Uranium Energy Corp. announced that the Texas Commission on Environmental Quality (TCEQ) has approved the Company's submission for a renewed and expanded radioactive material license ("RML") for its Hobson Central Processing Plant. UEC's amended RML from the TCEQ increases the Hobson Processing Plant's licensed production capacity to 4 million pounds of U3O8 annually.

This distinguishes the plant as having the largest licensed capacity in Texas and the second largest in the United States. The Hobson Plant anchors UEC's hub-and-spoke in-situ recovery ("ISR") production platform in South Texas and will process uranium loaded resin recovered from multiple satellite projects including the Palangana and Burke Hollow ISR projects. UEC is also pleased to announce that baseline sampling at its Burke Hollow project's first production area is complete, and that the production area pump test has been conducted successfully.

Baseline sampling of all production area monitor wells and a production area pump test are important steps in finalizing the authorization for production within the already approved Mine Permit area. Due to the success of these endeavors, UEC is now one step closer to initiating production at Burke Hollow and is also now preparing for the second production area delineation drilling. The Burke Hollow project is the newest and largest ISR wellfield being developed in the U.S.