CASPER STAR TRIBUNE

July 14, 1996

Denver company sets up uranium project in Wyo

DENVER (AP)�Hoping to capitalize on the rising price of uranium, Aspen Exploration plans to launch a project in Wyoming's Powder River Basin, company officials said Friday.

Aspen Exploration managers said the area in northeast Wyoming may contain several million pounds of uranium, which recently has become more valuable because of a renewed interest in raw material resources for uranium.

Uranium concentrates currently are selling for $16.60 a pound, nearly 40 percent more than six months ago when it was worth $12 per pound.

Denver-based Aspen Exploration will hold the majority interest in the project, but said it is looking for a partner.

Aspen is a publicly owned company with interests in oil and gas, precious metals and uranium.

In 1977, its president R.V. Bailey co-authored a 642-page textbook called, "Applied Mineral Exploration With Special Reference to Uranium."