Item 7.01 Regulation FD Disclosure
On
Highlights:
? Located inSouth Texas ,Burke Hollow's initial Production Area Authorization 1 ("PAA-1") is the newest and largest In-Situ Recovery ("ISR") wellfield being developed inthe United States . ? Completing installation of the 106 monitor wells for PAA-1 marks a significant milestone achievement towards ISR uranium production at the Project. ? This is a significant development for UEC and an important step in America's nuclear fuel supply chain to provide safe, clean and reliable carbon-free energy. ? AdvancingBurke Hollow towards production is timely as theU.S. looks to reduce its imports of Russian uranium.The U.S. National Nuclear Security Administration (NNSA) has recently begun the process to acquireU.S. produced uranium for America's strategic Uranium Reserve. NNSA has issued an initial solicitation to purchase up to approximately one million pounds of domestically produced uranium. ? With the successful installation of the PAA-1 monitor well ring, UEC plans to transition into additional exploration and delineation drilling within the 19,336-acre Project to define additional production areas. ? UEC'sSouth Texas hub-and-spoke strategy is anchored by its fully licensed Hobson Processing Plant and five ISR projects, including its fully permitted Palangana,Goliad andBurke Hollow projects. ? To learn more about the environmental, social and low-cost advantages of uranium In-Situ Recovery, visit https://www.uraniumenergy.com/projects/isr/
We have also defined resources outside of PAA-1 at the Project, including
several exploration targets and anomalous areas that have only been lightly
explored. We expect this to translate into an extensive Project pipeline with
additional exploration drilling and production area development in the near
future. The development of
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In this stage of Project advancement, well development and baseline sampling are expected to be complete by mid-August followed by aquifer testing. Preparation for an authorization application which sits within the current mine permit for the Project, is planned for submittal prior to the end of the calendar year.
The mineralization in PAA-1 is hosted within the Pliocene aged Goliad Formation, in what the Company has termed the "Lower B Sand". This unit, positioned at approximately 390 to 450 feet in depth, is comprised of four sub-units of mineralization.
In 2017, UEC refocused and then concentrated its
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 27, 2022 . 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). __________ - 3 - --------------------------------------------------------------------------------
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