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WKN: A0KFH8
ISIN: US9172481064
Symbol: G6C
Urex Energy Corporation Reports Sampling Results on Argentine Uranium Property
2008-02-07 06:00 ET - News Release
Company Website: http://www.urexenergy.com
RENO, Nev. -- (Business Wire)
Urex Energy Corporation (the “Company” or “Urex”) (OTCBB:URXE) (GER:G6C) reports assay highlights from a recent surface sampling program initiated in December 2007 on the Company’s Cerro Solo area uranium properties.
Conglomerate and sandstone rock outcrops of the Lower Cretaceous Las Adobes Formation were sampled and analysed for a 68 element profile including uranium at American Assay Laboratories Inc. of Sparks, Nevada using the XRF method (X-ray fluorescence). The Las Adobes Formation hosts uranium mineralization within the district including Comision Nacional de Energia Atomica’s (CNEA) Cerro Solo Uranium Deposit.
The best results were received from two outcrops located about 20 meters apart that showed the highest measurements on a hand-held Super Spec RS 125 Spectrometer manufactured by Radiation Solutions Inc.
Outcrop 1 was sampled horizontally along layering on a 0.3 meter spacing (continuous samples) and yielded 5698 ppm U (0.672 wt-% U3O8 or 13.44 lbs U3O8/short ton), 103 ppm U, 36 ppm U and 82 ppm U.
Outcrop 2 was also sampled horizontally along layering on a 0.3 meter spacing (continuous samples) and yielded 6656 ppm U (0.785 wt-% U3O8 or 15.70 lbs U3O8/short ton), 2036 ppm U (0.240 wt-% U3O8 or 4.80 lbs U3O8/short ton) and 744 ppm U (0.088 wt-% U3O8 or 1.755 lbs U3O8/short ton).
“Urex intends to continue to aggressively explore its Argentine uranium properties and, while these results are limited in scope, we are excited by the intensity of the uranium grades,” stated Richard Bachman, Urex’s President.
About Urex Energy Corporation
Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.
Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.’s La Jara Mesa and Melrich uranium deposits. Between 1950 and 1978 the Grants Mining District produced 270 million pounds of uranium oxide which ranks it as the most prolific uranium district in the United States.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (1) “Urex intends to continue to aggressively explore its Argentine uranium properties and, while these results are limited in scope, we are excited by the intensity of the uranium grades,” stated Richard Bachman, Urex’s President; and (2) Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico.
It is important to note that actual outcomes and Urex’s actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) Urex’s ability to obtain funding and maintain adequate working capital requirements to engage contractors and equipment to complete planned exploratory programs; (2) the ability of contractors to complete planned exploratory programs according to scheduled timelines; (3) the ability of Urex and its contractors to cope with labor shortages, equipment malfunctions, adverse weather conditions and to obtain necessary permits and approvals; (4) changes in operating costs, economic conditions and conditions in the precious metals and energy industries; (5) litigation, legislation, environmental, judicial, regulatory, political and competitive developments in areas in which Urex operates; and (6) reserves, results of exploration, capital costs, drilling programs and mine production costs differing from Urex’s forecasts and/or expectations. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company’s periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.
Contacts:
Urex Energy Corporation
Brad Long, Investor Relations, 866-493-(URXE) 8793
info@urexenergy.com
www.urexenergy.com
or
Al Kau, 888-795-3166
al@thesearchforvalue.com
Source: Urex Energy Corporation
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