PLATEAU URANIUM confirms commencement of Phase Two of its test-work programme defining recovery of Lithium Carbonate concentrate and Uranium yellowcake

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TORONTO, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Plateau Uranium Inc. (“” or the "") (TSX-V:PLU) (OTCQB:PLUUF) (FRANKFURT:QG1), the Lithium and Uranium development company, is pleased to announce commencement of its new metallurgical test work programme on representative samples containing Lithium at circa 500-600 ppm Li., and circa 600-6,000 ppm U3O8. The work is being undertaken to produce a high grade, low mass, Uranium Concentrate and a separate high grade, low mass magnetic concentrate, containing the majority of the Lithium contained in the mineralized material. The test work will be undertaken at the highly respected research laboratories of SGS Laboratories in Perth, and Ansto Minerals, in Sydney, Australia, both internationally accredited laboratory facilities.

The work forms part of the Company’s efforts to unlock value from the significant lithium resources contained within its uranium deposits. 

"It is expected that the results from both labs will allow us to refine our existing PEA ‘Economic Model’ with a view to highlighting the positive impact of a large tonnage Lithium by-product from our Macusani mineralization. To this end, this phase of test work will be focused on establishing more detail on the Capital and Operating cost numbers to quantify the potential value-added impact of uranium and lithium co-production.

"The higher Uranium recoveries being reported at the elevated leach temperatures are important, particularly as they build on our already impressive stand-alone Uranium PEA numbers as previously reported. Following Cameco’s decision to shut down the McArthur River uranium mine and Key Lake Mill, the supply/ demand relationship of UO is expected to be in deficit much earlier than previously predicted."

Qualified PersonsMr. Grenvill Dunn, Pr Eng (RSA), C Eng (UK), FIChE, MSAIMM, MSAIChE of Hydromet Pty Ltd, a technical consultant to the Company, is a Qualified Person as defined under National Instrument 43-101 , and has reviewed and approved the scientific and technical information contained in this release.

About Plateau UraniumPlateau Uranium Inc. is a Canadian uranium-lithium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure. Plateau Uranium is listed on the TSX Venture Exchange under the symbol 'PLU', quoted on OTCQB under the symbol 'PLUUF' and on the Frankfurt Exchange under the symbol 'QG1'. The Company has 64,227,151 shares outstanding.

Forward Looking InformationThis news release includes certain forward-looking statements concerning possible expected results of exploration and future exploration activities. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which we operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the certainty of title to our properties; risks related to the uncertain global economic environment; and other risks and uncertainties related to our prospects, properties and business strategy, as described in more detail in Plateau Uranium’s recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and Plateau Uranium cautions against placing undue reliance thereon. Neither Plateau Uranium nor its management assume any obligation to revise or update these forward-looking statements.

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Globe Newswire: 15:17 GMT Tuesday 14th November 2017

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