Azarga Uranium Corp. announced that its Chairman and CEO, Alexander Molyneux, has informed the company that he will be taking a temporary leave of absence. Mr. Molyneux has assumed the role of Interim CEO of Paladin Energy Limited.

He has informed Azarga that the arrangement is temporary and he intends to resume his role as Chairman and CEO of the company. Furthermore, Mr. Molyneux has advised the Company that he has no intention of selling any of his substantial shareholding in the company. The company announced the appointment of Blake Steele, Azarga's current CFO, to the additional role of President.

Azarga's Deputy Chairman, Richard Clement, has agreed to act as Chairman during Mr. Molyneux's absence. The executive component of Mr. Molyneux's role will be shared between Mr. Clement and Mr. Steele.