TORONTO, ONTARIO--(Marketwire - June 7, 2012) - NWT Uranium Corp. (TSX VENTURE:NWT)(FRANKFURT:NMV) ("NWT" or the "Company") would like to announce that today URU Metals ("URU Metals" or "URU") released an update regarding its South African Nickel Joint Venture. NWT Uranium owns 43.94% of the common shares of URU Metals. According to URU, it received a positive NI 43-101 compliant Preliminary Economic Assessment of the Zebediela Project. Some of the highlights from the press release include the following:
• The Preliminary Economic Assessment (PEA) of the Zebediela Project projects a pre-tax and preroyalty net present value of $1,018 million, an internal rate of return of 25.7% and a 3.8 year payback period at an 8% discount rate.
• Indicated resources stand at 485.4 million tonnes at a grade of 0.245% Ni with additional inferred resources of 1,115.1 million tonnes at a grade of 0.248% Ni.
• Using indicated resources only, a proposed open-pit mine is envisioned with a 25 year mine life producing 56,600,000 lbs of recoverable nickel per annum.
• The project is projected to a lowest-quartile cost nickel producer.
• Substantial opportunities are available to the South African Nickel Joint Venture (SAN JV) to increase the project value through resource accretion and the addition of a magnetite concentrate revenue stream.
The full detailed press release by URU Metals, dated 7th June 2012, can be found at the following page:
Contact Information:
(416) 504-3978
www.nwturanium.com