GoviEx Uranium
CNSX : GXU

GoviEx Uranium

January 26, 2015 07:30 ET

GoviEx Uranium Provides Update on its Environmental and Social Impact Assessment for the Madaouela Uranium Project in Niger

VANCOUVER, CANADA--(Marketwired - Jan. 26, 2015) - GoviEx Uranium Inc. (CSE:GXU) announced today that the Environmental and Social Impact Assessment (ESIA) for the company's Madaouela Uranium Project is on track to be completed by the end of January and is expected to filed with the Nigerien Ministry of the Environment in February.

"The completion of the ESIA and receipt of environmental compliance certificate is the penultimate step towards qualifying for a mining permit at Madaouela. The Project team is fortunate to be advancing the Madaouela Project amidst an improving outlook for the uranium concentrate market," said GoviEx Chief Executive Officer Daniel Major.

GoviEx's field technicians have been actively collecting, processing and interpreting relevant data in close cooperation and supervision from the internationally recognized leader SRK Consulting (UK) Ltd. and Niger environmental consultant, Legeni S.A., for the past three years. This long lead-time is to fully account for the seasonality of the environment and thorough engagement with the local communities.

The Madaouela feasibility study, as outlined in the NI 43-101 Integrated Development Plan, defined a large, low operating cost, commercially viable uranium project in the prolific Arlit uranium-mining district of northern Niger.

The environmental compliance certificate on receipt with the Madaouela ESIA and the feasibility study is to be filed with the Minister in charge of mining for the Project's mining permit. GoviEx is targeting completion of the mine permitting process in 2015, so that the Madaoulea Project can be brought into near-term development within an improving uranium market as forecast by market consensus.

About GoviEx Uranium Inc.

GoviEx is a CSE-listed mineral resource company incorporated in British Columbia focused on the exploration and development of uranium properties. The company's principal objective is to become a significant uranium producer through the continued exploration and development of its Madaouela Project and its other uranium properties in Niger.

Visit GoviEx's website at www.goviex.com

Forward-Looking Statements and Disclaimer

This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to GoviEx at this time and involve known and unknown risks, uncertainties and other factors that may cause GoviEx's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting GoviEx's business and activities appears under the heading "Financial Risks and Management Objectives" of its MD&A for the interim period ended March 31, 2014 as well under the heading "Risk Factors" of its prospectus dated May 8, 2014 available at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that GoviEx will derive there from. In particular, no assurance can be given as to the future financial performance of GoviEx. The forward-looking information contained in this press release is made as of the date hereof and GoviEx undertakes no obligation to publicly update such forward looking information to reflect new information, subsequent or otherwise, except as may be required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.

As stated in its prospectus dated May 8, 2014, GoviEx intends to use the proceeds of its initial public offering together with existing working capital to fund the completion of the Madaouela ESIA.

Contact Information

  • Govind Friedland, Executive Chairman
    Daniel Major, Chief Executive Officer
    Bill Trenaman, Investor Relations
    +1 604 331-9882
    info@goviex.com