URANIUM ENERGY CORP. Item 7.01 Regulation FD Disclosure
OnJuly 13, 2022 ,Uranium Energy Corp. (the "Company" or "UEC") issued a news release to announce that it had filed a Technical Report Summary ("TRS") on EDGAR disclosing mineral resources for theCompany's Anderson Project located inArizona (the "Project"). Background:
? As a
resources in accordance with Item 1302 of Regulation S-K ("S-K 1300");
? S-K 1300 was adopted by the
modernize mineral property disclosure requirements for mining registrants and
to align
current industry and global regulatory standards;
? The mineral resource estimates set forth in this TRS have not previously been
reported under the S-K 1300 format; and
?
and ranks among the largest
mining.
Total disclosed Indicated Resources for the
The TRS was prepared under S-K 1300 and was filed onJuly 12, 2022 with theSEC through EDGAR on Form 8-K and is also available on SEDAR as a "Material Document" filed onJuly 12, 2022 . The TRS was prepared on behalf of the Company by Douglas L. Beahm, P.E., P.G., Principal Engineer of BRS Engineering, and byClyde L. Yancey , P.G., Vice President of Exploration of UEC.Amir Adnani , President and CEO stated: "We are very pleased with this update of the Company's former NI-43 101 resources into fully compliant S-K 1300 resources for ourAnderson Project and to see resources move up from the Inferred category to the Indicated category. America's uranium resources are becoming increasingly important for utility and government buyers looking for reliable supplies from stableU.S. jurisdictions.The Anderson Project is an important asset in UEC's project pipeline that will be available to supply the longer term needs of utilities and the Federal government seekingU.S. supply assurance."
About the
The Project is located inYavapai County , west-centralArizona , approximately 75 miles northwest ofPhoenix and 43 miles northwest ofWickenburg, Arizona . The general area is situated along the northeast margin of theDate Creek Basin . The planned mining method for the Project is by a combination of open-pit and underground conventional mining. The Project covers 8,268 acres (12.9 square miles) and is comprised of 386 contiguous, unpatented lode mining and placer claims and one Arizona State land section. The northern section of theAnderson Project area holds the open-pit resource, and the adjacent southern section holds the underground resource. - 2 - -------------------------------------------------------------------------------- The Project is located along the northeast margin of theDate Creek Basin of the Basin andRange Province of the westernUnited States . Uranium mineralization is strata bound and occurs exclusively in the sequence of Miocene-age lacustrine lakebed sediments. The lacustrine sediments unconformably overlie the andesitic volcanic unit over most of the Project.
The area was discovered by radiometric surveys at outcrop in the 1950s, and
10,758 tons of material containing 33,230 pounds of uranium at a grade of 0.15 %
eU3O8 was mined and shipped to the
Within the Project area, drill data from 1,175 drill holes was used in the
current mineral resource estimate, including hole location and radiometric
equivalent data in 0.5 foot downhole increments. The Company has not completed
any drilling on the
Mineral Resources
Estimated indicated mineral resources are summarized in following table at a
0.02% eU3O8 grade cutoff and a 0.1 ft % GT cutoff. Mineral resources were
estimated separately for each mineralized zone. The total contained mineralized
material was first estimated, then reasonable prospects for economic extraction
were applied.
Mineral resources are not mineral reserves and do not have demonstrated economic
viability. However, considerations of reasonable prospects for eventual economic
extraction were applied to the mineral resource calculations herein.
Average Average Pounds
Mineral Resource Estimates Tons Sum Grade eU3O8
(0.1% Sum GT Cutoff) (millions) Thickness (%eU3O8) (millions)
(ft)
Resource Zone A
Reasonably Extractable Indicated
Resource 0.862 3.8 0.111 1.907
Resource Zone B
Reasonably Extractable Indicated
Resource 7.347 9.5 0.108 15.816
Resource Zone C
Reasonably Extractable Indicated
Resource 6.211 10.4 0.094 11.730
Resource Zone D
Reasonably Extractable Indicated
Resource 0.760 3.2 0.093 1.421
- 3 -
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Resource Zone E
Reasonably Extractable Indicated
Resource 0.911 7.6 0.060 1.095
Resource Zone F
Reasonably Extractable Indicated
Resource 0.084 4.6 0.051 0.086
ALL ZONES GRAND TOTALS
Extractable Indicated Resource 16.175 8.2 0.099 32.055
Notes:
1. Mineral Resources are not mineral reserves and do not have demonstrated economic viability. 2. Economic factors have been applied to the estimates in consideration of reasonable prospects for economic extraction. 3. Totals may not add due to rounding. The technical information in the news release has been reviewed by each of Douglas L. Beahm, P.E., P.G., Principal Engineer of BRS Engineering, andClyde L. Yancey , P.G., Vice President of Exploration of UEC, being Qualified Persons under Item 1302 of Regulation S-K.
A copy of the news release is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits (a) Financial Statements of Business Acquired Not applicable. (b) Pro forma Financial Information Not applicable. (c) Shell Company Transaction Not applicable. (d) Exhibits Exhibit Description 99.1 News Release datedJuly 13, 2022 . 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). __________ - 4 -
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