International Uranium Corporation
TSX : IUC

International Uranium Corporation

June 29, 2005 12:52 ET

IUC Appoints Mark Katsumata as Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 29, 2005) - International Uranium Corporation ("IUC" or "the Company") (TSX VENTURE:IUC) is pleased to announce the appointment of Mr. Mark Katsumata as Chief Financial Officer of the Company.

Mr. Katsumata is a Certified General Accountant with extensive experience in financial management and reporting for both Canadian and US public companies.

Mr. Katsumata articled in public practice for five years. Extensive involvement with financial statement audits of small to mid-level resource companies, including a number of well established companies, helped set the course for Mr. Katsumata's career. During the next decade, Mr. Katsumata was involved with two venture capital groups and held senior financial management positions for a number of public companies involved mainly in precious metals and oil and gas exploration.

Mr. Ron Hochstein, President of IUC, commented "We are very pleased to have Mr. Katsumata join our team. He brings with him a wealth of experience and financial expertise. We look forward to working with him and drawing upon his experience as we continue to grow IUC."

IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company owns approximately 56% of the outstanding shares of Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia and Russia.

Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. United States investors are advised that while the term "inferred" resources is recognized and required by Canadian regulations, SEC does not recognize that term. Investors are cautioned not to assume that all or any part of mineral deposits in this category will ever be converted into reserves.

ON BEHALF OF THE BOARD

Ron F. Hochstein, President

Contact Information

  • International Uranium Corporation
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    www.intluranium.com