Mr. D'Agostino and Admiral Caldwell will serve as Co-Chairs of the Council. The Council includes two former Admirals and two former heads of the National Nuclear Security Administration (the "NNSA"), the agency that recently issued a request for information seeking a long-term domestic supply of unobligated U.S.-origin uranium and conversion services.
Amir Adnani, President and CEO, stated:
"Defense demand for American nuclear fuel is growing quickly, with the Army's Janus Program bringing microreactors to U.S. military bases and the Navy's expanding fleet continuing to run on nuclear power. We are honored to have such esteemed national security leaders supporting the UEC team as we build an American supply chain, from mine to conversion, for critical defense missions."
The Honorable Tom D'Agostino, former Administrator of the NNSA and Co-Chair of UEC's National Security Advisory Council, stated:
"The NNSA's mission depends on a reliable, long-term supply of unobligated U.S.-origin uranium, mined and converted using American technology. UEC is uniquely positioned to deliver that supply, with the largest U.S. uranium resource base and a clear path into domestic conversion. I look forward to helping the Company serve this vital national mission."
Admiral James F. Caldwell, former Director of the Naval Nuclear Propulsion Program and Co-Chair of UEC's National Security Advisory Council, stated:
"For more than 75 years, naval nuclear power has provided the Navy's submarines and aircraft carriers with an incredible warfighting advantage, and that mission depends on secure, reliable, domestic fuel supply. As the Navy embarks on a future generation of nuclear-powered submarines, aircraft carriers, and potentially other warships, and as nuclear energy expands across the Department of War, a strong American uranium and conversion industry is essential to mission readiness. I am proud to help UEC build it."
The Honorable Spencer Abraham, former U.S. Secretary of Energy and Chairman of UEC's Board of Directors, added:
"As Secretary of Energy, I saw firsthand how America's nuclear deterrent, naval propulsion and civilian nuclear power all depend on secure domestic fuel supply. Today, domestic conversion is the essential link between American uranium and the billions of dollars being invested in new U.S. enrichment capacity. The leaders on this Council ran the very programs that rely on that supply, and their guidance will be invaluable as the nation expands it."
The Honorable Tom D'Agostino served more than 36 years in government. As Under Secretary of Energy for Nuclear Security and Administrator of the NNSA from 2007 to 2013, under Presidents George W. Bush and Barack Obama, he was responsible for the safety, security and effectiveness of the U.S. nuclear weapons stockpile, and he remains the longest-serving Administrator in the agency's history. Earlier, as Deputy Administrator for Defense Programs, he directed the Stockpile Stewardship Program across the national laboratories and production plants. As a former naval submarine officer, he also supported the SEAWOLF submarine propulsion program and was instrumental in initiating the Department of Energy's ("DOE") strategy for tritium production. He later led Fluor Corporation's government business as Business Group President, Mission Solutions.
Admiral James F. Caldwell retired from the U.S. Navy in 2024 after a distinguished 43-year career. As Director of the Naval Nuclear Propulsion Program from 2015 to 2024, he oversaw the safe, reliable operation of the Navy's nuclear-powered submarine and aircraft carrier fleet, which under his leadership achieved more than 15 million miles steamed on nuclear power and more than 800 reactor-years of safe operations. He also played a significant role in establishing the framework for Australia's acquisition of conventionally armed, nuclear-powered submarines under the AUKUS partnership. Earlier, he served as Naval Inspector General and commanded the U.S. Pacific Fleet Submarine Force. He currently serves on the boards of directors of Fluor Corporation and Entergy Corporation.
Admiral William K. Lescher had a distinguished 42-year career with the U.S. Navy, most recently as Vice Chief of Naval Operations, the second-highest-ranking officer in the Navy, from 2020 until his retirement in 2022, and previously as Deputy Chief of Naval Operations for Integration of Capabilities and Resources. He also served as the Joint Staff Deputy Director for Resources and Acquisition and Deputy Assistant Secretary of the Navy for Budget. He currently serves as a Board Director, Executive Advisor and Executive Coach at Boston Consulting Group.
The Honorable Neile Miller is a former Acting Administrator and Principal Deputy Administrator of the NNSA and former Acting Under Secretary of Energy for Nuclear Security under President Barack Obama. She also served as DOE's Budget Director and was a member of the Credit Review Board and the Risk and Credit Committees of DOE's Loan Programs Office. Previously, she served two tours at the White House Office of Management and Budget, focusing on nuclear security and nuclear energy programs.
About Uranium Energy Corp
Uranium Energy Corp is America's largest and fastest growing uranium company. The Company controls the largest uranium resource base and the most licensed production capacity in the United States, totaling approximately 12 million pounds per year across its Wyoming and South Texas platforms. In Canada, the Company controls one of the most extensive land and resource portfolios in the Athabasca Basin, Saskatchewan, anchored by the Roughrider Project. Through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp., UEC is pursuing domestic refining and conversion capabilities to further strengthen the U.S. nuclear fuel supply chain. UEC maintains a 100% unhedged uranium strategy, providing full exposure to uranium market fundamentals. The Company is managed by professionals with decades of experience across uranium exploration, development, production and fuel cycle infrastructure.
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISIN: US9168961038
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "anticipate," "intend," "plan," "will," "would," "estimate," "expect," "believe," "pending" or "potential." Forward-looking statements in this news release may include, without limitation, statements regarding: the Company's expectations regarding the impacts of governmental initiatives, the Company's expectations, plans and goals respecting UR&C and the Company's expectations regarding participation in government procurement and similar processes. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to differ materially. These risks and uncertainties may include, among others: proposed exploration and development activities may not produce anticipated results; variations in the underlying assumptions associated with the estimation or realization of mineral resources; the availability of necessary capital; the Company and UR&C may not be successful in government procurement and similar processes; 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; any deterioration in political support for nuclear energy or uranium mining; changes in government regulations and policies; changes in demand for nuclear power; any failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and the other risk factors set forth in the Company's most recent annual report on Form 10-K and its other filings with the Securities and Exchange Commission, available under its profile at www.sec.gov. Many of these factors are beyond the Company's ability to control or predict. 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. Any forward-looking statement speaks only as of the date on which it is made and the Company does not undertake any obligation to release publicly revisions to any forward-looking statement, to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement.
SOURCE Uranium Energy Corp
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