Uranium Resources, Inc. (NASDAQ: URRE) (URI), announced today that its President, Chief Executive Officer, Chief Operating Officer and Director, Donald C. Ewigleben, tendered his resignation effective September 28, 2012, to pursue other opportunities.
The Board of Directors has named current Board member Terence J. Cryan as Interim President and CEO. The Board will immediately begin a search for a replacement CEO.
Paul K. Willmott, Chairman of the Board, commented, “We believe URI is well positioned as a leading uranium development company in the U.S. While we are addressing near-term challenges, we have strong confidence in the Company’s future given our extremely qualified and experienced team, our significant holdings of in-place mineralized uranium material and our Churchrock Section 8 project, that we continue to advance.”
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 has over 206,600 acres of uranium mineral holdings and 152.9 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. URI has an additional 1.3 million pounds of in-place mineralized uranium material in Texas and South Dakota. 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.
URI’s strategy is to fully develop its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium assets or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.