<SEC-DOCUMENT>0001157523-12-001197.txt : 20120302
<SEC-HEADER>0001157523-12-001197.hdr.sgml : 20120302
<ACCEPTANCE-DATETIME>20120302144731
ACCESSION NUMBER:		0001157523-12-001197
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120301
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120302
DATE AS OF CHANGE:		20120302

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:		12662476

	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>a50190633.htm
<DESCRIPTION>URANIUM RESOURCES, INC. 8-K
<TEXT>
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      <font style="font-size: 12pt">UNITED STATES</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 10pt">WASHINGTON,
      D.C. 20549</font><br><br><font style="font-family: Times New Roman; font-size: 16pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt">CURRENT
      REPORT</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font><br><br>
    </p>
<div style="text-align:left">
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        <td style="text-align: left; padding-left: 0.0px; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date of Report (Date of Earliest Event Reported):
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 50%" valign="top">
          March 1, 2012
        </td>
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    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <u><font style="font-size: 20pt"><b>Uranium Resources, Inc.</b></font></u><br>(Exact
      name of registrant as specified in its charter)<br><br>
    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%" cellspacing="0">
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        <td style="text-align: center; padding-left: 0.0px; width: 27%; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 26%; border-bottom: solid black 1.0pt; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0-17171
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 27%; border-bottom: solid black 1.0pt; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            75-2212772
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 27%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td style="width: 10%">

        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 26%; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Number)
          </p>
        </td>
        <td style="width: 10%">

        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 27%; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
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    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%" cellspacing="0">
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        <td style="text-align: center; padding-left: 0.0px; width: 40%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            405 State Highway 121 Bypass,
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Building A, Suite 110 Lewisville, TX
          </p>
        </td>
        <td style="width: 35%">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 25%; border-bottom: solid black 1.0pt; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            75067
          </p>
        </td>
      </tr>
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        <td style="text-align: center; padding-left: 0.0px; width: 40%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="width: 35%">

        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 25%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Zip Code)
          </p>
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        <td style="text-align: center; padding-left: 0.0px; width: 50%" valign="top">
          Registrant&#8217;s telephone number, including area code:
        </td>
        <td style="text-align: center; white-space: nowrap; padding-left: 0.0px; width: 50%; padding-right: 0.0px" valign="top">
          (972) 219-3330
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 65%" cellspacing="0">
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        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="top">
          Not Applicable
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          Former name or former address, if changed since last report
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation<br>of the registrant under
      any of the following provisions:
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 12pt">&#8864;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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 style="white-space: nowrap">
      <b>Item 8.01 &#160;&#160;&#160;&#160;&#160;&#160;Other Events. </b>
    </p>
    <p>
      On March 1, 2012, Uranium Resources, Inc., a Delaware corporation
      (&#8220;URI&#8221;) issued a press release relating to the execution, among other
      transaction documents, of a definitive merger agreement on March 1,
      2012, by and among URI, URI Merger Corporation, a Nevada corporation and
      wholly-owned subsidiary of URI (&#8220;Merger Sub&#8221;), and&#160;&#160;Neutron Energy,
      Inc., a Nevada corporation (&#8220;Neutron&#8221;) under which Merger Sub will be
      merged with and into Neutron, with Neutron continuing as the surviving
      corporation and becoming a wholly-owned subsidiary of URI.&#160;&#160;A copy of
      that press release is furnished as Exhibit 99.1 hereto.&#160;&#160;Within four
      business days, URI intends to file a Form 8-K under Item 1.01and the
      other applicable items more fully covering this event.<br><br><br><br><b>Item
      9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      (d) &#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
    <p style="text-align: justify; white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibit 99.1:&#160;&#160;&#160;&#160;&#160;&#160;Press Release, dated March 1, 2012.
    </p>
    <p>

    </p>
    <p style="text-align: justify">
      <u><i><b>Additional Information</b></i></u>
    </p>
    <p>
      In connection with the proposed merger URI will file a registration
      statement on Form S-4, a joint proxy statement/prospectus and other
      relevant documents with the Securities and Exchange Commission (the
      &#8220;SEC&#8221;).&#160;&#160;Stockholders are urged to read the registration statement and
      joint proxy statement/prospectus when they become available, and any
      other relevant documents filed with the SEC, as well as any amendments
      or supplements to those documents, because they will contain important
      information.&#160;&#160;The registration statement and joint proxy
      statement/prospectus, once available, as well as other filings
      containing information about URI and Neutron, can be obtained without
      charge at the SEC&#8217;s website (http://www.sec.gov) or by directing a
      request to URI:&#160;&#160;Deborah K. Pawlowski, 716.843.3908,
      dpawlowski@keiadvisors.com.
    </p>
    <p>
      URI and its directors and executive officers may be deemed to be
      participants in the solicitation of proxies from the shareholders of URI
      in connection with the proposed transaction.&#160;&#160;Information about the
      directors and executive officers of URI is set forth in the proxy
      statement for URI&#8217;s 2011 annual meeting of shareholders, as filed with
      the SEC on April 29, 2011. Additional information regarding the
      interests of those participants and other persons who may be deemed
      participants in the proposed transaction may be obtained by reading the
      joint proxy statement/prospectus regarding the proposed transaction when
      it becomes available.&#160;&#160;Investors may obtain free copies of these
      documents as described above.
    </p>
    <p>

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

        </div>
      </div>
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        <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 style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURES</font><br>
    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">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>
    <p style="font-size: 10pt; text-align: left; text-indent: 30.0px; font-family: Times New Roman">

    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Uranium Resources, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 46%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            March 1, 2012
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 4%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 46%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Thomas H. Ehrlich
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 4%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 46%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name: Thomas H. Ehrlich
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 4%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 46%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title: Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

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

    </p>
    <p style="text-align: center">
      <b>Exhibit Index</b><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 15%" valign="bottom">
          <b>Exhibit </b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Number</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 85%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 15%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit 99.1:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 85%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release, dated March 1, 2012.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50190633ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: right">
      Filed by Uranium Resources, Inc.<br>(SEC file no. 0-17171)<br>Pursuant
      to Rule 425 under the Securities Act of 1933<br>and deemed filed
      pursuant to Rule 14a-12<br>under the Securities Exchange Act of 1934<br>
    </p>
    <p style="text-align: left">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Uranium
      Resources Signs Definitive Agreement to Acquire Neutron Energy and
      Executes Financing Agreement with Resource Capital Fund</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Combination
      will create significant uranium development company</b></font></i>
    </p>
    <p>
      LEWISVILLE, Texas--(BUSINESS WIRE)--March 1, 2012--Uranium Resources,
      Inc. (NASDAQ:&#160;URRE) (&#8220;URI&#8221; or the &#8220;Company&#8221;), announced today that it
      has entered into a merger agreement to acquire 100% of the equity
      capital of Neutron Energy, Inc. (&#8220;Neutron&#8221;) in a stock-for-stock
      transaction (the &#8220;Transaction&#8221;). At the same time as the Transaction, an
      affiliate of Resource Capital Fund V L.P. (&#8220;RCF&#8221;) will provide $20
      million that will be used to retire the majority of Neutron&#8217;s
      outstanding debt owed to RMB Australia Holdings Limited (&#8220;RMB&#8221;) in
      exchange for URI common stock. The remainder of Neutron debt owed to RMB
      will be converted into URI common stock, resulting in URI acquiring
      Neutron on a debt-free basis. A total of 37 million URI common shares
      will be issued for the merger, resulting in a total consideration of
      $38.1 million, based on URI&#8217;s closing stock price on February 24, 2012
      of $1.03.
    </p>
    <p>
      URI has also entered into an investment agreement with RCF, pursuant to
      which RCF will provide an additional $10 million in funding to URI
      through the purchase of an additional 10.3 million URI shares within 10
      days of the signing of the definitive agreement. At closing of the
      merger, URI, at its option, can receive an additional $5 million from
      RCF. The $10 million provided by RCF, as well as the optional $5 million
      available to URI, will be used for working capital and to advance the
      development of projects held by URI and Neutron.
    </p>
    <p>
      Don Ewigleben, President and CEO of URI, commented, &#8220;This acquisition
      represents a significant consolidation of uranium properties in New
      Mexico and will position URI as one of the largest U.S.-based uranium
      development companies. It also provides the combined company with
      significant scale, strategic resource development synergies in the
      Ambrosia Lake region and a previously permitted conventional mill site.
      We believe the participation of sophisticated investors, such as RCF and
      RMB, in this transaction is a testament to the value of this merger and
      the potential of the combined company.&#8221;
    </p>
    <p>
      Neutron is a private uranium exploration and development company with
      significant assets located in the Grants Mineral Belt of New Mexico,
      including the Cebolleta and Juan Tafoya projects that cover 10,814
      acres. The Cebolleta property contains 6.68 million tons of mineralized
      material at a grade of 0.176% U3O8 and 4.5 million tons of mineralized
      material at a grade of 0.09% U3O8, while the Juan Tafoya property
      contains 3.81 million tons of mineralized material at a grade of 0.149%
      U3O8 and 0.39 million tons of mineralized material at a grade of 0.112%
      U3O8. These properties are located on private lands and are planned to
      be mined using conventional techniques. Neutron also holds a suite of
      properties that neighbor certain URI properties west of Mt. Taylor, in
      the Ambrosia Lake region, that contain 3.2 million tons of mineralized
      material at a grade of 0.148% U3O8. Most of the mineralized material at
      the Ambrosia Lake projects is planned to be mined using conventional
      techniques, while there may be small isolated pockets which can be mined
      by ISR techniques. Neutron also has uranium assets in South Dakota and
      Wyoming.
    </p>
    <p>
      The total of the New Mexico uranium holdings for the combined companies
      is over 206,600 acres.
    </p>
    <p>
      The expected strategic benefits of URI&#8217;s acquisition of Neutron include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        URI will be positioned as one of the largest U.S. uranium development
        companies
      </li>
      <li style="margin-bottom: 10.0px">
        Adds a good balance of mid- and long-term uranium production
        opportunities
      </li>
      <li style="margin-bottom: 10.0px">
        Addition of a previously permitted, constructed and torn down, but not
        operated, conventional mill site
      </li>
      <li style="margin-bottom: 10.0px">
        Resource development synergies on neighboring properties in the
        Ambrosia Lake region
      </li>
      <li style="margin-bottom: 10.0px">
        Addition of highly qualified mining and permitting professionals to
        the URI team
      </li>
      <li style="margin-bottom: 10.0px">
        Significant exploration upside from the portfolio of Neutron properties
      </li>
      <li style="margin-bottom: 10.0px">
        URI better placed to complete further consolidation in New Mexico
      </li>
      <li style="margin-bottom: 10.0px">
        Addition of sophisticated, supportive mining investors in RCF and RMB
      </li>
    </ul>
    <p>
      Mr. Ewigleben noted, &#8220;We continue to pursue opportunities to enhance our
      asset base and concentrate uranium ownership in New Mexico, which we
      believe will again be a key provider of fuel to support both existing
      and planned nuclear energy facilities that both developed and developing
      economies require for clean inexpensive energy. URI expects to be in a
      strong position to advance its key development assets with the support
      of RCF as a significant shareholder.&#8221;
    </p>
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    <p>
      Under the terms of the transaction agreements with Neutron, RMB and RCF,
      the 37 million shares of URI common stock to be issued will be
      distributed as follows: 24.6 million URI shares to RCF; 8.4 million URI
      shares to RMB; 3.8 million URI shares to be distributed to current
      shareholders of Neutron; and 0.2 million URI shares to be used to
      satisfy certain obligations of Neutron. Upon completion of the
      acquisition and RCF&#8217;s initial $10 million private placement (excluding
      the optional $5 million RCF investment), URI will have 143.1 million
      shares outstanding.
    </p>
    <p>
      The Transaction, which has been unanimously approved by the Boards of
      Directors of both URI and Neutron, is subject to shareholder approval
      and is expected to close in the third quarter of 2012. Cormark
      Securities Inc. acted as financial advisor to URI in connection with the
      Transaction and has delivered an opinion to the effect that, as of the
      date of such opinion and based upon and subject to the assumptions,
      limitations and qualifications stated in such opinion, the Transaction
      is fair from a financial point of view to the shareholders of URI. Roth
      Capital Partners LLC acted as financial advisor to Neutron.
    </p>
    <p>
      <b>Webcast and Conference Call Information</b>
    </p>
    <p>
      URI will host a conference call and webcast to discuss the acquisition
      on Friday, March 2, 2012 at 11:30 a.m. ET. To access the conference
      call, please dial 201-689-8471. The live webcast can be monitored at <u>www.uraniumresources.com</u>,
      where it will be archived afterwards.
    </p>
    <p>
      A replay of the call will be available from 2:30 pm ET the day of the
      call until Friday, March 9, 2012. To listen to the archived call, dial
      (858) 384-5517 and enter replay pin number 389994. A transcript will
      also be posted to the website, once available.
    </p>
    <p>
      <b>Additional Information about the Transaction</b>
    </p>
    <p>
      The Transaction will be submitted to each of URI and Neutron&#8217;s
      shareholders for approval. URI will file a registration statement, a
      joint proxy statement/prospectus and other relevant documents with the
      Securities and Exchange Commission (the &#8220;SEC&#8221;). Shareholders are urged
      to read the registration statement and joint proxy statement/prospectus
      when they become available, and any other relevant documents filed with
      the SEC, as well as any amendments or supplements to those documents,
      because they will contain important information. Investors will be able
      to obtain a free copy of the registration statement and joint proxy
      statement/prospectus, as well as other filings containing information
      about URI and Neutron, at the SEC&#8217;s website (<u>http://www.sec.gov</u>).
      Investors will also be able to obtain these documents, free of charge,
      by accessing URI&#8217;s website (<u>www.uraniumresources.com</u>).
    </p>
    <p>
      URI and its directors and executive officers may be deemed to be
      participants in the solicitation of proxies from the shareholders of URI
      in connection with the Transaction. Information about the directors and
      executive officers of URI is set forth in the proxy statement for URI&#8217;s
      2011 annual meeting of shareholders, as filed with the SEC on April 29,
      2011. Additional information regarding the interests of those
      participants and other persons who may be deemed participants in the
      Transaction may be obtained by reading the joint proxy
      statement/prospectus regarding the Transaction when it becomes
      available. Investors may obtain free copies of these documents as
      described above.
    </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 8 million pounds of
      uranium by in-situ recovery (ISR) methods in the state of Texas. URI
      also has 183,000 acres of uranium mineral holdings and 101.4 million
      pounds of in-place mineralized uranium material in New Mexico and an NRC
      license to produce up to 1 million pounds of uranium per year. The
      Company acquired these properties over the past 20 years along with an
      extensive information database of historic mining logs and analysis.
      None of URI&#8217;s properties is currently in production.
    </p>
    <p>
      URI&#8217;s strategy is to fully develop its resource base in New Mexico and
      Texas, expand its asset base both within and outside of New Mexico and
      Texas, partner with larger mining companies that have undeveloped
      uranium assets or with junior mining companies that do not have the
      mining experience of URI, as well as provide restoration expertise to
      those that require the capability or lack the proficiency.
    </p>
    <p>
      Uranium Resources routinely posts news and other information about the
      Company on its website at <u>www.uraniumresources.com</u>.
    </p>
    <p>
      <b>Safe Harbor Statement</b>
    </p>
    <p>
      This news 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, receiving shareholder approval of the Transaction, realizing
      the benefits of the merger and resource development synergies, the
      exploration upside of the acquired properties, the Company&#8217;s ability to
      acquire other properties, the value gained from mine site that had been
      previously permitted, the benefit of permitting on private lands, the
      effect of additional major investors with mining investment experience,
      the spot price and long-term contract 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 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 news release.
    </p>
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    <p>
      CONTACT:<br><b>Uranium Resources, Inc.</b><br>Don Ewigleben, 972.219.3330<br>President
      &amp; Chief Executive Officer<br>or<br>Media:<br>Mat Lueras, 505.269.8317<br>Vice
      President, Corporate Development<br><u>mlueras@uraniumresources.com</u><br>or<br>Investors:<br>Kei
      Advisors LLC<br>Deborah K. Pawlowski, 716.843.3908<br><u>dpawlowski@keiadvisors.com</u><br>
    </p>
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