🕐19.09.12 - 10:27 Uhr

URANIUM RESOURCES - HIGH GRADE URANIUM INTERCEPTS REPORTED FROM MTONYA EXPLORATI
ON PROGRAMME, TANZANIA



Good Morning - please see todays news from Uranium Resources below.
RFC Ambrian has published a note on the back of the news today.

This is the comment from Duncan Hughes. Uranian Resources share price is up 7.72% to 2.45p this morning.
Uranium Resources (URA) Price: 2.3p Target Price: N/R Recommendation: Speculative Buy Market Cap: �17m Comment These are excellent high-grade results from Mtonya, with much improved grades and/or widths than previous assay results, and provide encouragement that Mtonya could one day support an in-situ recovery operation. URA is targeting a JORC-compliant resource by the end of 1Q13 and the progress of the current drill programme makes this target achievable.

We expect another round of assay results in 4Q12 before a break in drilling to allow the company to progress the resource estimate. These grades and widths are very similar to those seen at the Powder River Basin deposits in Wyoming; they are well in excess of the likely cut-off grade and grade thickness seen at these deposits. Recommendation We continue to rate Uranium Resources as a SPECULATIVE BUY.

We believe the roll-front uranium mineralisation has real potential and the current drill programme is in full swing to uncover the prospects extensiveness.

Catalysts going forward include: � Completion of drilling programme and assays � Maiden resource - 1Q13
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration 19 September 2012 Uranium Resources plc (Uranium Resources or the Company) High-grade uranium intercepts reported from Mtonya Exploration Programme, Tanzania Uranium Resources plc, the AIM quoted uranium exploration company, is pleased to provide a positive update on the ongoing 2012 drilling programme at its 100% owned Mtonya uranium project in southwestern Tanzania. Highlights
* Numerous high-grade intercepts at Mtonya further reinforce the Companys model of continuous uranium mineralisation in Tier 1 roll-fronts at depths between 120 m and 220 m; * The Tier 1 redox interface extends for well over 4.5 km and remains open along strike.

Up to three continuous, overlapping roll-fronts have been identified in Tier 1; * Over 25,000 m of diamond drilling have been completed to date, far exceeding the original 20,000 m plan; * Significant uranium intercepts from latest drillholes include: - 0.27% (2678 ppm) U3O8 over 1 m in Hole 105; - 0.19% (1904 ppm) U3O8 over 1 m in Hole 105; - 0.13% (1321ppm) U3O8 over 1.3 m in Hole 097; - 0.13% (1321 ppm) U3O8 over 1 m in Hole 203; - 0.13% (1260 ppm U3O8 over 2 m in Hole 100; - 0.12% (1197 ppm) U3O8 over 1 m in Hole 106; - 0.11% (1057 ppm) U3O8 over 1 m in Hole 106; - 0.13% (1266 ppm) U3O8 over 2 m in Hole 241.
* Other significant results from Tier 1 also include such wide composited intercepts as: - 526 ppm U3O8 over 10 m in Hole 105; - 227 ppm U3O8 over 9 m in Hole 110; - 364 ppm U3O8 over 9 m in Hole 300; - 515 ppm U3O8 over 8.5 m in Hole 106; - 267 ppm U3O8 over 7 m in Hole 100.
* Results continue to compare favourably to other in-situ recovery ("ISR") projects. * Maiden resource expected Q1 2013. Uranium Resources Managing Director Alex Gostevskikh said, "We are very encouraged by these recent results as we see the foundation of Mtonyas resource being firmly established.

Our results compare exceptionally well against other ISR exploration projects being pursued in other parts of the world including the Powder River Basin and Wind Basin in Wyoming." The Companys drilling programme continues to generate encouraging results, with over 25,000 metres of diamond drilling completed to date at Mtonya.

This far exceeds the original plan of 20,000 metres. Drilling at Mtonya is targeting the Tier 1 mineralisation where up to three continuous roll-fronts have been identified.

The mineralised redox interface of Tier 1 has now been traced over a distance of over 4.5 km.

The three stacked roll-fronts coalesce and overlap to produce wide and continuous areas of uranium mineralisation that remain open along strike to the south and to the north.

The deeper Tier 2 and Tier 3 uranium mineralisation continue to be valid exploration targets for future drilling. As part of the 2012 drilling programme, the Company has undertaken widely spaced in-fill drilling aiming to define a maiden JORC compliant resource by the end of Q1 2013.

The Company is sampling and assaying along the entire depth of drillholes in addition to downhole gamma-logging to ensure the reliability and accuracy of the drilling data. The latest drilling continues to demonstrate roll-front widths, thicknesses and tenor remarkably similar to the roll-front deposits found in Wyomings Wind River Basin and Powder River Basin where Cameco and Uranium One operate successful ISR facilities. Table 1.

Significant uranium intercepts from Tier 1 drilling programme: Hole Longitude Latitude From To Length eU3O8 DH 022 36.517 -10.552 94.2 m 96.4 m 2.2 m 154 ppm * DH 028 (1) 36.517 -10.547 115.0 m 117.0 m 2.0 m 154 ppm * DH 083 36.527 -10.531 181.5 m 182.5 m 1.0 m 146 ppm * DH 093 36.524 -10.531 126.5 m 127.6 m 1.1 m 163 ppm * DH 095 (1) 36.525 -10.532 142.5 m 144.5 m 2.0 m 159 ppm * and
158.5 m 159.5 m 1.0 m 127 ppm * DH 096 (1) 36.525 -10.532 138.5 m 140.5 m 2.0 m 202 ppm * DH 097 (1) 36.526 -10.532 130.5 m 134.5 m 4.0 m 283 ppm * including
130.5 m 131.5 m 1.0 m 855 ppm * and
169.7 m 176.5 m 6.8 m 335 ppm * including
173.9 m 175.2 m 1.3 m 1321 ppm * DH 099 (1) 36.525 -10.533 101.5 m 104.5 m 3.0 m 224 ppm * Including
103.5 m 104.5 m 1.0 m 949 ppm * and
67.5 m 68.5 m 1.0 m 152 ppm * DH 100 36.525 -10.533 136.5 m 140.5 m 4.0 m 840 ppm * including
137.5 m 139.5 m 2.0 m 1260 ppm * and
171.5 m 178.5 m 7.0 m 267 ppm * including
173.5 m 174.5 m 1.0 m 670 ppm * and
186.5 m 187.5 m 1.0 m 291 ppm * DH 105 36.531 -10.523 144.3 m 154.3 m 10.0 m 526 ppm * including
145.3 m 146.3 m 1.0 m 2678 ppm * including
152.3 m 153.3 m 1.0 m 1904 ppm * DH 106 36.531 -10.523 155.9 m 164.4 m 8.5 m 515 ppm * including
158.4 m 159.4 m 1.0 m 1197 ppm * including
162.4 m 163.4 m 1.0 m 1057 ppm * DH 110 (1) 36.530 -10.524 122.2 m 131.2 m 9.0 m 227 ppm * DH 111 36.531 -10.524 55.3 m 57.3 m 2.0 m 131 ppm * DH 120 (1) 36.529 -10.525 143.2 m 144.2 m 1.0 m 113 ppm * DH 121 (1) 36.53 -10.525 102.3 m 103.3 m 1.0 m 180 ppm * and
132.4 m 137.4 m 5.0 m 199 ppm * DH 122 36.530 -10.525 77.0 m 78.0 m 1.0 m 285 ppm * DH 197 36.521 -10.550 210.0 m 211.0 m 1.0 m 301 ppm * DH 199 (1) 36.517 -10.547 97.3 m 98.5 m 1.2 m 302 ppm * DH 201 (1) 36.519 -10.546 86.5 m 87.5 m 1.0 m 269 ppm * and
99.5 m 100.5 m 1.0 m 119 ppm * and
128.5 m 129.5 m 1.0 m 227 ppm * DH 203 (1) 36.520 -10.545 54.5 m 60.5 m 6.0 m 315 ppm * including
54.5 m 55.5 m 1.0 m 1321 ppm * DH 206 (1) 36.520 -10.544 33.5 m 34.5 m 1.0 m 102 ppm * and
51.5 m 54.5 m 3.0 m 232 ppm * DH 207 (1) 36.521 -10.544 30.0 m 31.5 m 1.5 m 215 ppm * DH 208 (1) 36.521 -10.544 67.0 m 79.4 m 12.4 m 176 ppm * including
67.0 m 71.5 m 4.5 m 418 ppm * and
90.6 m 93.5 m 2.9 m 125 ppm * DH 209 (1) 36.521 -10.544 73.5 m 75.0 m 1.5 m 233 ppm * DH 230 36.521 -10.540 63.5 m 65.5 m 2.0 m 241 ppm * DH 232 36.522 -10.540 65.5 m 67.5 m 2.0 m 149 ppm * DH 240 36.532 -10.522 148.5 m 150.5 m 2.0 m 507 ppm * DH 241 36.532 -10.522 49.3 m 56.36 m 7.0 m 549 ppm * including
50.3 m 52.3 m 2.0 m 1266 ppm * DH 300 36.525 -10.535 137.5 m 138.5 m 1.0 m 109 ppm * and
157.5 m 166.5 m 9.0 m 364 ppm * including
162.5 m 165.5 m 3.0 m 511 ppm * DH 310 36.524 -10.536 127.5 m 128.5 m 1.0 m 112 ppm * and
130.5 m 131.5 m 1.0 m 110 ppm * and
137.5 m 138.5 m 1.0 m 120 ppm * and
166.5 m 167.5 m 1.0 m 110 ppm * DH 101 36.526 -10.534 128.7 m 130.1 m 1.4 m 354 ppm DH 302 36.525 -10.534 148.3 m 150.1 m 1.8 m 1154 ppm DH 211 36.520 -10.547 24.2 m 25.7 m 1.5 m 168 ppm and
181.1 m 183.9 m 2.8 m 169 ppm DH 226 36.523 -10.543 155.9 m 157.3 m 1.4 m 234 ppm and
159.7 m 160.8 m 1.1 m 109 ppm DH 243 36.533 -10.523 104.4 m 105.4 m 1.0 m 122 ppm DH 225 36.522 -10.543 170.8 m 174.7 m 3.9 m 290 ppm DH 223 36.521 -10.542 11.6 m 13.3 m 2.0 m 107 ppm DH 253 36.532 -10.52 142.5 m 145.7 m 3.2 m 129 ppm DH 204 36.520 -10.547 12.2 m 14.6 m 2.4 m 213 ppm and
22.4 m 24.6 m 2.2 m 257 ppm and
36.4 m 37.4 m 1.0 m 113 ppm DH 123 36.531 -10.525 21.7 m 26.3 m 4.6 m 256 ppm and
27.7 m 28.8 m 1.1 m 142 ppm DH 310 36.524 -10.536 37.5 m 41.2 m 3.7 m 126 ppm and
130.0 m 131.0 m 1.0 m 107 ppm DH 262 36.534 -10.519 146.51 m 147.51 m 1.0 m 187 ppm DH 263 36.533 -10.519 20.9 m 23.1 m 2.2 m 137 ppm and
29.7 m 31.1 m 1.4 m 443 ppm and
174.6 m 175.6 m 1.0 m 101 ppm DH 124 36.530 -10.524 64.4 m 65.9 m 1.5 m 124 ppm and
123.3 m 126.8 m 3.5 m 279 ppm DH 107 36.526 -10.533 140.5 m 142.1 m 1.6 m 154 ppm DH 212 36.521 -10.545 35.3 m 37.5 m 2.2 m 170 ppm and
95.3 m 96.3 m 1.0 m 115 ppm DH 224 36.521 -10.542 14.4 m 15.4 m 1.0 m 103 ppm DH 254 36.533 -10.520 52.0 m 54.3 m 2.3 m 290 ppm
Notes to table: (1) U3O8 figures updates for assay results from previously reported gamma-log data. * Assays based on core samples analysed by ALS Global (Vancouver). Preliminary evaluation suggests that a positive disequilibrium factor of approximately 1.8 is observed at Mtonya, which implies that downhole gamma readings in their current interpretation may significantly underestimate actual uranium grades. Only intercepts above 100 Grade Thickness are shown.

Grade Thickness is the product of the grade and true thickness of intercepted mineralisation. About Mtonya The Companys 100% owned Mtonya project is situated about 60 km south of Nyota, a significant uranium deposit currently developed by Uranium One. Mtonya is interpreted to be a classic sandstone-hosted roll-front deposit with remarkable similarities to the deposits of Wyoming, USA and Chu-Sarysu, Kazakhstan. To date, Mtonya has demonstrated continuous uranium mineralisation in stacked roll-fronts in Triassic arkoses, which is expected to be amenable to ISR. The Companys ongoing exploration programme is expected to generate sufficient data to delineate a maiden resource at Mtonya by the end of Q1 2013. Assaying and QA/QC The Company is using a Mount Sopris Matrix gamma-logging system to ensure proper instrument calibration and establish the framework for disequilibrium adjustments.

The disequilibrium factor (DEF) is used to adjust the grade obtained from measurements by a gamma-ray probe (eU3O8) and to provide rapid estimates for the uranium content in the rock. In addition to gamma-ray downhole surveys, Uranium Resources uses the most reliable methods of quantifying uranium mineralisation by sampling half-core and subjecting the samples to the ME-MS41 analysis at the ALS Global laboratory in Vancouver, BC, Canada. In accordance with industry standards, the assayed samples include certified standards and duplicates.

Analytical results are routinely subjected to statistical review. Competent Persons Declaration The information in this statement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information reviewed by Alex Gostevskikh, Managing Director of Uranium Resources plc, who is a Member of the Mining and Metallurgical Society of America.

Mr.

Gostevskikh has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies.

Mr.

Gostevskikh consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. **ENDS** For further information please visit www.uraniumresources.co.uk or contact: Alex Gostevskikh Uranium Resources plc Tel: +255 (0) 752 968 062 Ross Warner Uranium Resources plc Tel: +44 (0) 7760 487769 Samantha Harrison RFC Ambrian Ltd (Nomad) Tel: +44 (0) 20 3440 6800 Jason Robertson Optiva Securities Ltd Tel: +44 (0) 20 3137 1904 Hugo de Salis / St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Felicity Edwards About Uranium Resources Uranium Resources plc is an AIM listed exploration and development company.

It is the Companys strategy to advance its existing assets and strengthen its portfolio via opportunistic acquisition.

Uranium Resources has uranium exploration licences in the highly prospective Karoo Basins in southwestern Tanzania.
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