URANIUM RESOURCES, INC. EMERGING URANIUM PRODUCTION

URANIUM RESOURCES, INC. EMERGING URANIUM PRODUCTION Christopher M. Jones President and Chief Executive Officer Uranium Resources, Inc. (Nasdaq: URRE)...
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URANIUM RESOURCES, INC. EMERGING URANIUM PRODUCTION

Christopher M. Jones President and Chief Executive Officer Uranium Resources, Inc. (Nasdaq: URRE) (ASX:URI)

28th Annual ROTH Conference – Laguna Niguel, CA March 14, 2016

1

CAUTIONARY STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Uranium Resources Inc. (“URI”) expects will occur in the future, including but not limited to statements relating to (i) resulting cost savings, synergies and other expectations as a result of the transaction between URI and Anatolia Energy Limited, (ii) the ability to optimize technical and operational components of the combined business, the timing and results of the updated Pre-Feasibility Study for the Temrezli project, (iii) the timing, occurrence, rates and cost of production at the properties in the United States and Turkey, including statements regarding future growth pipeline, the timing and completion of the proposed transaction with Laramide Resources Ltd., (iv) the cost of uranium production at the properties, (v) capital resources, capitalization and ownership, including relationships with major shareholders, (vi) additions of reserves and resources, the timing of the analysis of historical data, and the occurrence, extent and results of any future exploration program, including drilling, (vii) mineral resources and exploration results, which includes inferred resources (see “Cautionary Note Regarding References to Resources and Reserves”), (viii) future improvements in the demand for and price of uranium and growth in nuclear generating capacity, (ix) adequacy of funding and access to capital markets, and (x) plans for capital management, revenue, cash generation and profits are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties.

These risk factors and uncertainties include, but are not limited to, (i) the ability to enter into and close upon definitive documentation with Laramide Resources Ltd., (ii) the ability to raise additional capital in the future, (iii) worldwide demand for uranium, including specifically the spot price and long-term contract price of uranium, (iv) the ability to reach agreements with any royalty holders, (v) operating conditions at the projects, including without limitation weather conditions, (vi) government (including tribal governments) regulation of the uranium industry and the nuclear power industry, (vii) maintaining sufficient financial assurance in the form of sufficiently collateralized surety instruments, (viii) unanticipated geological, processing, regulatory and legal or other problems which may be encountered, (ix) the ability to enter into and successfully close acquisitions or other material transactions, (x) the fact that NI 43-101 reports describe various types of “resources” which are not recognized by the SEC, inferred resources are the lowest standard of resource allowed under NI 43-101 standards and may not qualify as “mineralized material” under SEC staff positions, “reserves” are defined differently by the SEC and under NI 43-101 standards (see “Cautionary Note Regarding References to Resources and Reserves”), (xi) access rights, (xii) timely receipt of recovery and other permits from regulatory agents, and (xiii) other factors which are more fully described in the URI’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC, and Anatolia’s Annual Report. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on forward-looking statements. Except as required by law, Anatolia and URI disclaim any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this presentation.

2

CAUTIONARY NOTE REGARDING REFERENCES TO RESOURCES AND RESERVES URI discloses mineral resources, including inferred resources, pursuant to the Canadian Institute of Mining, Metallurgy and Petroleum Standards (CIM Standards) for reporting mineral resources and reserves, and Canadian National Instrument 43-101 (NI 43-101). Investors are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, the Company’s disclosures regarding mineralization may not be comparable to similar information disclosed by the Company in the reports it files with the SEC. Without limiting the foregoing, while the terms “mineral resources,” “inferred resources,” “indicated resources” and “measured mineral resources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or pre-feasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit amounts. In addition, the NI 43-101 and CIM Standards definition of a “reserve” differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a “final” or “bankable” feasibility study is required to report reserves, the three-year historical price (or in certain circumstances, a contract price) is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. URI discloses non-reserve mineralized material that is considered too speculative geologically to be categorized as reserves under SEC Industry Guide 7. Estimates of non-reserve mineralized material are subject to further exploration and development, are subject to many risks and highly speculative, and may not be converted to future reserves of URI. Investors are cautioned not to assume that all or any part of such non-reserve mineralized material exists, or is economically or legally extractible. Mineralized material that is not reserves does not have any demonstrated economic viability.

3

COMPETENT PERSON STATEMENTS Technical information in this release is based on data reviewed by Dean T. Wilton (CPG-7659), who is Chief Geologist and Vice President of Uranium Resources, Inc. Mr. Wilton is a “Qualified Person” as defined by Canadian National Instrument 43-101, and a “Competent Person” as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). He is a Certified Professional Geologist (CPG-7659), as designated by the American Institute of Professional Geologists, and is a Member of the Australian Institute of Geoscientists (MAIG #6384). Mr. Wilton has more than 5 years of experience that are relevant to the evaluation of the styles of uranium deposits relating to this document. Mr. Wilton consents to the inclusion in this release of the matters based on their information in the form and context in which they appear. Information in this presentation which relates to Anatolia’s Mineral Resources and Exploration Results is based on information compiled by Mr Dimitry Pertel and Mr Robert Annett, who are Members of the Australian Institute of Geosciences (“AIG”). Mr Pertel is employed by CSA Global Pty Ltd and Mr Annett is a non-Executive Director of Anatolia Energy Ltd. Mr Pertel and Mr Annett have over 20 years of exploration and mining experience in a variety of mineral deposit styles, and have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Pertel and Mr Annett consent to inclusion in this presentation of the matters based on their information in the form and context in which it appears. The information in this presentation which relates to Temrezli Plant and Well field Engineering is based on information compiled by Mr Thomas Young who at the effective date of the Prefeasibility Study was employed by TetraTech Inc. Mr Young is a Professional Engineer in the State of Colorado and is a member of a Recognised Overseas Professional Organisation (ROPO) as listed by the ASX. Mr Young has over 30 years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Young consents to inclusion in this presentation of the matters based on this information in the form and context in which it appears. The information in this presentation which relates to Temrezli’s well field geology is based on and fairly represents information compiled by Mr Stephen Lunsford who at the effective date of the Temrezli Pre-feasibility Study was a consultant to TetraTech Inc. Mr Lunsford is a Professional Geologist in the State of Wyoming and is a member of a Recognised Overseas Professional Organisation (ROPO) as listed by the ASX. Mr Lunsford has over 40 years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for r Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lunsford consents to inclusion in this presentation of the matters based on this information in the form and context in which it appears.

FOREIGN ESTIMATES OF RESOURCES / RESERVES 4

DISCLOSURE REGARDING FOREIGN ESTIMATES URI wishes to confirm that the information reported in relation to the URI Mineral Resources is on the basis of a “foreign estimates” (Foreign Estimate) and as such are not reported in accordance with the JORC Code. The following additional information is provided in accordance with Listing Rule 5.12. The information provided in relation to Foreign Estimates was extracted from URI’s website and various filings with the SEC (USA). URI discloses Mineral Resources, including inferred resources, pursuant to the CIM Standards and NI 43-101. URI believes that the categories of mineralisation reported are similar to the JORC Code (2012) classification. The Foreign Estimates in their current form are considered to be accurate representations of the available data, and are the most recent Resource Statements by URI. URI considers the Foreign Estimates to be material to URI. URI also believes that the Foreign Estimates are relevant to shareholders as they provide an indication of the current estimated mineralisation under the control of URI. URI believes that the Foreign Estimates are sufficiently reliable and consistent with estimation methodologies commonly used at the time of their estimation. URI reported the Foreign Estimates and has been involved in the exploration and evaluation of these deposits. URI has significant experience in uranium exploration and the production of uranium from its uranium assets in South Texas, USA, and files all necessary information relating to their activities with the governing authorities (SEC). Information relating to the key assumptions, mining and processing parameters, and methods used to prepare the Foreign Estimates are documented in a number of historic NI 43-101 reports held by URI, and various filings with the SEC. After completion of the merger of URI and Anatolia, URI intends to evaluate the required work necessary to verify the Foreign Estimates in accordance with Appendix 5A (JORC Code). Cautionary Statement The foreign estimates of mineral resources and reserves in this presentation are not reported in accordance with the Australian JORC Code. A competent person has not done sufficient work to classify the foreign estimates as mineral resources or ore reserves in accordance with the JORC Code but URI notes the close similarity of the Canadian NI 43-101 and JORC classification systems. It is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code. This will require new estimates and future reporting under JORC (2012) after completion of the merger.

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THE NEW URANIUM RESOURCES  We have The Temrezli Project – Low CAPEX, Low OPEX, High-Margin  We have a Clear Pathway to Profitable Uranium Production  We have a deep pool of in-house Uranium Expertise  We have one of the Largest Uranium Mineralisation bases in the USA  We have 2 Licensed Processing Facilities in South Texas

 We have a demonstrated ability to execute Proactive M&A

Watch this space!

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CORPORATE SNAPSHOT Shares outstanding 1

5.15 million

Options/Warrants 1

0.8 million

Share Price 1

US$2.64 A$ 4.20

Market Capitalisation

US$13.6M A$21.6M

Cash and Equivalents (12/31/15) 2

US$865K

Sale Proceeds from LOI3 Convertible Note4

$12.5 million US$8.0 million

Major Shareholders

%

Resource Capital Fund V LP

14%

JP Morgan Nominees

4%

Azarga Resources Ltd

4%

Global X Management Company LLC

3%

Shares outstanding and share price have been adjusted to reflect URI’s 1-for-12 reverse stock split, effective March 8, 2016. 2 Does not include US$3.9 million in restricted cash, nor does it include any cash from recently announced LOI with Laramide Resources Ltd. 3 Subject to the successful closing of recently announced agreement. Closing is currently anticipated to take place in the second quarter of 2016. 4 10% Convertible Loan with RCF, matures 31 December 2016, and is convertible into 0.256m shares at US$31.20 per share at RCF’s election. 1

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URI – TRANSFORMED UNDER NEW LEADERSHIP 

Focus on setting the foundation for a robust long-term uranium production company



Five project level and/or M&A deals completed since November 2014 New management team; Chris Jones joins as CEO & Jeff Vigil as V.P. and CFO Reduction of overhead by US$1.5M pa through office closures

May 2013

Renegotiation of Uranium Sales Contact with ITOCHU

July 2013

Placement raises US$10.3 million

Feb 2014

Cebolleta & Juan Tafoya project resource updates (5.7Mt @ 1700ppm U308; 4.2Mt @ 1450 ppm U308)

1

March - June 2013

April – June 2014

Land Swap Deal: URI gains 5 new projects in vicinity of South Texas processing plants

Nov 2014

Exploration drilling commenced on new South Texas properties

Feb 2015

Placement to raise US$6.0 million

March 2015

2

Divestment of Roca Honda Project for US$ 2.5M cash, plus royalties, new acreage and shares in Energy Fuels

May 2015

3

Acquisition of extensive data set acquired for Butler Ranch, South Texas, including historical resource of 1.2Mlbs

July 2015

4

Merger with Anatolia Energy Completed

Nov 2015

5

Sale of Churchrock and Crownpoint to Laramide Resources for $12.5 million – Closing anticipated Q2 2016

Nov 2015

Financials underpinned for the next year with two equity offerings and an option to enter into an Equity Line

Dec/15 – Feb/16 8

OUTSTANDING LEADERSHIP TEAM Christopher M. Jones, President, CEO and Director

• Joined in March 2013; more than 30 years of industry experience; licensed Professional Engineer (US and Canada) • B.S. in Mining Engineering from South Dakota School of Mines and an MBA from Colorado State University

Jeffrey L.Vigil, VP Finance and CFO

• Joined in June 2013; more than 30 years of financial experience, including 20 years of mining background with 10 years in the uranium sector • B.S. in Accounting from the University of Wyoming; licensed CPA

Ted Wilton, VP, Chief Geologist

• Joined in April 2012; more than 40 years of industry experience; Certified Professional Geologist • B.G.S., Geology with an Engineering minor from New Mexico Institute of Mining & Technology

Dain A. McCoig, VP, South Texas Operations

• Joined in 2004; experienced in all phases of ISR development and production; licensed Professional Engineer in Texas • Managed design and construction of Rosita Facility in Texas • B.S. in Mechanical Engineering from Colorado School of Mines

Cevat Er General Manager - Turkey

• Joined Anatolia in March 2015. Founder of SRK Ankara, with 30 years of Turkish mining and environmental experience • M.Sc. from Arizona State University, and B.S. Geological Engineering

John W. Lawrence, General Counsel and Corporate Secretary

• Joined in October 2012; more than 30 years of experience in law and licensing across nuclear fuel cycle • B.S. in Nuclear Engineering from Purdue University and a J.D. from Catholic University, Columbus School of Law

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Pipeline of Projects MERGED ENTITY PROJECT PIPELINE TURKEY TEXAS, USA NEW MEXICO, USA ISR development project ISR method of recovery Conventional method of recovery National Instrument 43-101 Compliant Technical Report

Cebolleta

Juan Tafoya Butler Ranch Temrezli Kingsville Dome

Sejita Dome

Sefaatli

(Processing plant on standby)

Rosita1

Near Term

Mid Term

(Now-2018)

(3-5 Years)

Long Term (5-8+ Years)

Evaluation Projects: Ambrosia Lake 1. •

Jack Pump

Nell

Nose Rock

Alta Mesa Este

West Largo

URI expects to dismantle and ship the Rosita processing plant equipment, which is currently on standby, to the Temrezli Project for synergistic savings. Temrezli’s target production date is based on the Development Case as presented in the announcement of Anatolia’s Pre-Feasibility Study on February 16, 2015. URI currently expects to close a transaction with Laramide Resources for the sale of Churchrock and Crownpoint properties in Q2 2016. 10

TEMREZLI PROJECT 

Long life, low cost project, nearing development decision



Pre-Feasibility completed February 2015:



   



Average annual production of 800,000 pounds of uranium over 12 years



Average cash operating costs of US$16.89/ lb U3O8



Free cash flow of over US$345M over life of mine

URI is now in the process of updating the PFS to reflect cost savings identified by the merger, updated wellfield design and drilling quotes Mineralization below the water table and generally less than 200m deep Potential for resource extensions and additions

Upside from Sefaatli satellite property – hub and spoke development plan for regional deposits proved up over time Updated PFS Expected to be completed in Q4 2016

CATEGORY

TONNES (‘000s)

GRADE (ppm U3 08 )

U 3 08 (Mlbs)

Measured

2,008

1,378

6.1

Indicated

2,178

1,080

5.2

Inferred*

1,020

888

2.0

5,206

1,157

13.3

TOTAL RESOURCE

* See Cautionary Note Regarding References to Resources and Reserves.

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TEMREZLI – PRODUCING IN 2018! 

PFS Optimization Study is underway, utilizing both in-house and external technical resources



Permitting is underway with Environmental and Nuclear Regulatory Agencies



Process to transfer Rosita plant to Temrezli expected to commence in Q1 2017



First pounds expected to be produced within 90 days of wellfield commissioning (2018) Q2

2016 Q3

2017 Q4

Q1

Q2

2018 Q3

Q4

Q1

Q2

Q3

Q4

PFS Optimization Hydrogeological testwork Optimization of wellfield design Central Processging Plant design work (expansion study)

Permitting Environmental permitting (process commenced) Turkish Atomic Energy Commission Export License Operations Permit

Financing Project finance discussions Negotiation of uranium sales contracts

Temrezli Development Disassembly of Rosita plant, and plant upgrade works Shipping of Rosita to Temrezli site Project Construction

12

Uranium Production 12

THE ROSITA PLANT 

Plan to relocate idle capital equipment at Rosita plant to the Temrezli site, providing up to US$8 million in capital savings



Rosita facility is designed to scale up the production from 800,000lbs per annum to 1.6Mlbs U308 per annum with some capital upgrades



All equipment at the plant was upgraded or replaced within the past nine years. This upgrade added drying capability which enables the plant to produce yellowcake in finished product form

13

TEMREZLI - LOWEST QUARTILE OF INDUSTRY COSTS 100

1

90

2

3

4

Cumulative Production Capacity

US$/lb - All in Costs

80 So. Texas estimate: $40-$45

Temrezli PFS1: $30.12

70 60 50

40 30 20 10

0 -

25

50

75

100

125

150 175 200 MM lbs U3O8

225

250

Source: Operating Mines’ Design Capacity – UxC 2013 and Dundee’s current data 1. Based on the Development Case as presented in the announcement of Anatolia’s Pre-Feasibility Study on 16 February 2015

275

300

325

350

14

REGIONAL EXPLORATION SETTING - TURKEY EXPLORING IN A PREMIER URANIUM DISTRICT

15

MID-TERM ISR POTENTIAL IN SOUTH TEXAS



URI’s Texas landholdings total 14,000 acres (5,700 hectares)



All projects are located near our existing processing infrastructure



Our Kingsville Dome facility is on standby, ready to restart upon strong uranium prices



Roll-Front mineralization in sandstones amenable to in-situ recovery



Acquired historic resources data of 1.3M pounds U3O8 and logs from over 2,000 drill holes in Butler Ranch data set1

1.

Please refer to URI’s news release of July 7, 2015.

16

MID & LONG TERM: POTENTIAL IN NEW MEXICO 

URI holds a dominant resource and land position in the Grants Uranium Belt 



Cebolleta: Ready for Preliminary Economic Assessment 



One of the largest known concentrations of sandstone-hosted uranium deposits in the world

Ready for infill drilling to upgrade to indicated resources and identify historic St. Anthony deposit resources

Juan Tafoya: Ready for Preliminary Economic Assessment 

15 road miles to Cebolleta



Churchrock: Large ISR project requiring higher uranium prices. SALE PENDING



URI’s land position in New Mexico totals approximately 190,000 acres (76,900 hectares)

17

VERY SIGNIFICANT LEVERAGE TO THE URANIUM PRICE

HIGHLY LEVERAGED TO THE URANIUM PRICE URI’S HISTORICAL MARKET

CAPITALIZATION $160

$140

$600

$120

$500

$100 $400 $80 $300 $60 $200

$40

$100

$0 Dec-06

Uranium Spot Price (US$/lb.

Market Capitalisation (US$ Millions)

$700

$20

$0 Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

18 18

GLOBAL DEMAND FOR URANIUM IS GROWING 

More reactors are under construction or ordered today than ever!



Governments around the world are focused on carbon reduction - The only base load solution is nuclear power



There are 393 operating nuclear power facilities around the world



China, India, Russia and Korea are building or have ordered 148 new reactors



China alone has 25 reactors currently under construction



China consumes 19Mlbs per year, and is forecast to grow to 73Mlbs by 2030



Current Global annual consumption of Uranium is 175Mlbs

Global Reactor Fleet Total Reactors Ordered or Planned Under Construction Operable Reactors

0

19

Source: World Nuclear Association, August 2015

100

200

300

400

500

600

700 19

URANIUM SUPPLY & DEMAND FUNDAMENTALS Current

MM lbs 260

Uranium Demand is Rising

240 220 200 180 160 140 2012A

2013A

2014E

2015E

2016E

2017E

2018E

2019E

Global Primary Uranium Supply (M lbs U3O8)

2020E

2021E

2022E

2023E

2024E

2025E

Global Secondary Uranium Supply (M lbs U3O8)

20 Source: Cantor Fitzgerald estimates using data from Ux Consulting and World Nuclear Association.

20

URANIUM SPOT & LONG-TERM PRICES ($ per lb.)

$160.00

$140.00

$136.00 Average Weekly Spot $95.00 LT

FORECAST PERIOD Spot Prices – Conservative Case

$120.00

$100.00

$80.00

2/29/2016: $32.15 Avg. Weekly Spot Price; $44.00 Long Term Price

$60.00

$58.19 $47.06

$40.00

$51.21

$20.00

$0.00

Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Uranium Average Weekly Spot Price

Uranium Long Term Price

Sources: Ux Consulting for uranium prices to date and ThomsonOne for analysts’ forecast prices. There are currently three analyst estimates for 2017-18.

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THE INVESTMENT PROPOSITION  Low-cost production from High-Grade Temrezli ISR Project  Large portfolio of undeveloped uranium mineralisation, providing Significant Leverage

to the Uranium Price  Strong Scope for Re-Rating as we progress towards uranium production  We will Remain Active in M&A to continue to grow our company  Timely, growing Production Profile is Well Aligned With Uranium’s Solid Outlook

Questions? 22

Appendices

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BOARD OF DIRECTORS Terence J. Cryan Chairman

Managing Director at Concert Energy Partners, a New York private equity and investment advisory firm. Chairman of the Board of Ocean Power Technologies, Inc., and he is a Board Leadership Fellow of the National Association of Corporate Directors. Former Sr. Managing Director, Investment Banking, at Bear Stearns.

Christopher M. Jones President and CEO

CEO since March 2013; over 30 years of industry experience and a licensed professional engineer.

Paul Cronin * Director

CEO of Anatolia Energy and former investment banker with RMB Resources. Advisor to Nufcor Uranium Limited, and VP of Nuclear Origination at Constellation Energy.

Marvin K. Kaiser Director

More than 40 years of industry experience, including EVP, Chief Administrative Officer and CFO at The Doe Run Co.

Patrick Burke * Director

Director of Anatolia and corporate lawyer with more than 20 years experience in mergers and acquisitions, and a detailed understanding of ASX, ASIC and Corporations law in Australia.

Tracy A. Stevenson Director

Founding member of Bedrock Resources, a private financial advisory firm focused on natural resource businesses. Former Global Head of Business Process Improvements at Rio Tinto.

Mark K. Wheatley Director

Executive Chairman of Xanadu Mines. Over 35 years of industry experience and former chairman and Chief Executive Officer of Southern Cross Resources, predecessor to Uranium One.

* Have been invited to join the board of Uranium Resources. 24

PRO FORMA COMBINED MINERAL RESERVES & RESOURCES In Place Reserves in South Texas1,2 (At August 2015) Short Tons

Grade (% U3O8 )

In-Place Pounds

Recovery Method

Kingsville Dome

35,000

0.07

50,000

ISR

Rosita

384,000

0.08

624,000

ISR

Total

419,000

0.08

674,000

Property

Footnotes to the Reserves table: 1.The Company estimates a 65% recovery rate for ISR methods and used a price assumption of $53.58 per uranium pound, which is the trailing three-year, average long-term price of uranium using Ux Consulting’s “Term” pricing data. 2.Amounts have been rounded.

Non-Reserve Mineralized Material 1 Property

Short Tons (millions)

Grade (% U3O8)

Recovery Method

4.6

0.13

ISR

1.1

0.09

ISR

5.6

0.17

Conventional

a

Temrezli Project, Turkey Measured & Indicated Inferred US Projects 3

Cebolleta Inferred 3

Juan Tafoya Inferred

4.2

0.15

Conventional/ISR

2

Butler Ranch (Historical)

0.4

0.15

ISR

Ambrosia Lake (Historical)

0.7

0.17

Conventional/ISR

Nose Rock (Historical)

7.5

0.15

Conventional

West Largo (Historical)

2.8

0.30

Conventional

Footnotes to the Mineralized Material table: 1.Investors are cautioned not to assume that all or any part of such nonreserve mineralized material exists, or is economically or legally extractible. See “Cautionary Note Regarding References to Resources and Reserves” and other disclosures on slides 3 and 4. Amounts have been rounded. 2.URI acquired historic resources data as part of a mineral data set of drill logs and other geological information as announced in a July 7, 2015 news release. 3.Each project’s Canadian National Instrument 43-101 compliant Technical Report on resources is available on the Company’s website. Classified as Inferred Resources under the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards. a. JORC compliant resources

25

CONTACT DETAILS Christopher Jones President and CEO Uranium Resources, Inc. Tel: 303-531-0470 Email: [email protected]

Investor Relations Robert Winters Alpha IR Group Executive Vice President Office: 929-266-6315 Cell: 917-821-6305 Email: [email protected]

www.uraniumresources.com

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