Trading Symbol: SXR - Toronto Stock Exchange, Johannesburg Stock Exchange
TORONTO, and JOHANNESBURG, Sept. 19 /CNW/ - sxr Uranium One Inc.
("Uranium One" or the "Corporation") (TSX and JSE: SXR) is pleased to announce
that plant commissioning has commenced at the Dominion Uranium Project, one
quarter ahead of the Corporation's previously anticipated schedule.
Plant substations and transformers were energized on August 31, 2006. The
boiler is currently being commissioned and a program of commissioning the
remaining plant equipment is underway. Construction of the thickeners is being
completed and the first autoclave has been delivered ahead of schedule.
The crushing circuit is currently operational and will be integrated into
the uranium processing circuit. The existing gold carbon in leach plant has
been treating ore from Bonanza South and producing gold on a batch basis
throughout 2006.
The workforce at Dominion now totals 1,300 employees with an additional
700 contractor employees engaged in construction of the plant. Recruitment and
training of staff to man the plant on a permanent basis is underway.
Neal Froneman, CEO of Uranium One, commented:
"Dominion is moving smoothly towards start-up of production. The
commencement of plant commissioning is a significant milestone and I am
pleased to see that the team has been able to meet this milestone one quarter
ahead of schedule. We remain confident that we are well on track to achieve
our objective of hot commissioning in the first quarter of 2007."
About sxr Uranium One
sxr Uranium One Inc. is a Canadian uranium and gold resource company with
a primary listing on the Toronto Stock Exchange and a secondary listing on the
JSE Limited (the Johannesburg stock exchange). The Corporation owns the
Dominion Uranium Project in South Africa and the Honeymoon Uranium Project in
South Australia, as well as a number of exploration projects. The Corporation
holds an approximate 71% interest in Aflease Gold Limited, which owns the
Modder East gold project in South Africa. Through a joint venture with
Pitchstone Exploration Ltd., the Corporation is also engaged in uranium
exploration activities in the Athabasca Basin of Saskatchewan.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
legislation. All statements other than statements of historical fact included
in this release including, without limitation, statements regarding potential
mineralization and reserves and future plans and objectives of Uranium One,
are forward-looking statements (or forward-looking information) that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors could cause actual results to differ materially from Uranium One's
expectations. Such factors include, among others, the actual results of
exploration activities, actual results of reclamation activities, the
estimation or realization of mineral reserves and resources, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
availability of capital required to place Uranium One's properties into
production, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of commodities, possible
variations in ore grade or recovery rates, failure of plant, equipment or
processes to operate as anticipated, accidents, labour disputes and other
risks of the mining industry, delays in obtaining governmental approvals,
permits or financing or in the completion of development or construction
activities, Uranium One's hedging practices, currency fluctuations, title
disputes or claims limitations on insurance coverage, as well as those factors
discussed under "Risk Factors" in Uranium One's Annual Information Form and
Management's Discussion and Analysis as filed with securities regulatory
authorities in Canada. Although Uranium One has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended.
There can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Uranium One does not undertake to
update any forward-looking statements that are included herein, except in
accordance with applicable securities laws.
To receive the Corporation's news releases by email, please register on
Uranium One's website - www.uranium1.com
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