Azarga Uranium Files Final Prospectus and Amended And Restated Pea for Dewey Burdock Project

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VANCOUVER, BC / ACCESSWIRE / December 24, 2020 / AZARGA URANIUM CORP. (TSX:AZZ) (OTCQB:AZZUF) (FRA:P8AA) ("Azarga Uranium" or the "Company") is pleased to announce that it has filed a final short form prospectus in respect of its previously announced offering of units of the Company for gross proceeds to the Company of C$6,000,000 (the "Final Prospectus").

In connection with the filing of the Final Prospectus, the Company filed an amended and restated technical report (the "Amended Report") for the Dewey Burdock in-situ recovery ("ISR") uranium project in South Dakota (the "Dewey Burdock Project"). The Amended Report amends and restates the previous technical report in respect of the Dewey Burdock Project (dated January 17, 2020, with an effective date of December 3, 2019 and filed by the Company on SEDAR on January 17, 2020) (the "Prior Report) to make certain amendments to the Prior Report, including to remove the non-ISR resource estimate from the mineral resource estimate included in the Prior Report.

The Amended Report was prepared by Steve Cutler, P.G., and Matthew Yovich, P.E., each a qualified person as defined under National Instrument 43-101. The Amended Report, titled "Amended and Restated NI 43-101 Technical Report, Preliminary Economic Assessment, Dewey-Burdock Uranium ISR Project, South Dakota, USA" has been filed on SEDAR and Azarga Uranium's website.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and final Class III and Class V Underground Injection Control ("UIC") permits from the Environmental Protection Agency (the "EPA") and the Company is in the process of completing other regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

For more information please visit www.azargauranium.com

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For further information, please contact:

Blake Steele, President and CEO
+1 303 790-7528
E-mail: [email protected]

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

SOURCE: Azarga Uranium Corp.