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Last updated on April 23, 2014 at 1:22 EDT

Uranium Energy Corp Acquires Channen Exploration Project in South Texas

May 15, 2012
        --  10,704-acre property is the sixth addition to the Company's
            South Texas hub-and-spoke production strategy.
        --  Property lies on-trend with the Company's recently acquired
            Burke Hollow Project in Bee County, and on-trend with several
            historic and two active in-situ recovery mines.
        --  Company plans to launch near-term drilling program.

NYSE MKT Equities Exchange Symbol – UEC

CORPUS CHRISTI, TX, May 15, 2012 /PRNewswire/ – Uranium Energy Corp. (NYSE MKT:
UEC, the “Company” or “UEC”) is pleased to announce that it has
acquired the rights to explore for uranium on the Channen Project, a
10,704-acre property located in southern Goliad County, Texas (the
“Project”). The project is situated on the Goliad trend within the
prolific South Texas Uranium Belt, and is located approximately 50
miles to the southeast of the Company’s Hobson uranium processing
facility.

The Channen Project lies on-trend with and approximately 20 miles
northeast of the recently acquired Burke Hollow Project in Bee County,
and approximately 25 miles to the south of the Company’s Goliad
Project. The new property was initially identified after analyzing a
group of logs exhibiting gamma-ray anomalies displaying uranium
roll-front deposit type characteristics in several sandstone formations
with information derived from the Company’s extensive exploration
database.

Company geologists are currently planning an aggressive exploration
program to include a drilling campaign that will be initiated upon
receipt of exploration permits from the Railroad Commission of Texas.
It is anticipated that the drill program will initially consist of a
statistical grid covering the entire 10,704-acre property.

Click through here to view a map that shows the Company’s hub-and-spoke
production plan in South Texas, including the location of the Channen
Project in relation to the Company’s processing facility and other
projects: South Texas Projects.

The technical information in this news release has been reported in
accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and has been approved by Andrew Kurrus,
P.G., Chief Geologist, Texas, for UEC, a qualified person under NI
43-101.

About Uranium Energy Corp.

Uranium Energy Corp. is a U.S.-based uranium production, development and
exploration company operating North America’s newest emerging uranium
mine.  The Company’s fully licensed and permitted Hobson processing
facility is central to all of its projects in South Texas, including
the Palangana in-situ recovery project, which is ramping up initial
production, and the Goliad in-situ recovery project which has been
granted its Mine Permit and is in the initial stages of mine
construction.  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 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. 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.

Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although
the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it
can give no assurance that its expectations will be achieved. 
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially from
those projected. Many of these factors are beyond the Company’s ability
to control or predict. 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 press release shall not constitute an offer to sell or
the solicitation of an offer to buy securities. 

 

Contact North America: Investor Relations, Uranium Energy Corp.:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com

Stock Exchange Information:
NYSE-MKT: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103

SOURCE Uranium Energy Corp


Source: PR Newswire