Uranium Resources - research shop

From the website......www.uraniumresources.co.uk

Investing in tomorrow's fuel today
Uranium Resources Plc listed on AIM in 2005 to acquire a portfolio of uranium deposits in Southern Africa and Australia in order to take advantage of the rising demand for uranium.

This increased demand is the result of the long-term shift in the energy market that has bought nuclear power back into favour as world demand for clean electricity increases.

Uranium Resources has assembled a core management team with a strong track record in both uranium project identification, project development and project financing.

Since listing, Uranium Resources has acquired its first uranium prospecting licences covering 2,500 sq km of Tanzania in a highly prospective area for uranium. It continues to explore other opportunities to expand its portfolio.

Tanzania
Uranium Resources acquired four uranium prospecting licences in Tanzania in 2005 - one of the most exciting regions in the world to prospect for deposits of this mineral.

The licences, covering an area of approximately 2,500 km2, represent one of the largest uranium exploration land packages in Tanzania, a country with comparatively low uranium exploration costs.

The area has promising geology with the German company Uranerzbergbau GmbH ('Uranerz') identifying the area as highly prospective for uranium during reconnaissance exploration between 1978 and 1982.

Three of the licences are located in the Mkuju River area in southern Tanzania, an area recognised by Uranerz as one of the two most important uranium targets in Tanzania. The licences will make the Company the largest land holder in the Mkuju River area. The fourth licence, the Makutapora Prospect in Central Tanzania, targets uranium in calcrete.

Suitable rock formations in the Tanzanian Karroo formation together with the discovery of uranium mineralization, makes this parcel of land very prospective and the size of it may be an ideal joint venture proposition for a major company seeking land for exploration.

Uranium Resources has assembled an African-based exploration team to carry out field work and a geophysical data review.

Geology of the Mkuju River Area, Southern Tanzania
The Mkuju River licences cover over 2,000km2 of Karroo sediments within the Luwegu and Ruhuhu Basins. Uranerz identified outcropping uranium in the Mkuju River area. Uranium Resources' leases cover the prospective Karroo sediments along strike to the south from these outcrops as well as analogous positions to the west.

Uranium deposits of the sandstone-type targeted in the Luwegu Basin comprise more than 30% of currently known uranium deposits in Africa. In Africa, these types of deposits host in excess of 300,000 tonnes of U3O8.

Geologically the area consists of Permian age Karroo sedimentary rock. The Karroo Formations occur throughout southern Africa and drew much attention from uranium explorers during the 1970s and early 1980s. A number of discoveries were made and a few taken to full feasibility. The one drawing the most attention at present is the Kayelekera deposit 200km to the west in Malawi where Paladin Resources of Australia is undertaking a bankable feasibility study to verify the previous results of the CEGB.

The mineralisation is associated with remobilised uranium within sandstone beds, known as "roll-fronts". Although narrow, the roll-fronts are typically high-grade and extend longitudinally. They are also typically stacked which makes mining them more economic.

Geology of Makutapora, Central Tanzania
The Makutapora licence covers a palaeo-channel that contains sediments and calcrete. Previous explorers reviewed samples from water bores in the Makutapora area and identified a 500ppm U3O8 assay in calcrete associated with a groundwater uranium anomaly. Additional assays up to 285 ppm U3O8 have been reported from shallow trenches within calcrete layers in the Mbuga muds at Makutapora and in adjacent areas. None of these anomalies were followed-up by drilling.

Management
Uranium Resources has appointed Drake-Brockman Geoinfo Pty Ltd to manage the exploration programme. After a review of all of the historical literature and radiometric data, a detailed exploration programme will be formulated.

The review will cover existing geological and geophysical information including geosurvey radiometric maps, Landsat images and basic topographic information. Uranium Resources also intends to acquire 128 channel spectrometric aircraft-borne Hymap data over the tenement areas while a ground survey will be conducted to verify data and allow the collection of samples to calibrate the Hymap data.

Drake-Brockman Geoinfo Pty Ltd is the operating company of Dr Joseph Drake-Brockman, a specialist in uranium exploration in Australia and Tanzania for more than 20 years. He has specific knowledge of the project area as he participated in the initial exploration of the Mkuju Uranium in Sandstone Project immediately adjacent to ground held by Uranium Resources in Tanzania. His doctorial thesis was written on the sedimentology and mineralogy of U-Cu and Pb-Zn in sandstones. He also has extensive experience in sandstones from the Frome Basin, Australia and the Tanzanian Karroo.

Assets
Uranium Resources intends to secure a number of significant uranium assets in order to create shareholder value. Each potential target will be assessed by the board as to whether it fits the investment criteria of the Company.

It is the intention of the board to focus on Africa and Australia although if an asset is identified beyond this geographical sphere, it will be evaluated accordingly.

Currently the Company has four uranium prospecting licences in Tanzania covering an area of approximately 2,500 km2, which represents one of the largest uranium exploration land packages in Tanzania.

AND.........

Acquisition of additional tenements in Karoo Basin
23 November 2006
Highlights

Uranium Resources to acquire a 42.5% interest in tenements in the prospective Karoo Basin sediments in Tanzania.
The tenements cover 3,774 km2 and increase the Company's total tenement holding in Tanzania to 7,640 km2. The new tenements build Uranium Resources' strong position as one of the largest exploration land holders in the Karoo Basin in southern Tanzania.
Summary

Uranium Resources is pleased to announce that it has agreed to acquire additional uranium exploration tenements in the Karoo Basin in Tanzania. The new tenements cover a total area of 3,744 km2 and bring the Company's total tenement holding in Tanzania to 7,640 km2. The acquisition is conditional on the tenements being granted by the issuing authority in Tanzania.

Uranium Resources and Western Metals Ltd (ASX:WMT; www.westernmetals.com.au) have entered into a joint venture to explore the new tenements. Uranium Resources and Western Metals each hold a 42.5% interest in the new tenements with the remaining 15% held by Tanzanian interests. Western Metals will be the project manager for the exploration with both Uranium Resources and Western Metals funding exploration on an equal basis. The Tanzanian interests remain free carried until the commencement of feasibility on any potential mining project.

The tenements were selected because they overlie interpreted prospective Karoo Basin sediments and each tenement contains radiometric anomalies defined by historic airborne surveys. The Karoo Basin hosts known uranium deposits throughout southern Africa including Paladin Resources' Kayelekera deposit located 250 km to the west of the joint venture area. Initial work on the new tenement area will include detailed interpretation of historic radiometric data and generating targets for field programs.

Recent exploration conducted on behalf of Uranium Resources on the Henri anomaly in the Karoo Basin of southern Tanzania, has identified high grade uranium mineralisation in trenches with uranium assay results ranging from 17 ppm U to 7,232 ppm U (0.7% U)*.

Further field work is presently being conducted in the Henri area and further results will be announced as they become available.

*All results are in ppm uranium with analysis method accuracy quoted at + 100 ppm U. For conversion to U3O8 the uranium ppm values should be multiplied by 1.18.

Contacts:
James Pratt Uranium Resources plc Tel: 07747 832 043
Ross Warner Uranium Resources plc Tel: 07760 487 769
Hugh Oram Nabarro Wells & Co. Limited Tel: 020 7710 7400
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477