The estimate says that the property contains 1,007,830 lbs of measured and indicated resources U3O8 and 6,047,000 lbs V2O5.
The property also has the potential to host more than 3,000,000 lbs of uranium-vanadium resources with suitable characteristics for underground mining.
The SMC property features about 233 contiguous unpatented mining claims that covers 1,517ha situated within the southern third of the Uravan mineral belt.
Production form the SMC property is planned to start in 2016. Historic production is expected to be in the range of 1,870,000 pounds to 5,000,000 pounds of uranium depending on the source or sources.
Western Uranium president and CEO George Glasier said: "We are pleased to have completed the initial Technical Report on our Sunday Mine Complex in accordance with NI 43-101 standards, which adds over 1 million pounds of resources to our existing 4,877,475 million measured and indicated pounds for a total of 5,875,305 pounds U3O8.
"What is particularly encouraging is uranium grades of .36% U3O8 contained within the Sunday Mine Complex."
The company said the addition of more than 6,000,000 pounds of V2O5 in the measured and indicated category in the report increases contained vanadium pounds to over 19,992,980 pounds of V2O5.