BLR 0.00% 0.2¢ black range minerals limited

This Is End Game. Azarga are Agreeing In Principle.

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    GREENWOOD VILLAGE, COLORADO, Jan 30, 2015 (Marketwired via COMTEX) -- AZARGA URANIUM CORP. (AZZ)(otc pinkWURD)(frankfurt8AA) ("Azarga" or the "Company") notes that one of its investee companies, Black Range Minerals Limited ("Black Range"), has today received a takeover proposal from Western Uranium Corporation ("Western Uranium").
    Black Range is listed on the Australian Stock Exchange under the ticker BLR. Its primary assets are the Hansen/Taylor Ranch uranium project in Colorado and a 50% interest in a uranium ore processing technology venture, Ablation Technologies. With a current interest of 17.3%, Azarga is Black Range's largest shareholder.
    Based on the terms in Black Range's press release, the takeover proposal would value Azarga's shareholding in Black Range at approximately US$2.4 million. Azarga also has a loan extended to Black Range in the amount of approximately US$0.5 million (the "Azarga Loan"). As part of the proposed takeover, Western Uranium is providing Black Range with a loan facility, a portion of which will be used on closing to pay back half of the Azarga Loan.
    Azarga recognizes the potential benefits of a combination between Black Range and Western Uranium and is broadly supportive of the proposal. As a result, the Company will engage with both Western Uranium and Black Range to understand the terms of the proposal in more detail.
    About Azarga Uranium Corp.
    Azarga Uranium is a mineral development company that owns six uranium projects, deposits and prospects in the USA (South Dakota, Wyoming and Colorado) and Kyrgyzstan together with investment holdings in Anatolia Energy Limited (asx:AEK - 11%) and Black Range Minerals Limited (asx:BLR - 17%). The Dewey Burdock Project in South Dakota is the main initial development priority, which has received its final NRC License.
    For more information please visit
    Follow us on Twitter at @AzargaUranium.
    Richard F. Clement Jr.,
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