Plateau Uranium Inc.
TSX VENTURE : PLU
FRANKFURT : QG1

Plateau Uranium Inc.

April 26, 2016 07:00 ET

Plateau Uranium Commences Environmental Baseline Permitting Work Following Positive Government Meetings

TORONTO, ONTARIO--(Marketwired - April 26, 2016) - Plateau Uranium Inc. ("Plateau Uranium" or the "Company") (TSX VENTURE:PLU)(FRANKFURT:QG1)(US OTC:PLUUF) is pleased to announce that the Company has engaged experienced environmental consultant group Asesores y Consultores Mineros SA ("ACOMISA") to commence the enhanced environmental baseline study work required for future permitting and Environmental Impact Assessment (EIA) studies. This follows constructive meetings with government officials from the Mining Commission of the Peruvian Congress, Mines and Energy Ministry and additional mining and nuclear authorities towards establishing future uranium production in the country.

Ted O'Connor, CEO of Plateau Uranium, commented: "Significant progress has been made in Lima meetings between management of Plateau Uranium and members of the Mining Commission of the Peruvian Congress, the Minister and senior leaders at the Ministry of Mines and Energy ("MEM"), the leader of the Peruvian Institute of Geology, Mines and Metallurgy ("INGEMMET") and representatives of the Peruvian Institute of Nuclear Energy ("IPEN"). The encouragement and cooperation received at every level is highly indicative of Peru's support for future uranium production in the country. We are pleased to be working in such a favourable, mining-friendly jurisdiction with clear mining regulations and permitting procedures in place, and supportive central government and ministries.

As a result of the positive government support, the Company has engaged ACOMISA to commence the next level of environmental baseline work on the permitting path through pre-feasibility and feasibility studies as we progress towards production at our Macusani project."

Peruvian Government Meetings

The Company has been advancing uranium production permitting and regulation discussions with the Peruvian mining and nuclear authorities since mid-2015 with a committee formed holding monthly meetings. In addition to Plateau Uranium company representatives, the committee is chaired by the leader from INGEMMET, and has members from MEM and IPEN.

Since early November 2015, Company executive and management have visited and met with various administrative and political authorities in Lima, Peru, including the Mining Commission of the Congress of the Republic, MEM, IPEN, INGEMMET, and with private mining construction companies COSAPI and STRACON G&M, with the aim of initiating pre-feasibility level work and the EIA study.

Notable meetings were held with:

  • Mrs. Rosa María Ortiz, Minister of Energy and Mines, and Mr. Guillermo Shinno, Engineer, Vice-Minister of Mines;
  • Mrs. Susana Vilca, President of INGEMMET;
  • Mrs. Susana Petrick, President of IPEN;
  • Marcos Villegas, Engineer, General Director at MEM; and
  • Mrs. Cecilia Chacon and Mr. Néstor Valqui - Members of the Congress of the Republic of Peru.

The Peruvian officials showed a special interest in the Company's Macusani project and offered their assistance to support the project through the regulatory and legal process towards production.

The Minister of Energy and Mines, Mrs. Rosa María Ortiz, stated that she was very pleased with the discovery of existing uranium potential in Peru, including the work completed to date at the Macusani project to define Measured & Indicated resources of 51.9 Mlbs U3O8 plus additional Inferred resources of 72.1 Mlbs U3O8. Moreover, the potential inclusion of lithium resources in a future mining production scenario was looked upon favourably as a way to bring Peru towards the forefront of clean energy generation and storage worldwide.

As a direct result of the encouraging support from these meetings, Plateau Uranium will soon start the EIA for the Macusani project, and have engaged ACOMISA to commence enhanced environmental baseline studies as appropriate in support of the EIA.

Environmental Monitoring and Permitting Work

The Company has engaged ACOMISA to enlarge and enhance the existing environmental base line study work started prior to and during exploration activities to date. The enhanced environmental work will cover all established uranium deposit areas with additional sample point sites and continuous periodic monitoring. This forms the initial step towards completing an EIA study that is necessary to allow the Company to bring the Macusani plateau uranium project into production.

ACOMISA has already completed a site visit to the Macusani project and has designed a more complex network of monitoring points to cover the known deposits and surrounding areas controlled by the Company. ACOMISA personnel and Company geoscientists are currently in the field on the project and have just commenced work. The objectives of the visit and initial work are to hold meetings with the affected local communities, to make biological and archaeological observations, to determine the final positions of the monitoring points for the the base line study and to start the monitoring program.

The network of monitoring points chosen and designed by ACOMISA will establish the present environmental baseline situation across the project area. Samples will consist of rock, soil, water (river, lacustrine, bogs and underground), farming/grazing land, communal roads, and air quality. The monitoring and environmental work proposed by ACOMISA will begin immediately once the monitoring points have been finalized with the assistance of the local communities of Isivilla, Corani and Tantamaco.

About ACOMISA

ACOMISA was formed in 1993 in Lima by Ing. David Romero Rios and has worked since its inception for small, medium and large mining companies and projects in Peru, providing a variety of services to the mining industry. Mr. Romero Rios is President of the Geologist's section of the Peruvian Association of Engineers and was also instrumental in helping the Peruvian government establish their environmental regulations for mining and exploration. ACOMISA's expertise covers all aspects and disciplines associated directly and indirectly with the mining industry in Peru, including: surveying, geodesy, cartography, geology, geotechnical engineering, civil engineering, mining services, archeological studies, environmental monitoring and permitting services, and is active in urban and rural areas throughout Peru.

ACOMISA employee specialists and associates cover various disciplines and include: mining engineers, chemical engineers, metallurgists, environmental scientists, hydrologists, geologists, sociologists, civil engineers, biologists and archeologists, and ACOMISA has vast experience permitting mining projects.

About Plateau Uranium

Plateau Uranium Inc. is a Canadian uranium exploration and development company focused on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, a significant and growing lithium resource and mineral concessions that cover over 910,000 hectares (910 km2) near significant infrastructure. Plateau Uranium is listed on the TSX Venture Exchange under the symbol 'PLU' and quoted on the US OTC under the symbol 'PLUUF' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 40,639,863 shares outstanding. For more information please visit www.plateauuranium.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release includes certain forward-looking statements concerning the future performance of Plateau Uranium's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "would", "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, general business, economic, competitive, political and social uncertainties and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Plateau cautions against placing undue reliance thereon. Neither the Company nor their management assume any obligation to revise or update these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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