Azarga Uranium Corp: Annual General and Special Meeting 2017 Voting Results

GREENWOOD VILLAGE, COLORADO--(Marketwired - July 7, 2017) - AZARGA URANIUM CORP. (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURF) ("Azarga Uranium" or the "Company") announces that all resolutions put forward at the Annual General and Special Meeting (the "Meeting") of the Company's shareholders (the "Shareholders"), as further described in the Company's information circular dated 25 May 2017, were approved, including the following:

• Setting the number of directors of Azarga Uranium (the "Directors") until the next annual general meeting of Azarga Uranium to seven (7).
• Election of Directors: the nominees listed in the management proxy circular dated 25 May 2017 for the Meeting of the Company held on 30 June 2017: Alexander Bayer; Curtis Church; Richard F. Clement, Jr.; Joseph Havlin; Matthew O'Kane; Apolonius (Paul) Struijk; and Delos Cy Jamison were all elected as Directors until the next annual general meeting of the Shareholders. Detailed results of the vote for the election of Directors held at the Meeting are set out below:

• Appointment of BDO Canada LLP as auditors of the Company for the fiscal period ending December 31, 2017 and the Director's right to fix the remuneration to be paid to BDO Canada LLP.
• Issuance of 87,500 Class A common shares of Azarga Uranium (each, a "Share") as a payment to an independent consultant of the Company.
• Issuance of 750,000 Shares as a bonus payment to an insider of the Company (which was approved by a majority of disinterested shareholders).

For further information, please see the Company's Report of Voting Results, which will be filed on SEDAR at www.sedar.com.

In addition, in accordance with the terms of the outstanding US$1.8 million convertible loan agreement with certain shareholders, as amended, the Company elected to exercise its option and extend the maturity of the convertible loan agreement to July 31, 2020. As a result, effective July 31, 2017, the annual interest rate will increase to 15% from 10% per annum.

About Azarga Uranium Corp.

Azarga Uranium is a mineral development company that controls six uranium projects, deposits and prospects in the United States of America (South Dakota, Wyoming and Colorado) and the Kyrgyz Republic. The Dewey Burdock Uranium Project in South Dakota (the "Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and draft Class III and Class V Underground Injection Control ("UIC") permits from the Environmental Protection Agency ("EPA") and the Company is in the process of completing other major regulatory permit approvals necessary for development of the Project, including the final Class III and Class V UIC permits from the EPA.

For more information please visit www.azargauranium.com.

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Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements may include, but are not limited to, statements with respect to the Company's continued efforts to obtain all major regulatory permit approvals necessary for development of the Project, including the final Class III and Class V UIC permits from the EPA. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: (1) the risk that the Company does not obtain all major regulatory permit approvals necessary for development of the Project, including the final Class III and Class V UIC permits from the EPA, (2) the risk that such statements may prove to be inaccurate and (3) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's most recent MD&A filed with Canadian security regulators.

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