Aura Energy Limited Tiris Mining Lease Application Submitted

 
TIDMAURA 
 
The original release includes pictures from the Tiris Project Community 
                               Consultation Days 
 To view the original complete with images please see the Aura Energy website: 
             http://www.auraenergy.com.au/announcements-2017.html 
 
                                                                  24th May 2017 
 
                              AURA ENERGY LIMITED 
                           ("Aura" or the "Company") 
 
                 KEY TIRIS URANIUM PROJECT MILESTONE ACHIEVED 
 
                 MINING LEASE APPLICATION FOR TIRIS SUBMITTED 
 
  ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA) COMPLETED AS PART OF THIS 
                                    PROCESS 
 
 STRONG GOVERNMENT SUPPORT INCLUDING KEY MINISTRIES OF MINING AND ENVIRONMENT 
 
Aura Energy Limited (ASX:AEE, AIM:AURA) is pleased to advise that following a 
broad program of evaluation and study over the past 8 months a key milestone 
for the development and construction of the Tiris Project has been achieved 
with the submission of the Tiris Uranium Project Mining Lease Application on 
the target schedule to the Mauritanian Government. 
 
As part of the application Aura Energy completed an exhaustive Environmental 
and Social Impact Assessment (ESIA) covering all aspect of the project 
including community consultation in the regions close to the project location. 
 
Commenting on the Tiris Mining Lease Application, Peter Reeve, Executive 
Chairman said: "This milestone for Aura's Tiris Uranium Project will now bring 
into clear focus that Tiris is now in that next important group of uranium 
projects that, subject to financing, will be developed. Due to its low capital 
cost, the implementation of Tiris is very achievable to meet the next expected 
cycle of rising uranium prices." 
 
The Mining Lease Application will now be reviewed by various departments within 
the Mauritanian Mines Department and Environment Department over a period of 6 
months. 
 
The application documentation included the final agreed term sheet for the 
Tiris Shareholders Agreement, which covers the 10% Government interest in the 
Tiris Uranium Project and was successfully negotiated over the past 3 weeks. 
 
The completion of the Definitive Feasibility Study (DFS) for the Tiris Uranium 
Project is targeted for the end of 2017 however as previously advised, Aura 
envisages some elements of the Tiris DFS will still be outstanding at this 
point with full completion expected in early in 2018. This is not expected to 
impact project implementation and financing, as a number of parallel activities 
will be conducted near the end of the Tiris DFS. 
 
The critical areas remaining for the Tiris DFS are; 
 
  * The Tiris Project Water Study 
  * Metallurgical test work 
  * Tiris Mineral Resource upgrade 
  * Mining Study 
  * Detailed Engineering included package cost estimates 
  * Infrastructure Study 
 
Aura continues to plan for all requirements for the implementation of the Tiris 
Uranium Project during 2018 including construction, potential product offtake 
and financing review. The various departments within the Mauritanian 
Government, including the Mines and Environment departments remain very 
supportive of Aura's project initiative and are activity assisting in the 
projects implementation. 
 
                                   - ENDS - 
 
For further information contact: 
 
Aura Energy Limited                   Telephone: [phone] 
Peter Reeve (Executive Chairman and   Email: [e-mail] 
CEO) 
 
WH Ireland Limited                    Telephone: [phone] 
Adrian Hadden 
James Bavister 
 
Yellow Jersey PR Limited              Telephone: 
Felicity Winkles                      [phone] 
Joe Burgess                           [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

May 24, 2017 02:00 ET (06:00 GMT)