Trading Symbol: SXR - The Toronto Stock Exchange TORONTO, Ontario and JOHANNESBURG, South Africa, May 25 /CNW/ - sxr Uranium One Inc. today submitted an application to the South Australian Environment Protection Authority for a commercial licence to mine and mill radioactive ore at its Honeymoon Project, South Australia. The company already holds a Federal Export License and State Mining Lease 6109 over the Honeymoon and East Kalkaroo project area. The Export Licence was granted on the approval of the Environmental Impact Study (EIS) in November 2001, and the Mining Lease was granted on the signing of Native Title Agreements with traditional landowners in February 2002. The company is in the final stages of completing a NI 43-101 compliant feasibility study on the Honeymoon Project due to be completed in June 2006, which will then be presented to the sxr Uranium One Board of Directors for approval and a commercial production commitment decision in the third quarter of 2006. The timing of this application for the licence to mine and mill radioactive ore is in the normal course of the project's development. 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 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 a 79% 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 note concerning forward-looking statements and disclosure of estimates of mineral resources: Statements in this release that are not historical facts are "forward-looking statements" involving known and unknown risk and uncertainties which are beyond the ability of the Corporation to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. To receive the Corporation's news releases by email, contact John Fraser, Corporate Communications at john(at)uranium1.com or Don Falconer, Investor Relations, at don(at)uranium1.com. The TSX has neither approved nor disapproved of the information contained herein. %SEDAR: 00005203E