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State of Colorado Gives Nod to Amended Work Program for US Energy Corp. (USEG) and Partner’s Drilling Project

US Energy Corp. (USEG) said today the Colorado Division of Mining has granted approval to the company’s partner in a molybdenum drilling project for an amended work program to undertake delineation drilling. US Energy said safety and potential cost considerations dictated revision of the Lucky Jack molybdenum project at the historic Keystone Mine. Most of the old workings located in the mine will be bypassed by construction of a new access drift, according to the diversified natural resources company.

US Energy’s partner in the Lucky Jack molybdenum project is Kobex Resources Ltd. (KBX.V), a Vancouver, British Columbia, Canada-based company that said it remains committed to incorporating the highest environmental standards into its mine design.

US Energy Chief Executive Keith G. Larsen added that his company’s “goal is to conduct our operations at the Lucky Jack molybdenum project in an environmentally sound manner that benefits all stakeholders and increases shareholders value.”

Riverton, Wyo.-based US Energy engages in the acquisition, exploration, development, production, and sale or lease of mineral properties, primarily exploring for hard rock minerals, including lead, zinc, silver, molybdenum, gold, uranium, and oil and gas. The company holds interest primarily in the Lucky Jack molybdenum project in Crested Butte, Colorado.

A notice of activity incorporating this revised program has been submitted to Gunnison County, Colorado for its review. It is now anticipated that this program, including drilling, will be completed by mid-2009.

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