U.S. Energy Corp. Announces Supreme Court Decision Concerning Patented Claims at Its Lucky Jack Molybdenum Project
Wednesday May 2, 9:30 am ET
Supreme Court Affirms 10th Circuit Court of Appeals Decision Upholding Nine Mineral Patents
RIVERTON, Wyo., May 2 /PRNewswire-FirstCall/ -- U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News), natural resource exploration and development companies, today announced that in an order issued on April 30, 2007, the United States Supreme Court denied a petition for certiorari in High Country Citizen's Alliance, et al v. Kathleen Clarke, et al., No. 06-1176. This decision effectively exhausts the legal challenge to the mineral patents associated with the Lucky Jack (formerly known as Mt. Emmons) Molybdenum Project in Gunnison County, Colorado.
High Country Citizen's Alliance, the Town of Crested Butte and the County Commissioners of Gunnison County sought Supreme Court review of a decision of the Tenth Circuit Court of Appeals affirming a lower court decision upholding nine mineral patents issued to the predecessors of the current owners of the Mt. Emmons property, U.S. Energy and Crested Corp. The United States Bureau of Land Management (BLM) issued the patents after determining that the property contained a valuable discovery of molybdenum. High Country Citizen's Alliance, the Town of Crested Butte and the County Commissioners of Gunnison County had filed a protest with BLM as part of the patenting process, and then sought review of the decision in the courts. Both the trial court and the Tenth Circuit Court of Appeals determined that protesters did not have the right to have the BLM decision reviewed in the court. By denying the petition for certiorari, the Supreme Court brought these legal proceedings to a close.
"We are very pleased with this ruling as the highest court in the nation found no reason to question the validity of the patented claims overlying our 'world-class' molybdenum deposit," stated Mark J. Larsen, President of U.S. Energy Corp.
ABOUT U.S. ENERGY CORP. AND CRESTED CORP.
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
and Forward-Looking Statements
USE and Crested (the "Company") own or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company's mineral properties. Examples of these other companies are Sutter Gold Mining Inc., Uranium Power Corp., sxr Uranium One Inc., and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute "forward- looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company's Form 10-K ("Disclosure Regarding Forward-Looking Statements"; "Disclosure Regarding Mineral Resources under SEC and Canadian Regulation"; and "Risk Factors"); and similar disclosures in the Company's Forms 10-Q.
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Source: U.S. Energy Corp. |
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