Western Uranium Corporation

Western Uranium Corporation

September 16, 2015 09:51 ET

Western Uranium Corporation Provides Results of Annual General and Special Meeting and Ablation Mining Technology

TORONTO, ONTARIO--(Marketwired - Sept. 16, 2015) - Western Uranium Corporation (CSE:WUC) ('Western' or the 'Company') provides the results of the Company's Annual General and Special Meeting ("Meeting") held on September 12, 2015 in Nucla, Colorado. All resolutions were passed by shareholders.

A total of 10,517,253 common shares, representing 87.38% of the votes attached to all outstanding shares as at the record date for the Meeting, were represented at the Meeting and voted in favour of all the Resolutions.

Mine Tour Sunday Mine Complex

Shareholders, Investors, Management, Directors and local mining professionals were given an underground tour of the Sunday Mine Complex and then a site visit to the permitted Pinon Ridge Mill Site.

Ablation Mining Technology ('AMT') Demonstration

George Glasier, President & CEO of Western commented as follows: 'We are pleased with the results of our preliminary trial runs. Western, through its wholly-owned subsidiary Black Range Minerals Inc., has completed the construction and testing of the first production model of its Ablation Mining Technology. The production tests indicate that the patented mining process could substantially reduce the cost of producing uranium concentrates (U3O8) from both the Company's mines, and potentially from other sandstone hosted deposits globally.

Western intends to construct additional production ablation units to employ at its fully permitted Sunday Mine Complex. A detailed operational demonstration of the ablation mining technology was undertaken on stockpiled ore from the October mine on the weekend of September 11 and 12 2015. The 5 ton per hour AMT has been undergoing on-site testing and development for the past month or so and, in our view has now been de-risked and is operational. Over the coming month WUC will be working to optimize production efficiencies. When the operational efficiencies have been fully optimized, work will begin on the construction and development of a 20 ton per hour AMT unit for commercial production.'

CAUTIONARY NOTE: The production results referred to above are for information purposes only and are derived from internal processes and calculations conducted on trial runs. The results are of a preliminary nature only. No independent Technical or Scientific Report or economic analysis has been undertaken at this point. The statements have not been reviewed or considered by a qualified person. Accordingly the statements contained herein should not be relied upon.

About Western Uranium Corporation

Western Uranium Corporation is a Colorado based uranium company focused on near production of uranium and vanadium in the western United States.

Forward-Looking Statements and Cautionary Note

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its Ablation Mining Technology, business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made. The information in this news release speaks only as of today's date. In particular, this News Release may contain forward-looking information pertaining to the following: the likelihood of the benefits to be derived from the Ablation Mining Technology, the Black Range transaction (the 'Transaction') ; the rationale of the Transaction; the estimates of each of Black Range's and Western's 's mineral resources; expectations regarding the milling of ores and associated cash flows; expectations with respect to the enhanced recoveries and efficiencies with respect to the application of the Ablation Mining Technologies ('Ablation').

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