GoviEx Uranium granted the Agaliouk Exploration Permit in Niger
New permit is adjacent to the Company’s Madaouela Project and increases Madaouela’s total Measured and Indicated Resources by approximately 12% to 110.76 million pounds
VANCOUVER, CANADA – GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) (“GoviEx” or “Company”) is pleased to announce that further to its news release of February 1, 2016, where the Company announced that the renewal application for Agaliouk exploration tenement adjacent to the current boundaries of the Madaouela Project in Niger had not been approved at that time, the Company now has been granted the Agaliouk Exploration Permit.
The Agaliouk Exploration Permit adds 11.67 million pounds (Mlb) U3O8 in the Measured and Indicated categories (of which 5.96 Mlb U3O8 relates to the open-pit amenable Miriam Deposit) and 9.35 Mlb U3O8 in the Inferred category to the Madaouela Project’s mineral resource statement relating to the Miriam, MSEE, and La Banane deposits. The mineral resource statement for the Madaouela Project now reflects aggregate mineral resources of 110.76 Mlb U3O8 Measured and Indicated and 27.66 Mlb U3O8 Inferred.1
GoviEx’s Founder and Chairman Govind Friedland stated, „On behalf of GoviEx and all local and international stakeholders, we warmly welcome the Niger Government’s issuance of the Agaliouk Exploration Permit to GoviEx, as approved by Nigerien Parliament, in support of the Company’s continued efforts in advancing the Madaouela Project towards commercial production.“
GoviEx CEO Daniel Major said, “The granting of the Agaliouk Exploration Permit allows us to add mineral resources amenable to lower-cost, open-pit mining to the Madaouela Project, which could result in prolonging the Madaouela Project’s mine-life beyond that projected in the Company’s 2015 Integrated Development Plan, which has the potential to further optimize the Madaouela Project’s economics.”
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