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Powertech Receives Second Draft Uranium Recovery License From NRC

Powertech Uranium Corp (PWE.TO) today announced that, through its subsidiary Powertech ( USA ) Inc., the company has received its second draft uranium recovery license for the Dewey-Burdock Project from the U.S. Nuclear Regulatory Commission ( NRC ).

On July 31, 2012, the NRC issued the first draft license for the project. Powertech provided comments on the first draft license and also provided a supplemental sampling plan by letter dated October 19, 2012. Based on the staff's continued review and Powertech's comments the staff is issuing the second draft license.

As was the case with the first draft license, this second draft license is preliminary in nature and will facilitate continuing discussions necessary to finalize the Safety Environmental Report (SER) and Supplemental Environmental Impact Statement (SEIS), the company said in a statement.

The second draft license brings Powertech that much closer to receiving its final uranium recovery license to develop the Dewey-Burdock Project. The NRC has given Powertech 30 days in which to comment on the second draft. With those comments, the NRC anticipates that the SER will be finalized in March 2013 and will be available for review at that time.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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