Trading Symbol (TSXV: UUU)
VANCOUVER, Feb. 27 /CNW/ - Urasia Energy Ltd. ("Urasia") is pleased to
announce it has entered into an agreement for the supply of uranium
concentrates from its Akdala uranium mine in the Republic of Kazakhstan. The
Company has a 70% interest in the Betpak Dala Joint Venture, which has a 100%
interest in the Akdala uranium mine 'Akdala'.
Akdala is expected to reach full production of 2.6 million pounds U3O8 in
2006. The contract is for the purchase of approximately 200,000 pounds U3O8
for delivery in 2006 to a major Western utility company. As a new producer in
the industry, from Central Asia, the Company is pleased to have finalised its
first contract with a Western utility, and the first new contract since it
acquired its interest in the Akdala uranium mine in November 2005.
Urasia Energy is a Canadian-based uranium producer that offers investors
exposure to lowcost, uranium production and growth. The Company plans to
create shareholder value by focusing on development and operation of low-cost,
in-situ leach uranium projects in Central Asia.
Urasia is listed on the TSX Venture Exchange, trading under the
symbol UUU.
On behalf of Urasia Energy Ltd.
"Phillip Shirvington"
President and Chief Executive Officer.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of UrAsia Energy Ltd. Forward-looking statements, specifically
those concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Company's filings with the
appropriate securities commissions.
