Westwater Resources Announces Second Quarter 2020 Results & Business Update

Westwater Resources, Inc. (Nasdaq: WWR), an energy materials development company, today announced its results for the second quarter of 2020 and provided an update on its materials development business.

Christopher M. Jones, President and Chief Executive Officer, said, “In the first half of the year, the COVID-19 pandemic has not materially impacted our business activities. Even though we closed our offices, the remote use system already in place enabled our team to remain productive and to make great strides as we continued to execute our 2020 strategy. We remain focused on the health and safety of all Westwater Resources employees, on maintaining highest safety standards in all of our operations and on ensuring the safety of the communities where we live and work. To this end, we have eliminated unnecessary travel and instituted health protocols at all job sites. We also continue to make sure our team members can take time off without penalty due to illness or to care for those around them who have fallen ill. Thanks to our diligence and concern, and to the enthusiasm and industriousness of our team, we are efficiently conducting our business.”

Some of the key milestones from the second quarter of 2020 and through the date of this press release include:

• On July 9, 2020, the company announced that independent performance testing of its ULTRA-CSPG (Coated Spherical Purified Graphite ("CSPG”)) material produced in a laboratory setting shows that it performs as well or better than benchmark commercially available natural flake and synthetic materials. ULTRA-CSPG is Westwater’s anode material utilized in lithium ion batteries in the fast-growing electric vehicle market.

• As of June 30, 2020, the Westwater Resources relationship with Dorfner Anzaplan continues without pause to produce results that inform the design of Westwater’s pilot plant operation. The pilot plant is scheduled to operate during the 4^th quarter of 2020. Westwater is now undertaking the final design of the pilot plant, as well as the purchase and installation of all necessary equipment.

• On June 2, 2020, Westwater announced that independent testing of its ULTRA-PMG (Purified Micronized Graphite (“PMG”)) battery graphite material has shown outstanding resistivity values as a conductive additive.

• The Company continues its restoration and reclamation activities on its South Texas uranium properties.

• During the quarter the Company secured a PPP loan for its subsidiary, URI, Inc. Since the loan was executed, the Company has met all requirements for forgiveness of the loan as outlined in the Small Business Administration Guidelines, and a process has begun for extinguishment of the note.

• On April 28, 2020, in the ICSID arbitration proceeding for the Company’s challenge that the Republic of Turkey unlawfully revoked licenses for the Temrezli and Sefaatli uranium projects, the arbitral tribunal denied Turkey’s bifurcation request, which would have materially extended the potential timeline for the completion of the arbitration proceeding. On June 3, 2020, the arbitral tribunal ruled that Turkey must file its Counter-Memorial on or before September 14, 2020. The hearing on substantive issues and damages is still scheduled for September 13-17, 2021.

“We are delighted with the progress we have made during an immensely difficult quarter for just about every business worldwide,” Mr. Jones added. “Our goal now is to continue at this pace through year-end. We are inspired by the performance of our battery materials, and we are on target to have our pilot plant, in collaboration with Dorfner Anzaplan, operational by year-end. Notwithstanding COVID-19 and other challenges, 2020 is shaping up to be a solid year for Westwater Resources.”