European Uranium -- Provides Operational Update
Vancouver, August 4, 2015 -- European Uranium Resources Ltd. ("EUU" or the "Company") (TSXV: EUU) provides the following update on its subsidiary's operations in the Slovak Republic.
On June 14, 2015, lawyers acting on behalf of Ludovika Energy, the Slovak subsidiary that held the Kuriskova Uranium permit, filed court proceedings against the Ministry of Environment in Slovakia in respect to its decision not to grant the extension of the Uranium Permits.
The company now advises that Ludovika Energy is in the final stages of negotiating an agreement with its lawyers that would see the deferment of any payment of fees or costs associated with the proceedings until the outcome of those proceedings is determined, with fees payable only if the outcome is favorable.
The company also advises that the applications Ludovika currently has before the ministry for Rare Earth exploration licenses over the area of the Kuriskova and Novoveska Huta uranium projects are still being processed by the ministry.
The company will update shareholders as developments occur.
As stated previously, shareholders should note that the legal proceedings are separate and independent to the applications that Ludovika has before the ministry for Rare Earths.
EUROPEAN URANIUM RESOURCES LTD.
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Dorian (Dusty) Nicol, at (604) 536-2711, or visitwww.euresources.com.
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This news release contains forward-looking statements that are based on the Corporation's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.