Together with the Anderson project, UEC currently manages more than £32m of measured and directed resources and an estimated resource of around £4.5m. Arizona

Corpus Christi, Texas, March 16, 2023 /CNW/- Uran Energy Corporation (NYSE American: UEC, “company” again “UEC“) is pleased to announce that it has submitted a Technical Report Summary (“TRS”) for EDGAR disclosing mineral resources for its Workman Creek project. Arizona (project”).

Background:

• As a U.S. and domiciled company, the UEC currently reports all mineral resources in accordance with Section 1302 of Regulation SK (“SK 1300”).

• SK 1300 was adopted by the Securities and Exchange Commission (“SEC”) to modernize mineral character disclosure requirements for mining registrants and to bring U.S. disclosure requirements for mineral character closer to current industry and global regulatory standards. Adopted.

• Mineral Resource estimates contained in this TRS have never been reported in SK 1300 format.and

• The total estimated resource disclosed for the Workman Creek project is listed as £4,459,000. EU₃〇₈ 0.113% eU at 1,981,000 tonnes grading₃〇₈Drilling data from 446 boreholes were used to estimate the current mineral resources.

Amir Adonani, President and CEO, said: Together with the Anderson project, UEC currently manages more than £32m of measured and directed resources and an estimated £4.5m of resources. Arizona, a mining-friendly state and home to the Palo Verde Nuclear Power Plant, the largest producer of electricity in the United States. Provides no-obligation uranium supply to UEC’s project pipeline. ”

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TRS is made based on SK 1300, March 14, 2023 It may also be filed with the SEC via EDGAR on Form 8-K and filed as a “Material Document” on SEDAR. March 14thThe TRS was created on behalf of the company by Douglas L. Beahm (PE, PG, Principal Engineer) and Carl Warren (PE, PG, Project Engineer) from BRS Engineering. Clyde L. YanceyPG, Consulting Geologist.

About the Workman Creek Project

The Workman Creek project is located at: Gila Countymiddle Arizonaabout 70 miles northeast phoenix and about 31 miles northwest glove, a historic mining center. The project is located approximately 3,000 feet east of State Route 288 in Tonto National Forest on both sides of Workman Creek. The project is located in part of Townships 5N, 6N and 7N. Range 14E, Gila-Salt River Meridian.

The Workman Creek project consists of three billing blocks, a major continuous billing block along Workman Creek and two non-continuous billing blocks (Pendleton and Oak Creek), there are a total of 198 unpatented mining claims comprising approximately 3,871 acres.

The project and the surrounding areas of the Sierra Ancha region are covered by Precambrian igneous and sedimentary rocks. The sedimentary rocks lie mostly flat except for a small relief near the monoclinic line of regional scale. Dripping spring quartzite is the host rock for uranium mineralization throughout the Sierra Ancha region.

Uranium mineralization in dripping spring quartzite consists of fine-grained strata, bedding planes, high-grade layers and low-grade disseminations and concentrations along veinlets. The area was previously partially mined. The Sierra Ancha region has 18 historic uranium mines that were in operation from 1953 to 1960. Over 122,000 pounds of his U3O8 concentrate was produced during this period, with an average grade of 0.20% of his U3O8.

Within the project area, drilling data from 446 boreholes was used for current mineral resource estimates, including borehole location and ore grade data. The company has not completed drilling for the project.

mineral resources

Mineral resource estimates in the TRS draw on geological interpretation methodologies used by the authors in similar projects. The primary method used to estimate uranium mineral resources is the grade-by-thickness (“GT”) contour method. Dripping spring quartzite is a metamorphic sedimentary body, but its plate-like mineralization style macroscopically bounded by stratigraphy lends itself to the GT contour method.Resource estimates were generated using drill hole sample results and an interpretation of a geological model that relates and constrains the spatial distribution of eU₃〇₈ Mineral resources were estimated separately for each resource zone. First, we estimated the total amount of mineralized material contained. Reasonable prospects for economic extraction were then applied, as described in the TRS. Project Inferred Mineral Resource estimation results are reported in the following table.

Workman Creek Project Estimated Mineral Resource

The technical information in this news release was contributed by PE, PG, Principal Engineer Douglas L. Beahm of BRS Engineering, and Clyde L. YanceyPG, Consulting Geologist, Qualified Person under Item 1302 of Regulation SK.

About Uran Energy Corporation

Uranium Energy Corp is a fast-growing supplier of fuels for the green energy transition to a low-carbon future. UEC is the largest diversified uranium company in North America, advancing low-cost, environmentally friendly, next-generation in situ recovery (ISR) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming, backed by fully licensed operational central processing plants. UEC also has seven US ISR uranium projects with all major permits. In addition, we have a diverse uranium holding, including: (2) Major stake in Uranium Royalty Corp., the only royalty company in the field. (3) A pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in key aspects of uranium exploration, development and mining.

Stock exchange information:
New York Stock Exchange American: UEC
Symbols of the Frankfurt Stock Exchange: U6Z
WKN: AØJDRR
ISN: US916896103

safe harbor declaration

Except for statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements.” America and Canadian Securities Law. These statements relate to forecasts of future results, estimates of amounts that cannot yet be determined, and analyzes and other information based on management’s assumptions.Predictions, expectations, beliefs, plans, projections, objectives, assumptions, or other statements that express or involve discussions about future events or performance (but not always, words or phrases such as “expect” or “do not expect”) ”, “expected”, “anticipated” or “unexpected”, “planned,” “estimated” or “intended”, or that a particular action, event or outcome is “likely” “There may be”, “may”, “will”, “Such forward-looking statements involve known and unknown risks, uncertainties and other factors that Forward-looking statements indicate that our actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by forward-looking statements. Other factors include, among other things, the actual results of exploration activities, volatility. Underlying assumptions related to the estimation or realization of mineral resources, the availability of capital to fund the program, and equity. related to the environment, including dilution, accidents, labor disputes, and other risks of mining caused by the raising of capital through the sale of a We do not accept that our actual actions, events or results may Although we have attempted to identify important factors that could cause actions, events or results to differ from those expected, estimated or intended, there may be these factors. Many of these factors are beyond the Company’s ability to control or predict, and actual results and future events could differ materially from those anticipated in such statements. There is no guarantee that they will prove to be accurate, and readers should not place undue reliance on the forward-looking statements contained in this news release and the documents referenced in this news release. Important factors that could cause results to differ materially and that could affect the Company and the statements contained in this news release are set forth in the Company’s filings with the U.S. Securities and Exchange Commission. vinegar. With respect to the forward-looking statements in this news release, the Company claims the protection of Safer Haber against the forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. As a result of new information, future events or otherwise. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities.

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Source Uranium Energy Corp.

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