Plateau Uranium Reports 60% Upgrade Factor Based on Selective Comminution Test Work on its Macusani Uranium Mineralization

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2016) - Plateau Uranium Inc. ("Plateau Uranium" or the "Company") (TSX VENTURE:PLU)(FRANKFURT:QG1) is pleased to announce previously unreleased metallurgical test work results from the Macusani Plateau Uranium Project in Peru. The work was completed by Cameco Research Centre personnel in Ontario as part of their previous investigation into processing options available for the treatment of the Macusani uranium mineralization. Data and reports were acquired as part of the acquisition of the projects previously worked by Cameco, and are owned by the Company. The Company is also pleased to announce the commencement of another phase of testwork expanding this comminution work to its other uranium deposit resource areas, and examine if similar factors may apply to the lithium and potassium present in the same material.

The Company also announces the award of shares and stock options to management, directors, employees and consultants.

Highlights

• Scrubbing work was undertaken previously by Cameco on Macusani uranium mineralization to explore the option to increase the uranium grade through selective comminution and rejection of a barren or waste grade material
• Tests were limited to 1/2 inch crush products on samples from Tantamaco and Isivilla uranium deposits
• Samples were prepared to represent two feed grades with ranges of 260-570 ppm and 580-800 ppm U₃O₈, which are in the typical ranges of the Macusani uranium deposits
• The tests identify an opportunity to reject 50-60% of the process feed mass in a coarse (+2mm) low grade fraction while 80-85% of the contained uranium was recoverd to the fines fraction (-2mm)
• Plateau Uranium has now commissioned Hydromet Pty Limited, which has reviewed the Cameco reports and will investigate repeating this test work on a larger sample set from the Company's other, previously untested uranium deposits areas, in particular, the Chilcuno Chico and Colibri II-III deposits
• 60% upgrade factor based on example 80% uranium reporting to the fines fraction within only 50% of the original feed mass, which represents an equivalent increase in U₃O₈ grade of 60%

Ted O'Connor, CEO of Plateau Uranium commented: