European Uranium Resources Ltd. Not Proceeding with Portex Minerals Inc. Merger

VANCOUVER, British Columbia--()--European Uranium Resources Ltd. ("EUU") (TSXV: EUU) has today delivered notice to Portex Minerals Inc. that the December 20, 2013 arrangement agreement between Portex and EUU (the “Arrangement Agreement”) is incapable of performance and is frustrated and of no further force or effect. EUU has further notified Portex that in any event, the Arrangement Agreement is terminated.

Accordingly, EUU will not be proceeding with the transactions contemplated by the Arrangement Agreement.

EUU will provide a further update of its plans going forward in the near future.

EUROPEAN URANIUM RESOURCES LTD.

"Dusty Nicol"

Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Dorian (Dusty) Nicol, at (604) 536-2711, or visit www.euresources.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

European Uranium Resources Ltd.
Dorian L. (Dusty) Nicol, 604-536-2711
President and CEO

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Contacts

European Uranium Resources Ltd.
Dorian L. (Dusty) Nicol, 604-536-2711
President and CEO