News Releases


National Academy of Sciences Study on Uranium Mining to be released Monday, December 19, 2011

Dec 16, 2011      |
NR 11-14

Virginia Energy Resources Inc. (TSX.V: VAE) (OTCQX: VAERF) is pleased to announce that the National Academy of Sciences (NAS) study examining the potential impacts of uranium mining in Virginia will be released on Monday, December 19th at 1:30pm.

The primary purpose of the study is to assist the Commonwealth of Virginia in determining whether uranium mining and milling could be undertaken in a manner that protects the environment and the health of its citizens. The NAS committee that wrote the report assessed the physical and social context in which uranium mining and processing might occur; domestic and global uranium markets; technical options and best practices for the industry; and potential impacts on public health, worker safety, and the environment. It also reviewed the state and federal regulatory framework for uranium mining.

President and CEO, Walter Coles Jr., commented on the study's significance saying, "We have always welcomed the opportunity for independent scientists to provide credible information about the development of a uranium industry in Virginia. We expect that this study by the National Academy of Sciences will serve as part of the foundation of work which will provide Virginia with sufficient information to confidently bring uranium mining legislation and permitting framework into being."

About Virginia Energy Resources Inc.

Virginia Energy Resources Inc. is a uranium development and exploration company that holds a 29% stake in the advanced stage Coles Hill uranium project in Virginia. The Company is also pursuing active exploration programs in the Athabasca Basin of Saskatchewan and in the Otish Basin of Quebec. Virginia Energy Resources Inc. trades on the TSX Venture Exchange under the symbol VAE and on the OTCQX under the symbol VAERF.

On Behalf of the Board of Directors

Walter Coles Jr., President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


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