President's Message - March 5th, 2009
To Our Shareholders.
It has been almost a year since I last wrote to you. This letter provides an update regarding the Company's recent accomplishments and business objectives going forward. Projects: I am delighted with the progress made in our Pinetree-Reno Creek Joint Venture with Strathmore Minerals. This JV provides for American Uranium to earn a 60% interest in two advanced stage uranium projects in Wyoming's Powder River Basin upon completion of our payment obligations.
Reno Creek Deposit:
The major accomplishment of the past year was to begin environmental baseline studies and other activities related to applying for the State and Federal permits and licenses needed to develop and operate the Reno Creek In-Situ Recovery (ISR) uranium deposit. As previously reported, Reno Creek is considered one of the best advanced uranium projects in the United States, and is located between Cameco's Smith Ranch and Areva's Christensen Ranch ISR Projects. Critical infrastructure and support for the area is therefore already in place. Permitting activities will continue in 2009-the most important activity being the drilling of at least 18 hydrologic test wells for which we already have obtained the WY DEQ Drill Permit. We plan to submit high quality applications to WY DEQ and US NRC in early 2010 and hope to begin production in 2012-13.
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New Symbol : AUUM is now ACUC
You can now find American Uranium trading on the OTC Bulletin Board under the symbol ACUC.
Eye on America - The Importance of Nuclear Energy Rising Starts in Uranium Exploration
Filmed on location at Cameco's Smith Ranch-Highland facility, in Powder River Basin, this feature includes an exclusive interview with President and CEO, Dr. Robert Rich. The segment addresses the safety and efficiency of nuclear energy, the benefits of In-Situ Recovery mining process, as well as the history and potential of the property.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this web site, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in our Form XXX. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml
