Rights Offering to Existing ShareholdersURI plans to conduct a Rights Offering within 60 days of shareholder approval of the reverse split. The Rights Offering will provide holders of the Company’s common stock a non-transferrable right to purchase additional shares in proportion with the number of shares held at the record date for the offering, which the Company’s Board will set following shareholder approval of the reverse split. The Rights Offering is a means to raise no greater than $13 million in additional capital to support the Company’s activities. By offering to URI shareholders the rights to purchase additional shares of common stock on a pro-rata basis, the Rights Offering permits shareholders to maintain their percentage ownership in the Company. The Company and RCF also entered into a standby purchase agreement pursuant to which RCF agreed, subject to certain conditions, to participate in the proposed Rights Offering and to exercise rights so that total proceeds to the Company will equal at least $8.0 million. This news release does not constitute an offer of any securities for sale or a solicitation of an offer to buy any securities. 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.
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, and 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.Uranium Resources routinely posts news and other information about the Company on its website at www.uraniumresources.com. Safe Harbor 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,” and other similar words. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including, but not limited to, statements relating to the reverse stock split, the Bridge Financing, the Rights Offering, RCF’s participation in the Rights Offering, mineralized uranium materials and production capacity of mining operations planned for properties in South Texas and New Mexico are forward-looking statements. 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, whether the Company’s shareholders approve the charter amendment, whether the Company initiates and completes the Rights Offering, the Company’s compliance with the terms and conditions set forth in the Bridge Financing documents, the spot price and long-term contract price of uranium, weather conditions, operating conditions at the Company’s mining projects, government regulation of the mining industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, timely receipt of mining and other permits from regulatory agents and other factors which are more fully described in the Company’s documents filed 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.