Uranium Energy Corp Advances Burke Hollow Project in South Texas

February 27, 2014

NYSE MKT Equities Exchange Symbol – UEC

        --  Baseline monitoring wells completed as part of accelerated
            production permitting;
        --  Mineralized fronts of known resource trends continue to extend;
        --  Two new mineralized horizons have been identified and are being

CORPUS CHRISTI, TX, Feb. 27, 2014 /PRNewswire/ – Uranium Energy Corp (NYSE MKT: UEC, the “Company”) is pleased to provide an update on
permitting, exploration and development activities at its Burke Hollow
Project. The current drilling campaign was initiated on November 4,
2013, and is continuing with three drill rigs on site. The first phase
of the program consisted of drilling to accelerate production
permitting, which has been completed, and the program is now focused on
exploration, resource delineation and development drilling. Since the
inception of the program, forty-two holes have been drilled and a total
of 80 holes is budgeted.

Andy Kurrus, Vice President of Resource Development, stated: “The
geological team at the Company is excited by the rapid progress we’re
making at Burke Hollow. In particular, the two new mineralized zones
hold potential for adding significant resources at the project.”

As part of the Company’s accelerated permitting program for the Burke
Hollow Project, six monitoring wells were successfully completed and
are to be used in the establishment of baseline water quality for the
project. This brings the number of regional baseline monitoring wells
at the project to 30. The recently installed wells were drilled and
cased within the first projected production area and will be used in
the pre-operational groundwater characterization sampling program,
results of which will be included in the mining permit application to
be submitted to the Texas Commission on Environmental Quality.

Through careful study of the results from previous drilling campaigns,
two new horizons have been identified and will be explored during the
remainder of the current drilling campaign. An extension of the Goliad
370-foot sand and additional target sands will be explored over a
prospective four mile geological trend in undrilled areas of the Burke
Hollow Project. Additionally, Goliad target sands ranging in depth from
280 to 560 feet have been identified and will also be explored during
this campaign. Plans to test the potentially productive lower Goliad
sands lying between 650 and 1,100 feet in depth have been developed and
will be carried out over the coming months.

The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in NI
43-101 and was reviewed by Clyde L. Yancey, P.G., Vice
President-Exploration for the Company, a QP under NI 43-101.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration
company. The Company’s fully licensed and permitted Hobson processing
facility is central to all of its projects in South Texas, including
the operating Palangana in-situ recovery mine and the Goliad in-situ
recovery project which is currently in 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.

Stock Exchange Information:


Frankfurt Stock Exchange Symbol: U6Z


ISN: US916896103

Safe Harbor Statement

Certain information contained in this news release constitutes
“forward-looking statements” as such term is used in applicable United
States and Canadian laws. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
“expects” or “does not expect”, “is expected”, “anticipates” or “does
not anticipate”, “plans”, “estimates”, “intends” or “believes”, or that
certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur”, or “be achieved”.

Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made, and are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of UEC to be materially
different from those expressed or implied by such forward-looking
statements. Many of these factors are beyond UEC’s ability to control
or predict. Important factors that may cause actual results to differ
materially and that could impact UEC and the statements contained in
this news release can be found in UEC’s filings with the SEC. Such
risks and other factors include, among others, variations in the
underlying assumptions associated with the estimation or realization of
mineralization, the availability of financing on acceptable terms,
accidents, labor disputes, acts of God and other risks of the mining
industry including, without limitation, risk of liability under
environmental protection legislation, delays in obtaining governmental
approvals or permits, title disputes or claims limitations on insurance
coverage. UEC believes that the expectations reflected in the
forward-looking statements included in this news release are
reasonable; however, no assurance can be given that these expectations
will prove to be correct, and such forward-looking statements should
not be unduly relied upon.

For forward-looking statements in this news release, UEC claims the
protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. UEC assumes
no obligation to update or supplement any forward-looking statements
whether as a result of new information, future events or otherwise.

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

SOURCE Uranium Energy Corp

Source: PR Newswire

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