Uranium Energy Corp Achieves Key Production Milestone with Drummed Uranium Concentrates at Irigaray Plant

CASPER, Wyo., Feb. 19, 2025 /PRNewswire/ - Uranium Energy Corp. (NYSE American: UEC), (the "Company" or "UEC") is pleased to announce a major operational milestone with the successful processing, drying and drumming of uranium concentrates at the Company's Irigaray Central Processing Plant ("CPP") in Wyoming. This follows the initial uranium production from UEC's Christensen Ranch In-Situ Recovery ("ISR") operations.

The uranium concentrates produced at the Irigaray CPP will be transported to the ConverDyn Conversion Facility in Metropolis, Illinois.

Amir Adnani, President and CEO, commented:

"We are six months into our phased ramp-up of operations and are excited to reach another milestone on schedule with the dried and drummed uranium concentrates. This marks the culmination of many years of planning and hard work from our entire team and is a testament to their expertise and dedication. UEC's fully permitted ISR assets provide a cost-efficient foundation for sustainable growth, positioning UEC as a key player in the expanding nuclear energy sector."

Mr. Adnani continued:

"As a debt-free and unhedged uranium producer, UEC has the financial strength and flexibility to advance production in alignment with market conditions. This allows us to scale efficiently and responsibly to meet the increasing demand for domestically sourced uranium. With energy security continuing as a national priority and the White House's newly established National Energy Dominance Council recognizing uranium as an 'amazing national asset,' this milestone represents a meaningful step in fortifying America's nuclear fuel supply chain. We expect the constrained availability of U.S. origin uranium to drive premium pricing, creating a significant competitive advantage for UEC as the largest and fastest-growing uranium company in the country."

About Uranium 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 In-Situ Recovery ("ISR") mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has three hub and spoke platforms in South Texas and Wyoming with a combined licensed production capacity of 12.1 million pounds U₃O₈ per year. These production platforms are anchored by licensed Central Processing Plants ("CPPs") and served by multiple U.S. ISR uranium projects. In August 2024, ISR operations began at the Christensen Ranch project in Wyoming, sending uranium loaded resin to the Irigaray CPP in Wyoming. The Company has diversified uranium holdings including: (1) a conventional pipeline of high-grade Canadian projects anchored by the worldclass Roughrider project; (2) one of the largest physical uranium portfolios of U.S. warehoused U₃O₈; and (3) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector. The Company's operations are managed by professionals with decades of hands-on nuclear fuel industry experience including the key facets of uranium exploration, development, mining and production.

Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

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SOURCE Uranium Energy Corp