Azarga Uranium clarifies disclosure about its PEA at Dewey...

Azarga Uranium clarifies disclosure about its PEA at Dewey Burdock and exploration targets

April 14, 2015 7:55 pm

AZARGA URANIUM CORP. (TSX:AZZ) (“Azarga” or the “Company”) announces that as a result of a review by the British Columbia Securities Commission (“BCSC”), we are issuing the following news release to clarify our disclosure.

The Company is clarifying certain deficiencies relating to compliance with National Instrument 43-101 (“43-101”) in the following disclosure: (i) our corporate presentation entitled “Diversified uranium developer, Investor Presentation – November 2014” (the “Presentation”); (ii) the “NI 43-101 Technical Report, Preliminary Economic Assessment, Dewey-Burdock Uranium ISR Project, South Dakota, USA” (the “Dewey Burdock PEA”) dated January 29, 2015; (iii) our news release dated January 29, 2015 regarding the Dewey Burdock PEA (the “January 2015 News Release”); (iv) our news release dated May 13, 2014 regarding exploration on the Kyzyl Ompul Property (the “May 2014 News Release”); (v) certain parts of our website; and (vi) other investor materials (collectively, the “Disclosure Documents”).

The NI 43-101 disclosure issues relating to the Disclosure Documents are as follows:

The Presentation reported economic indicators, including NPV and IRR, for the Hansen/Taylor Ranch property in which the company has 19% legal ownership. This disclosure is not supported by a NI 43-101 compliant preliminary economic assessment or other similar report, or by the disclosure record of the majority owner. Accordingly, the Company retracts these statements relating to the Hansen/Taylor Ranch property and has removed them from the Presentation.

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http://azargauranium.com/azarga-uranium-clarifies-disclosure-about-its-pea-at-dewey-burdock-and-exploration-targets/