Loan Agreement

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

20 March 2015

Uranium Resources plc

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

Loan Agreement

Uranium Resources plc, the AIM-listed uranium exploration and development company focused on developing its Mtonya asset in Tanzania, is pleased to announce that it has entered into a further US$200,000 loan facility agreement (the 'Loan') with its major shareholder and strategic investor Estes Limited ('Estes'). The Loan, which is unsecured, is available for the period to 1 January 2016 and bears interest at LIBOR, will be used to fund working capital requirements.

The Loan is in addition to the US$1 million facility previously entered into and announced on 26 March 2013 and the US$300,000 loan facility which was entered into and announced on 24 March 2014. The 2013 facility has been fully drawn down and the 2014 loan facility was drawn to US$290,000. Estes currently has no intention of seeking the repayment of the previous loan facilities.

The Company's Managing Director, Alex Gostevskikh, said, "The board remains optimistic about the potential of its Mtonya uranium deposit despite the depressed uranium market and we are encouraged by the continued support from our strategic investor Estes. With a maiden resource based on less than 10% of the prospective ground on the Mtonya illustrating significant upside potential, and proof-of-concept mineralogy studies completed, we believe we have a regional mineralised roll-front feature that can be developed through in-situ recovery, the most cost-effective and environmentally acceptable method of uranium extraction. These funds will be conservatively used for the Company's operating and tenure expenditures as we examine our strategic options to advance Mtonya."

As a substantial shareholder, Estes is a related party of the Company and receipt of the Loan constitutes a related party transaction as defined by Rule 13 of the AIM Rules for Companies. The independent directors (being Alex Gostevskikh, Andrew Lewis, James Pratt, and Mark Purits), having consulted with Northland Capital Partners Limited, the Company's nominated adviser, consider that the terms of the Loan are fair and reasonable in so far as the Company's shareholders are concerned.

About Uranium Resources

Uranium Resources plc is an AIM listed exploration and development company which is focusing on its Mtonya flagship project which has a maiden inferred resource of 3.6 Mt ore containing 2 Mlb U3O8 grading 255 ppm U3O8. The resource is expected to be amenable to in-situ recovery, the most cost-effective and environmentally acceptable method of uranium extraction. The Company's strategy comprises advancing its existing assets and strengthening its portfolio via opportunistic acquisition. Uranium Resources has uranium licences in the highly prospective Karoo basins in southern Tanzania. 

**ENDS**

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