Niger Uranium Limited
25 January 2008
For Immediate Release 25 January 2008
Niger Uranium Limited
('Niger Uranium' or the 'Company')
Nigerien permits awarded, drilling commences
Board changes to progress project development
At the time of Admission, the Company had agreed to acquire the Nigerien
exploration properties of NWT Uranium Inc ('NWT') and the Nigerien exploration
properties of UraMin Inc ('UraMin'). The combined exploration prospects (the
'Prospects') cover a total of 1,673,644 acres (equivalent to 6,773 square
kilometres) and are all located in the Tim Mersoi basin in Niger. The Tim Mersoi
basin is a recognised uranium province.
The transfer of the Prospects to the Company was subject to the authorisation of
the Niger State Minister of Mines. The Directors are pleased to announce that
the transfer of all the exploration properties to the Company has now been
completed.
Following completion of the permit transfers to the Company and the commencement
of drilling, the Board has reviewed its needs going forward and has concluded
that in the next stage of the Company's development, the Company should appoint
an African-based chief executive officer. Accordingly, in the short term, Ian
Stalker will assume the chief executive responsibilities pending the appointment
of a full time African-based chief executive officer. Marek Kreczmer will remain
on the Board as a non-executive director.
Contacts:
Niger Uranium Limited Tel: + 27 82 404 36 37
Ian Stalker, Executive Deputy Chairman and
Chief Executive Officer
Beaumont Cornish Limited Tel: + 44 (0) 20 7628 3396
Roland Cornish / Michael Cornish
Haywood Securities (UK) Limited Tel+ 44 (0) 20 7031 8011
Thomas Beattie
Financial Dynamics Tel + (0) 20 7831 3113
Ben Brewerton
Ed Westropp
ENDS
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