CORPUS CHRISTI, Texas,
Nov. 11, 2020 /CNW/ - Uranium
Energy Corp. (NYSE American: UEC) ("UEC" or the "Company")
is pleased to report the Senate Committee on Appropriations has
released drafts of fiscal year 2021 funding measures and
subcommittee allocations that include $150
million for the U.S. Uranium Reserve
(https://bit.ly/3ljJUj8). Senate Appropriations Committee Chairman
Richard Shelby's statement noted:
"By and large, these bills are the product of bipartisan
cooperation among members of the committee."
The U.S. Uranium Reserve funding is outlined in the Energy and
Water Development Subcommittee Bill highlights
(https://bit.ly/3ndGIX8) as:
- "Uranium Reserve Program – $150
million to initiate the program, the same as the budget
request.
The proposed funding level is split between Energy & Water's
Nuclear Infrastructure provisions ($120
million) and Defense Non-proliferation provisions
($30 million). The bill, if passed
into law will provide full funding for the Department of Energy
(DOE) to implement a program for the domestic Uranium Reserve."
UEC CEO and President, Amir
Adnani stated: "We applaud this historic bipartisan action
which moves us one step closer to funding and implementation of the
U.S. Uranium Reserve. We are optimistic the next step of House and
Senate conferencing, will go smoothly and result in a final bill
before the end of the year. If passed, this bill will enable DOE to
begin the funding required to stimulate growth in the domestic
uranium mining industry. The U.S. nuclear industry provides about
55% of the nation's carbon-emission free electricity, with the
worlds' largest reactor fleet of 96 operable reactors.
With the largest U.S. resource base of fully permitted and
low-cost In-situ recovery projects in Texas and Wyoming, UEC is ideally positioned to be the
leader in a resurgence of domestic uranium mining."
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. In South
Texas, the Company's hub-and-spoke operations are anchored
by the fully-licensed Hobson Processing Facility which is central
to the Palangana, Burke Hollow and Goliad ISR projects. In
Wyoming, UEC controls the Reno
Creek project, which is the largest permitted, pre-construction ISR
uranium project in the U.S. Additionally, the Company controls a
pipeline of uranium projects in Arizona, New
Mexico and Paraguay, a
uranium/vanadium project in Colorado and a large, high-grade
ferro-titanium project in Paraguay. The Company's operations are managed
by professionals with a recognized profile for excellence in their
industry, a profile based on many decades of hands-on experience in
the key facets of uranium exploration, development and mining.
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103
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activities, variations in the underlying assumptions associated
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availability of capital to fund programs and the resulting dilution
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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
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activities, title disputes or claims limitations on insurance
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factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
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not place undue reliance on forward-looking statements contained in
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Certain matters discussed in this news release and oral
statements made from time to time by representatives of the Company
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Federal
securities laws. Although the Company believes that the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that its
expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause
actual results to differ materially from those projected. Many of
these factors are beyond the Company's ability to control or
predict. Important factors that may cause actual results to differ
materially and that could impact the Company and the statements
contained in this news release can be found in the Company's
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The Company assumes no obligation to update or supplement any
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SOURCE Uranium Energy Corp