Acquisition Of Uranium Properties In Utah And Colorado

VANCOUVER - Urano Energy Corp. has completed the acquisition of fifteen uranium properties. The properties, with a total of 345 claims covering 8,200 acres, or 33 square kilometers, are situated within the Colorado Plateau geological region within the states of Utah and Colorado. Fourteen of these properties have a history of production, with over two dozen former mine portals and shafts among them.  All properties have known mineralization that are located in three major mining districts, the Uravan Mineral Belt, La Sal and Lisbon Valley Districts.

The acquisition of the Properties adds significantly to the Company's growing uranium portfolio.  Prior to the acquisition, the Company held three properties in Utah with a combined acreage of 8,240 or 33 square kilometers and five properties in the Colorado portion of the Uravan Mineral Belt comprising of 5,400 acres or 22.8 square kilometers, including the Company's flagship Melinda property.  The transaction will give the Company a total of 21,840 acres or 88 square kilometers of property in one of the best regions to historically explore and mine uranium in the United States.

Jason Bagg, Chief Executive Officer, said, "The acquisition of these properties, most of which had historic production in leading uranium producing districts, is important to the development and growth of Urano Energy.   These projects, featuring accessible, shallow, tabular-style deposits, provide the Company with a variety of development and strategic opportunities."