Corporate Update - Republic o

RNS Number : 4406H

Niger Uranium Limited

19 February 2010

 



For immediate release

19 February 2010

Niger Uranium Limited

("Niger Uranium" or the "Company")

Corporate Update - Republic of Niger

The Board of the Company notes today's press reports regarding a military coup in the Republic of Niger ("Niger"). Niger Uranium holds eight prospecting licenses in Niger, covering a total area of 1,673,644 acres (6,773 square kilometres). As set out in the Company's announcement of its interim results for the six months ended 30 September 2009, the difficult security situation in Niger has precluded the Company from carrying out recent exploration activities. As and when the security situation improves sufficiently, the Company had intended to recommence the exploration and drilling of identified targets within its licence areas. A further announcement will made in due course when the future impact of the current developments in Niger on exploration there becomes clearer. In the meantime, the Company has maintained a limited financial exposure to Niger.

David Weill, Chairman commented:

"Fortunately we don't believe that any personnel associated with our operations have been caught up in the recent events and we look forward to calm returning within Niger shortly, allowing us to resume normal business. Niger Uranium remains committed to working with all parties in country."

Enquiries:

Niger Uranium Limited

David Weill, Chairman                            

Tel: [phone]

Nominated Adviser, Beaumont Cornish Limited                         

Tel: [phone]

ENDS

 

END

 

 

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