Uranium Energy Corp. announced the Company's plan to accelerate the steps required for a resumption of operations has been completed, enabling a faster restart at the Christensen Ranch in- situ recovery ("ISR") Project in Wyoming. The first Company project ("Spoke") to feed the Irigaray CPP Hub will be the Christensen Ranch Project.

The Company has been working steadily at Christensen Ranch since the beginning of this year to move out of care and maintenance and advance towards resuming production. Preparations for Resumption of Operations: Production readiness activities at Christensen Ranch have included, among others:Electrical testing of variable frequency drives, booster pumps, heaters, wellfield recovery pumps, satellite plant pumps and module buildings (header houses); Testing of programmable logic controllers, electronics, auto-valves and communications software for wellfield and plant operations; Testing of leak detection systems; Reattachment of wellfield piping in module buildings; Conversion of lighting in plants and wellfield module buildings to energy efficient LED; Assessment and repair of lines, piping, Ion Exchange ("IX") columns and valves in the satellite plant; IX resin cleaning and testing; Mechanical integrity testing of all wells to be used in resumption of operations; Trunklines pressurized and leak checked; and Preparation of wellfield patterns for operational testing. The orebody at Christensen Ranch ISR Project is divided into tracts of injection and recovery wells.

These tracts of wells are called "Mine Units" for production management. Each Mine Unit is then subdivided into groups of injection and recovery wells that are operated individually; these groups are called "Modules", also known as "header-houses", where each well is connected to a manifold that connects to pipelines that carry the recovery solutions to the satellite IX plant. Each Mine Unit typically contains 600 to 800 injection and recovery wells, depending upon the orebody configuration, with each Module having an average of 90 to 100 injection and recovery wells.

This configuration allows great flexibility in operations, allowing operation of all Modules in a Mine Unit, or just one Module, as well as individual wells in each Module, and as many Modules in the various Mine Units as desired. All wells are controlled electronically and can be started and stopped in the Module buildings and at the satellite plant operations control room. UEC has also conducted a series of operational tests in the Mine Units at Christensen Ranch.

Two Modules located in Mine Units 8 and 10 have had testing completed to establish operating parameters for each Mine Unit. UEC has operated these Modules by circulating recovered mining solutions to test injection and recovery systems while adding oxygen ("O2") and carbon dioxide ("CO2") to the injection stream at varying rates during the testing. The tests evaluated: Electronic communications between wells and plant (programmable logic controllers, wiring); O2 and CO2 addition rates for optimizing uranium recovery in previously mined areas; Status of leak detection systems at wellheads, Module buildings and trunklines; Well flow rates with a goal to adjust pump sizes to maximize flow and to determine the need for well stimulation processes, if required; and Information on potential requirements for all wellfield Modules for resumption of operations.

This work will allow UEC to rapidly resume operations in the existing and partially mined areas of Mine Units 7, 8 and 10. Installation of New Wellfield: The Company announced plans for the completion of well installation at Christensen Ranch in Modules 10-7 and 10-8 that will complete Mine Unit 10. Previous development drilling in Mine Unit 10 was terminated through six Modules (10-6).

The drilling and well installation program for Modules 10-7 and 10-8 consists of the completion of 180 recovery and injection wells and is planned to commence in August of this year. Although not required for initial startup, these new wellfield Modules will be installed and available for ramp up to meet production requirements.