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Uranium Resources secures option on Nev. mining claims

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Uranium Resources secures option on Nev. mining claims

Uranium Resources Inc. said March 27 that its Lithium Holdings Nevada LLC subsidiary secured a one-year option to acquire a 100% undivided interest in a block of unpatented placer mining claims covering about 3,040 acres in Esmeralda County, Nev.

The claims adjoin the company's holdings at the Columbus basin project and expand the project area within the basin to over 14,200 acres.

Under the terms, the company made a one-time cash payment of C$75,000 and will pay an estimated C$23,560 in annual mining claim maintenance fees to the Bureau of Land Management by Aug. 15.

Uranium Resources will acquire the undivided 100% interest in the mineral claims by issuing 200,000 shares at closing and granting a 1% net smelter return royalty payable from any production and sale of lithium derived from the claims.