URZ: North Rolling Pin Estimate

Resource Opportunities (06/07/2010)
"Uranerz Energy reported a resource estimate for the North Rolling Pin property in the Powder River Basin in Wyoming, located between the company's Nichols Ranch and Hank properties. The estimate outlines M&I 664,521-lb. uranium at a grade of 0.058% and inferred 32,522 lb. uranium at a grade of 0.042%. That resource is strategically located between the company's two most advanced projects, adding to their economic potential. The company could be within months of receiving the development permits for those projects, with the intent to move quickly to initiate in-situ recovery of uranium. The permits will allow Uranerz to begin construction of an ISR plant at the Nichols property and a satellite facility at Hank. The two units are expected to produce from 600–800 Klb./year.

Uranerz management team has considerable experience in ISR uranium recovery. The extensive land position holds potential for several more ISR facilities that could quickly boost this company to a substantial uranium producer. Securing the permits will remove a great deal of investor uncertainty and should see an immediate upward rerating of the value."

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