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URU Metals Limited - Appointment of Environmental Consultants at Narke Oil-Uranium Project

July 17, 2014



ENP Newswire - 17 July 2014

Release date- 16072014 - URU Metals, the multi-commodity exploration and development company is pleased to announce the appointment of environmental consultants to lead a base line environmental study over the Narke Oil-Uranium Project located in Sweden.

The Study is an essential constituent in an application for a Mining Concession and Environmental Permit.

Svenska Skifferoljeaktiebolaget ('SSOAB'), URU Metals' 100% owned subsidiary, has engaged Pelagia Miljokonsult AB, a leading Swedish environmental consultant, to undertake the Study. The Study covers areas of consideration including fauna, flora and water quality, and will establish the pre-mining base line of the six licences that form the Narke Project.

John Zorbas, Chief Executive Officer, commented: 'The Narke Oil-Uranium Project is an attractive dual commodity project with an exploration target of 1.47 billion tonnes containing 303,000 tonnes U3O8 and 525 million barrels of oil equivalent.

The commencement of a base line environmental study is a key development as we look to unlock the potential of this significant asset and advance our licences into Exploitation Concessions ahead of commercial oil and uranium production. I look forward to providing further updates in due course regarding resource delineation, environmental studies and feasibility reports as we look to demonstrate the tangible value of this exciting asset.'

For further information please visit www.urumetals.com

Contact:

URU Metals Limited

John Zorbas

Chief Executive Officer

Tel: +1 416 504 3978

Northland Capital Partners Limited

Edward Hutton

Matthew Johnson

Tel: 44 (0) 207 382 1100

Beaufort Securities Limited

Andrew Gutmann

Tel: 44 (0) 207 382 8300

St Brides Media & Finance Ltd

Lottie Brocklehurst

Susie Geliher

Tel: +44 (0) 20 7236 1177

About URU Metals

URU Metals is a multi-commodity explorer and developer with a diverse portfolio that includes:

Zebediela Nickel Sulphide Project, South Africa

100% ownership of a world class nickel sulphide project located in the Limpopo Province of South Africa boasting inferred and indicated resources of over 1.5Bt containing around 37Mt of nickel. Zebediela is forecasted to be a lowest-quartile production asset with an NPV8 of US$1 billion and IRR of 25.7% at US$8.5/lb Ni for its indicated resources alone.

Burgersfort Nickel Sulphide Project, South Africa

50% ownership of Burgersfort, located in the Mpumalanga Province of South Africa. Previous exploration identified disseminated nickel targets and three deeper massive sulphide nickel targets.

The Narke Oil-Uranium Project, Sweden

100% interest in an oil shale asset located in the Alum Shale of Sweden. The project will involve the conversion of kerogen to oil and is one of the largest known uranium deposits worldwide. The project has an exploration target of 1.47 billion tonnes potentially containing 303,000t of U3O8 and 525 million barrels of oil equivalent.


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Source: ENP Newswire


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