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EXHIBIT 99.1
URANIUM RESOURCES, INC.
PRESS RELEASE FOR IMMEDIATE RELEASE
DALLAS, TEXAS OTCBB SYMBOL-URIX
OCTOBER 11, 2000
URANIUM RESOURCES, INC. ANNOUNCES AGREEMENT
DALLAS, October 11, 2000 -- Uranium Resources, Inc. (the "Company") announced
that it has entered into a definitive agreement with Texas regulatory
authorities and the Company's bonding company that provides the Company access
to up to $2.3 million of Company funds pledged to secure the Company's
restoration bonds. Approximately $300,000 has been released to the Company to
date. The funds are being used by the Company to perform restoration at the
Company's Kingsville Dome and Rosita mine sites in South Texas. The term of the
agreement extends through the end of 2001.
Paul K. Willmott, Chairman and CEO stated, "I want to express the
Company's and my personal appreciation to the parties involved in this agreement
for their cooperative efforts, without which the agreement would not have been
possible. The agreement we have announced today, together with the recent
$750,000 equity infusion, should permit the Company to remain operating through
February 2001. It will be necessary, however, to obtain additional funds to
permit us to survive thereafter, and our efforts are ongoing."
Except for historical information contained in this press release, the
matters discussed herein contain forward-looking statements. Readers are
cautioned not to place undue reliance on forward-looking statements. Such
forward-looking statements are inherently uncertain, and investors must
recognize that actual results may differ from management's expectations. Key
factors impacting current and future operations of the Company are discussed in
detail in the Company's reports filed under the Securities Exchange Act of 1934
and include, without limitation, the spot price of uranium, weather conditions,
operating conditions at the Company's mining projects, government regulation of
the mining industry and the nuclear power industry, the world-wide supply and
demand of uranium, availability of capital, timely receipt of mining and other
permits from regulatory agencies.
Uranium Resources, Inc. is a Dallas based uranium-mining company, whose
shares trade on the OTC Bulletin Board under the symbol URIX. The Company
specializes in in-situ solution mining and holds substantial uranium resources
in South Texas and New Mexico.
CONTACTS: Paul K. Willmott, President, or
Thomas H. Ehrlich, Vice President - CFO
Uranium Resources, Inc.
(972) 387-7777
(30)
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