GrowthStockAnalyst.com: Big News at URXE!!!
12/19/2006
Dec 19, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Stocks to Watch: Urex Energy Corporation (OTCBB: URXE), Grant Life Sciences, Inc (OTCBB: GLIF), Delta Air Lines, Inc (PinkSheets: DALRQ), Goldspring, Inc (OTCBB: GSPG), Industrial Enterprises of America, Inc (OTCBB: IEAM)
Featured Stock: Urex Energy Corporation (OTCBB: URXE) Current Price (0.63) www.growthstockanalyst.com
Urex Energy Announces On-Going Development Activities in the Grants Uranium District Tuesday December 12, 5:00 pm ET RENO, Nev.----Urex Energy Corporation (the "Company" or "Urex") (OTCBB: URXE - News) reports that it has signed a confidentiality agreement (CA) with a private group that controls certain mining claims that lie adjacent to the Mt. Taylor uranium mine located in the Grant Mining District, New Mexico. The CA allows Urex geologists to review technical data with respect to the claims including maps, cross-sections, drill logs, and down-the-hole gamma logs.
The Mt. Taylor uranium mine, which is currently owned by Rio Grande Resources Corporation, is located in northwestern New Mexico in the Grants Mineral Belt. Uranium was discovered in the Mt. Taylor area in 1968 and delineation drilling identified an ore trend extending nearly 6 miles (10 km). Chevron Corporation began commercial production at Mt. Taylor in 1986, initially shipping the ore to Chevron's Panna Maria mill in south Texas for processing. More than 8 million pounds U3O8 (3,080 mtU) were produced from the Mt. Taylor mine before the mine was placed on standby in 1989.
Uranium mineralization in the Mt. Taylor deposit occurs within the Westwater Canyon sandstone of the Jurassic age Morrison Formation and is similar in form to trend-type deposits in the Ambrosia Lake uranium district. The deposit occurs at 3,000 feet (900 m) below the surface. Coffinite is the primary uranium mineral. Ore grades range from 0.15% to over 2.0% U3O8, and averaged 0.5% U3O8 during the production period. The Mt. Taylor mine contains an in-place resource of over 100 million pounds U3O8 (38,500 mtU).
The Company continues to seek opportunities within the Grants District with the objective to become a uranium producer. Urex is currently preparing to drill test its La Jara Mesa Extension uranium property located 4 miles west-southwest of the Mt. Taylor Mine.
For more information please visit the Company's website located at www.urexenergy.com.
About Urex Energy Corporation
Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.
Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits. Between 1950 and 1978 the Grants Mining District produced 270 million pounds of uranium oxide which ranks it as the most prolific uranium district in the United States.
Contact: Urex Energy Corp.
Mr. Brad Long, Investor Relations Toll Free: 866-493-(URXE) 8793 info@urexenergy.com www.urexenergy.com
Source: Urex Energy Corp.
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