Uranium Resources Plc Regulatory News (URA)

Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration

2 April 2012

Uranium Resources plc ('Uranium Resources' or 'the Company')

Update on Exploration Programme at Mtonya Uranium Project Tanzania

Uranium Resources plc, the AIM listed uranium exploration company is pleased to provide an update on its ongoing drilling programme at its 100%-owned Mtonya project in southwest Tanzania.

The 2012 exploration programme has been designed on the basis of a significantly enhanced redox interface model. The new drill data are continuously assessed and integrated into the model to improve the accuracy of drill targeting.

To date, four diamond drillholes have been completed to a total of 1,360 m. Two drillholes reported significant intercepts as follows:

Only intercepts above 100 Grade Thickness are shown. Grade thickness (GT) is the product of the grade and true thickness of intercepted mineralisation.

An important outcome from the drilling of the last 4 holes is that all of them encountered uranium mineralisation, with 3 holes intersecting grades over the 100ppm eU3O8. All four holes intercepted stacked uranium channels. These four holes are set in a fence-like pattern, 50-150 m apart. All drillholes at Mtonya are vertical. Holes DH 187 and DH 189 intercepted a previously unknown mineralized feature below at depths over 300 m.

Uranium Resources Managing Director Alex Gostevskikh said, "These initial drillholes from our 2012 programme continue to confirm the presence of stacked roll-fronts at depth. All four holes intercepted strata with elevated uranium values both near surface and at depth. They take us one step further in defining the geometry of the Mtonya roll-fronts and mark a great beginning of the 2012 programme."

About Mtonya

The company's 100%-owned Mtonya project is situated about 60 km south of Nyota, a significant uranium deposit currently developed by Uranium One.

Mtonya is interpreted to be a classic sandstone-hosted roll-front deposit with remarkable similarities to the deposits of Chu-Sarysu, Kazakhstan and Wyoming, USA.

To date, Mtonya has demonstrated continuous uranium mineralisation in stacked roll-fronts in Triassic arkoses, which is expected to be amenable to in-situ recovery.

The Company's ongoing exploration programme is expected to generate sufficient data to delineate a maiden resource at Mtonya.

Assaying and QA/QC

The Company is using a Mount Sopris' Matrix gamma-logging system to ensure proper instrument calibration and establish the framework for disequilibrium adjustments. The disequilibrium factor (DEF) is used to adjust the grade obtained from measurements by a gamma-ray probe (eU3O8) and to provide rapid estimates for the uranium content in the rock.

In addition to gamma-ray downhole surveys, Uranium Resources plc uses the most reliable methods of quantifying uranium mineralisation by sampling half-core and subjecting the samples to the ME-MS41 and ME-ICP61 analytical methods at the ALS laboratory in Vancouver, BC, Canada.

In accordance with industry standards, the assayed samples include certified standards and duplicates. Analytical results are routinely subjected to statistical review.

Competent Person's Declaration

The information in this statement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information reviewed by Alex Gostevskikh, Managing Director of Uranium Resources plc, who is a Member of the Mining and Metallurgical Society of America. Mr. Gostevskikh has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Gostevskikh consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

**ENDS**

For further information please visit www.uraniumresources.co.uk or contact:

About Uranium Resources

Uranium Resources plc is an AIM listed exploration and development company. It is the Company's strategy to advance its existing assets and strengthen its portfolio via opportunistic acquisition. Uranium Resources has uranium licences in the highly prospective Karoo Basins in Southern Tanzania.