Uranium One Announces Record Quarterly Production and Significant Increase in South Inkai Resources

About this update from Uranium One Mining Corp.

[{"type":"text","content":"\n\n\n\nTrading Symbols: UUU - Toronto Stock Exchange, JSE Limited (Johannesburg\nStock Exchange)\n\n\nVANCOUVER and JOHANNESBURG, July 9 /CNW/ - Uranium One Inc. today\nannounced record production results from its operations in Kazakhstan during\nthe second quarter of 2009, as well as an updated NI 43-101 compliant resource\nestimate for the South Inkai Uranium Mine which shows a significant increase\nover the previous resource estimate.\n\n\nProduction and Sales\n\n\nDuring the second quarter of 2009, the Company's operations achieved\nrecord quarterly attributable production of 833,900 pounds U(3)O(8). This\nrepresents an 18% increase over attributable production during the first\nquarter of 2009 of 708,500 pounds U(3)O(8).\n\n\nTable 1 - Uranium One Attributable Production (U(3)O(8) pounds)\n\n-------------------------------------------------------------------------\n Q2 2009 Q1 2009\n-------------------------------------------------------------------------\nAkdala 438,800 445,800\n-------------------------------------------------------------------------\nSouth Inkai 376,800 245,100\n-------------------------------------------------------------------------\nKharasan 18,300 7,600\n-------------------------------------------------------------------------\nTotal 833,900 708,500\n-------------------------------------------------------------------------\n\n\nIn line with the Company's scheduled deliveries under long-term\ncontracts, attributable sales volumes during the second quarter of 2009 were\n385,000 pounds U(3)O(8). Uranium One's attributable sales volumes during the\nsix months ending June 30, 2009 were 1,265,600 pounds U(3)O(8).\n\n\nOperations\n\n\nAkdala Uranium Mine\n\n\nYear to date production from Akdala remains in line with expectations.\nDuring the second quarter, the concentration of uranium in solution averaged\napproximately 81 mg per litre and the average flow rate from the well fields\nwas approximately 1,385 cubic metres per hour.\n\n\nThe well installation program for 2009 commenced on schedule during the\nsecond quarter, with 58 wells completed by the end of June. The program\nprovides for the installation of 164 wells to achieve the production targets\nfor the year.\n\n\nSouth Inkai Uranium Mine\n\n\nThe ramp-up in production at South Inkai continues to be in line with\nexpectations. Blocks 5, 6 and 7 are...

More updates from Uranium One Mining Corp.