Uranium Energy Corp. (UEC) Updates Investor Community on Permitting Status of Goliad, Burke Hollow, and Channen Projects

Today before the opening bell, Uranium Energy provided a progress report on its permits. The company reported recent correspondence whereby the regional EPA requested additional information from the Texas Commission on Environmental Quality (the “TCEQ”) regarding UEC’s aquifer exemption at its Goliad in-situ recovery (“ISR”) uranium project located in Goliad County in South Texas.

The company has received all of the required permits to begin construction at the Goliad ISR project. As previously announced, an aquifer exemption is required before uranium recovery activities can be initiated. Aquifer exemptions are issued jointly by the regional EPA and the State (TCEQ). TCEQ has earlier granted the Goliad project aquifer exemption, and has filed a request for EPA’s concurrence. With the regional EPA’s concurrence, UEC can initiate uranium recovery operations at the site.

In past reviews of aquifer exemptions, the EPA has made requests for additional information as part of its ordinary review process, and, as noted in its letter to the TCEQ, has issued more than 30 aquifer exemptions for in-situ uranium mining in Texas. The company will continue to work with the TCEQ and the EPA as the review process moves forward.

The company was also pleased to report receipt last week of the exploration permit for the new Burke Hollow project in Bee County. Exploration drilling, scheduled to commence this week, will extend and delineate mineralized zones discovered from historical drilling by a subsidiary of Total Minerals in 1993. The drilling program will also include a statistical grid covering the entire 17,510-acre property.

By about this time next month, UEC also anticipates receipt of the exploration permit for the company’s newest project in South Texas, the Channen ISR project in Goliad County, with initial drilling to commence by the end of June. The drill program will initially consist of a statistical grid covering the entire 10,704-acre property.

To learn more about these projects, as well as UEC, visit the company’s website at www.UraniumEnergy.com

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