Burke Hollow Project's Uranium Resources Triple, UEC Leads US ISR Mining

• Following a successful delineation drilling program since the last resource update on August 12, 2022, a new S-K 1300 technical report summary (the "TRS") increases the Burke Hollow Project's Measured and Indicated ("M&I") resources from 2,324,000 lbs U3O8 to 6,155,000 lbs and Inferred resources of 4,883,000 lbs U3O8..
• The Burke Hollow in-situ recovery ("ISR") Project continues to expand with three Production Areas defined to date, and ongoing exploration and delineation drilling along mineralized trends for additional resource growth.
• Total Texas Hub and Spoke platform's disclosed M&I resources are now 12,958,000 lbs, with 7,241,000 tons grading approximately 0.085% U3O8, and Inferred resources are now 9,948,100 lbs, with 4,356,000 tons grading approximately 0.120% U3O8.
•  This latest S-K 1300 TRS reconfirms UEC's position as America's leading ISR uranium company with its South Texas and Wyoming Hub & Spoke platforms having 79,156,000 lbs U3O8 of M&I resources and 25,002,000 lbs of Inferred resources.

CORPUS CHRISTI, Texas, June 13, 2024 /CNW/ - Uranium Energy Corp (NYSE:UEC) "UEC" or the "Company") is pleased to announce that it has filed a TRS on EDGAR disclosing updated mineral resources for the Company's Texas Hub and Spoke ISR platform (the "Platform") with an increase in resources at the Burke Hollow Project (the "Project").

Background:

• As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K ("S-K 1300");
• S-K 1300 was adopted by the Securities and Exchange Commission ("SEC") to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards;
• The mineral resource estimates set forth in this TRS are an update to previously reported Project resources under the S-K 1300 format; and
• The Project geology is considered amenable to low-cost, environmentally friendly ISR mining methods.

The TRS was prepared under S-K 1300 and was filed on June 12, 2024 with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a "Material Document" filed on June 12, 2024. The TRS was prepared on behalf of the Company by Western Water Consultants, Inc. d/b/a WWC Engineering, of Sheridan, Wyoming.