Uranium Resources (URI) has been granted an exploration permit to explore uranium for the Los Finados project in Texas, US.

The company received the one year permit from Surface Mining and Reclamation Division of the Railroad Commission of Texas.

In addition, the company entered into a joint venture agreement with Cameco Texas, subsidiary of Power Resources, which is a subsidiary of Cameco for a three-phase, three-year exploration program.

The permit area, covers an area of approximately 54,847 acres located in Kenedy County,Texas.

The joint venture partners plan to finalize the exploration objectives and commence the drilling this year.