AREVA applies for uranium exploration licences in Finland

News brief

ACTIVITIES / NUCLEAR POWER

November 30, 2005

In a preliminary geological survey conducted in 2005, AREVA has recently confirmed the potential for uranium occurrences within Askola (southern Finland) and Eno (eastern Finland) regions.

Considering these positive results, the group has decided to progress to narrow and more focused exploration in areas and has applied for exploration licences over three smaller zones.

The uranium exploration uses the same prospecting methods as those used during exploration for other metal-bearing deposits such as geological and geophysical surveys, soil and water chemistry and test drillings.

This will be the main objective for 2006 exploration activities supervised by Finnish and French geologists. Next year's survey will cost AREVA round 1.7 million euros. Each year, AREVA will decide to go further into the investigations: if the conclusions keeps being positive, AREVA will launch drilling campaigns, which are the last step prior to a feasibility study and any decision of investment.