Ur-Energy completes Phase 1 field tests of patented well tech: 75% rig time reduction, 85% casing cost cut

UR-ENERGY INC

Phase 1 field tests at Lost Creek ISR Facility show injection wells with new tech cut drill rig time by 75% and casing cost by 85%.
Overall cost reduction to install an injection well is estimated at $2.50-$3.50 per pound of U3O8 produced, up to 49% savings.
Environmental benefits include 85% fewer air emissions, reduced heavy vehicle traffic, and less noise from shortened rig time.
Phase 2 testing will focus on well development methods and flow rates; company plans to license technology to other industries.
Company expects to file report with Wyoming DEQ for final permitting; hydrologic modeling to optimize well pattern geometry.

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