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NYSE American:听UEC

Highlights:

• Commissioned first new mine-unit at Christensen Ranch In-Situ Recovery ("ISR") Mine, with Header House 10-7 coming online as part of the phased ramp-up of Wyoming's Powder River Basin operations.
• Construction advancing at Burke Hollow in South Texas, with major equipment installed at the satellite ion exchange plant and disposal well development in progress.
• Sweetwater production hub development progressing,听with a Technical Report Summary ("TRS") to be issued at the end of fiscal 2025 for a new Hub-and-Spoke model anchored by the Sweetwater Plant in the Great Divide Basin, Wyoming.
• Roughrider Pre-Feasibility initiated,听with metallurgical test work significantly advanced, bulk solvent extraction and yellowcake precipitation completed; and process initiated for a formal S-K 1300 Pre-Feasibility Study.
• Expanded the U.S. Operations and Technical Team,听with the Wyoming and Texas workforce growing to more than 100 employees. Key personnel were added in operations, geology, metallurgy and supply chain management, deepening the production team's bench strength.
• Quadrupling of U.S. nuclear capacity听with transformational Executive Orders from the Trump Administration, that also include fast track permitting support for advanced and micro-reactors and reducing U.S. dependence on foreign sources of nuclear fuel as a matter of national security.
• Increasing demand for U.S. origin uranium, with a memorandum of understanding signed for Wyoming produced uranium concentrates to Radiant Industries, Inc., a microreactor company in preparation for testing at the Idaho National Laboratory.

Financial Highlights:

• $271 million of cash, inventory and equities听at market prices⁽¹⁾, and no debt on May 30, 2025.
• Inventory totals 1,356,000 pounds of U₃O₈听valued at $96.6 million at market prices⁽¹⁾. UEC's U.S. warehoused physical uranium program will be expanded by 300,000 pounds through purchase contracts in December 2025 at $37.05 per pound, providing a low-cost stream of physical uranium at a time of heightened geopolitical uncertainty.

CORPUS CHRISTI, Texas, June 2, 2025 /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to report that it has filed its quarterly report on Form 10-Q for the quarter ended April 30, 2025, with the U.S. Securities and Exchange Commission (the "SEC"). The Form 10-Q filing, which includes the Company's interim condensed consolidated financial statements, related notes thereto and management's discussion and analysis, is available on the Company's website at and at .

Amir Adnani, President and CEO, stated:

"With the U.S. now targeting a fourfold expansion of nuclear capacity and rebuilding its nuclear industrial base under Presidential Executive Orders, UEC's production ramp-up is strategically aligned with the expected increase in uranium demand.

This quarter's operational milestones鈥攃ommissioning new ISR production in Wyoming and advancing construction in South Texas鈥攗nderscore how ideally positioned UEC is to meet the call for secure, scalable and 100% domestic uranium supply.

Additionally, preparing our Roughrider project in Canada for pre-feasibility aims to add another layer of reliable uranium supply from a stable jurisdiction for longer term demand. The Administration has made clear that uranium mining, along with conversion and enrichment, are critical to national security. As America's leading uranium company, we are ready to fuel this transformation with low-cost production platforms across the U.S. and Canada."

Christensen Ranch and Irigaray ISR Operations, Wyoming

UEC achieved a significant operational milestone this quarter with the听startup of Header House 10-7, marking the first new production area at Christensen Ranch as part of its phased restart. This new header house began delivering feed along with past-producing wellfields 7, 8, and 10 to the satellite ion exchange plant, resulting in a听notable increase in uranium head grade听from the operating wellfields. Construction of听Header House 10-8听is nearly complete, with transformers, motor control centers, programmable logic controllers, and injection and recovery headers installed鈥攐nly final trenching and tie-ins remain.

Key refurbishment work was completed at both the听Christensen Ranch ion exchange plant听and the听Irigaray Central Processing Plant. At Christensen Ranch, eight ion exchange columns were taken offline for internal piping replacement and vessel recoating, while production continued in the expanded area. At Irigaray, the plant operated normally as refurbishment advanced in the听yellowcake packaging area.

Field development advanced with听active drilling in wellfield 11听(piloting, casing, underreaming), delineation drilling in听wellfield 12, and extensions in听wellfields 8 and 10. Consistent with UEC's sustainability commitments and regulatory obligations,听plugging and abandonment of wells in wellfield 2听was also initiated during the quarter.

As a result of the ramp-up,听employment at Christensen Ranch increased to 63 personnel, supporting the Company's growing operations in Wyoming's Powder River Basin.

Burke Hollow ISR Project, South Texas

Construction at the听Burke Hollow Project听continued to progress on schedule, with key advances made across wellfield development and processing infrastructure.

In听Production Area One (PA-1), drilling activity remained robust with听101 additional holes completed听and听65 wells cased听to expand the production footprint. Simultaneously, the听installation of the high-density polyethylene (HDPE) trunkline听between the satellite ion exchange plant and PA-1 began, marking another key step in preparing for flowline integration. At听Production Area Two (PA-2), drilling commenced to define the footprint for future听perimeter monitor wells, setting the stage for further phased expansion.

Construction of the听satellite ion exchange plant听also advanced meaningfully. Following completion of the main concrete slab in the second quarter of fiscal 2025,听key uranium processing equipment听was received, including a听resin hauling trailer, motor control centers, and two filter presses.听Four ion exchange columns were installed鈥攁ll positioned and internally piped on the foundation. In parallel, a contract was awarded for the drilling of a听deep disposal well, an important component for wastewater management during operational phases.

With these milestones achieved, UEC's听South Texas workforce has grown to 40 personnel, supporting the Company's advancing development at Burke Hollow and broader hub-and-spoke platform in the region.

Sweetwater, Wyoming⁽²⁾听

UEC expects to issue a听TRS with an estimate of mineral resources of the听Great Divide Basin Hub-and-Spoke听by the end of fiscal 2025. In this report, the听Sweetwater Plant听will be designated as the听"Hub,"听supported by a series of satellite projects or听"Spokes."

The Spokes will include:

• Red Desert: REB, ENQ, and Sweetwater deposits
• Green Mountain: Round Park, Phase 2, Whiskey Peak, and Desert View Resource Zones
• Additional nearby properties:听JAB,听Clarkson Hill, and听Red Rim

In parallel with the TRS work, UEC has initiated efforts to听amend the conventional mining permits听at the听Sweetwater Uranium Project. These amendments will incorporate:

• ISR mining methods
• ISR-mineable resources
• A听new ion exchange and elution circuit听at the Sweetwater Plant

These activities are advancing UEC's development plans for a scalable hub-and-spoke ISR production platform in Wyoming's Great Divide Basin.

Roughrider Project, Saskatchewan

In preparation for a proposed听pre-feasibility study, UEC drilled metallurgical holes听in 2024 across the听West Zone, East Zone, and Far East Zone听at the Roughrider Project. The drill cores were collected to confirm metallurgical testing听aimed at advancing the project toward the next stage of technical development.

Metallurgical test work, initiated in January 2025, is being conducted by听SGS Canada Inc. 鈥� Mineral Services听at its laboratory in听Lakefield, Ontario. Testing completed to date includes:

• Bulk solvent extraction听on pregnant leach solution to generate raffinate and pregnant strip liquor
• Gypsum removal听from the pregnant strip liquor
• Yellowcake precipitation
• Bulk tailings neutralization and effluent treatment
• Liquid/solid separation听of simulated tailings

In parallel, UEC has initiated a request for proposal to engage qualified firms for the preparation of the forthcoming pre-feasibility study and related TRS.

Notes:

1. Market values for securities are based on closing prices as at May 30, 2025, and for uranium inventories are based on the spot price quoted on UxC CVD as of such date.
   
   
2. On September 14, 2022, UEC filed an expanded S-K 1300 TRS for the Wyoming Hub-and-Spoke platform, covering properties throughout Wyoming. UEC is now dividing the Wyoming TRS into two Hub-and-Spoke reports 鈥� one for the Great Divide Basin Hub (Sweetwater Plant and properties) and the other for the Powder River Basin Hub (Irigaray Plant and properties). 听The Great Divide Basin Hub-and-Spoke TRS is expected to be issued at the end of fiscal 2025. The Powder River Basin Hub-and-Spoke TRS is expected to be issued shortly thereafter.

About听Uranium听Energy Corp

Uranium Energy Corp is America's largest and fastest growing supplier of uranium needed to produce safe, clean, reliable nuclear energy. UEC is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has three ISR hub-and-spoke platforms in South Texas and Wyoming. These production platforms are anchored by licensed Central Processing Plants that will be served by a pipeline of satellite ISR projects, including seven that already have their major permits in place. In August 2024, operations were restarted and ramp-up commenced at the Christensen Ranch Project in Wyoming, sending uranium loaded resin to the Irigaray Plant (Wyoming Powder River Basin hub). Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U₃O₈; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
WKN: 础脴闯顿搁搁
ISN: US916896103

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. They include statements regarding the Company's expectations regarding its projects, including future work programs and studies, the impacts of recent Executive Orders, and expectations regarding future uranium demand. 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, future mineral resource estimates may vary from historic estimates, 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.

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SOURCE Uranium Energy Corp