PowerTech CEO Expects to Mine Uranium in South Dakota by 2009
TVA drilled over 4,000 holes in the 1970s, defining over 8 million pounds of in place uranium. An underground mining feasibility study determined TVA could produce over 5 million pounds through conventional mining. Now, PowerTech has the property and hopes to bring it into production in less than 36 months.

February 13, 2007
Powertech Uranium
featuring Chief Executive Richard Clement
highlights from audio appear below






Questions:
1. Mr. Clement, can you give us a brief overview of the Dewey Burdock project in South Dakota? Your website says it was discovered in 1952, and that the Tennessee Valley Authority once planned to make this an underground mine.

The key properties that are currently well outlined and well drilled out and the ones that we are permitting for production are our Dewey Burdock project in South Dakota and of course our Centennial project also which is in Northeastern Colorado.   At Dewey Burdock we plan to aggressively pursue permitting and development in order to bring the deposit on stream in the shortest timeframe possible. Our plan is to produce the deposits through the in-situ recovery process (ISR). The buying station was replaced by a mill in 1956 and companies delivered over 3.5 million pounds to the Edgemont mill for processing until 1966. In the early seventies, the Tennessee Valley Authority purchased the Edgemont mill along with the exploration acreage from Susquehanna Western which owned the mill at that time and they began then extensive exploration activities.  During this program, TVA discovered the Dewey Burdock deposit and drilled over 4000 test holes to determine the extent of the ore trends. From this program, TVA defined over 8 million pounds of in place uranium.  Their efforts resulted in an underground mining feasibility study, which you referred to before.  This study determined that TVA could produce over 5 million pounds through conventional mining for processing in the Edgemont mill.

2. What exploration or development plans to have on the Dewey Burdock project, and what actions are you taking right now to move this project forward?

Our plan is to produce the deposits through the insitu recovery process (ISR).  The quality of the resources is fairly high grade relative to other US deposits. The average grade of Dewey-Burdock is 0.21% U3O8, which is really 4 lbs per ton of ore.  Following the acquisition of this permit we plan to run several pump tests to determine flow characteristics of the host sands and cut several cores to conduct core leach and restoration studies as a precursor to the preparation of environmental applications for mining permits.   We expect that production will occur during the latter half of 2009.

3.While the TVA planned to make this an underground mine, PowerTech wants to use the ISR mining method. Why are you going to solution mine this property instead of using conventional mining methods, when do expect this property will be producing, and how much annual production do you anticipate?

4. We noticed that the big name on your company’s roster is Wallace Mays, one of the ISR legends. How much of a role will Mr. Mays play in developing your properties and bringing them to production?

Wallace is well known as an ISR expert and uranium producer over the years. He was one of the first people inducted into the Uranium Hall of Fame. With his strong background, with several deposits that he has developed, including some of the earliest deposits in south Texas and the first deposit for ISR to be developed in Wyoming ... his background and strengths will give us assistance in final development of the area. We feel that we’re fully capable, through all of the aspects of uranium development from exploration through permitting through development and going into production.

5. PowerTech also has the Centennial Project in Colorado. What are your plans with that property, and where does this one fit into the sequence for production?

Centennial is another great project that the company has acquired.  Union Pacific Railroad’s exploration arm, that was Rocky Mountain Energy, during the 1970’s, discovered the Centennial deposits.  RME drilled over 4000 exploratory holes on the mineral lands that were from the old original railroad company.  Through the extensive drilling of RME, they discovered over 9.6 million pounds now classified as historical resources.

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