Town of Chatham, VA
Comment: By DL: It seems Virginia Energy Resources, Inc. is so pleased to announce that only half of the study is going to be done. The half they paid for! What about the Socio-Economic part of the study which they have stated they will not pay for? The citizens of the Commonwealth of Virginia deserve to have both parts of the study not just a part that would only benefit profit making for an individual company partly owned by a Canadian Corporation. We need to demand and take into consideration ALL studies be done!
Feb. 26, 2010, 2:30 p.m. EST
VANCOUVER, BRITISH COLUMBIA, Feb 26, 2010 (MARKETWIRE via COMTEX) -- Virginia Energy Resources Inc. is pleased to learn that the National Academy of Sciences (NAS) has signed a contract with Virginia Tech to conduct a study on uranium mining.
The purpose is to determine whether uranium mining and milling could be undertaken in a manner that safeguards the environment and public health in the Commonwealth of Virginia. The Company looks forward to the conclusions of the forthcoming independent scientific study regarding the safety of mining at the Coles Hill site.
Virginia Energy will own an approximate 28% indirect equity interest in the Coles Hill uranium deposit in southern Virginia after funding the 2010 operating budget for the project. Coles Hill is considered to be one of the largest undeveloped uranium deposits in the United States.
Virginia Energy Resources Inc. President and CEO, Norm Reynolds, commented on the study's significance, saying, "We welcome the opportunity to have preeminent scientists provide independent and credible information about the development of a uranium mining and milling industry in Virginia. We expect that this study by the National Academy of Sciences will serve as part of the foundation of work which will provide Virginia with enough information to confidently bring uranium mining legislation and permitting framework into being."
On Behalf of the Board of Directors
VIRGINIA ENERGY RESOURCES INC.
Norman Reynolds, President & CEO