Dewey Burdock Progresses Towards Final EPA Permits

VANCOUVER, August 28, 2019 - Azarga Uranium Corp. (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) (“Azarga Uranium” or the “Company”) has received notice that the United States Environmental Protection Agency (the “EPA”) has issued revised draft permits for the Company’s Dewey Burdock In-Situ Recovery Uranium Project (the “Dewey Burdock Project”). The revised draft permits incorporate comments submitted to the EPA on the original draft permits, including comments submitted by the Company. The revised draft EPA permits pertain to the Company’s planned Class III and Class V Underground Injection Control (“UIC”) activities.

Blake Steele, President and CEO, stated: “We are pleased that the revised draft EPA permits for the Company’s flagship Dewey Burdock Project address the majority of the comments submitted by the Company. This is a significant step towards the issuance of the final EPA permits and continues to advance the Dewey Burdock Project towards development. The Company remains focused on working with the EPA to obtain the final permits in the near-term.

In parallel with advancing our permitting initiatives, we expect to publish the results of an updated preliminary economic assessment in the fall of 2019 for the Dewey Burdock Project.”

The Class III and Class V UIC EPA permits represent one of the three major regulatory agency approvals required for the Dewey Burdock Project. The Company already holds a Source and Byproduct Materials License from the United States Nuclear Regulatory Commission (the “NRC”), which is another of the three major regulatory agency approvals required for the Dewey Burdock Project. As noted in the Company’s 1 May 2019 news release, the Company has the opportunity to resolve the only remaining NRC License contention in the fourth quarter of 2019.

With respect to the third major regulatory agency, the South Dakota Department of Environment and Natural Resources staff has recommended approval of the major state permits. The hearings to finalize the state permitting process have been deferred until the federal permits, namely those pertaining to the NRC and EPA, are issued.

According to the EPA’s public notice, the draft permits will be made available for public review and comment until 10 October 2019.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls eleven uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado) and the Kyrgyz Republic, with a primary focus of developing in-situ recovery uranium projects in the USA. The Dewey Burdock in-situ recovery uranium project in South Dakota (the “Dewey Burdock Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission License and draft 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 major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.

For more information please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

For further information, please contact:

Blake Steele, President and CEO
+1 303 790-7528
E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the issuance of the revised draft EPA permits being a significant step towards the issuance of the final EPA permits and continues to advance the Dewey Burdock Project towards development, the Company remaining focused on working with the EPA to obtain the final permits in the near-term, the Company having the opportunity to resolve the only remaining NRC License contention in the fourth quarter of 2019, the Company expecting to publish the results of an updated preliminary economic assessment in the fall of 2019 for the Dewey Burdock Project and Azarga Uranium’s continued efforts to obtain all major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the issuance of the revised draft EPA permits is not a significant step towards the issuance of the final EPA permits and does not advance the Dewey Burdock Project towards development, the risk that the Company does not obtain the final EPA permits in the near-term, the risk that the Company does not resolve the only remaining NRC License contention in the fourth quarter of 2019, the risk that the Company does not publish the results of an updated preliminary economic assessment in the fall of 2019 for the Dewey Burdock Project, the risk that Azarga Uranium does not obtain all major regulatory permit approvals necessary for construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.

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.