Information of the Board regarding the latest license progress
Basel, 16th March 2011 Announcement
The Board announces, that the negotiations regarding the license renewal in Central Africa (CAR), region Bakouma, running with interruptions for months, still could not be completed successfully.
Uranio emphasizes the significance, that neither a negative nor a positive result of conversations is prejudiced. Strong influence in terms of delays and the continued situation of open decision had and have dispute with a previous, now superseded director of the local subsidiary on one side, but also the end of January held presidential elections in CAR on the other side. Uranio expects, empowered by the decision makers in the political field given information, a decision within the next 3 months.
Due to the continuing uncertain situation in CAR the company addresses its focus on the concessions Olta, Chepes and Santa Rosa in Argentina.
Argentina has two pressurized water reactors which produce about 10% of electricity in the country. The country has a history of uranium exploration and mining of uranium. To the west of the country numerous occurrences have been reported. Production at the mines Sierra Pintada and Los Gigantes (east of Uranio´s areas) are among the largest. Areva reportedly takes account of establishing an uranium mine and mill in the province Chubut where should be an occurrence of 4000 tons of U308. Argentina has two uranium processing sites and the stately Comision Nacional de Energia Atomica (CNEA) operates a plant for enrichment by gaseous diffusion in Pileaniyeu, as well as a plant for production of fuel rods in the vicinity of Buenos Aires.
The Chepes as well as the Santa Rosa areas have been carried out a due-diligence-examination in a joint venture by Mercator Gold PLC.
The areas Chepes and Olta are placed in the province La Rioja and the goal are stored uranium mineralization in sandstone and calcrete within large mapped paleo-channels.
Santa Rosa is an uranarea stored in calcret-figurs with widespread uranium occurences. The area Santa Rosa has the potential for high tonnages of mineralization, compareable with the Yeelirrie U-V deposits in West Australia. Uranio del Sur, the subsidiary of Uranio AG, has operated a programm for excavation, surface sampling and radiometric studies, as well as limited investigations of the soil radon. This small programm has lead to the discovery of several new uranium occurrences. A selective chip sample out of the calcret area in Santa Rosa manifests 0,6 % U and 0,14 % V. The extent of this zone is uncertain, as the training is poor, but it could be extensive.
Further exploration will probably include radiometric studies made of the air, ground radiometric studies with radon and drilling.
The Board of Uranio AG
David Risbey
Disclaimer:
This document was prepared by Uranio AG. The opinions stated herein are those of Uranio AG at the time of publication and are subject to change at any time. The document is only for the purpose of information and use by its recipient. It is neither an offer nor an invitation to purchase or sell Uranio AG shares. A reference to the performance of the past shall not be understood as an indication of future developments. The information and analysis contained in this publication have been compiled from sources that are deemed to be reliable. However, Uranio AG gives no guarantee with regard to their reliability and completeness and rejects any claim for damages that may be the result of use of this information.