Ur-Energy
Announces Senior Leadership Changes
Littleton,
Colorado (InvestorsHub
NewsWire - March 1, 2022) Ur-Energy Inc.
(NYSE American:URG) (TSX:URE) (the "Company" or "Ur-Energy") announces that
Jeffrey T. Klenda, the Company's Chairman, CEO and President is
resigning as chief executive officer, effective on March 1, 2022.
John W. Cash, the Company's current Vice President Regulatory
Affairs, has been named as the new Chief Executive Officer and has
been appointed to serve as a member of the Board of Directors
effective on the same date. Mr. Klenda will remain as Chairman and
President at this time.
Mr. Klenda is a co-founder of
Ur-Energy and has led the Company since its inception, to public
listings in Canada (TSX, 2005) and the United States (NYSE
American, 2008), the acquisition of the Company's flagship Lost
Creek Project through to its first eight years of production
operations and bringing the Shirley Basin project back onto the ISR
map where it premiered in situ
uranium recovery nearly 60 years
ago. After nearly two decades at the helm of Ur-Energy, Mr. Klenda has decided for personal
reasons to step back from the day-to-day chief executive role,
while continuing to serve as the Company's Chairman and President.
The Company anticipates that Mr. Klenda's continuing role as
Chairman and President will provide a valuable transition period
and will conclude with his retirement following the Company's
Annual General Meeting of Shareholders to be held in June 2022. At
that time, Mr. Cash will also assume the role of President of the
Company.
Thomas Parker, the Lead
Independent Director of the Company, said, "Our Board, and I
personally, would like to express our sincere gratitude to Jeff for
his leadership in building and sustaining our Company. His tireless
efforts have placed Ur-Energy in its leadership role in the uranium
recovery industry. Jeff has built and led a management team,
including his successor John Cash, which guided us to production
operations at Lost Creek and the full permitting of our Shirley
Basin Project, which stands construction ready."
Mr. Cash joined Ur-Energy in 2007
and has led the permitting and licensure of both the Lost Creek and
Shirley Basin uranium mines, while managing the environmental,
health and safety ("EHS") and geology departments and contributing
to the development and growth of the Company. Mr. Cash was
appointed as Vice President Regulatory Affairs in 2011. During his
tenure with Ur-Energy, Mr. Cash has gained a well-deserved
reputation for developing impactful solutions for industry related
to water management, EPA aquifer exemptions, technical design, and
environmental matters. He is a respected industry leader and has
served as a past president of the Uranium Producers of
America.
Mr. Cash said, "I wish to thank
Mr. Klenda and the Board of Directors for the confidence they have
placed in me, and I commit to continue working for every success of
the Company and to ensure their confidence is well placed. Over the
past 14 years I have consistently found that Ur-Energy's management
and staff are exceptional, and I am excited to continue working
with them to advance the Company in my new role. Our operating Lost
Creek mine, licensed at 2.2 million pounds per year, has proven to
be a prolific producer and we are actively installing wells and the
next header house to facilitate a quick ramp up as market
conditions continue to improve and for when our go-decision is
made. Ur-Energy is staffed with miners, from top to bottom, and we
are excited about the future of our Company and our
industry."
Mr. Cash has nearly 30 years of
diverse experience in the uranium industry, from which he has
acquired broad-reaching expertise in exploration, EHS including
radiation safety, regulatory and legislative affairs, and uranium
recovery operations, as well as extensive management experience.
Prior to joining Ur-Energy, Mr. Cash worked for established uranium
mining companies, including BHP, Rio Algom Mining, and Crow Butte
Resources, a subsidiary of Cameco, in various roles in mineral
exploration, as Operations Superintendent and EHS Manager. As
Operations Superintendent, Mr. Cash managed all aspects of
wellfield production and plant processing at the 800,000 lbs.
U3O8
per year Crow Butte ISR facility.
Mr. Cash is a Fellow of the inaugural World Nuclear Summer
Institute. Mr. Cash received B.Sc. and M.Sc. degrees in Geology and
Geophysics from the University of Missouri-Rolla.
Mr. Klenda said of Mr. Cash, "We
believe that John is the leadership of the future: for our
industry, our Company and our shareholders. He is widely known and
well respected for his industry knowledge and integrity. John
brings vision, ingenuity and pragmatism to our challenging yet
exciting industry which is critical to our nation's security and
economic and climate future. I couldn't be more pleased and
confident to be passing the reigns of our Company to his capable
guiding hand.
"I would also like to take this
opportunity to thank our Board, my executive management team and
our long-serving staff, all of whom are so dedicated to Ur-Energy.
I am confident that the commitment they have demonstrated to
produce the many achievements of our Company to date will continue
and, with John in his new roles, Ur-Energy will continue to grow
and be successful. I thank each of you for your dedication and
service to Ur-Energy."
About
Ur-Energy
Ur-Energy is a uranium mining
company operating the Lost Creek in-situ
recovery uranium facility in
south-central Wyoming. We have produced, packaged, and shipped
approximately 2.6 million pounds U3O8
from Lost Creek since the
commencement of operations. Ur-Energy now has all major permits and
authorizations to begin construction at Shirley Basin, the
Company's second in situ
recovery uranium facility in
Wyoming and is in the process of obtaining remaining amendments to
Lost Creek authorizations for expansion of Lost Creek.
Ur-Energy is engaged in uranium mining, recovery
and processing activities, including the acquisition, exploration,
development, and operation of uranium mineral properties in the
United States. The primary trading market for Ur-Energy's common shares is on the NYSE
American under the symbol "URG." Ur-Energy's common shares also trade on the
Toronto Stock Exchange under the symbol "URE." Ur-Energy's
corporate office is located in Littleton, Colorado and its
registered office is located in Ottawa, Ontario.
FOR FURTHER
INFORMATION, PLEASE CONTACT
John W. Cash, Chief Executive
Officer
866-981-4588 (ext.
303)
John.Cash@Ur-Energy.com
