Westwater Resources Comments on the Recently Completed Section 232 Investigation of Uranium Imports

CENTENNIAL, Colo.–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24WWR&src=ctag" target="_blank"gt;$WWRlt;/agt; lt;a href="https://twitter.com/hashtag/Section232?src=hash" target="_blank"gt;#Section232lt;/agt;–Westwater Resources, Inc. (Nasdaq: WWR), an energy metals
exploration and development company, commented on the recently completed
Section 232 Investigation of Uranium Imports. President Trump now has up
to 90 days from April 14 to decide whether to act on the matter, which
can include quotas or tariffs, a timeline which concludes in mid-July.

The U.S. Department of Commerce initiated a Section 232 investigation in
July 2018 to determine whether the present quantity of uranium ore and
product imports threaten to impair U.S. national security. U.S. uranium
production has declined significantly since 1987, with domestic uranium
producers experiencing a major slowdown in operations and employment.

Christopher M. Jones, President and Chief Executive Officer, commented,
“We believe that, regardless of the decision that will be made by the
President, U.S. producers will benefit in the near term. The U.S.
utility companies are expected to come back to the market and stock-up
on fuel supplies even if the President decides to deny the petition. In
the event that the decision is in favor of the Section 232 action, U.S.
producers will see greater demand for domestically produced uranium.
Either way, we expect the price of uranium produced in the United States
to rise.

“The U.S. relies heavily on nuclear power for carbon free base load
power. According to UxC, more than 20% of all uranium produced in the
world is consumed in the U.S. Nuclear power represents the only
electrical base load solution for global electric power growth driven by
economic expansion and a focus on carbon reduction.

“Uranium remains a key strategic focus for Westwater. Westwater
Resources controls extensive mineral holdings in New Mexico and Texas.
In addition, WWR owns the Rosita and Kingsville Dome processing
facilities in Texas, both of which are licensed for production,”
concluded Mr. Jones.

About Westwater Resources

WWR is focused on developing energy-related materials. The Company’s
battery-materials projects include the Coosa Graphite Project — the most
advanced natural flake graphite project in the contiguous United States
— and the associated Coosa Graphite Mine located across 41,900 acres
(~17,000 hectares) in east-central Alabama. In addition, the Company
maintains lithium mineral properties in three prospective lithium brine
basins in Nevada and Utah. Westwater’s uranium projects are located in
Texas and New Mexico. In Texas, the Company has two licensed and
currently idled uranium processing facilities and approximately 11,000
acres (~4,400 hectares) of prospective in-situ recovery uranium
projects. In New Mexico, the Company controls mineral rights
encompassing approximately 188,700 acres (~76,000 hectares) in the
prolific Grants Mineral Belt, which is one of the largest concentrations
of sandstone-hosted uranium deposits in the world. Incorporated in 1977
as Uranium Resources, Inc., Westwater also owns an extensive uranium
information database of historic drill hole logs, assay certificates,
maps and technical reports for the western United States. For more
information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,” “estimates,” “projects,”
“anticipates,” “believes,” “could,” and other similar words. All
statements addressing events or developments that WWR expects or
anticipates will occur in the future, including but not limited to
statements relating to the future price of and demand for uranium, and
the President’s actions in response to the Section 232 investigation,
are forward-looking statements. Because they are forward-looking, they
should be evaluated in light of important risk factors and
uncertainties. These risk factors and uncertainties include, but are not
limited to, (a) the Company’s ability to successfully integrate Alabama
Graphite Corporation’s business into its own, and the risk that
additional analysis of the Coosa Graphite Project may result in
revisions to the findings of WWR’s initial optimization study; (b) the
Company’s ability to raise additional capital in the future; (c) spot
price and long-term contract price of graphite, lithium, vanadium and
uranium; (d) risks associated with our domestic operations; (e)
operating conditions at the Company’s projects; (f) government and
tribal regulation of the graphite industry, the lithium industry, the
vanadium industry, the uranium industry, and the power industry; (g)
world-wide graphite, lithium, vanadium and uranium supply and demand,
including the supply and demand for lithium-based batteries; (h)
maintaining sufficient financial assurance in the form of sufficiently
collateralized surety instruments; (i) unanticipated geological,
processing, regulatory and legal or other problems the Company may
encounter in the jurisdictions where the Company operates or intends to
operate, including in Alabama, Texas, New Mexico, Utah, and Nevada; (j)
the ability of the Company to enter into and successfully close
acquisitions or other material transactions; (k) the results of the
Company’s lithium brine exploration activities at the Columbus Basin,
Railroad Valley, and Sal Rica projects, and the possibility that future
exploration results may be materially less promising than initial
exploration result; (l) any graphite, lithium, vanadium or uranium
discoveries not being in high-enough concentration to make it economic
to extract the metals; (m) currently pending or new litigation or
arbitration; and (n) other factors which are more fully described in the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
and other filings with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize or should any of
the Company’s underlying assumptions prove incorrect, actual results may
vary materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company’s forward-looking
statements. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of the
forward-looking statements contained in this news release. The results
of the initial optimization study are preliminary in nature and subject
to revision following WWR’s further analysis of the Coosa Graphite


Westwater Resources Contact:
Christopher M. Jones, President
Phone: 303.531.0480

Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Investor Relations Contact:
Michael Porter
LeVay and Rose
Phone: 212.564.4700
Email: Westwater@plrinvest.com

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