Uranium Resources, Inc. (NASDAQ: URRE) (“URI” or the “Company”), announced that John H. Pfahl was elected as a director of URI at its annual meeting held on June 4, 2012, succeeding Leland O. (Lee) Erdahl, who did not seek reelection after 18 years of outstanding service to the Company.
Paul K. Willmott, Executive Chairman of the Board of URI, commented, “John’s extensive experience in all facets of the mining industry will prove an invaluable asset to URI. Part of our strategy has been and will continue to be evaluating opportunities to grow our asset base in New Mexico and Texas. We believe his experience in commercial due diligence, finance negotiations and mergers and acquisitions will make John an integral member of the URI team.”
Mr. Pfahl has technical and commercial experience in the mining sector across a diversified range of mineral commodities and geographic regions. He is an Associate with Resource Capital Funds, an investment adviser with approximately $1.9 billion in assets under management and whose clients are mining-focused private equity funds. Mr. Pfahl has managed and participated in active investments in companies with projects ranging from late stage exploration through production. Previously, he was a consultant in the environmental sector with Newfields Boulder LLC. Mr. Pfahl holds a Bachelor of Science degree in Engineering and a Master of Engineering (Master of Mines) degree from the Colorado School of Mines.
Commenting on Lee Erdahl’s service, Mr. Willmott added, “Lee has provided invaluable leadership over the years and will be sorely missed. Drawing on decades of experience in several different capacities including CEO of a number of mining companies, Lee helped guide URI through several market cycles. We wish Lee the very best and thank him for his years of committed service to URI and our shareholders.”
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 1 million pounds of uranium per year. The Company acquired these properties over the past 20 years along with an extensive information database of historic drill hole logs, assay certificates, maps and technical reports. None of URI’s properties is currently in production.