The updated mineral resource estimate incorporates a cut-off grade of 100 ppm U3O8, additional drilling data and the use of uniform conditioning grade estimation methodology.
The updated mineral resource estimate shows a 39% increase in the measured resource category to 55.3 million pounds and a 48% increase in the indicated resource category.
The updated mineral resource estimate also shows a reduction in inferred resources of 9.8 million pounds U3O8 primarily resulting from the conversion of inferred resources into indicated and measured resources.
Uranium One will use the updated estimate as basis for the definitive feasibility study, to be carried out on the project, which is expected to be completed by the end of first quarter of 2012.
