Cancellation of the Arrangement Between Ur-Energy Inc. and Patrician Diamonds Inc. on the Dismal Lake Property, NU

From: CCNMatthews Newswire | Date: February 24, 2006 | Copyright information

DENVER, COLORADO--(CCNMatthews - Feb. 24, 2006) - Ur-Energy Inc. ("Ur-Energy") (TSX:URE) announced today that by mutual consent Ur- Energy Inc. and Patrician Diamonds Inc. (TSX VENTURE:PXC) ("Patrician") have agreed to terminate the arrangements set forth in letter agreement between the parties (the "Letter") and to unwind the transactions originally contemplated by the letter agreement regarding the Dismal Lake property in Nunavut that is held by Patrician Diamonds Inc. As a result of the unwinding of the transaction, Patrician will refund to Ur-Energy the CDN $50,000 payment and return the ...

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