Uranerz Energy has obtained sixteen (16) mineral leases comprising thirty-one (31) parcels of land from the state of Wyoming. These leases cover a surface area of approximately 5747 hectares (14,200 acres).Twelve (12) of these leases are located in the Powder River Basin and Nineteen (19) of these leases are located in the northern part of an area generally referred to as the Great Divide Basin (or Red Desert).Applications for additional state mineral leases will most likely be made as the company’s exploration and acquisition efforts continue.
The company also currently owns 140 federal lode mining claims in Wyoming and claim staking activity is continuing at this time.A lode mining claim typically covers approximately 20 acres (8 hectares).The areas in Wyoming being claim staked may have drill indicated resources.An independent uranium geologist is in the process of evaluating the available data.Part of the company’s Wyoming geologic data base was acquired from a long time Wyoming uranium exploration geologist.
The state mineral leases and federal mining claims that Uranerz has in Wyoming are all located in sandstone basins of Cretaceous or Tertiary age and thus have the potential for the economic in-situ leach solution mining of uranium. The Uranerz management team has extensive operational experience in this method of uranium mining.
