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

Azarga Uranium Corp.

May 14, 2015 08:30 ET

NRC Final License Remains Effective With No Stay Filed by Intervenors

GREENWOOD VILLAGE, COLORADO--(Marketwired - May 14, 2015) - AZARGA URANIUM CORP. (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURF) ("Azarga" or the "Company") and its wholly owned subsidiary Powertech (USA) Inc. ("Powertech") is pleased to announce that no stay has been filed against its United States Nuclear Regulatory Commission ("NRC") Final Source and Byproduct Materials License ("NRC Final License") for the Dewey Burdock Uranium Project within the period prescribed by the United States Atomic Safety and Licensing Board ("ASLB") in its decision of 30 April 2015.

The decision issued by the ASLB allowed that if the Oglala Sioux Tribe could identify specific cultural, historic or religious sites that are subject to immediate and irreparable harm by the project, they could, within 10 days of the ASLB decision, petition for a stay of the NRC Final License's effectiveness. The 10-day period has subsequently passed with no stay filing being made. As a result, the NRC Final License, which was issued 8 April 2014, remains effective.

Powertech, NRC staff, or intervenors may petition for review regarding the ASLB's rulings within 25 days of the decision (i.e. on or before 26 May 2015).

About Azarga Uranium Corp.

Azarga Uranium Corp. 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) - 12% legal ownership) and Black Range Minerals Limited ((ASX:BLR) - 19% legal ownership). The Dewey Burdock Project in South Dakota is the main initial development priority, which has received its Nuclear Regulatory Commission License and is in the process of completing all other major regulatory permit approvals necessary for operation of the project including those from the Environmental Protection Agency and the South Dakota Department of Natural Resources.

For more information please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

AZARGA URANIUM CORP.

Alexander Molyneux, CEO

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 and the NRC Final License. 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 expectations of management for development of the Dewey-Burdock 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, including the NRC Final License. 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 NRC Final License remains effective (2) that the risk that such statements may prove to be inaccurate and (3) 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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