NYSE American: UEC

Selected Quarterly Highlights

Successfully restarted operations and commenced ramp-up at the Christensen Ranch In-Situ Recovery Mine in Wyoming's Powder River Basin. Transportation of uranium loaded resin has begun from the Christensen Ranch Satellite Plant to the fully operational Irigaray Central Processing Plant. Dried and drummed concentrate production is expected at the Irigaray Plant in early 2025.

Significantly expanded permitted production capacity at the Irigaray Plant to 4.0 million pounds of U3O8 per year. Initiated construction of the Burke Hollow Ion Exchange Facility and accomplished additional infrastructure advancements at the project, including the first production area.

Completed an Initial Economic Assessment for the world class Roughrider Project in Canada's Eastern Athabasca Basin, supporting a post-tax estimated net present value of $946 million, with all in sustaining costs $20.48 per pound U3O8. The assessment shows a projected internal rate of return of 40%, with a 1.4-year payback, and an average annual production rate of 6.8 million pounds U3O8.

"This quarter highlights UEC's ability to execute on key initiatives that strengthen our production capabilities in addition to expanding our asset base," said Amir Adnani, President and CEO.

"Our financial position remains a core strength, with over $350 million in liquid assets and no debt as of October 31, 2024," continued Mr. Adnani.

Christensen Ranch and Irigaray Operations

Christensen Ranch Mine Units 8 and 10, along with the Satellite Plant ion exchange circuit, were commissioned in August and September 2024 with flow now sustained at >3,000 GPM. During this quarter, approval was received from the Wyoming Department of Environmental Quality to increase licensed production capacity at its Irigaray Plant to 4.0 million pounds annually.

Burke Hollow Project

Construction has commenced at Burke Hollow Project with development work including installation of injection and recovery wells in PAA-1 as part of satellite operations for Hobson Central Processing Plant.

About Uranium Energy Corp

Uranium Energy Corp is America's largest supplier of uranium needed for nuclear energy production. The company advances environmentally friendly ISR mining projects across North America while maintaining significant uranium holdings globally.