Da fließt Geld in die Kasse ;-)
URASIA ANNOUNCES SALES CONTRACT WITH EXELON GENERATION COMPANY, LLC
Vancouver, Canada, March 19, 2007 – UrAsia Energy Ltd. (the “Company” or “UrAsia”) announced today that it has entered into an agreement for the supply of uranium concentrates with Exelon Generation Company, LLC “Exelon”. The new five year contract, is for the purchase of approximately 2,500,000 pounds U3O8 for delivery during the period 2009 to 2013.
Upon execution of the Exelon sales contract, Phillip Shirvington, President and Chief Executive Officer, said “As a uranium producer in a resurgent nuclear sector, UrAsia is pleased to be able to supply the fuel needs for a number of nuclear utilities in North America, including one of the largest of such utilities, Exelon”.
Exelon owns and controls one of the largest energy portfolios in the country, generating about 33 gigawatts of owned and contracted power for customers in Illinois, Pennsylvania and New Jersey. Exelon currently operates 17 nuclear reactors at 10 sites in the United States, with an average capacity factor of 93.5%.
UrAsia is also pleased to announce the execution of a long-term agreement with another of North America’s premier nuclear operators. A new eight year contract provides for the sale of more than 3,000,000 pounds of U3O8 at market related prices (Trade Tech’s Weekly Spot Price Indicator for March 9, 2007 was US$90.00 per pound U3O8).
Uranium will be supplied from the Akdala and South Inkai in-situ leach mines. UrAsia has a 70% interest in the Betpak Dala Joint Venture, which has a 100% interest in the Akdala and South Inkai in-situ leach mines, located in the Republic of Kazakhstan.
UrAsia, a Canadian-based uranium producer listed on the TSX Venture Exchange and the Alternative Investment Market (AIM) of the London Stock Exchange, offers investors exposure to low-cost, uranium production and growth. In February 2007 a friendly business combination with Canadian miner, SXR Uranium One for UrAsia Energy Ltd. was entered into (See News Release, dated February 12, 2007). If the business combination is approved, the combined Company, Uranium One, will be a leading global uranium producer with a diversified asset base in the Republic of Kazakhstan, Australia, Canada, South Africa, United States and the Kyrgyz Republic. UrAsia trades under the symbol UUU on both the TSX Venture Exchange and AIM of the London Stock Exchange.
On behalf of Urasia Energy Ltd.
“Phillip Shirvington”
President and Chief Executive Officer
For more information visit www.sedar.com or contact Investor Relations in North America at 1-866-798-0824 or (604) 608-0824, Email: ir@vanguardsolutions.ca. For UK investor enquiries, contact +44 (0) 207 466 5000. For Product Marketing and Sales contact + 303 325 2377.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of UrAsia Energy Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company’s filings with the appropriate securities commissions.
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