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<SEC-DOCUMENT>0001157523-08-004312.txt : 20080514
<SEC-HEADER>0001157523-08-004312.hdr.sgml : 20080514
<ACCEPTANCE-DATETIME>20080514170639
ACCESSION NUMBER:		0001157523-08-004312
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080512
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080514
DATE AS OF CHANGE:		20080514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			URANIUM RESOURCES INC /DE/
		CENTRAL INDEX KEY:			0000839470
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				752212772
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33404
		FILM NUMBER:		08832670

	BUSINESS ADDRESS:	
		STREET 1:		12750 MERIT DRIVE
		STREET 2:		SUITE 720
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75251
		BUSINESS PHONE:		9723877777

	MAIL ADDRESS:	
		STREET 1:		12750 MERIT DRIVE
		STREET 2:		SUITE 720
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75251
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5683978.htm
<DESCRIPTION>URANIUM RESOURCES, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <b><font style="font-size: 10pt; font-family: Times New Roman">UNITED
      STATES</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><b><font style="font-size: 10pt; font-family: Times New Roman">WASHINGTON,
      D.C. 20549</font></b><br><b><font style="font-size: 10pt; font-family: Times New Roman">______________</font></b><br>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 10pt; font-family: Times New Roman">FORM 8-K</font></b>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 10pt; font-family: Times New Roman">CURRENT
      REPORT</font></b><br><b><font style="font-size: 10pt; font-family: Times New Roman">Pursuant
      to Section 13 or 15(d) of the</font></b><br><b><font style="font-size: 10pt; font-family: Times New Roman">Securities
      Exchange Act of 1934</font></b><br><br><b><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported):</font></b><font style="font-size: 10pt; font-family: Times New Roman">
      May 12, 2008</font><br><br><br><u><font style="font-size: 10pt">URANIUM
      RESOURCES, INC.</font></u><br><b><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font></b><br><br>
    </p>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Delaware</u>
          </p>
        </td>
        <td style="text-align: center; width: 34%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>0-17171</u>
          </p>
        </td>
        <td style="text-align: center; width: 33%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>75-2212772</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(State or other </b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>jurisdiction</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>of incorporation)</b>
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Commission File</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Number)</b>
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(I.R.S. Employer</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    <p>
      <br>

    </p>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            405 State Highway 121 Bypass, Building A, Suite 110
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Lewisville, TX
          </p>
        </td>
        <td style="text-align: center; width: 50%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            75067
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b><font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font></b>
          </p>
        </td>
        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b><font style="font-size: 10pt; font-family: Times New Roman">(Zip
            Code)</font></b>
          </p>
        </td>
      </tr>
    </table>
    <p style="text-align: center">
      <br>
      <u>(972) 219-3330</u><br>(<b><font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code)</font></b>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <br>
      <br>
      <b><font style="font-size: 10pt; font-family: Times New Roman">(Former
      name or former address, if changed since last report)</font></b>
    </p>
    <p>

    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b><font style="font-size: 10pt; font-family: Times New Roman">Item
      1.01.&#160;&#160;&#160;&#160;&#160;</font>Registrant's Business and
      Operations</b>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      The registrant and BHP Billiton Limited have mutually agreed to extend
      the deadline for closing on the registrant&#8217;s acquisition of Rio Algom
      Mining LLC until August 1, 2008, from June 1, 2008.
    </p>
    <p>
      <br>
      <b><font style="font-size: 10pt; font-family: Times New Roman">Item
      8.01.&#160;&#160;&#160;&#160;&#160;Other Events</font></b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      On May 12, 2008, the Registrant issued a press release relating to
      financial results for the first quarter of 2008.
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      A copy of the press release is attached hereto as Exhibit 99.1 and is
      incorporated herein by reference.
    </p>
    <p>
      <br>
      <b><font style="font-size: 10pt; font-family: Times New Roman">Item
      9.01.&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</font></b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      Exhibit 99.1 Press Release dated May 12, 2008
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">SIGNATURES</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the Registrant
      has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.</font>
    </p>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 8%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            URANIUM RESOURCES, INC.
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 15%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="text-align: left; width: 8%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 8%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Date:
        </td>
        <td style="text-align: left; width: 15%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            May 14, 2008
          </p>
        </td>
        <td style="width: 25%">

        </td>
        <td style="text-align: left; width: 8%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; border-bottom: solid black 1.0pt; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Thomas H. Ehrlich
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td colspan="2">

        </td>
        <td style="width: 8%">

        </td>
        <td style="text-align: left; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Thomas H. Ehrlich
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td colspan="2">

        </td>
        <td style="width: 8%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    <p>

    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: left">
      <b><font style="font-size: 10pt; font-family: Times New Roman">Exhibit
      Index</font></b>
    </p>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="text-align: left; width: 20%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="text-align: left; width: 80%; padding-left: 0.0px" valign="bottom">
          <u>Description</u>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 20%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit 99.1
          </p>
        </td>
        <td style="text-align: left; width: 80%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated May 12, 2008
          </p>
        </td>
      </tr>
    </table>
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5683978ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 12pt; font-family: Times New Roman">Uranium
      Resources, Inc. Reports First Quarter 2008 Results</font></b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b><font style="font-size: 12pt; font-family: Times New Roman">Revenue
        increased 25.3% on higher uranium sales at higher per pound selling
        price</font></b>
      </li>
      <li style="margin-bottom: 10.0px">
        <b><font style="font-size: 12pt; font-family: Times New Roman">Kingsville
        Dome production above last year; latest wellfield online in April</font></b>
      </li>
      <li style="margin-bottom: 10.0px">
        <b><font style="font-size: 12pt; font-family: Times New Roman">Rosita
        wellfield scheduled for mid May start-up</font></b>
      </li>
    </ul>
    <p>
      LEWISVILLE, Texas--(BUSINESS WIRE)--Uranium Resources, Inc. (NASDAQ:
      URRE) (&#8220;URI&#8221;), a uranium exploration, development, mining and production
      company, announced today its financial results for the first quarter of
      2008, which ended March 31, 2008.
    </p>
    <p>
      Revenue for the first quarter of 2008 increased 25.3% to $5.7 million,
      compared with $4.6 million during last year&#8217;s first quarter. During the
      quarter, URI sold 81,100 pounds of uranium, a 1.8% increase from the
      79,700 pounds of uranium sold in first quarter of 2007. URI received an
      average sales price per pound of $70.66 in the first quarter of 2008, up
      $13.25 per pound compared with an average per pound price of $57.41 in
      the same period last year. Sales were lower than the 113,000 pounds sold
      at an average price of $72.72 per pound in the trailing fourth quarter
      of 2007.
    </p>
    <p>
      The average cost of pounds sold in the first quarter of 2008 was $50.02
      compared with $41.08 in the first quarter of 2007 and $38.72 in the
      trailing fourth quarter. Cost of sales includes operating expense and
      depreciation, depletion and amortization (DD&amp;A), but excludes royalties
      and commissions. Higher costs were the result of lower levels of
      production from less prolific wellfields, new production from higher
      cost areas such as Vasquez and additional costs associated with
      pre-operating activities related to the start-up of new wellfields at
      Vasquez and Rosita. Finished uranium inventory was 23,100 pounds at
      March 31, 2008, held at an average cost of $36.41 per pound.
    </p>
    <p>
      Dave Clark, president and CEO of URI, commented, &#8220;Although production
      delays at our Texas wellfields adversely impacted our uranium sales and
      drove our cost of production higher during the first quarter, we expect
      increased levels of production in the second quarter to drive production
      cost lower.&quot;
    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The net loss for the first quarter of 2008 was $1.8 million, or $0.04
      per diluted share, compared with a net loss of $1.4 million, or $0.03
      per diluted share, in the same period last year and a net loss of $0.84
      million, or $0.02 per diluted share, in the trailing fourth quarter of
      2007.
    </p>
    <p>
      The higher net loss compared with the prior year first quarter and the
      trailing quarter was attributed to higher production expenses and a $136
      thousand impairment charge of the carrying value of the Company&#8217;s
      Vasquez property. General and administrative (G&amp;A) expenses were higher
      in the first quarter primarily due to work performed in the review and
      assessment of our New Mexico property data bases to evaluate their
      potential as&#160;conventional mining projects and other costs related to
      community outreach and information campaigns designed to enhance public
      awareness of our planned New Mexico operations.
    </p>
    <p>
      Cash at the end of the quarter was $5.2 million, down from $9.3 million
      at the end of last year, but even with the level of cash at the end of
      February 2008. Cash provided by operations was $808 thousand in the
      first quarter of 2008 up from the $730 thousand in cash generated in
      last year&#8217;s first quarter.
    </p>
    <p>
      <b>First Quarter Production</b>
    </p>
    <p>
      URI produced 83,400 pounds of uranium during the first quarter of 2008,
      a 23.5% decline from 109,000 pounds produced during the prior year&#8217;s
      first quarter and a 22.6% sequential increase from 68,000 pounds
      produced during the fourth quarter of 2007. The decline in production
      for the current quarter compared with last year&#8217;s first quarter was due
      to the delay of two wellfields planned for earlier in the quarter.
      Production costs for the quarter were $49.78 per pound compared with
      $34.44 pound in the same quarter of 2007 and $45.72 in the trailing
      fourth quarter of 2007. Production costs include operating expenses and
      DD&amp;A.
    </p>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Production &amp; Sales Summary</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Q1 2008</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Q4 2007</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Q3 2007</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Q2 2007</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Q1 2007</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Pounds U<sub>3</sub>O<sub>8 </sub>produced
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          83,400
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          68,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          103,800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          135,900
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          109,000
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Production cost per pound
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          49.78
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          45.72
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          28.41
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          27.78
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          34.44
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Pounds U<sub>3</sub>O<sub>8</sub> sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          81,100
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          113,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          127,800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          114,400
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          79,700
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Direct cost of sales per pound
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          50.02
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          38.72
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          26.80
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          29.44
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          41.08
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Average selling price per pound
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          70.66
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          72.72
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          81.25
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          69.63
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57.41
        </td>
      </tr>
    </table>
    <p>
      Production for the first quarter of 2008 was comprised of 4,300 pounds
      from Vasquez and 79,100 pounds from Kingsville Dome. Production in the
      fourth quarter of 2007 included 8,300 pounds from Vasquez and 59,700
      pounds from Kingsville Dome.
    </p>
    <p>
      <b>Texas Operations Update</b>
    </p>
    <p>
      The restart of Rosita production, scheduled for mid-May, along with
      recent new wellfields at Kingsville Dome is expected to yield second
      quarter production in the range of 95,000 to 105,000 pounds. Production
      for 2008 is still projected to come within a range of 400,000 to 450,000
      pounds. Existing reserves should allow the Company to produce at this
      level through 2009.
    </p>
    <p>
      URI is currently evaluating the Mosser and Marshall properties that were
      acquired in 2007, and plans to conduct exploration drilling on these
      properties in 2008. In addition, the Company is aggressively working to
      acquire additional properties that include known reserves as well as
      highly favorable exploration targets.
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Mr. Clark commented, &quot;Our Texas operations remain our core business.
      Given the opportunities we are now seeing we believe we can rebuild our
      reserve base to a level that will allow the Company to achieve its
      long-term goal to produce 1 to 2 million pounds per year in Texas.&quot;
    </p>
    <p>
      <b>New Mexico Operations Update</b>
    </p>
    <p>
      Oral arguments are scheduled for today, May 12, 2008, on the Company&#8217;s
      appeal to the United States Court of Appeals for the Tenth Circuit
      regarding the United States Environmental Protection Agency (USEPA)
      determination that Section 8 of URI&#8217;s Church Rock property in New Mexico
      is Indian country, and therefore, under its jurisdiction to administer
      the UIC program permit required for ISR mining. It is expected the
      ruling from this hearing will be made in three to twelve months.
    </p>
    <p>
      <b>Rio Algom Acquisition Update</b>
    </p>
    <p>
      URI and BHP Billiton have agreed to extend the date for the closing of
      Rio Algom Mining LLC (&quot;Rio Algom&quot;) acquisition for 60 days until August
      1, 2008. This extension is needed to obtain the concurrence of the NRC
      for the transfer of ownership of Rio Algom that is required before a
      closing can be completed.
    </p>
    <p>
      Mr. Clark noted, &#8220;We continue to be involved in ongoing discussions with
      BHP Billiton as well as several other companies in the district who need
      a conventional mill to move toward production. Once the necessary
      approvals are obtained the company will be able to move forward toward
      closing the Rio Algom acquisition in a manner that is beneficial to our
      shareholders.&quot;
    </p>
    <p>
      As background, URI had announced on October 12, 2007, that it had
      entered into a definitive agreement with BHP Billiton to acquire 100% of
      the ownership of Rio Algom Mining LLC. Under the agreement, URI will pay
      BHP Billiton $110 million in cash and assume certain retirement benefits
      and reclamation liabilities of which up to $35 million will be
      pre-funded at closing. URI will also pay BHP Billiton $16.5 million
      contingent upon the receipt of a license from the Nuclear Regulatory
      Commission (NRC) to construct and operate a conventional uranium mill.
    </p>
    <p>
      <b>Teleconference and Webcast</b>
    </p>
    <p>
      The Company is hosting a teleconference and webcast at 8:30 a.m. EDT on
      Tuesday, May 13, 2008. During the teleconference, Dave Clark, President
      and Chief Executive Officer, will review the financial and operating
      results for the first quarter and discuss URI&#8217;s corporate strategy and
      outlook. A question-and-answer session will follow. The URI conference
      call can be accessed by calling (201) 689-8562 approximately 20 minutes
      prior to the call. Alternatively, it can be listened to at the Company&#8217;s
      website at <u>http://www.uraniumresources.com</u>. Participants should
      go to the website 10 - 15 minutes prior to the scheduled conference in
      order to register and download any necessary audio software.
    </p>
    <p>
      An archive of the teleconference can also be heard by calling (201)
      612-7415 and entering account number 3055 along with conference ID
      number 284407. The telephonic replay will be available from 11:30 a.m.
      EDT the day of the teleconference until 11:59 p.m. Tuesday, May 20,
      2008. The archived webcast will be at <u>http://www.uraniumresources.com</u>.
      A transcript of the call will also be posted, once available.
    </p>
    <p>
      <b>ABOUT URANIUM RESOURCES, INC.</b>
    </p>
    <p>
      Uranium Resources Inc. explores for, develops and mines uranium. Since
      its incorporation in 1977, URI has produced over 7 million pounds of
      uranium by in-situ recovery (ISR) methods in the state of Texas where
      the Company currently has ISR mining projects. URI also has 183,000
      acres of uranium mineral holdings and 100 million pounds of uranium in
      New Mexico. The Company acquired these properties over the past 20 years
      along with an extensive information database. URI&#8217;s strategy is to
      capitalize on the strong global market for uranium by fully exploiting
      its resource base in Texas and New Mexico, acquiring new assets and
      through joint ventures or partnerships.
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Safe Harbor Statement</b>
    </p>
    <p>
      This press release contains forward-looking statements within the
      meaning of the Private Securities Litigation Reform Act of 1995.
      Forward-looking statements are subject to risks, uncertainties and
      assumptions and are identified by words such as &#8220;expects,&#8221; &#8220;estimates,&#8221;
      &#8220;projects,&#8221; &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;could,&#8221; and other similar words.
      All statements addressing operating performance, events, or developments
      that the Company expects or anticipates will occur in the future,
      including but not limited to statements relating to the Company&#8217;s
      mineralized uranium materials, timing of receipt of mining permits,
      production capacity of mining operations planned for properties in South
      Texas and New Mexico, planned dates for commencement of production at
      such properties, revenue, cash generation and profits are
      forward-looking statements. Because they are forward-looking, they
      should be evaluated in light of important risk factors and
      uncertainties. These risk factors and uncertainties include, but are not
      limited to, the spot price of uranium, weather conditions, operating
      conditions at the Company&#8217;s mining projects, government regulation of
      the mining industry and the nuclear power industry, world-wide uranium
      supply and demand, availability of capital, timely receipt of mining and
      other permits from regulatory agents, the success of the acquisition of
      Rio Algom and other factors which are more fully described in the
      Company&#8217;s documents filed with the Securities and Exchange Commission.
      Should one or more of these risks or uncertainties materialize, or
      should any of the Company&#8217;s underlying assumptions prove incorrect,
      actual results may vary materially from those currently anticipated. In
      addition, undue reliance should not be placed on the Company&#8217;s
      forward-looking statements. Except as required by law, the Company
      disclaims any obligation to update or publicly announce any revisions to
      any of the forward-looking statements contained in this press release.
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="10" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>URANIUM RESOURCES, INC.<br>CONSOLIDATED BALANCE SHEETS</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Unaudited)</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>March 31,</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2008</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>December 31,</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2007</b>
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current assets:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,238,557
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9,284,270
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Receivables, net
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,314,123
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,652,574
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Uranium inventory
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          840,197
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          748,452
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Prepaid and other current assets
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          807,507
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          720,357
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Total current assets
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9,200,384
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13,405,653
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property, plant and equipment, at cost:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Uranium properties
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          89,842,384
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          85,525,808
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Other property, plant and equipment
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          924,917
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          821,811
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Less-accumulated depreciation, depletion and impairment
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (58,077,224
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (55,736,530
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Net property, plant and equipment
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          32,690,077
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          30,611,089
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other assets
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,961,707
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,837,064
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long-term investment:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Certificates of deposit, restricted
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6,408,130
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6,083,076
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          51,260,298
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,936,882
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>March 31,</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2008</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>December 31,</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2007</b>
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current liabilities:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Accounts and short term notes payable
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,903,613
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,157,475
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Current portion of restoration reserve
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,267,176
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,124,504
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Royalties and commissions payable
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          940,639
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,131,636
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Accrued interest and other accrued liabilities
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          636,632
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          709,400
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Current portion of long-term debt
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          188,924
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          210,616
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Total current liabilities
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,936,984
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,333,631
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other long-term liabilities and deferred credits
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,011,661
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,097,327
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long term capital leases, less current portion
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          167,391
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          178,665
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long-term debt, less current portion
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          450,000
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          450,000
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Commitments and contingencies (Notes 1, 2 and 5)
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Shareholders&#8217; equity:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Common stock, $.001 par value, shares authorized: 200,000,000;
          shares issued and outstanding (net of treasury shares):
          2008&#8212;52,305,129; 2007&#8212;52,305,129
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,343
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,343
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Paid-in capital
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          131,937,114
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          131,282,687
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Accumulated deficit
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (90,285,777
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (88,448,353
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Less: Treasury stock (38,125 shares), at cost
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9,418
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9,418
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Total shareholders&#8217; equity
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          41,694,262
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          42,877,259
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          51,260,298
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,936,882
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
    </table>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>URANIUM RESOURCES, INC.</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>CONSOLIDATED STATEMENTS OF OPERATIONS</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Unaudited)</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="5" style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>Three Months Ended</b><br><b>March 31,</b>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>2008</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>2007</b>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Revenue:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Uranium sales&#8212;
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,731,538
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,574,167
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Total revenue
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,731,538
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,574,167
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Costs and expenses:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Cost of uranium sales&#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Royalties and commissions
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          560,402
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          438,976
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Operating expenses
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,127,139
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,787,063
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accretion/amortization of restoration reserve
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          206,988
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          170,180
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Depreciation and depletion
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,930,581
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,487,049
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Impairment of uranium properties
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          135,842
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Exploration expenses
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          8,547
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Total cost of uranium sales
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,969,499
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,883,268
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Earnings from operations before corporate expenses
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          762,039
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          690,899
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Corporate expenses&#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          General and administrative
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,701,807
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,212,092
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Depreciation
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          34,213
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          21,162
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Total corporate expenses
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,736,020
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,233,254
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Loss from operations
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,973,981
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,542,355
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other income (expense):
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Interest expense
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (11,429
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td colspan="2" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (7,866
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Interest and other income, net
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          147,986
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          129,762
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="top">
          Net loss
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,837,424
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,420,459
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net loss per common share:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="top">
          Basic
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.04
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.03
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="top">
          Diluted
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.04
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.03
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Weighted average common shares and common equivalent shares per
          share data:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="top">
          Basic
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,305,129
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          51,795,006
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="top">
          Diluted
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          52,305,129
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          51,795,006
        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
    </table>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="10" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>URANIUM RESOURCES, INC.</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Unaudited)</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="7" style="text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>Three Months Ended</b><br><b>March 31,</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>2008</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>2007</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net loss
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,837,424
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,420,459
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Reconciliation of net earnings to cash provided by operations&#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accretion/amortization of restoration reserve
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          206,988
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          170,180
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Depreciation and depletion
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,964,794
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,508,211
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Impairment of uranium properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          135,842
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Decrease in restoration and reclamation accrual
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (250,986
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (330,720
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Stock compensation expense
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          654,427
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          773,672
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Other non-cash items, net
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          23,212
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          152,738
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Effect of changes in operating working capital items&#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          (Increase) decrease in receivables
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          338,451
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (405,808
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Decrease in inventories
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          277,400
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          198,886
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Increase in prepaid and other current assets
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (187,152
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (132,793
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Increase (decrease) in payables, accrued liabilities and deferred
          credits
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (517,627
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          216,451
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net cash provided by operations
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          807,925
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          730,358
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Investing activities:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Increase in certificates of deposit, restricted
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (325,054
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (51,515
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Additions to property, plant and equipment&#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Kingsville Dome
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2,159,188
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,763,946
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Vasquez
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (152,520
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (248,952
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Rosita
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,786,411
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,093,373
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Rosita South
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (15,302
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (539,537
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Churchrock
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (75,064
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (211,389
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Crownpoint
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (30,523
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (29,871
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Other property
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (226,858
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (357,681
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net cash used in investing activities
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4,770,920
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4,296,264
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Financing activities:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Payments on borrowings
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (82,718
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (68,158
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="top">
          Issuance of common stock, net
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17,760
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net cash used in financing activities
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (82,718
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (50,398
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net decrease in cash and cash equivalents
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4,045,713
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3,616,304
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash and cash equivalents, beginning of period
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9,284,270
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20,176,771
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash and cash equivalents, end of period
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,238,557
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          16,560,467
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
      </tr>
    </table>
    <p>

    </p>
    <p>
      CONTACT:<br>Investor:<br>Deborah K. Pawlowski/James M. Culligan<br>Kei
      Advisors LLC<br>716-843-3908/ 716-843-3874<br><u>dpawlowski@keiadvisors.com</u>/<u>jculligan@keiadvisors.com</u><br>or<br>Media:<br>April
      Wade, 505-440-9441<br>Director of Communications and Government Relations<br><u>awade@uraniumresources.com</u><br>or<br>Company:<br>David
      N. Clark, 361-883-3990<br>President &amp; CEO
    </p>
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</SEC-DOCUMENT>
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