaigns, the estimated total resources (Measured, Indicated and Inferred) at the Tumas 1, 2 and 3 deposits have increased 756% from 13.3 million lbs. U₃0₈ in 2016 (when the current management took charge) to 113.9 million lbs. U₃0₈ today.

Total Estimated Mineral Resources of Deep Yellow

Since 2016 (when current management took charge), the company’s exploration campaigns have increased its estimated Total Resources (Measured, Indicated & Inferred) by 109% from 93.8 million lbs. U₃0₈ in 2016 to 195.8 million lbs. U₃0₈ in July 2021. Importantly, infill drilling programs have increased Indicated Resources by 196% through the discovery of additional Indicated Resources and the conversion of Inferred Resources to the Indicated category.

Only 60% of the known palaeochannel system has been drilled. An additional 50 kilometers remains to be tested. The expanded resource base is expected to help support management’s 20-year LOM target.

Definitive Feasibility Study (DFS)

The DFS for the Tumas Project is progressing as work continues on the economic feasibility of mining the calcrete-associated palaeochannel uranium deposits, pit optimization studies and additional metallurgical optimization test work. Results of these trade-off and optimization studies are expected to be announced periodically during the second half of 2021.

Environmental Impact Assessment

Baseline studies on groundwater, radiological, air quality, and flora & fauna conditions were completed for the Environmental Impact Assessment (EIA) during the first half of 2021. Thereafter, the EIA Scoping Report for the Tumas Project was delivered to the relevant agencies of the Namibian Government on July 15, 2021. The submission (and approval) of an EIA is required before the Environmental Commissioner can issue an Environmental Clearance Certificate (ECC), which is a requirement for a Mining License.

Mining License

On July 21, 2021, Deep Yellow filed a Project Mining License Application with the Namibian Ministry of Mines and Energy (MME) for the Tumas Project area. As part of the process, the MME will require submission of the DFS on the Tumas Project, an Environmental Impact Assessment (EIA) and an Environmental Management Plan (EMP). Once an Environmental Clearance Certificate (ECC) is granted by the Ministry of Environment, Forestry and Tourism, Mining License (MLA 237) can be granted by the MME. The process is expected to require 18 months to complete.

Effective May 27, 2021, Deep Yellow Limited was added to the MSCI (Morgan Stanley Capital International) Global Market Cap Index as part of MSCI’s semi-annual rebalancing procedure. Consequently, Deep Yellow was also added to the Australia Micro-Cap Index. Many professional portfolio managers and mutual funds benchmark to these indices. 95 of the world’s 100 largest money managers are clients of MSCI’s indices database and analytics. Consequently, the shareholder base of Deep Yellow should broaden, and the stock should experience greater liquidity. In addition, the inclusion of the company’s stock into these two indices should expand awareness of Deep Yellow among investors, both retail and institutional.

Deep Yellow has achieved a series of highly significant milestones during calendar 2021.

1) In February 2021, a positive Pre-Feasibility Study (PFS) was completed on the Tumas Project, aka the Reptile Project, including a Maiden Reserve for the Project

2) Work on the Definitive Feasibility Study commenced in February 2021 with an expected completion date by the end of calendar 2022

a. A multi-phase drilling program is focused on

i. converting Inferred Resources to Indicated Resource JORC status

ii. defining the boundaries of the Tumas 3 deposit, a generally east-west trending, calcrete-type palaeochannel system

iii. expanding the Life of Mine (LOM) from 11.5 years (defined by the PFS) to at least 20 years in the upcoming DFS with an anticipated annual production rate of approximately 3.0 million pounds

b. 17,679-meter infill drilling program consisting of 911 RC holes at Tumas 3 completed

i. Phase 1: 6,987-meter infill drilling program consisting of 445 RC holes at Tumas 3 East was completed on April 28, 2021

ii. Phase 2a: 7,634-meter infill drilling program at Tumas 3 Central consisting of 359 RC holes was completed on May 27, 2021

iii. Phase 2b: 3.058-meter infill drilling program at Tumas 3 West consisting of 107 RC holes was completed on June 18, 2021

c. An intermediate, updated Mineral Resource Estimate for Tumas 3 was announced on July 29, 2021.

i. 2021 infill drilling program at Tumas 3 converted 117% of the existing Inferred Resource to the Indicated Resource category

ii. an additional 5.7 million pounds of Indicated Mineral Resources were identified from peripheral zones

iii. total Indicated Resource now estimated to be 54.9 million pounds eU3O8 (at 320 ppm) versus prior estimate of 28.4 million pounds (at 299ppm)

d. Currently, a RC drilling program at Tumas 1 East is in process

3) NOVA JV

a. 3,213-meter drilling campaign at the Barking Gecko Project completed on March 30, 2021

i. Two highly prospective zones identified

1. Barking Gecko North: 2 km by 1 km (open to the east, SE and at depth)

2. Barking Gecko South: 4 km by 0.5 km (open to the NW and SE)

b. Deep Yellow, JOGMEC and Toro agreed to a 12-month program with a budget of AUD$1.1 million.

i. Phase 1: 14-hole, 3,500-meter RC drilling program ($580,000) to follow up on the encouraging results above. Drilling commenced on July 12^th and is expected to be completed in August.

4) Successful completion of financings to fund management’s dual-pillar growth strategy, namely advancing the Tumas Project to production and becoming a multi-jurisdictional producer

a. The completion of a AUD$ 40.8 million private placement (62,768,803 ordinary shares at AUD$0.65 per share) in February 2021

b. An oversubscribed Share Purchase Plan was completed in late March 2021. Gross proceeds were approximately AUD$2.00 million

c. In June 2022, options exercisable at $0.50 expired. The exercise of some of these options provided approximately AUD$3.28 million

d. As of June 30, 2021, the company’s cash balance was AUD52.4 million (US$ 38.5 million) compared to AUD$51.3 million as of March 31, 2021.

e. The net proceeds plus cash on hand will be utilized

i. to fund drilling programs

ii. to complete the DFS on the Tumas Project

iii. to pursue acquisitions/ mergers

We expect that management will deliver on its plan to become a tier-one uranium producer with an annual operating capacity of 5-to-10 million lbs. of U308, both through organic growth by means of developing its Namibian projects and through acquiring and developing additional uranium projects located in other jurisdictions.

Valuation

Broadly speaking, the public uranium companies can be grouped into three segments: producers, development companies and exploration companies. Producers are actively mining and generating revenues. Exploration companies are prospecting and/or drilling to establish mineral resources. In between these two segments are the development companies that already have established resources and are advancing through the process to bring a mine in operation, generally from the point of initiating a Pre-Feasibility Study to the actual construction of a mine. The comparable companies to Deep Yellow fall into this category.

Further, the comparable companies have been narrowed through quantitative factors, particularly those with a market capitalization over $100 million and trading above $0.30 per share. This process captures a range of well-funded junior uranium development companies. Currently, the P/B valuation range of these comparable companies is between 0.9 and 8.9. With the expectation that Deep Yellow’s stock will attain a mid-second quartile P/B ratio of 6.09, our comparable analysis valuation price target is US$1.29.

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TORONTO, Aug. 4, 2021 /CNW/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to report positive interim results from the ongoing metallurgical test program for the planned In-Situ Recovery ("ISR") mining operation at the Phoenix uranium deposit ("Phoenix"), located on the Company's 90% owned Wheeler River Uranium Project ("Wheeler River" or the "Project"). Test work completed to date, has consistently supported an ISR mining uranium head-grade for Phoenix in excess of the 10 grams / Litre ("g/L") assumed in the Pre-Feasibility Study ("PFS") completed for Wheeler River in 2018. Accordingly, the Company has decided to adapt its plans for the remaining metallurgical test work, including the bench-scale tests of the unit operations of the proposed process plant, to reflect a 50% increase in the head-grade of uranium bearing solution ("UBS") to be recovered from the well-field. View PDF version.

David Bronkhorst, Denison's Vice President Operations, commented, "The metallurgical testing completed to date demonstrates that uranium can be consistently recovered from Phoenix cores at levels significantly higher than the 10 g/L extraction rate used in the PFS – giving rise to a decision to adapt future unit operation metallurgical tests to use a UBS head-grade of 15 g/L.

A 50% increase in head-grade is expected to translate into meaningful optimization of previously estimated operating parameters and processing plant designs while maintaining the same level of annual uranium production – with the potential to reduce operating costs related to on-surface processing activities, and initial capital costs associated with the processing plant."

Phoenix is expected to be mined in several phases, with Phase 1 estimated to contain 22.2 million pounds U₃O₈ (37,242 tonnes at 27.1% U₃O₈, above a cut-off grade of 0.8% U₃O₈) in Probable mineral reserves (see Press Release dated December 1, 2020). Accordingly, the sample selection for recent metallurgical test work has favored samples representative of the mineralization in Phase 1, to allow for a greater understanding of optimal leaching conditions required in the area where first production is expected.

Core Leach Test Results

Three core samples, representing the high-grade/low-clay characteristics of the majority of the mineralization in the Phase 1 mining area, have been tested to date, with results summarized below in Table 1 – showing steady-state and average UBS head grades significantly above the 10g/L level used in the PFS.

In addition to the high-grade/low clay characteristics of Phase 1, the Phoenix ISR operation is also expected to encounter comparatively rare and isolated areas with lower uranium grades and high clay content, which is expected to result in a limited number of zones of reduced permeability. In order to understand the ISR leach dynamics in these areas, test work was also initiated on samples presenting high clay characteristics (above 25% clay). Results obtained from these tests confirm that high clay content can impact the natural permeability of the ore body and lead to lower UBS head-grades. Importantly, these tests also confirm that permeability enhancement techniques have the potential to normalize these areas and significantly improve UBS head-grade concentrations to levels that align with core leach tests carried out using samples with higher grades and lower clay content.

As outlined in Table 2, below, sample 2A failed to produce an acceptable "steady-state" UBS head grade. Sample 2B was taken from the same drill hole and presented similar mineralogical characteristics as Sample 2A; however, Sample 2B was modified to simulate the MaxPERF permeability enhancement tool. As is evident from the achievement of a peak UBS head-grade of 76 g/L and an average UBS head-grade of 24.9 g/L obtained over 28 days of steady state, the preliminary leaching results from Sample 2B confirm both the utility of permeability enhancement in normalizing the natural permeability in high clay zones and the appropriateness of the decision to increase the overall UBS head-grade assumption for Phoenix.

Column Leach Tests

Various column leach tests have recently been completed using core samples from Phoenix. The primary purpose of the column leach tests was to recover sufficient volumes of UBS to facilitate bench-scale tests of the unit operations outlined in the flowsheet for the Phoenix processing plant. Over 900 litres of UBS were produced from 64 Kilograms ("kg") of Phoenix core samples. Combined results from the four column leach tests are highly positive, with calculated UBS head-grade from the four columns averaging 19g/L, which further supports the decision to increase the overall UBS head-grade assumption for Phoenix.

While not the primary purpose of the column leach tests, average reagent addition rates from the column leach tests (1.3 kg acid / kg U₃O₈ and 1.2 kg oxidant / kg U₃O₈) have also provided useful information that is supportive of the values published in the PFS.

The laboratory work for the 2021 Metallurgical Program is being carried out at the Saskatchewan Research Council ("SRC") Mineral Processing and Geoanalytical Laboratories, in Saskatoon, under the supervision of Mr. Chuck Edwards (P.Eng., FCIM).

About Phoenix Phase 1

Phase 1 of Phoenix is estimated to contain approximately 22.2 million pounds U₃O₈ (37,242 tonnes at 27.1% U₃O₈, above a cut-off grade of 0.8% U₃O₈) in Probable mineral reserves. Based on current designs, the Company estimates approximately 6.6 million pounds U₃O₈ (7,717 tonnes at 39.2% U₃O₈, above a cut-off grade of 0.8% U₃O₈) in Probable mineral reserves are contained within the expected operating perimeter of the Test Pattern (see Figure 1). These estimates are derived as a direct subset of those reported in the Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018 (the "PFS Report"). The key assumptions, parameters and methods used to estimate the mineral reserves herein remain unchanged.

About Wheeler River

Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan – including combined Indicated Mineral Resources of 132.1 million pounds U₃O₈ (1,809,000 tonnes at an average grade of 3.3% U₃O₈), plus combined Inferred Mineral Resources of 3.0 million pounds U₃O₈ (82,000 tonnes at an average grade of 1.7% U₃O₈). The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, and is a joint venture between Denison (90% and operator) and JCU (Canada) Exploration Company Limited (10%).

A PFS was completed for Wheeler River in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U₃O₈ over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U₃O₈. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.

Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the PFS Report. A copy of the PFS report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Denison suspended certain activities at Wheeler River during 2020, including the EA process, which is on the critical path to achieving the project development schedule outlined in the PFS. While the EA process has resumed, the Company is not currently able to estimate the impact to the project development schedule outlined in the PFS, and users are cautioned against relying on the estimates provided therein regarding the start of pre-production activities in 2021 and first production in 2024.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest Main, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), Denison also holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Qualified Persons

The technical information contained in this release has been reviewed and approved by Mr. David Bronkhorst, P.Eng, Denison's Vice President, Operations, who is a Qualified Person in accordance with the requirements of NI 43-101.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the planned scope, elements, and objectives of the 2021 ISR field programs, including the results of the column leach tests, including head grade and reagent usage results and estimates; other evaluation activities, including plans for future lixiviant tests and those activities connected with the EA process; the results of the PFS and expectations with respect thereto; expectations with respect to phased development, and the estimates of reserves in each such phase; other development and expansion plans and objectives, including plans for a feasibility study; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the modelling and assumptions upon which the work plans are based may not be maintained after further testing or be representative of actual conditions within the Phoenix deposit. In addition, Denison may decide or otherwise be required to discontinue its field test activities or other testing, evaluation and development work at Wheeler River if it is unable to maintain or otherwise secure the necessary resources (such as testing facilities, capital funding, regulatory approvals, etc.) or operations are otherwise affected by COVID-19 and its potentially far-reaching impacts. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 or subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources and Probable Mineral Reserves: This press release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that while such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ('NI 43-101') and are recognized and required by Canadian regulations, these terms are not defined under Industry Guide 7 under the United States Securities Act and, until recently, have not been permitted to be used in reports and registration statements filed with the United States Securities and Exchange Commission ('SEC'). 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. In addition, the terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" for the purposes of NI 43-101 differ from the definitions and allowable usage in Industry Guide 7. Effective February 2019, the SEC adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act and as a result, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding definitions under the CIM Standards, as required under NI 43-101. However, information regarding mineral resources or mineral reserves in Denison's disclosure may not be comparable to similar

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NEW YORK, Aug. 3, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

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TORONTO, Aug. 3, 2021 /PRNewswire/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce the completion of its acquisition of 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), from UEX Corporation ("UEX"), for cash consideration of $20.5 million. Denison's acquisition of a 50% interest in JCU occurred immediately following UEX's acquisition of all the outstanding shares of JCU from Overseas Uranium Resources Development Co., Ltd. ("OURD") for cash consideration of $41 million. View PDF version

David Cates, President and CEO of Denison, commented, "Denison is pleased to have acquired a 50% interest in JCU – which holds a unique and valuable portfolio of strategic Canadian uranium interests, including a 10% interest in Denison's flagship Wheeler River project. We believe there is considerable value in JCU's portfolio of assets and that this transaction is highly accretive for Denison shareholders.

In addition to consolidating an effective 95% interest in Wheeler River, this acquisition expands Denison's leading Athabasca Basin development portfolio to include additional important Canadian uranium development projects such as Millennium and Kiggavik."

JCU's Project Portfolio

JCU holds a portfolio of twelve uranium project joint venture interests in Canada, including a 10% interest in Denison's 90% owned Wheeler River project, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).

Term Loan to UEX

Pursuant to Denison's agreement with UEX (see press release dated June 15, 2021), Denison provided UEX with an interest-free 90-day term loan of $40.95 million (the "Term Loan") to facilitate UEX's purchase of JCU from OURD. On the transfer of 50% of the shares in JCU from UEX to Denison, $20.5 million of the amount drawn under the Term Loan was deemed repaid by UEX. Accordingly, UEX has currently drawn $20.45 million under the Term Loan, which is due to Denison by November 1, 2021.

UEX may extend the Term Loan maturity by an additional 90 days (to January 30, 2022), in which case interest will be charged at a rate of 4% from the date of the initial advance under the Term Loan (August 3, 2021) until maturity. All of the shares of JCU owned by UEX will be held by Denison as security against the Term Loan pursuant to a pledge agreement until the Term Loan is repaid in full. The Term Loan is subject to certain customary terms and conditions and contains standard events of default that protect Denison.

Further details of the terms of the transaction are described in Denison's June 15, 2021 press release and under Denison's profile at www.sedar.com and www.sec.gov/edgar.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest Main, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), Denison also holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the terms of the Term Loan, including the conditions and other rights and obligations of the parties; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable and no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in the Annual Information Form dated March 26, 2021 under the heading "Risk Factors". These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

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SOURCE Denison Mines Corp.

LITTLETON, CO / ACCESSWIRE / August 3, 2021 /Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") has filed the Company's Form 10-Q for the quarter ended June 30, 2021, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and with Canadian securities authorities at www.sedar.com.

Ur-Energy Chairman and CEO, Jeff Klenda said, "We are pleased to announce our results from the first half of 2021. We ended the period with more than $20 million in cash and 285,000 pounds U.S. produced U₃O₈ in inventory at the conversion facility. We continued to advance regulatory approvals at both our Lost Creek Property and Shirley Basin Project. Having received all remaining major approvals for Shirley Basin during Q2, our second uranium project in Wyoming now stands construction ready. The approvals also mean that we have effectively doubled the Company's licensed and permitted production capacity.

"As we recognize the eighth anniversary of operations at Lost Creek, we are encouraged by positive catalysts and increased investor interest in the uranium market, which in time should allow us to ramp up to full production again. While our first priority in ramp up will be to recover the remaining uranium resources in the existing two mine units at Lost Creek, the recent and anticipated regulatory approvals for recovery at the adjacent LC East project will allow us to subsequently expand our planned production into several additional mine units.

"We remain grateful for our dedicated operations and technical staff as they continue to optimize all operational aspects of Lost Creek. Lost Creek is an exceptional property and we are fortunate to have an experienced and professional team ready to ensure the most efficient return to full production operations when conditions warrant."

Financial Results
As of June 30, 2021, we had cash resources consisting of cash and cash equivalents of $21.5 million.

In addition to our cash position, our finished, ready-to-sell, conversion facility inventory value is immediately realizable, if necessary. We do not anticipate selling our existing finished-product inventory in 2021, unless market conditions change sufficiently to warrant its sale.

During the quarter, we received notifications that the principal amount of $893 thousand and accrued interest of approximately $10 thousand were forgiven under the terms of the Small Business Administration Paycheck Protection Program. This was treated as a forgiveness of debt on the Consolidated Statements of Operations for the three-months ended June 30, 2021 and a $903 thousand gain on debt forgiveness was recognized in other income.

Lost Creek Operations
Lost Creek continues to operate at reduced production levels while we await the implementation of the national uranium reserve, further relief pursuant to the recommendations of the United States Nuclear Fuel Working Group (the "Working Group") and additional positive developments in the uranium markets. The reduced production operations have allowed us to sustain operating cost reductions at Lost Creek, while continuing to conduct preventative maintenance and optimize processes in preparation for ramp up to full production rates. These preparations include advanced planning for anticipated drilling and production well installation in our fully permitted Mine Unit 2 ("MU2").

The Wyoming Uranium Recovery Program has approved an amendment to the Lost Creek source material license to include recovery from the uranium resource in the LC East Project (HJ and KM horizons) immediately adjacent to the Lost Creek Project. This license approval grants the Company access to six planned mine units in addition to the already licensed three mine units at Lost Creek. The approval also increases the license limit for annual plant production to 2.2 million pounds U₃O₈ which includes wellfield production of up to 1.2 million pounds U₃O₈ and toll processing up to one million pounds U₃O₈.

The Wyoming Department of Environmental Quality, Land Quality Division, continues its review of the application for amendment to the Lost Creek permit to mine which will add the LC East and KM mine units. We anticipate that the Land Quality Division review will be complete in 2021.

Shirley Basin Project
During Q2 the State of Wyoming and the EPA completed their respective reviews of our Shirley Basin Project and issued the source material license, permit to mine, and aquifer exemption for the project. These three approvals represent the final major permits required to begin construction of the Shirley Basin Project.

The Company plans three relatively shallow mining units at the project, where we have the option to build out a complete processing plant with drying facilities or a satellite plant with the ability to send loaded ion exchange resin to Lost Creek for processing. As approved, the Shirley Basin processing facility is allowed to recover up to one million pounds U₃O₈ annually from the wellfield. The annual production of U₃O₈ from wellfield production and toll processing of loaded resin or yellowcake slurry will not exceed two million pounds equivalent of dried U₃O₈ product.

Situated in an historic mining district, the project has existing access roads, power, waste disposal facility and shop buildings onsite. Because delineation and exploration drilling were completed historically, the project is construction ready. All wellfield, pipeline and header house layouts are finalized and additional, minor on-the-ground preparations have been initiated in 2021 Q3.

2021 Continuing Guidance
International recognition of nuclear power's role in achieving net-zero carbon emissions goals has resulted in a renewed interest in the uranium sector in 2021. The Paris Climate Agreement calls for net-zero carbon emissions by 2050 and the U.S. has rejoined the agreement under the Biden Administration, which continues to demonstrate support for the nuclear industry.

Our current cash position as of July 28, 2021, is $20.8 million. In addition to our strong cash position, we have nearly 285,000 pounds of finished, U.S. produced inventory, worth $9.2 million at recent spot prices. Our financial position provides us with adequate funds to maintain and enhance operational readiness at Lost Creek, as well as preserve our existing inventory for higher prices.

Our long-tenured operational and professional staff have significant levels of experience and adaptability which will allow for an easier transition back to full operations. Lost Creek operations can increase to full production rates in as little as six months following a go decision, simply by developing additional header houses within the fully permitted MU2. Development expenses during this six-month ramp up period are estimated to be approximately $14 million and are almost entirely related to MU2 drilling and header house construction costs. We are prepared to ramp up and to deliver our Lost Creek production inventory to the new national uranium reserve.

Additionally, with all major permits and authorizations for our Shirley Basin Project now in hand, we stand ready to construct at the mine site when market conditions warrant. We estimate up to nine years production at the project based upon the mineral resources reported in the Shirley Basin Preliminary Economic Assessment.

We will continue to closely monitor the uranium market and any actions or remedies resulting from the Working Group's report, the implementation of the uranium reserve program, or any further legislative actions, which may positively impact the uranium production industry. Until such time, we will continue to minimize costs and maximize the ‘runway' to maintain our current operations and the operational readiness needed to ramp up production when called upon.

About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged, and shipped approximately 2.6 million pounds U₃O₈ from Lost Creek since the commencement of operations. Ur-Energy now has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur‑Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy's common shares is on the NYSE American under the symbol "URG." Ur‑Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.

FOR FURTHER INFORMATION, PLEASE CONTACT
Jeffrey Klenda, Chairman & CEO
866-981-4588
Jeff.Klenda@Ur-Energy.com

Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., our ability to control production operations at lower levels at Lost Creek in a safe and compliant manner; ability and timing to receive remaining permits and authorizations related to our LC East project; the timing to determine future development and construction priorities for Lost Creek and Shirley Basin, and the ability to readily ramp up and transition in a timely and cost-effective manner to full production operations when conditions warrant; the life of mine, costs and production results for Lost Creek and Shirley Basin; the ability of the Biden Administration to advance its clean energy agenda, its timing and whether meaningful changes for nuclear power may positively affect the domestic uranium recovery industry; the timing and program details for establishment of the new national uranium reserve, and our role in the reserve program; further implementation of recommendations from the U.S. Nuclear Fuel Working Group, including the timeline and scope of proposed remedies and related budget appropriations processes; and whether our financing activities and cost-savings measures which we have implemented will be sufficient to support our operations and for what period of time, including whether we will sell our current inventory during 2021) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic, technical and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," or "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; fluctuations in commodity prices; failure to establish estimated resources; the grade and recovery of mineral resources which are mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in regulatory and legislative requirements; inflation; changes in exchange rates; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.

SOURCE: Ur-Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/657728/Ur-Energy-Releases-2021-Q2-Results

Vancouver, British Columbia–(Newsfile Corp. – August 3, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that the Company has completed a diamond drilling program at its Firebird Nickel Project ("Firebird") located near the town of Stony Rapids in northern Saskatchewan. The drilling program was fully-funded by ALX's exploration partner Rio Tinto Exploration Canada Inc. ("Rio Tinto") with ALX as operator. The summer 2021 drilling program encountered sulphides in an area that has never previously been drill-tested, providing a proof of concept for exploration at Firebird.

Firebird 2021 Exploration Program

The helicopter-assisted drilling program began in the third week of June 2021 on the first of four high-priority targets. Ground geophysical surveys were carried out on three targets to improve the definition of the conductive anomalies detected in a 2020 airborne survey. A total of 739.5 metres was completed in four diamond drill holes (see map below).

Sulphide mineralization was intersected at shallow depths in three of the four completed drill holes (see summary table below), with up to 55% sulphides estimated in hole FIRE-003 from the interval at 71.85 metres to 72.63 metres. When logging the drill core, a portable X-ray fluorescence device was used to confirm the presence of nickel and copper, however, absolute geochemical values cannot be reliably estimated and consequently are not reported at this time. Drill core is being shipped for analysis to ALS Global Geochemistry Analytical Lab in North Vancouver, BC, Canada. Results are expected later in August 2021 and will be released by the Company after their receipt, compilation and interpretation.

Summary of Firebird 2021 Drill Holes

* True widths of mineralized zones are not yet known

Example of sulphides at 80.45 metres intersected in hole FIRE-003

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3046/91784_8525ff4c449bab5d_001full.jpg

The Firebird 2021 exploration program began during the first week of June with a ground-truthing program of geophysical anomalies that were detected in the airborne VTEM™ Max survey completed in October 2020 (see ALX news release dated November 9, 2020, "ALX Resources Corp. and Rio Tinto Locate Airborne EM Anomalies at the Firebird Nickel Project"). The 2021 drilling program that followed faced a number of challenges, including mechanical difficulties and extreme heat that impacted drilling efficiency. All drill holes received downhole electromagnetic surveys after their completion to better define the targeted geophysical anomalies, which resulted in a reset of hole FIRE-002, having undercut the targeted conductor. The fourth target area, Currie Lake West, was not tested in this program due to the pending unavailability of the helicopter and drill.

Click on the highlighted link to view maps and pictures of ALX's exploration activities at the Firebird Nickel Project

About the Firebird Nickel Project

ALX owns 100% of Firebird, subject to 2.0% net smelter returns royalties on certain claims acquired from arm's-length vendors to the Company. ALX acquired its first claims at Firebird during a staking rush in May 2019. Additional land purchases and acquisitions by staking in 2019 and 2020 has increased the size of the Project to approximately 20,491 hectares (50,635 acres). Mobilization of equipment and personnel is achieved from the town of Stony Rapids, SK, located approximately 18 kilometres (11 miles) by air from the centre of the Project. Stony Rapids is connected to the Saskatchewan provincial road system by all-weather Highway 905 and has a fully-serviced airport to support both fixed-wing aircraft and helicopters.

Firebird is currently the subject of an option agreement whereby Rio Tinto Exploration Canada Inc. ("Rio Tinto") can earn up to an 80% interest in Firebird by incurring exploration expenditures of $12.0 million over a six-year period and by making a total of $125,000 in cash payments to the Company (see ALX news release dated August 24, 2020, "ALX Resources Corp. Announces Earn-In for the Falcon Nickel Project").

The 2020 airborne survey successfully delineated several new anomalous zones of strong conductivity in the northern part of Firebird where no modern airborne survey had ever been flown and high-grade nickel is present on surface. For example, in July 2020 ALX sampled up to 2.43% nickel in surface grab sampling in the Wiley Lake target area and up to 1.31% nickel in outcrop drilling using a portable backpack drill (see ALX news release dated July 27, 2020, "ALX Resources Corp. Samples up to 2.43% Nickel and 8.34 Grams/Tonne Gold in the Northern Athabasca Region, Saskatchewan"). ALX and Rio Tinto personnel subsequently identified high-priority anomalies from the VTEM™ survey results based on their strong conductivity and coincident high magnetic responses, which suggested the presence of sulphides, and subsequently developed drill targets for the summer of 2021.

National Instrument 43-101 Disclosure

Quality Assurance/Quality Control ("QA/QC")

A QA/QC following industry best practices was incorporated into the drill core sampling and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately 10%. All drill core samples were collected as half-split core, apart from quarter-split duplicates.

All samples are shipped by ground to ALS Global Geochemistry Analytical Lab ("ALS") in North Vancouver, BC, Canada, for multi-element analysis. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of ALX and its Qualified Person.

Mafic intrusive and mineralized samples are to be analyzed using ALS's super trace multi-element complete characterization package. This includes determination of major oxides by fused bead preparation with ICP-ES determination, C and S by combustion furnace, Au-Pd-Pt by 30 gram lead fire assay with ICP-MS determination, resistate elements by lithium borate fusion with ICP-MS determination, aqua regia digest ICP-MS determination for volatile trace elements, and 4-acid digest ICP-MS determination for base metals. Overlimits for Pd and Pt (>1 ppm) will be analyzed via PGM-ICP27. Overlimits for Au (>1 ppm) will be analyzed via Au-AA25. Overlimits for Ni and Cu (>1%) and S (>5%) will be analyzed via ME-ICP81 for all elements.

Barren country rock samples are to be analyzed using ALS's super trace multi-element 4 acid digest with ICP-MS determination for 51 elements plus Au-Pt-Pd by 30 gram lead bead fire assay ICP-MS determination and pXRF determination for 7 resistate elements (Cr, Nb, Si, Ta, Ti, Y, Zr).

The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickel, copper, and uranium projects. The Company uses the latest exploration technologies and holds interests in over 200,000 hectares of prospective lands in Saskatchewan and Ontario, stable Canadian jurisdictions that collectively host the highest-grade uranium mines in the world and offer a significant legacy of production from gold and base metals mines.

ALX owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Vixen Gold Project, the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Draco VMS Project in Norway. ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the prolific Patterson Lake Corridor, with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project, a joint venture with UEX Corporation and Orano Canada Inc., and a 100% interest in the Gibbons Creek Uranium Project.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include references to ALX's exploration projects, their prospectivity for minerals, and the Company's plans to undertake exploration activities at its projects. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at its projects, including drilling; initial findings at its projects may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at its projects; and economic, competitive, governmental, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if nickel, gold or other metals or minerals are discovered in quantity, the projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Three Months Ended March 31, 2021, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91784

Niche Companies in Technology, Cybersecurity, Exploration & Mining, and more in Attendance

MIAMI, Aug. 03, 2021 (GLOBE NEWSWIRE) — EmergingGrowth.com a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth Companies and Markets announces the Schedule of the 13^th Emerging Growth Conference.

The Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

Register for the conference here.

The schedule for August 4, 2021, is as follows:

(All times are Eastern Time Zone)

We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC

9:40 – 9:45
Welcome to the Emerging Growth Conference.
Ana Berry

9:45 – 10:30
Bannerman Energy Ltd. (OTCQB: BNNLF), (ASX: BMN)
Brandon Munro, CEO

10:30 – 11:00
Lomiko Metals Inc. (OTCQB: LMRMF), (TSX-V: LMR)
A. Paul Gill, CEO

11:00 – 11:30
GlobeX Data Ltd. (OTCQB: SWISF), (CSE: SWIS)
Alain Ghiai, Founder and CEO

11:30 – 12:00
Third Bench Holdings (OTC Pink: NECA)
David Fair Founding Partner / CEO

12:00 – 12:30
Foothills Exploration, Inc. (OTC: FTXP)
Kevin Sylla, Executive Chairman

12:30 – 1:00
Doubleview Gold Corp. (OTC Pink: DBLVF), (TSX-V: DBG)
Farshad Shirvani, President / CEO

All interested in attending should visit the following link to register. You will then receive an email containing the link and time to sign into the conference.

Register for the conference here.

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Founded in 2009, Emerging Growth.com quickly became a leading independent small cap media portal. Over the years, it has developed an extensive history of providing unparalleled content, in identifying emerging growth companies and markets that can be overlooked by the investment community.

The next step in its evolution is the Emerging Growth Conference.

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The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in an effective and time efficient manner.

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All sessions will be conducted through video webcasts and will take place in the Eastern time zone. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.

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Vancouver, British Columbia–(Newsfile Corp. – August 3, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx or the Company") is pleased to announce the positive results from the recent geophysics program completed on the Company's Falea polymetallic project in Mali (the "Falea Project").

• A large, chargeable body highlighted underneath the Falea deposit, which is over 2 km in length, and 500 m wide on the Falea tenement.

• Potential for chargeable body in the northeast area of the Bala license and the IP program highlights the much shallower depth to basement and associated unconformity.

• The Falea and Bala areas are highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

The Falea Project consists of three Exploration Permits; Falea, Bala and Madini. The Falea polymetallic deposit, containing uranium, copper, silver and gold, has been defined at or near the unconformity between the Taoudeni basal sediments and the underlying metamorphic rocks of the Birimian aged sequences by extensive drilling that stopped only a few metres beyond the ore body within the Birimian rocks.

It is believed that the Falea deposit results from mineralising fluids intruded via the faults in the area to deposit suitable trap sites at the unconformity with the overlying rocks (Figure 1). Historical drilling programmes have not tested the presence of mineralised bodies below the unconformity within the Birimian.

"The Falea Project already contains an indicated resource containing 17.4Mlb U3O8, 24.4 Mlb copper and 16.1 Mlb silver, and an inferred resources 13.4Mlb U3O8 also with copper and silver mineralisation.⁽¹⁾ A drill core assay program, in 2020, also highlighted gold mineralisation associated with the faulting.⁽²⁾⁽³⁾ This IP survey clearly highlights the exploration potential for the Falea Project both for further unconformity based targets and deeper chargeability targets with uranium, copper, silver and gold mineralisation achievable," noted Govind Friedland, executive Chairman.

The IP and resistivity surveys completed in 2020 and 2021, by Terratec Geophysical Services, from Germany, were aimed at identifying the fault structures and the presence of chargeable bodies, which can be a proxy for the presence of mineralised bodies below the unconformity. A total of 245-line km were covered over 27 blocks for the gradient Induced Polarisation ("IP") and Resistivity and an additional 6 High Resolution IP ("HIRIP") profiles were completed (Figure 2).⁽³⁾

The results from this work has defined a large IP chargeable anomaly which extends southward for over 2 km from the Falea deposit, which has not yet been drill tested by GoviEx.

A number of fault structures can be seen in the HIRIP data and it could be envisaged that such structures acted as feeders to the Falea deposit, and may still host mineralisation (Figures 2, 3 and 4).

The recent 2021 survey also targeted the Bala licence, some 8 km south of the Falea deposit, where no historical drilling has been carried out. Previous field work has interpreted faulting from magnetic data as well as radiometric and radon anomalies at surface. An area of 4 km² was selected to determine if any IP or resistivity anomalies would be present, followed by 2 HIRIP lines, which would define apparent depths of anomalies.

The results of the gradient IP and resistivity show the presence of a large chargeable body in the north-eastern side of the survey area, which can be seen also on the HIRIP sections. The presence of fault structures can also be seen, which are similar in orientation to what is seen further north.

The IP work to date has been successful, highlighting:

• A large chargeable body underneath the Falea deposit, over 2km in length, and 500m in width on the Falea Exploration Permit.

• This anomaly, and others now identified over the Falea Project, highlight the potential of other targets which the Company will be busy prioritising over coming months.

• On the Bala Exploration Permit, there is potential chargeable body to the northeast and with a much shallower depth to basement, than on the Falea Exploration Permit.

• The Falea and Bala Exploration Permit areas remain highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

Figure 1: Potential flow of mineralised of the Falea Project.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_001full.jpg

Figure 2: Location of survey areas and HIRIP lines to date.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5017/91925_figure2enhanced.jpg

Figure 3: Line FAL20-1 shows IP anomaly underneath the Falea deposit, and drill holes only just clipping the anomalies and not testing them.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_008full.jpg

Figure 4: Line FAL-21_03- shows continuity of chargeable body at depth within the Birimian interpreted faulting in the area south of Falea deposit, the continuity of the anomaly between the two lines.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_009full.jpg

To view an enhanced version of Figure 5 (a), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_012full.jpg

To view an enhanced version of Figure 5 (b), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_011full.jpg

Figure 5: Gradient IP and resistivity images, showing extent of the chargeable anomaly and faulting in the area.

Figure 6: BAL21-A- shows interpreted faulting and also shallower depth to Birimian basement.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_013full.jpg

To view an enhanced version of Figure 7 (a), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_014full.jpg

To view an enhanced version of Figure 7 (b), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_015full.jpg

Figure 7: Bala Survey Area: gradient IP and Resistivity images- showing a large chargeable body to the Northeast of the area.

Qualified Person Statement

The technical content of this press release has been reviewed and approved by Mr. Jerome Randabel, MAIG, Chief Geologist of GoviEx, a Qualified Person as defined in NI 43-101.

Technical Notes

The gradient survey is carried out along lines spaced at 100m apart with line lengths ranging between 265 to 1,150 m. The electrode spacing or AB spacing was between 2,750 and 3,110 m, and receiver points spacing at 50 m on an overlapping pattern. Terratec used Time domain receivers from IRIS Instrument with 150 m of cable, with 7 brass electrodes spaced at 25 m. The transmitter used was a WalcerTX9000.

The block pattern is illustrated below:

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_016full.jpg

The HIRIP Lines (High Resolution Resistivity and IP) were selected to detect resistivity and chargeability distribution at depth to support detailed geological interpretation. The technique provided true resistivity to a depth of approximately 550 m with electrode spacing of 20 m and a profile length of 1,900 m. The HIRIP lines were selected in discussion with Terratec. Transmitter injection points were prepared with a spacing of 40 m and offset 50 m (Figure 3) parallel to the receiver lines. The data distribution of a HIRIP pole dipole array for a 1,900 m line is illustrated below:

To view an enhanced version of Figure 9, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_017full.jpg

The equipment used by Terratec is a Time domain induced polarization multi electrode receiver from Iris Instruments connected to a 1,900 m long cable with 96 electrodes at 20m spacing. A Transmitter used was an Iris VP400.

Notes:

1. See: Technical Report titled "Technical Report on the Falea Uranium, Silver and Copper Deposit, Mali, West Africa" prepared by Roscoe Postle Associates Inc. for Denison Mines Corp., October 26, 2015.

2. See news release dated July 6, 2020.

3. See news release dated December 15, 2020.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Information Contacts

Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those related to the exploration potential for the Falea Project; that the Falea deposit may still host mineralisation below the unconformity; the potential chargeable body of the Bala Exploration Permit; and that the Falea and Bala Exploration Permit areas remain highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its exploration and development plans for the Falea Project; (ii) that projected low capital expenditures for the Falea Project will remain unchanged or improve; (iii) that the Company will be able to follow up on the positive results of the geophysics program with additional exploration; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the inability of the Company to complete follow-up exploration work on the Falea Project; (ii) potential delays due to COVID-19 restrictions; (iii) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (iv) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (v) an increase in the Company's operating costs above what is necessary to sustain its operations; (vi) accidents, labour disputes, or the materialization of similar risks; (vii) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (viii) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2020, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91925

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, Aug. 2, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/37cWBqt

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Participating Companies:

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

View original content to download multimedia:https://www.prnewswire.com/news-releases/green-energy–precious-metals-investor-conference-presentations-now-available-for-on-demand-viewing-301345875.html

SOURCE VirtualInvestorConferences.com

NYSE American symbol – UEC

CORPUS CHRISTI, Texas, Aug. 2, 2021 /PRNewswire/ – Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce that, in conjunction with the holding of the Company's recent annual general meeting of stockholders on July 30, 2021, the following matters were duly ratified by the Company's stockholders and have now been implemented by the Board of Directors in the following manner:

• Amir Adnani, Spencer Abraham, Vincent Della Volpe, David Kong, Ganpat Mani and Gloria Ballesta were elected to the Board of Directors of the Company;

• PricewaterhouseCoopers LLP, Chartered Professional Accountants, were appointed as the Company's independent registered accounting firm;

• the Company's 2021 Stock Incentive Plan was approved;

• the Company's executive compensation was approved; and

• the following Executive Officers of the Company were re-appointed by the Board of Directors of the Company immediately following the AGM:

Amir Adnani: President and Chief Executive Officer;

Pat Obara: Secretary, Treasurer and Chief Financial Officer; and

Scott Melbye: Executive Vice President.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration company. As a leading pure-play American uranium company, UEC is advancing the next generation of low-cost and environmentally friendly In-Situ Recovery (ISR) mining uranium projects. In South Texas, the Company's hub-and-spoke operations are anchored by our fully-licensed Hobson Processing Facility which is central to our Palangana, Burke Hollow, Goliad and other ISR pipeline projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company's diversified holdings provide exposure to a unique portfolio of uranium related assets, including: 1) major equity stake in the only royalty company in the sector, Uranium Royalty Corp; 2) physical uranium warehoused in the U.S.; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. In Paraguay, the Company owns one of the largest and highest-grade ferro-titanium deposits in the world. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, market and other conditions, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or 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 contained in this news release and in any document referred to in this news release. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

View original content:https://www.prnewswire.com/news-releases/uranium-energy-corp-announces-results-of-annual-general-meeting-301346460.html

SOURCE Uranium Energy Corp

Here are five stocks added to the Zacks Rank #5 (Strong Sell) List today:

Atento S.A. ATTO is a provider of customer relationship management and business process outsourcing services. The Zacks Consensus Estimate for its current year earnings has been revised 93.3% downward over the last 30 days.

Ballard Power Systems Inc. BLDP engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The Zacks Consensus Estimate for its current year earnings has been revised 4.8% downward over the last 30 days.

The Bank of N.T. Butterfield & Son Limited NTB offers bank and wealth management services. The Zacks Consensus Estimate for its current year earnings has been revised 1.8% downward over the last 30 days.

Cameco Corporation CCJ produces and sells uranium. The Zacks Consensus Estimate for its current year earnings has been revised more than 100% downward over the last 30 days.

Emergent BioSolutions Inc. EBS is a life sciences company. The Zacks Consensus Estimate for its current year earnings has been revised 2% downward over the last 30 days.

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Zacks Investment Research

Headquartered in Alabama, Potter will lead the Company’s efforts to construct its first-of-its-kind graphite processing plant

CENTENNIAL, Colo., August 02, 2021–(BUSINESS WIRE)–Westwater Resources, Inc. (NYSE American: WWR), a battery graphite development company, today announced the appointment of Chad M. Potter, a metals industry executive with almost two decades’ experience, as the company’s new Chief Operating Officer. Potter’s appointment follows Westwater’s June 22 announcement that it will bring a first-of-its kind, advanced graphite processing plant to the state of Alabama.

For the past several years, Potter, 46 years old, was the COO and VP of Operations in Alabama, Ohio, Kentucky and Tennessee at American Consolidated Industries, headquartered in Cleveland, Ohio. As a senior member of the American Consolidated Industries executive team, he led all operating activities for the company’s four business units and was responsible for safety, profitability, strategic growth, preventative/predictive maintenance, and acquisitions.

Prior to working at American Consolidated Industries, Potter was a member of the management team at Nucor Steel in Decatur, AL. He spent more than 14 years at Nucor, where he was responsible for all accounting, finance, IT, purchasing, human resources and warehouse functions at the company’s Decatur, AL flat-rolled Division. During his tenure at Nucor, he was promoted to CEO and General Manager of the Joint Venture for Nucor and JFE steel in Guanajuato, Mexico, a world-class exposed automotive galvanizing facility serving the growing automotive sector in Mexico. Potter received his MBA from Morehead State University and his BS in Business from Wright State University in Ohio.

"Chad Potter is a recognized leader in the metals industry known for implementing safe and profitable business practices, and he comes to Westwater with battle-tested executive aptitude, industry expertise, leadership know-how and a track record of world-class safety procedure implementation," said Chris Jones, CEO of Westwater. "As we get started with the construction of our new processing facility for our Coosa Graphite Project, Chad will lead in the implementation of state-of-the-art processes, cost controls, productivity optimization and revenue maximization – all while ensuring our employees and the surrounding community are safe. He’s a tremendous talent and a hands-on plant supervisor, and we look forward to the expansion of our team under his leadership."

"I’m looking forward to bringing my experience and skills to the green energy sector and particularly to Westwater Resources and its new graphite processing plant in Alabama, where we’ll soon provide more than 100 green economy jobs in Coosa County," said Potter. "For far too long, the U.S. has been dependent on foreign sources for our graphite, but thanks to Westwater, Alabama Graphite Products and the great state of Alabama, this is about to change. I’m thrilled to be taking this bold step into the future of clean energy with such an incredible team. I look forward to getting started."

Also, Westwater and Alabama Graphite Products wishes to congratulate Dain McCoig, Vice President of Operations, on his appointment to the Board of the Alabama Mining Association ("AMA"). AMA is the first state association to establish a sustainable mining program, and Mr. McCoig, along with Joshua Holland, Director of Environmental and Government Affairs, are committed to utilizing Westwater’s extensive experience to help make this effort a success.

About Westwater Resources

Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the results of the Company’s pilot program, future production of battery graphite products, future financing activities and financial resources, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a commercial-scale plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (h) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) new litigation or arbitration; and (k) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005213/en/

Contacts

Westwater Resources

Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

LAKEWOOD, Colo., July 30, 2021 /PRNewswire/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended June 30, 2021. The Company's quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, and on the Company's website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights:

• At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory. At current commodity prices, the Company's inventory has a value of $39.1 million.

• During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, which included a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million resulting from a significant increase in the Company's share price.

• With several existing uranium mines on standby and significant existing inventories of Company-produced, U.S.-origin uranium, the Company continues to be ready to supply uranium into improved global markets and the proposed U.S. Uranium Reserve once it is established by the U.S. government.

• During the first half of 2021, the Company began ramping up to commercial-scale production of a mixed rare earth element ("REE") carbonate ("RE Carbonate"), as a complement to its uranium business. In July 2021, Energy Fuels commenced deliveries of its RE Carbonate to a separation facility in Europe.

• The Company has entered into a definitive agreement to sell a package of Energy Fuels' non-core conventional uranium projects located in Utah and Colorado to International Consolidated Uranium Inc. ("CUR"). Based on CUR's current share price, exchange rates and assuming the closing and full performance of the agreement, the current proforma value of this divestment is approximately US$24 million.

• The Company has entered into a strategic alliance agreement with RadTran, LLC, a private technology development company, to evaluate the recovery of thorium and potentially radium from the Company's RE Carbonate and uranium process streams, as a complement to its uranium and RE Carbonate businesses, for use in the production of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics.

Mark S. Chalmers, Energy Fuels' President and CEO, stated:

"Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill. We are also very excited about our recently announced Strategic Alliance with RadTran, which has the potential to help produce isotopes from our existing RE Carbonate and uranium process streams for use in cancer therapeutics that can improve human health and ultimately save lives. These two initiatives, which are complementary to our core uranium business, are examples of the unique and valuable capabilities of the White Mesa Mill.

"We also announced the sale of several non-core conventional uranium assets to International Consolidated Uranium. These are licensed uranium assets, with excellent production track-records. But we don't think markets value these assets appropriately within our portfolio. With this accretive disposition, we hope to unlock value in these excellent assets for our shareholders.

"The outlook for uranium also continues to improve, vanadium markets are strengthening and REE prices continue to exhibit strength. With three fully licensed uranium processing centers — the White Mesa Mill and the Nichols Ranch and Alta Mesa in situ recovery facilities — the largest NI 43-101 resource portfolio among U.S. uranium producers, and almost 700,000 pounds of U.S.-produced U₃O₈ in inventory, the Company remains well-positioned to benefit from a strengthening uranium market and the proposed U.S. Uranium Reserve once it is established by the U.S. government. But what I find most exciting about all this is that not only do we have excellent optionality and exposure to improved uranium markets, we are also leveraging our existing uranium assets to give the Company and our shareholders exposure to vanadium, REEs and potentially medical isotope markets, all as complements to our primary uranium business. Each of these complementary businesses could develop into a significant business for the Company in its own right and bodes well for our quickly developing "Critical Minerals Hub" in the U.S."

Webcast on Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT):

Energy Fuels will be hosting a video webcast Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT) to discuss its Q2-2021 financial results, rare earth production and other corporate initiatives. To join the webcast and access the presentation and the viewer-controlled webcast slides, please click on the link below:

Energy Fuels Q2-2021 Results Webcast

If you would like to participate in the webcast and ask questions, please dial in to (888) 664-6392 (toll free in the U.S. and Canada).

A link to a recorded version of the proceedings will be available on the Company's website shortly after the webcast by calling (888) 390-0541 (toll free in the U.S. and Canada) and by entering the code 679255#. The recording will be available until August 17, 2021.

Selected Summary Financial Information:

Financial Discussion:

At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory, including approximately 691,000 pounds of uranium and 1,672,000 pounds of high-purity vanadium, both in the form of immediately marketable product. The current spot price of U₃O₈, according to TradeTech, is $32.50 per pound (up 7% in 2021), and the current mid-point spot price of V₂O₅, according to Metal Bulletin, is $9.88 per pound (up 83% in 2021). Based on those spot prices, the Company's uranium and vanadium inventories have a current market value of $22.5 million and $16.5 million, respectively, totaling $39.0 million.

During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, compared to a net loss of $8.2 million for the second quarter of 2020, and a net loss of $21.7 million year-to-date compared to $13.8 million during the first six months of 2020. The increased net losses in 2021 are due primarily to increased development expenditures incurred in ramping up our RE Carbonate production at the White Mesa Mill in Utah (the "Mill") and a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million and $7.1 million year to date, resulting from an increase in the Company's share price.

Commencement of Rare Earth Carbonate Deliveries in 2021:

On July 7, 2021, the Company and Neo Performance Materials Inc. ("Neo") jointly announced that the first container (approximately 20 tonnes of product) of an expected first run of 15 containers of RE Carbonate was successfully produced by Energy Fuels at the Mill and is en route to Neo's Silmet rare earth separations facility in Estonia, creating a new United States-to-Europe rare earth supply chain.

Monazite sand is widely recognized as one of the most valuable rare earth minerals in the World, due to its superior distributions of magnetic REEs needed for various clean energy, defense and other advanced technologies. Natural monazite sand is currently recovered as a low-cost byproduct of heavy mineral sand ("HMS") operations in the U.S. and elsewhere in the world. The historic challenge with monazite is that it contains higher concentrations of natural uranium, thorium and other radionuclides relative to other minerals, thereby requiring specific licenses and specialized technical capabilities to handle and process. Energy Fuels currently holds the required licenses, and we have developed the ability to unlock the value of this domestic resource over the past 20+ years of recycling numerous feeds for the recovery of uranium. Energy Fuels' commercial-scale production of RE Carbonate from U.S.-mined natural monazite sand positions Energy Fuels as the only company in North America currently producing a monazite-derived, enhanced rare earth material.

The Company and Neo also announced the signing of a definitive supply agreement under which Energy Fuels will ship all or a portion of its RE Carbonate to Neo's Silmet facility for processing into separated rare earth materials used in rare earth permanent magnets and other rare earth-based advanced materials. We believe Energy Fuels is well on its way to creating a new, low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights, that allows for source validation and tracking from mining through final end-use applications for manufacturers in North America, Europe, Japan and other nations.

We are currently scoping the potential to produce separated REE oxides using proven solvent extraction ("SX") technology that we have utilized for the recovery of uranium and vanadium over the past 40+ years. We are also evaluating moving farther down the REE supply chain to produce certain rare earth metals, alloys and other products.

Sale of Non-Core Conventional Assets to International Consolidated Uranium Inc:

On July 15, 2021, the Company and International Consolidated Uranium Inc. ("CUR") jointly announced the signing of a definitive asset purchase agreement under which CUR will acquire a portfolio of Energy Fuels' non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases. In addition, at closing the Company and CUR will enter into toll-milling and operating agreements with respect to the properties. The consideration payable by CUR to Energy Fuels includes US$2 million cash payable at closing, such number of shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing, Cdn$6 million of deferred cash payable over time, and up to Cdn$5 million of deferred cash payable on the commencement of commercial production at the properties. Through this accretive disposition, Energy Fuels believes the value of these high-quality, permitted, and past-producing mines can be unlocked for Company shareholders, while also cutting standby costs, earning management fees, and potentially realizing toll milling fees in the future. Based on the current CUR share price, exchange rates and assuming the closing and full performance of the agreement, the proforma value of this divestment is approximately US$24 million.

Collaboration with RadTran, LLC on Recovering Medical Isotopes for Advanced Cancer Therapies:

On July 28, 2021, the Company announced the execution of a Strategic Alliance Agreement with RadTran, LLC, a technology development company focused on closing critical gaps in the procurement of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics and other applications. Under this strategic alliance, the Company will evaluate the feasibility of recovering Th-232, and potentially Ra-226 from its existing uranium and RE Carbonate process streams at the Mill and, together with RadTran evaluate the feasibility of recovering Ra-228 from the Th-232 and Th-228 from the Ra-228 at the Mill using RadTran technologies. The recovered Ra-228, Th-228 and potentially Ra-226 would then be sold to pharmaceutical companies and others to produce Pb-212, Ac-225, Bi-213, Ra-224 and Ra-223, which are the leading medically attractive TAT isotopes for the treatment of cancer. Existing supplies of these isotopes for TAT applications are in short supply, and methods of production are costly and currently cannot be scaled to meet the demand as new drugs are developed and approved. This is a major roadblock in the research and development of new TAT drugs as pharmaceutical companies wait for scalable and affordable production technologies to become available. Under this exciting initiative, the Company has the potential to recycle valuable isotopes from its existing process streams, that would otherwise be lost to disposal, for use in the treatment of cancer.

Market Conditions

The outlook for uranium continues to improve, as demand continues to outpace supplies and uranium juniors and financial intermediaries enter the market to purchase uranium and build inventories. The weekly spot price for uranium has increased 4% from $31.25 to $32.50 per pound during the quarter and 7% from $30.40 to $32.50 during the first six months of 2021. The spot price of uranium is currently at $32.50 per pound as of July 23, 2021. Energy Fuels holds 691,000 pounds of U.S.-origin uranium in inventory that we recently produced at our own facilities in the U.S. through our low-cost alternate feed material production, which is among the lowest-cost uranium production in the world today.

Vanadium markets are also strengthening. An improving global economy, coupled with political unrest in South Africa and other factors, has caused vanadium prices to rise 83% this year, from $5.40 per pound as of December 25, 2020 to $8.75 per pound as of June 25, 2021 to $9.88 per pound as of July 30, 2021. Vanadium is a valuable clean energy metal, historically used in steel, master alloys, and chemicals. It is also seeing considerable interest in emerging grid-scale battery technologies used to store renewable energy. Energy Fuels also holds about 1.7 million pounds of finished high-purity vanadium pentoxide in inventory, plus 1.5 to 3.0 million pounds of solubilized vanadium inventory in the Mill's tailings solutions that we can recover relatively quickly. We also hold large quantities of high-grade vanadium resources at our standby mines where we recently developed new mining techniques that we believe can increase production and lower costs when mining resumes in the future. The Mill was the largest U.S. vanadium producer as recently as 2019.

Finally, REE prices continue to be strong, with the price of NdPr increasing 48% year to date from $78.50/kg on January 4, 2021 to $116.00/kg on July 30, 2021 and 118% from $53.3/kg on July 27, 2020 to date. The Company's sales price for its RE Carbonate is currently based on the prices of REE oxides, with the price of NdPr being the primary driver of the Company's RE Carbonate sales price at this time.

Operations Update and Outlook for Period Ending June 30, 2021

Overview

Although the outlook for uranium continues to improve, uranium prices have not risen enough to date to justify uranium production at the Company's mines and ISR facilities at this time. As a result, uranium recovery is expected to be maintained at reduced levels at current uranium price levels, until such time when market conditions improve sufficiently or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. Uranium Reserve.

The Company will continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging rare earth business, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During the six months ended June 30, 2021, the Company did not recover significant quantities of U₃O₈, and expects to package insignificant quantities of U₃O₈ for the remainder of 2021, focusing instead on ramping up and optimizing its RE Carbonate production. This is a reduction from previous guidance of 30,000 to 60,000 pounds of uranium production in 2021. All uranium recovered during 2021 at the Mill is expected to be retained in-circuit at the Mill and not to be packaged in 2021. The Company does not plan to extract and/or recover any amounts of uranium of any significance from its Nichols Ranch Project in 2021, which was placed on standby in the second quarter of 2020 due to the depletion of its existing wellfields. In addition, the Company expects to keep the Alta Mesa Project and its conventional mining properties on standby during 2021.

The Company expects to recover approximately 700 to 1,100 tonnes of RE Carbonate at the Mill in 2021, containing approximately 350 to 550 tonnes of total rare earth oxides ("TREO"), subject to receipt of sufficient quantities of monazite. This is a reduction from previous guidance of 2,000 to 3,000 tons (1,814 to 2,721 tonnes) of RE Carbonate, containing approximately 1,000 to 1,600 tons (907 to 1,451 tonnes) of TREO, in 2021, due to what the Company expects to be a short-term delay in supply of monazite sands to the Mill under the Company's existing supply agreement. The Company expects to produce no vanadium during the 2021 year.

The Company has strategically opted not to enter into any uranium sales commitments for 2021. Therefore, subject to the proposed establishment of a U.S. Uranium Reserve and general market conditions, existing inventories are expected to remain unchanged at approximately 691,000 pounds of U₃O₈ at year-end. All V₂O₅ inventory is expected to be sold on the spot market if prices rise sufficiently above current levels, but otherwise maintained in inventory. The Company expects to sell all or a portion of its RE Carbonate to Neo Performance materials or other global separation facilities and/or to stockpile it for future separation at the Mill or elsewhere.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U₃O₈ to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of RE Carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U₃O₈ per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U₃O₈ per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company's ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectation regarding any remaining dissolved vanadium in the White Mesa Mill's tailings facility solutions; any expectation that the Company's recently developed mining techniques can increase production and lower costs when vanadium mining resumes in the future; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company's expectations as to longer term fundamentals in the market and price projections; any expectation that the Company will maintain its position as a leading uranium company in the United States; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Mill's RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation that the Company and Neo will be successful in jointly developing a fully integrated U.S.-European REE supply chain; any expectation that the Company will be successful in building a low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite ore to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill's RE Carbonate; any expectation that the Company's evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; and any expectation that the Company's agreement to sell certain of its non-core properties to CUR will complete as contemplated or at all, or as to the proforma value of this divestment to the Company. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of alternate feed materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and potentially radium at reasonable costs or at all; the ability of the Company and RadTran to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

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SOURCE Energy Fuels Inc.

Calgary, Alberta–(Newsfile Corp. – July 30, 2021) – New Stratus Energy Inc. (TSXV: NSE) ("New Stratus" or the "Corporation") is pleased to announce that it has closed the second and final tranche of the previously announced brokered private placement led by Canaccord Genuity Corp. (the "Lead Agent") as lead agent and sole bookrunner on behalf of a syndicate of agents comprised of Echelon Wealth Partners Inc. and Paradigm Capital Inc. (together with the Lead Agent, the "Agents"). Upon closing of the final tranche, the Corporation issued 2,726,377 units ("Units") of the Corporation at a price of $0.30 per Unit for gross proceeds of approximately $818,000 bringing the aggregate total from the first and second tranche to 32,190,751 Units for gross proceeds of approximately $9.66 million (the "Offering"). Each Unit is comprised of one common share of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for one Common Share at an exercise price of $0.45 for a period of 24 months from July 21, 2021.

As consideration for services rendered in connection with the Offering, the Corporation paid to the Agents a commission in the amount equal to 8% of the gross proceeds of the Offering.

The Corporation intends to use the net proceeds from the Offering for development and exploration activities on its Colombian block, ‎VMM-18, the evaluation of other opportunities in its core assessment areas of Colombia, Ecuador, Peru and Venezuela and general corporate purposes.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the final tranche Offering will be subject to a four (4) month hold period ending December 1, 2021. The Offering remains subject to final approval from the TSX Venture Exchange.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information:

Jose Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy ‎

Wade Felesky
President
wfelesky@newstratus.energy

Mario Miranda
Chief Financial Officer
mmiranda@newstratus.energy

Forward-Looking Information

Certain information set forth in this press release constitutes "forward-looking statements" and "forward-looking information" under applicable securities laws. All information other than statements of historical fact are forward-looking statements. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "intends", "projects", "plans", and similar expressions. This press release includes certain forward-looking statements concerning the Offering, including the use of the net proceeds, as well as management's objectives, strategies, beliefs and intentions. These statements are not guarantees of future performance. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, including, for example, the risks inherent in oil and gas exploration and production activities, volatility in commodity prices, changes in political conditions, competitive risks and the availability of financing. Such risks and uncertainties may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91704

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

/NOT FOR DISTRIBUTION TO THE UNITED STATES/

VANCOUVER, BC, July 30, 2021 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce it has closed the final tranche of the non-brokered private placement financing announced on July 12, 2021 consisting of 4,264,000 units in this tranche for a total of 12,977,750 units at a price of $0.16 per unit for total gross proceeds of $2,076,440.

Each unit consists of one common share and one transferrable common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.25 per share for two years from the date of issue, expiring on July 30, 2023.

In this tranche, finder's fees of $14,702.80 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 91,893 non-transferable finder's warrants are being issued (the "Finder's Warrant"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.25 per share for two years from the date of issue, expiring on July 30, 2023. In total, cash finder's fees of $49,002.80 will have been paid and 306,268 Finder's Warrants will have been issued.

Certain insiders of the Company participated in the Private Placement for $7,200 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

The proceeds of the financing will be used for exploration programs on the Company's projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to this tranche of the financing are subject to a four-month hold period expiring on November 30, 2021.

About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

______________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE Blue Sky Uranium Corp.

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Energy Fuels (UUUU) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this uranium and vanadium miner and developer would post a loss of $0.05 per share when it actually produced a loss of $0.08, delivering a surprise of -60%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Energy Fuels, which belongs to the Zacks Mining – Non Ferrous industry, posted revenues of $0.46 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 91.68%. This compares to year-ago revenues of $0.4 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Energy Fuels shares have added about 27.9% since the beginning of the year versus the S&P 500's gain of 17.7%.

What's Next for Energy Fuels?

While Energy Fuels has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Energy Fuels was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.03 on $10.53 million in revenues for the coming quarter and -$0.17 on $18.41 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Non Ferrous is currently in the top 46% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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Alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain

LAKEWOOD, Colo., July 29, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce the execution of a Strategic Alliance Agreement ("Alliance") with RadTran, LLC ("RadTran") to evaluate the recovery of thorium, and potentially radium, from the Company's existing rare earth carbonate ("RE Carbonate") and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics. This initiative will complement the Company's existing uranium and RE Carbonate businesses, as it will investigate the recovery of isotopes in existing process streams at Energy Fuels' White Mesa Mill in Utah (the "Mill") for medical purposes. RadTran is a Denver, Colorado-based technology development company focused on closing critical gaps in the procurement of medical isotopes for these applications.

Uranium and thorium are long-lived (long "half life"), naturally occurring radioactive elements that decay into a series of different elements through the successive loss of alpha or beta particles. Certain elements in or derived from the uranium and thorium decay chains have short half-lives and emit alpha particles. These alpha emitting isotopes are currently being studied by major pharmaceutical companies developing therapies to treat cancer on a cellular level, while minimizing damage to surrounding healthy tissue. However, existing domestic and global supplies of these isotopes are in short supply, and existing methods of production are costly and currently unable to scale-up to meet widespread demand as new drugs are developed and approved in the U.S., Europe and around the World. These are major roadblocks in the research and development of new TAT drugs, as pharmaceutical companies wait for scalable and affordable production technologies to become available.

The Mill can represent a possible solution to this medical supply chain issue. The Mill is the only licensed and operating conventional uranium mill in the U.S., and it recently began production of RE Carbonate from natural monazite sands. Monazite sands, natural uranium ores, and certain other feed sources for the Mill contain thorium-232 ("Th-232") and radium-226 ("Ra-226"), which would normally be disposed of permanently in the Mill's tailings impoundments following processing for uranium and RE Carbonate recovery. As an initial step in this medical isotope initiative, Energy Fuels and RadTran will evaluate the technical and economic feasibility of recovering Th-232, and potentially Ra-226, from the Mill's natural monazite and other existing feeds, subject to receipt of any required licenses, permits and regulatory approvals. These isotopes are a necessary precursor to the specific medical isotopes needed by pharmaceutical companies for their emerging TAT cancer therapeutics, making this initiative the potential beginning of an important new domestic medical supply chain.

If this initial step is feasible, and subject to receipt of any required licenses, permits and regulatory approvals, Energy Fuels and RadTran will then evaluate the feasibility of recovering radium-228 ("Ra-228") from the Th-232 and thorium-228 ("Th-228") from the Ra-228 at the Mill using RadTran technologies, with the backing of the Pacific Northwest National Laboratory ("PNNL") in Richland, Washington. The recovered Ra-228, Th-228, and potentially Ra-226, would then be sold to pharmaceutical companies and others to produce the short-lived isotopes which are the leading medically attractive TAT isotopes for the treatment of cancer, including lead-212 ("Pb-212"), actinium-225 ("Ac-225"), bismuth-213 ("Bi-213"), radium-224 ("Ra-224"), and radium-223 ("Ra-223").

"The Alliance between Energy Fuels and RadTran is remarkable as it aims to alleviate the major bottleneck in the targeted alpha therapy market. Upon the successful production of these isotopes at the Mill, this Alliance will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply," stated Dr. Saleem Drera, Founder and CEO of RadTran.

If successful, this Alliance has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry. In addition, Energy Fuels can support cancer research and the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. This initiative is also highly complementary to the Company's existing businesses, as the uranium and rare earth feeds Energy Fuels currently processes contain the required thorium and radium. Energy Fuels is seeking to put these isotopes to beneficial human use, rather than losing them to permanent disposal.

"At its heart, the Energy Fuels' Alliance with RadTran is about maximizing the value and human benefit of our existing uranium and rare earth feeds at the White Mesa Mill," stated Mark S. Chalmers, President and CEO of Energy Fuels. "Energy Fuels has a long track record of ethically and responsibly processing a wide variety of naturally occurring radioactive materials at the White Mesa Mill for the recovery of uranium, and more recently, rare earths. In our view, recovering medical isotopes from these same streams, that would otherwise be lost to direct disposal, is a great way to maximally use all of our feeds. Indeed, we are essentially replicating China's 'monazite plan.' China purchases monazite from around the globe, recovers the uranium for use in their nuclear industry, recovers the thorium presumably for use in their nuclear and pharmaceutical industries, and recovers the rare earths for processing into advanced materials needed for various clean energy and advanced technologies. Our White Mesa Mill is a facility unique to the United States that has the potential to do the same thing at world standards.

"We believe Energy Fuels has the potential to create a domestic supply of thorium and possibly radium that can be harvested using RadTran's technologies for use in the production of the next generation of cancer therapies, a potentially multi-billion dollar industry. And we would be accomplishing this in a way that is environmentally beneficial and highly congruent with Energy Fuels' recycling and sustainability goals. We look forward to working with RadTran on this important initiative."

ABOUT ENERGY FUELS

Energy Fuels is a leading U.S.-based uranium mining company, supplying U₃O₈ to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U₃O₈ per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U₃O₈ per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U₃O₈per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada and the United States. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels' objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation that the Company's evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of any other isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that this initiative will alleviate the major bottleneck in the targeted alpha therapy market; any expectation that, upon the successful production of these isotopes at the Mill, this initiative will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply; any expectation that this initiative has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry, or that this next generation of cancer therapies could be a potentially multi-billion dollar industry; any expectation that all required licenses, permits and regulatory approvals will be obtained on a timely basis or at all; and any expectation that this initiative may result in the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of thorium, radium and other isotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; and market factors, including future demand for and prices realized from the sale of radium, thorium or other isotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.

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SOURCE Energy Fuels Inc.

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TORONTO, July 29, 2021 /PRNewswire/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to provide a progress update on the In-Situ Recovery ("ISR") field test activities occurring at Phase 1 of the high-grade Phoenix uranium deposit ("Phoenix") at the Company's 90% owned Wheeler River Uranium Project ("Wheeler River" or the "Project"). The Company is also pleased to announce the discovery of additional high-grade uranium mineralization, including 22.0% eU₃O₈ over 8.6 metres in drill hole GWR-045, located outside of the existing high-grade resource domain associated with Zone A and Phase 1 of the phased mining approach currently planned for Phoenix. View PDF

David Bronkhorst, Denison's VP Operations, commented, "We are pleased to have safely and successfully completed a substantial portion of the planned 2021 ISR field test program – including the installation of the commercial-scale wells in our five-spot test pattern ("Test Pattern") and nine of eleven planned monitoring wells. Baseline hydrogeologic testing and permeability enhancement efforts completed within the Test Pattern thus far are encouraging and will inform future test work as we progress towards the initiation and completion of a full-scale tracer test during the remainder of the program. The tracer test is planned to be completed during the third quarter and is expected to provide a more complete understanding of the operating parameters in Phase 1 and important information in support of our objective of permitting and completing a lixiviant test in 2022 – which is considered a key de-risking milestone for the project.

Additionally, the discovery of a thick interval of high-grade uranium mineralization in GWR-045 is quite exciting, as it has the potential to meaningfully increase the high-grade mineral resources estimated within the area currently expected to represent the first phase of ISR mining at Phoenix."

Interim progress highlights from the 2021 ISR field program include the following:

• Completed installation of commercial-scale wells: All five new commercial-scale well ("CSW") installations planned for the Test Pattern, located in the Phase 1 area of Phoenix, are complete. The Test Pattern consists of the newly installed five-spot pattern (GWR-038 to GWR-042), and GWR-032, which was installed in 2019 (see Figure 1). Taken together, the CSWs are spaced between 5 and 30 metres apart and are expected to facilitate further hydrogeologic testing and assessment of down-hole permeability enhancement tools as part of the ongoing field program.

• Successful installation of monitoring wells: Nine of eleven monitoring wells ("MWs") have been successfully installed within the Phase 1 area (see Figure 1) and outfitted with the associated materials and monitoring equipment to facilitate ongoing observation of the current and future hydrogeological test work – allowing for detailed hydrogeological assessment and water quality sampling. The final two MWs are expected to be completed in early August.

• Collected baseline hydrogeologic information and deployed permeability enhancement: The MaxPERF drilling tool was successfully deployed in all planned CSWs to create a series of lateral drill holes (penetration tunnels) designed to mechanically engineer increased access to the existing permeability of the ore zone formation.

• Discovery of High-Grade Mineralization in GWR-045: GWR-045 was completed as part of the ISR field test program to install MWs to the northwest of the five-spot Test Pattern. Based on the Phoenix block model, GWR-045 was expected to intersect low-grade uranium mineralization along the northwestern margin of the deposit, approximately 5 metres outside of the boundary of the Phoenix Zone A high-grade resource domain. The drill hole, however, intersected a thick interval of high-grade unconformity-associated uranium mineralization grading 22.0% eU₃O₈ over 8.6 metres (see Figures 1 and 2; Table 1). The high-grade mineralization intersected by GWR-045 remains open to the northwest, representing an area for further exploration and potential mineral resource expansion of Phoenix. Denison's exploration team is currently incorporating the results of GWR-045 into the Phoenix geological model to evaluate the potential to extend the high-grade domain with additional exploration drilling in the Phase 1 area of Phoenix.

Activities Planned for Remainder of 2021 ISR Field Program

Once the final two MWs are completed, the Test Pattern will be ready for additional hydrogeologic test work, including the following planned activities:

• Multi-day pump and injection tests to be conducted on the full-scale Test Pattern. These tests are intended to assess the Test Pattern's total permeability, and support an ongoing assessment of the ability of various permeability enhancement tools to normalize the varying levels of permeability associated with the natural fracture/structure network of the deposit;

• Ion tracer tests will be conducted by injecting and recovering solution with dissolved inorganic salts throughout the full-scale Test Pattern. This process is expected to (1) establish breakthrough times for each CSW, with injection from the centre well in the Test Pattern and recovery from the outer ring wells, and (2) confirm modelling of sub-surface pathways. Taken together, this test is expected to provide a more complete understanding of the hydrogeologic characteristics expected throughout Phase 1 and the necessary datasets for the design and permitting of a lixiviant test planned to make use of the same Test Pattern in 2022;

• Deployment and evaluation of additional permeability enhancement techniques based on individual well characteristics and associated hydrogeological assessments; and

• Extensive collection and analysis of permeameter samples from new and historic drill core for the assessment of matrix permeability spatially distributed throughout the areas representative of all of the mining phases planned for Phoenix.

All test work in 2021 will be conducted using site groundwater. Following the field tests and associated data collection, detailed hydrogeological and geochemical modelling of the test data will be carried out by various Qualified Persons ("QPs").

COVID-19

The Company is committed to ensuring that the Wheeler River site is a safe operating environment for its staff and contractors and that the Company's field activities do not compromise the health and safety of the residents of northern Saskatchewan. In 2020, the Company's Occupational Health and Safety Committee in Saskatoon developed a comprehensive guide for the safe resumption of work at Wheeler River. The protocols consider the unique health and safety risks associated with operating a remote work camp amidst the ongoing COVID-19 pandemic. Public health guidelines and best practices (including testing) have been incorporated into the Company's protocols.

Despite the Company's current intentions, it is possible that the 2021 ISR field program may be disrupted by the continuously evolving social and/or economic disruptions associated with the COVID-19 pandemic, which are outside of the control of the Company – for example, provincial or local travel restrictions, or changing public health guidelines, could impact the ability of Company or contractor staff to attend to
the site.

Use of Radiometric Equivalent Grades

The Company typically reports results as preliminary radiometric equivalent grades ("eU3O8"), derived from a calibrated downhole total gamma probe, during active exploration programs and subsequently reports definitive assay grades following sampling and chemical analysis of the mineralized drill core. In the case where core recovery within a mineralized intersection is less than 80%, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Denison prior to disclosure. For further details on the total gamma downhole probe methods employed by Denison, QAQC procedures and data verification procedures please see Denison's Annual Information Form dated March 26, 2021 available on Denison's website and under its profile on SEDAR and EDGAR.

About Phoenix Phase 1

Phase 1 of Phoenix is estimated to contain approximately 22.2 million pounds U₃O₈ (37,242 tonnes at 27.1% U₃O₈, above a cut-off grade of 0.8% U₃O₈) in Probable mineral reserves. Based on current designs, the Company estimates approximately 6.6 million pounds U₃O₈ (7,717 tonnes at 39.2% U₃O₈, above a cut-off grade of 0.8% U₃O₈) in Probable mineral reserves are contained within the expected operating perimeter of the Test Pattern (see Figure 1). These estimates are derived as a direct subset of those reported in the Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. The key assumptions, parameters and methods used to estimate the mineral reserves herein remain unchanged.

About Wheeler River

Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan – including combined Indicated Mineral Resources of 132.1 million pounds U₃O₈ (1,809,000 tonnes at an average grade of 3.3% U₃O₈), plus combined Inferred Mineral Resources of 3.0 million pounds U₃O₈ (82,000 tonnes at an average grade of 1.7% U₃O₈). The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, and is a joint venture between Denison (90% and operator) and JCU (Canada) Exploration Company Limited (10%).

A Pre-Feasibility Study ("PFS") was completed for Wheeler River in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U₃O₈ over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U₃O₈. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.

Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Denison suspended certain activities at Wheeler River during 2020, including the EA process, which is on the critical path to achieving the project development schedule outlined in the PFS. While the EA process has resumed, the Company is not currently able to estimate the impact to the project development schedule outlined in the PFS, and users are cautioned against relying on the schedule estimates provided therein, including with respect to the start of pre-production activities in 2021 and first production in 2024.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to the Wheeler River project, Denison's interests in the Athabasca Basin include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. In addition, Denison has an extensive portfolio of exploration projects covering approximately 280,000 hectares in the Athabasca Basin region.

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Qualified Persons

The technical information contained in this release has been reviewed and approved by Mr. David Bronkhorst, P.Eng, Denison's Vice President, Operations and Mr. Andrew Yackulic, P. Geo., Denison's Director, Exploration, who are Qualified Persons in accordance with the requirements of NI 43-101.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the planned scope, elements, and objectives of the 2021 ISR field programs, including the drilling of CSWs and MWs and development and objectives of the Test Pattern; other evaluation activities, including a planned future lixiviant test; the results of the PFS and expectations with respect thereto; expectations with respect to phased development, and the estimates of reserves in each such phase; other development and expansion plans and objectives, including plans for an environmental assessment and a feasibility study; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the modelling and assumptions upon which the work plans are based may not be maintained after further testing or be representative of actual conditions within the Phoenix deposit. In addition, Denison may decide or otherwise be required to discontinue its field test activities or other testing, evaluation and development work at Wheeler River if it is unable to maintain or otherwise secure the necessary resources (such as testing facilities, capital funding, regulatory approvals, etc.) or operations are otherwise affected by COVID-19 and its potentially far-reaching impacts. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 or subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources and Probable Mineral Reserves: This press release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that while such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ('NI 43-101') and are recognized and required by Canadian regulations, these terms are not defined under Industry Guide 7 under the United States Securities Act and, until recently, have not been permitted to be used in reports and registration statements filed with the United States Securities and Exchange Commission ('SEC'). 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. In addition, the terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" for the purposes of NI 43-101 differ from the definitions and allowable usage in Industry Guide 7. Effective February 2019, the SEC adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act and as a result, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding definitions under the CIM Standards, as required under NI 43-101. However, information regarding mineral resources or mineral reserves in Denison's disclosure may not be comparable to similar information made public by United States companies.

Figure 1: Plan Map Showing Location of Phoenix Deposit (Phase 1) – ISR Test Pattern

Figure 2: Cross Section View of the Phoenix Deposit (Phase 1) – Through GWR-045 Showing Location of Mineralized Intersection Relative to Existing High-Grade Resource Domain

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SOURCE Denison Mines Corp.

CCJ earnings call for the period ending June 30, 2021.

LONDON, UK / ACCESSWIRE / July 28, 2021 / Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (LSE:APF)(TSX:APY), is pleased to issue the following trading update. Unless otherwise stated, all unaudited financial information is for the quarter or half year ended 30 June 2021.

This update is ahead of the release of the full Group audited half year results on 25 August 2021.

Highlights

• Portfolio contribution¹ for Q2 2021 of £9.4m, a 38.2% increase compared to £6.8m in Q1 2021, includes maiden deliveries under the Voisey's Bay stream following completion of the acquisition at the end of Q1 2021. The Group's Q2 2021 portfolio contribution has benefitted from 5 deliveries from the stream, and when combined with the 3 deliveries thus far in July 2021, the Group has realised total proceeds of US$4.0m (£2.8m)

• Portfolio contribution of £16.2m in H1 2021 compared to £19.1m in H1 2020, reflects lower coking coal prices and volumes at both Kestrel and Narrabri, primarily in Q1 2021, but is offset by maiden contributions from the Group's Voisey's Bay stream of £1.7m

• Coal prices in the earlier part of 2021 were impacted by the Chinese import ban on Australian coal – this position reversed in late Q2 2021, resulting in a more favourable outlook for H2 2021

• Dividends from LIORC of C$2.75 per share declared in H1 2021 compared to C$0.80 per share in H1 2020 – benefitting from continued strong iron ore pricing throughout the first six months of 2021

• Realised copper and vanadium prices were higher in the period which benefitted Mantos Blancos and Maracás Menchen revenue (the latter was impacted by a one-off off-take adjustment charge in H1 2020)

• All the Group's producing assets are back in operation, following the recommencement of activities at the McClean Lake Mill after a period of COVID-19 related care and maintenance (as announced at the Group's Q1 2021 Trading Update)

• Net debt of £78.7m at the end of June 2021 (£24.4m at the beginning of the year) reflecting the acquisition of the Voisey's Bay cobalt stream in Q1 2021

• With ~US$29m of undrawn borrowings, ~US$39m residual position in LIORC and ~US$8.0m of treasury shares, the Group has financing flexibility of ~US$76m to finance further growth opportunities

Anglo Pacific expects H2 2021 to be stronger, in light of a rally in cobalt prices and the full effect of the Voisey's Bay stream being recognised in the Group's portfolio, strength in copper and iron ore prices and a recovery in the coal market, supported by the backdrop of strong infrastructure spending and continued anticipated demand for 21^st century commodities

Julian Treger, Chief Executive Officer of the Company, commented:

'Anglo Pacific has had a stable first half of 2021, with 8 cobalt deliveries now processed under our Voisey's Bay stream which has generated cash to the end of July 2021 of US$4.0m. Voisey's Bay was a transformational acquisition during the period for Anglo, not only in terms of it being the Group's largest and most significant transaction to date, but also in terms of transitioning our portfolio towards 21^st century commodities that support a more sustainable future. It is pleasing to see the stream operate smoothly and in line with our expectations.

While prices for our commodities were weaker in Q1 2021, they began to recover in Q2 2021.

In particular, cobalt prices are up ~20% in the last month and are higher than our Voisey's Bay investment case. In addition, both copper and iron ore have increased by over 20% year to date and our Mantos Blancos and LIORC revenues have benefitted from this.

It was also pleasing to see the coal markets turn during the second quarter, with coking coal now more than $200/t (from a low of ~$100/t) and thermal coal at ~$150/t, which should benefit our revenue in H2 2021. Infrastructure spending should continue to benefit iron ore, coking coal and copper whilst the longer-term fundamentals for cobalt and vanadium remain positive due to continued expected demand from electric vehicle and battery manufacturers.

Spot prices continue to remain higher than consensus prices in the near-term, and with our producing assets all in operation we expect a stronger performance from our portfolio in the second half of the year.

We look forward to updating the market in relation to our investment activity at the half year, and we remain busy advancing our pipeline in order to continue adding royalties and streams to our portfolio.'

For further information:

Notes to Editors
About the Company
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

¹ Portfolio Contribution
Portfolio contribution represents funds received or receivable from the Group's underlying royalty and stream related assets which is taken into account by the Board when determining dividend levels.

Portfolio contribution is royalty and stream related revenue net of stream inventory purchase costs, plus royalties received or receivable from royalty financial instruments carried at FVTPL and principal repayments received under the Denison financing agreement.

Cautionary statement on forward-looking statements and related information
Certain statements in this announcement, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Group's expectations and views of future events. Forward-looking statements (which include the phrase 'forward-looking information' within the meaning of Canadian securities legislation) include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, cash flow, requirement for and terms of additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of the Group including the outlook for the markets and economies in which the Group operates, costs and timing of acquiring new royalties and making new investments, mineral reserve and resources estimates, estimates of future production, production costs and revenue, future demand for and prices of precious and base metals and other commodities, for the current fiscal year and subsequent periods.

Forward-looking statements are based upon certain material factors that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by the Group in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. The material factors and assumptions upon which such forward-looking statements are based include: the stability of the global economy; the stability of local governments and legislative background; the relative stability of interest rates; the equity and debt markets continuing to provide access to capital; the continuing of ongoing operations of the properties underlying the Group's portfolio of royalties, streams and investments by the owners or operators of such properties in a manner consistent with past practice; no material adverse impact on the underlying operations of the Group's portfolio of royalties, streams and investments from a global pandemic; the accuracy of public statements and disclosures (including feasibility studies, estimates of reserve, resource, production, grades, mine life and cash cost) made by the owners or operators of such underlying properties; the accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties, streams and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any significant property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title.

A variety of material factors, many of which are beyond the Group's control, affect the operations, performance and results of the Group, its businesses and investments, and could cause actual results to differ materially from those suggested by any forward-looking information. Such risks and uncertainties include, but are not limited to current global financial conditions, royalty, stream and investment portfolio and associated risk, adverse development risk, financial viability and operational effectiveness of owners and operators of the relevant properties underlying the Group's portfolio of royalties, streams and investments, royalties, streams and investments subject to other rights, and contractual terms not being honoured, together with those risks identified in the 'Principal Risks and Uncertainties' section of our most recent Annual Report, which is available on our website. If any such risks actually occur, they could materially adversely affect the Group's business, financial condition or results of operations.

Forward-looking statements are provided for the purposes of assisting readers in understanding the Group's financial position and results of operations as at and for the periods ended on certain dates, and of presenting information about management's current expectations and plans relating to the future. Readers are cautioned that such forward-looking statements may not be appropriate other than for purposes outlined in this announcement. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions, that may be general or specific which could cause actual results to differ materially from those forecast, anticipated, estimated or intended in the forward-looking statements. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements made in this announcement relate only to events or information as of the date on which the statements are made and, except as specifically required by applicable laws, listing rules and other regulations, the Group undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. No statement in this communication is intended to be, nor should it be construed as, a profit forecast or a profit estimate.

This announcement also contains forward-looking information contained and derived from publicly available information regarding properties and mining operations owned by third parties. This announcement contains information and statements relating to the Kestrel mine that are based on certain estimates and forecasts that have been provided to the Group by Kestrel Coal Pty Ltd ('KCPL'), the accuracy of which KCPL does not warrant and on which readers may not rely.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Anglo Pacific Group PLC

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