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

Azarga Uranium Corp.

March 07, 2017 08:13 ET

EPA Issues Draft Permits for Dewey Burdock Project

GREENWOOD VILLAGE, COLORADO--(Marketwired - March 7, 2017) - AZARGA URANIUM CORP.'S (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURF) ("Azarga Uranium" or the "Company") wholly owned subsidiary, Powertech (USA) Inc. ("Powertech"), has received notice that the United States Environmental Protection Agency (the "EPA") has issued two draft permits for the Dewey Burdock Uranium Project (the "Project"). The issuance of the draft permits represents the completion of a major regulatory milestone for the Company and the Project. The draft EPA permits pertain to the Company's planned Class III and Class V Underground Injection Control ("UIC") activities and address all outstanding permit applications filed with the EPA for the Project.

"The EPA issuance of the draft Class III and Class V UIC permits represents a key risk reduction event for the Company and a significant step towards another major federal regulatory approval for the Project. The Company submitted applications for these permits as early as December 2008 and receipt of these draft permits is a substantial milestone for the Company, which moves the Dewey Burdock Uranium Project closer to development. The decision of the EPA to issue these draft permits further confirms the technical merits of the Project and establishes a path forward towards receipt of the final permits," said Blake Steele, President of the Company.

The draft Class III and Class V UIC permits represent one of three major regulatory agency approvals required for the Project. The Company has previously received a Source and Byproduct Materials License from the United States Nuclear Regulatory Commission ("NRC") for the Project. In addition, the South Dakota Department of Environment and Natural Resources staff has recommended approval of the major state permits; however, the hearings to finalize the state permitting process have been put on hold until the federal permits, namely those pertaining to the NRC and EPA, are issued. Once the Company receives its final Class III and Class V UIC permits, it will be able to resume the formal hearings to complete the state permitting process.

According to the EPA's public notice, the draft permits will be made available for public review and comment until 19 May 2017. The EPA's final permit decision will evaluate all public comments pertaining to the draft permits.

About Azarga Uranium Corp.

Azarga Uranium is a mineral development company that controls six uranium projects, deposits and prospects in the United States of America (South Dakota, Wyoming and Colorado) and the Kyrgyz Republic. The Dewey Burdock Uranium Project in South Dakota (the "Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and the Company is in the process of completing other major regulatory permit approvals necessary for development of the Project, including those from the Environmental Protection Agency.

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 regarding its disclosure and amendments thereto. 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 Company's receipt of the final Class III and Class V UIC permits from the EPA, the Company's receipt of the final state permits and the Company's continued efforts to obtain major regulatory permit approvals necessary for development of the Project. 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) the risk that the final Class III and Class V UIC permits are not received, (2) the risk that the state hearings cannot be resumed and therefore the state permits are not issued, (3) the risk that the Company cannot continue the permitting process, (4) the risk that such statements may prove to be inaccurate and (5) 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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