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Powertech Uranium Corp. JANUARY 10 www. bus- ex. com 41 Although Synatom has the capability- by virtue of the interest it holds in Powertech- to purchase a lot of the uranium Powertech produces, " that is based on future contracting opportunities," Clement says. " But with the market demand of this country's nuclear industry approaching 70 million pounds of uranium per year and only 4 million pounds being produced domestically, there is already a huge need for uranium in the US. And with other countries currently building reactors and increasing the demand for uranium, our market is virtually guaranteed for years." In the US today there are several applications to build nuclear plants waiting to be reviewed by the Nuclear Regulatory Commission and the Environmental Protection Agency, and if those are approved and continue through the permitting process, construction will begin in the coming years. " The impetus globally now is that with the greenhouse gas and global warming issues coming to the forefront, everyone's beginning to realize that the only way to resolve the issue is with nuclear energy. It's something that should have been undertaken many years ago, and it's one of the reasons I entered the uranium business." the mishap at Three Mile Island occurred, " and the price of uranium went way down as the price of oil went way up. And this entire area sat fallow for years," says Clement. " That's why we're able to have all these ore deposits available for development today, because of all the exploration work done in the 1970s." As far as environmental concerns, Clement points out the difference between perception and reality. " Perception- wise there has always been a lack of understanding about uranium and nuclear, and consequently there was the fear of development and of nearby property values decreasing. On the other hand, there is tremendous opportunity, in that the mineral rights we have are leased from private owners, so they stand to make a large income for the value of their resources. So there is always a mix of support, including a lack of it from various quarters associated with any type of mining deposit, anywhere in the world. In terms of real environmental concerns, in- situ has none; it's probably the most benign method of mining that exists, since it's done carefully and is well scrutinized by various agencies. So there's no danger from either radiation or chemical effects on the environment." Knight Piésold's extensive worldwide mining experience in engineering and environmental services allows the firm to provide diverse technical expertise to Powertech in the development of their uranium projects. Knight Piésold supports uranium exploration and production in the United States as a clean, reliable, long- term solution to meeting current and future energy demands. Knight Piésold

42 www. bus- ex. com JANUARY 10 Belt Beneath the