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International Isotopes Inc. Announces U.S. Nuclear Regulatory Commission Acceptance of the License Application for the Proposed Uranium De-Conversion and Fluorine Extraction Processing Facility

March 1, 2010

IDAHO FALLS, Idaho, Mar. 1 /PRNewswire-FirstCall/ — International Isotopes Inc. (OTC Bulletin Board: INIS) announces the U.S. Nuclear Regulatory Commission (NRC) has formally accepted for review the Company’s license application for its depleted uranium de-conversion and fluorine extraction processing facility.

The NRC letter stated “We have received [the INIS] application, including an Environmental Report and an Integrated Safety Analysis Summary, dated December 30, 2009, to possess and use source and by-product material at the proposed International Isotopes Fluorine Products, Inc. (IIFP) facility…[and]… have determined the application to be acceptable for formal review.” Based upon NRC’s projection of the administrative and technical review schedules, they anticipate completing the license review and issuing the license Safety Evaluation Report and Environmental Impact Statement documents by January 2012. NRC also notes, however, that this date could change depending on budget and resource constraints, the findings of their technical review, or other factors.

Steve T. Laflin, President and CEO, stated, “The de-conversion facility is a first of its kind commercial nuclear installation and the licensing requirements for such a facility were not clearly defined. The Company had to communicate frequently with the NRC to define these regulatory requirements in order to permit us to prepare an application that would meet present, as well as future anticipated, regulatory requirements for combined fuel cycle and uranium processing facilities. We are very pleased with the NRC’s prompt acceptance of the license application and credit our excellent staff and subcontractor support for the preparation of a high quality license application document.”

About International Isotopes Inc.

International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The Company also provides a wide selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications and provides a host of analytical, measurement, recycling, and processing services on a contract basis to clients.

International Isotopes Inc. Safe Harbor Statement

Certain statements in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including the statements with respect to the Company’s goals with respect to constructing a depleted uranium de-conversion processing and fluorine extraction facility and specifically including statements regarding the licensing approval and schedule for the project. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in International Isotopes Inc.’s filings with the Securities and Exchange Commission at www.sec.gov, including our annual report on Form 10-KSB for the year ending December 31, 2008. Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


    FOR MORE INFORMATION CONTACT:

    Jim Drewitz
    Creative Options Communications
    Investor & Public Relations
    jim@jdcreativeoptions.com
    Phone: 830-669-2466

For more information, please visit the Company web site www.intisoid.com

SOURCE International Isotopes Inc.


Source: newswire



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