Uranium Energy Corp Completes Filing of Final Permit Applications for the Goliad ISR Project in South Texas

Uranium Energy Corp announce that the Company has filed all permit applications for In-Situ Recovery of uranium at the Company’s flagship Goliad Project in South Texas. On December 1, Uranium Energy filed a Radioactive Material License Application (RMLA) and a Permit by Rule Application (PBRA) with the Texas Commission on Environmental Quality (TCEQ), the final two applications that needed to be filed.

Because uranium recovery projects require a number of authorizations, a recap of Uranium Energy’s permit applications and the status of each follows:

– Mine Permit – The draft mine permit was issued by TCEQ in June 2008, and is subject to further consideration by TCEQ. Approval of the other permits is needed before recovery operations can be initiated. – Production Area Authorization (PA-1) – The application was filed with TCEQ in September 2008, and is undergoing technical review. – Class 1 Non-hazardous Waste Disposal Well Applications – Two disposal well applications were filed with the TCEQ and the Railroad Commission of Texas (RCT) in late September. The RCT concluded its review of the applications in October 2008, and issued a determination that the Company’s waste disposal well(s) will not injure or endanger any known oil or gas reservoir. The RCT review is complete. The applications are presently undergoing technical review by the TCEQ. – Radioactive Material License Application – The application was filed on December 1, and is undergoing administrative review.

– Permit by Rule (PBR) – The application was filed on December 1. Because Goliad facilities will have only minimal air emissions, the project is expected to qualify for a PBR.

Uranium Energy Corp is a US-based resource company with the objective of becoming a near-term ISR uranium producer in the United States. Utilizing its extensive information library of historic uranium exploration and development work, the Company has acquired and is advancing uranium properties throughout the southwestern US. A Draft Mine Permit was recently issued for the Company’s lead project, the Goliad ISR Uranium Project in south Texas. Operational management is comprised of pre-eminent uranium mining and exploration professionals whose collective experience in this industry gives the Company ongoing uranium mine-finding and mine development expertise.