URA Ura Holdings

TIDMURA

RNS Number : 1259K

Uranium Resources PLC

05 July 2017

Uranium Resources plc

("Uranium Resources" or "the Company")

Estes Loans and Licence Update

Uranium Resources announces that it is in discussions with its major shareholder Estes Limited ("Estes") which has to date provided unsecured loans to the Company totalling US$1.8 million which are now fully drawn down. Estes has confirmed to the Board that it remains supportive of the Company and the Board's strategy, and will fund ongoing working capital requirements while the Company reviews alternative financing arrangements.

The Directors also announce that the Company has been granted a prospecting licence (the "Licence") covering the Mtonya project area ("Mtonya") by the Tanzanian Ministry of Energy and Minerals. The Licence is subject to the provisions of the Tanzanian Mining Act of 2010 and is valid for 48 months to be followed by standard renewals.

The Company also continues discussions with a potential strategic partner for the development of Mtonya, however there can be no assurance that these discussions will lead to a successful outcome for the Company. Given the continued depressed state of the uranium market the Board is also assessing a number of options for the future development of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.uraniumresources.co.uk or contact:

 
 Alex Gostevskikh   Uranium Resources   Tel: +1 778 938-7631 
                     plc 
 Matthew Johnson    Northland Capital        Tel: +44 (0)203 
  / David Hignell    Partners Ltd                   861 6625 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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