Uranium Energy Corp (NYSE: 'UEC') ('UEC' or the 'Company') is pleased to announce that it has filed a Technical Report Summary ('TRS') on EDGAR, disclosing mineral resources for the Company's Texas Hub & Spoke In-Situ Recovery ('ISR') Project (the 'Project').
Background
As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K ('S-K 1300'); S-K 1300 was adopted by the Securities and Exchange Commission ('SEC') to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with 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 The Project geology is considered amenable to low-cost, environmentally friendly ISR mining methods.
The TRS was prepared under S-K 1300 and was filed on August 11, 2022, with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a 'Material Document' filed on August 11, 2022. The TRS was prepared on behalf of the Company by Western Water Consultants, Inc. d/b/a WWC Engineering, of Sheridan, Wyoming.
Amir Adnani, President and CEO, stated: 'The disclosure of resources in the new S-K 1300 format at our South Texas Hub and Spoke production platform reconfirms the robust nature of the Project. Our database of drilling results, containing decades of exploration logs, shows strong potential for Project expansion and also dovetails well with our initiative to increase the production license at the Hobson Plant. We are pleased with the progress of the Company's domestic ISR profile in Texas and Wyoming as we continue to advance these projects towards near term production. UEC has recently submitted an offer to the U.S. government to supply the uranium reserve ('UR') and we are looking forward to our production ready projects providing future needs of the UR as well as the utility industry.'
Andy Kurrus, V.P. of Resource Development, Texas, stated: 'We are delighted with the expanded production prospects for our Hub and Spoke production platform in South Texas. We see significant potential in this region and will look to advance our exploration and resource delineation efforts which will benefit from our extensive resource database, containing results from 5,232 drill holes, including survey coordinates, collar elevations, depths and grade of uranium intercepts. The quality of this comprehensive data has enabled us to identify promising resource areas without extensive new drilling costs and has accelerated our exploration processes in defining new production areas for our near-term production strategy.'
About the Texas Hub & Spoke Project
The Project consists of five Project areas: Hobson Central Processing Plant ('CPP'), Burke Hollow, Goliad, Palangana and Salvo and is located in Karnes, Bee, Goliad and Duval Counties, Texas. The Hobson CPP will serve as the 'hub' of the Project, with the other Project areas serving as satellite facilities, or the 'spokes'. The Hobson CPP will process all the mineral mined on each of the other Project areas. The Project is in the South Texas Uranium Province ('STUP'), which is part of the South Texas coastal plain portion of the Gulf of Mexico Basin ('GMB').
Mineral rights for the Project are all private (fee) mineral leases. Fee mineral leases are obtained through negotiation with individual mineral owners.
The Project resides in the GMB. The GMB extends over much of South Texas and includes the Texas coastal plain and STUP where the Project is located. The coastal plain is bounded by the Rocky Mountain uplift to the west and drains into the Gulf of Mexico. The coastal plain is comprised of marine, non-marine and continental sediments ranging in age from Paleozoic through Cenozoic.
About Uranium Energy Corp
Uranium Energy Corp is America's leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure play uranium company and is advancing the next generation of low-cost, environmentally friendly In-Situ Recovery (ISR) mining uranium projects. The Company has two production ready ISR hub and spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray plants. UEC also has seven U.S. ISR uranium projects with all of their major permits in place. Additionally, the Company has other diversified holdings of uranium assets, including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp. and (3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes 'forward-looking statements' as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans, 'estimates' or 'intends', or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as 'forward-looking statements'. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
URANIUM ENERGY CORP. 
