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Gold/Mining/Energy : Uranium Stocks

URNM 58.14

-0.8%

Dec 8 4:00 PM EST

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From: - with a K	11/18/2006 5:01:19 PM
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UUU.V UrAsia Energy increases inferred mineral resource base at South Inkai by 69% Thursday November 16, 9:30 am ET Trading Symbol (TSXV: UUU and AIM: UUU) VANCOUVER, Nov. 16 /CNW/ - UrAsia Energy Ltd. (the "Company" or "UrAsia") is pleased to announce that it has increased its inferred mineral resource at the South Inkai uranium project in the Republic of Kazakhstan by 69%. This is a result of a recently completed audit of newly certified resources on the South Inkai project. The Company has a 70% interest in the Betpak Dala Joint Venture, which has a 100% interest in the South Inkai uranium project "South Inkai" and the Akdala uranium mine "Akdala." The original mineral resource estimate for South Inkai, Section 4, as estimated by Roscoe Postle Associates Inc. (now known as Scott Wilson RPA) and included in their Technical Report prepared in accordance with NI43-101 dated October 8, 2005 and revised March 20, 2006 contained a table of mineral resources as of March 2005. The recent increase in the inferred mineral resource at South Inkai from 25.6 million pounds U(3)O(8) to 43.5 million pounds U(3)O(8) is the result of certification of mineral resources from an area within the South Inkai project that was drilled during the period 1991 to 1993. Scott Wilson RPA, engaged to complete the audit of the newly certified resources, confirmed that the drill holes included in the 'new' resource blocks are shown on sections received from the Republic of Kazakhstan in 2005, but were not included in the resources audited by Roscoe Postle Associates Inc. at the time - as they had not been certified by the State Commission on Mineral Reserves of the Republic of Kazakhstan.... biz.yahoo.com

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