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Uranium Energy Corp Completes Acquisition of Major South Texas Uranium Exploration Database

September 8, 2011

NYSE Amex Equities Exchange Symbol – UEC

CORPUS CHRISTI, TX, Sept. 8, 2011 /PRNewswire/ – Uranium Energy Corp
(NYSE-AMEX: UEC, “UEC” or the “Company”) is pleased to announce that it
has now completed the acquisition of a South Texas uranium database
package (the “Database”) from Uranium One. Please see the Company’s
news release dated August 31, 2011 which provides specific details on
the acquired data, as well as the history of the Database.

Uranium Energy has issued 159,236 common shares of the Company at a
price of $3.14 and has paid $400,000 in cash to complete the purchase
of this strategic database which will significantly advance the
Company’s ongoing exploration efforts in South Texas.

The Database is an evaluation of the uranium potential within the Goliad
Formation located along the South Texas Uranium Belt, an area extending
from south of Houston to the Mexican border. The Company’s operating
Hobson in-situ recovery processing facility is situated within the
South Texas uranium belt and its Palangana, Goliad, Salvo and Nichols
projects are specifically located along the Goliad Formation.

UEC is incorporating this Database and the associated acquisition and
exploration targets into its ongoing efforts to develop additional
uranium sources for processing at the Hobson plant. The Database
contains over 2.8 million feet of drilling results and 40 uranium
targets that the Company plans to evaluate.

This database acquisition fits into the Company’s strategy of targeting
properties for acquisition that have already been the subject of
significant exploration and development by senior energy companies in
the past.

The shares of common stock of UEC issued under our agreement with
Uranium One have not been registered under the U.S. Securities Act of
1933, as amended, or any state securities laws and may not be offered
or sold in the United States absent registration thereunder or an
applicable exemption from such registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy any securities.

About Uranium Energy Corp

Uranium Energy Corp. (NYSE-AMEX: UEC) 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
final stages of mine permitting for production. 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, including the Private Securities Litigation Reform Act
of 1995. 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”. Forward looking statements included in
this news release relate to management’s expectation that the Database
will significantly advance the Company’s ongoing exploration efforts in
South Texas.  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. 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. 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.

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. 

SOURCE Uranium Energy Corp


Source: PR Newswire