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Re: News Release - Friday, January 20, 2012
Virginia Governor Directs the State Regulatory Agencies to
Develop Draft Uranium Mining Regulations in 2012
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NR: 12-01
Virginia Energy Resources Inc.
(TSX.V: VAE) (OTCQX: VAERF) welcomes
Governor McDonnells decision to have Virginias regulatory agencies
begin the process of drafting a regulatory and permitting program for
uranium mining in the Commonwealth.
The Governors decision is an
important step toward establishing a regulatory framework that would
enable the construction and operation of one of the safest uranium
mines in the world at the Coles Hill site.
Every independent scientific study conducted by the Commonwealth over
the past 30 years has come to the same conclusion, that uranium mining
can be conducted safely in Virginia as long as stringent regulatory
standards and industry best practices are put in place.
The Governors
decision moves the Commonwealth one step closer toward adopting these
standards and will allow our company to demonstrate our sincere
commitment to protecting the environment and the well-being of
Virginias citizens.
As the National Academy of Sciences and Chmura socioeconomic studies
have shown, there is a strong foundation of international best
practices and regulatory standards on which the Commonwealth can draw
to establish a rigorous program for regulating uranium mining.
These
advanced practices and regulatory standards adopted in Canada and
certain Western U.S.
states have proven successful over the last 30
years at protecting the environment, worker safety and public health.
Over the next twelve months, the Commonwealth will have the benefit of
reviewing these international models to ensure it establishes one of
the most robust and protective regulatory programs in the world.
We look forward to the opportunity to work with the citizens of
Virginia and the states regulatory agencies over the next year to
ensure that the Commonwealth adopts a comprehensive regulatory program
for uranium mining that is protective of public health and safety and
the environment.
About Virginia Energy Resources Inc.
Virginia Energy Resources Inc.
is a uranium development and exploration
company that holds a 29% stake in the advanced stage Coles Hill uranium
project in Virginia.
The Company is also pursuing active exploration
programs in the Athabasca Basin of Saskatchewan and in the Otish Basin
of Quebec.
Virginia Energy Resources Inc.
trades on the TSX Venture
Exchange under the symbol VAE and on the OTCQX under the symbol VAERF.
On Behalf of the Board of Directors
VIRGINIA ENERGY RESOURCES INC.
Walter Coles Jr., President & CEO
For further information contact: Walter Coles, Jr., President/CEO
or Tony Perri - Investor Relations, Manager
Suite 611, 675 W.
Hastings Street Vancouver, British Columbia, Canada
V6B 1N2 Tel: (604) 669-4799
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
This news release includes certain "forward-looking statements" under
applicable Canadian securities legislation.
All statements other than
statements of historical fact included in this release, including,
without limitation, statements regarding future plans and objectives of
the Company are forward-looking statements that involve various risks
and uncertainties.
There can be no assurance that such statements will
prove to be accurate and actual results and future results, events and
objectives could differ materially from those anticipated in such
statements.
Important factors that could cause actual results to differ
materially from the Companys expectations include exploration and
other risks detailed from time to time in the filings made by the
Company with securities regulators.
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Copyright (c) 2012 VIRGINIA ENERGY RESOURCES INC.
(VAE) All rights
reserved.
For more information visit our website at
http://www.virginiaenergyresources.com/ or send
mailto:
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