Azarga Uranium Corp.
TSX : AZZ
FRANKFURT : P8AA
OTC PINK : PWURD

Azarga Uranium Corp.

February 16, 2015 20:00 ET

Azarga Uranium Announces Richard Clement's Retirement as CEO and Appointment as Deputy Chairman

GREENWOOD VILLAGE, COLORADO--(Marketwired - Feb. 16, 2015) - AZARGA URANIUM CORP. ("Azarga" or the "Company") (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURD) announces the retirement of Richard Clement as Chief Executive Officer ("CEO"), President and Corporate Secretary and his subsequent appointment as Deputy Chairman of the Company's Board of Directors.

Alexander Molyneux, Chairman stated, "I'm sure I can say I am speaking on behalf of all of our employees and directors when I say that we are deeply grateful for Dick's tireless efforts over the past ten years in identifying and progressing our flagship Dewey Burdock project. We certainly wish him an enjoyable retirement from his former role as CEO, whilst at the same time are thankful Dick will stay on in the capacity of Deputy Chairman to guide us all in our mission to see this company into uranium production."

Mr. Clement stated that, "Dewey Burdock is the highest grade ISR project among its North American peers and I am proud to have been a part of management of this Company and look forward to my continued role as Deputy Chairman."

Mr. Clement's duties as CEO will be taken on by Mr. Molyneux in addition to his existing duties as Chairman and the role of Corporate Secretary will be taken on by Blake Steele in addition to his existing duties as Chief Financial Officer.

About Azarga Uranium Corp.

Azarga Uranium is a mineral development company that owns six uranium projects, deposits and prospects in the USA (South Dakota, Wyoming and Colorado) and Kyrgyzstan together with investment holdings in Anatolia Energy Limited (ASX:AEK - 11%) and Black Range Minerals Limited (ASX:BLR - 17%). The Dewey Burdock Project in South Dakota is the main initial development priority, which has received its final NRC License.

For more information please visit www.azargauranium.com.

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Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements may include, but are not limited to, statements with respect to the future financial or operating performance of the Company and its mineral projects, the estimation of mineral resources, the timing and amount of estimated future production and capital, operating and exploration expenditures. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: (1) any change in the law, regulatory or political environment which would negatively affect the Company's operations or its ability to obtain all necessary environmental and regulatory approvals, licenses and permits, and (2) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's most recent MD&A filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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