CORPUS
CHRISTI, Texas, Nov. 17,
2022 /PRNewswire/ - Uranium Energy Corp (NYSE
American: UEC) (the "Company" or "UEC") is pleased to announce that
the Texas Commission on
Environmental Quality ("TCEQ") has approved the Company's
submission for a renewed and expanded radioactive material license
("RML") for its Hobson Central Processing Plant.
UEC's amended RML from the TCEQ increases the Hobson Processing
Plant's licensed production capacity to 4 million pounds of
U3O8 annually. This distinguishes the
plant as having the largest licensed capacity in Texas and the second largest in the United
States. The Hobson Plant anchors UEC's hub-and-spoke in-situ
recovery ("ISR") production platform in South Texas and will process uranium loaded
resin recovered from multiple satellite projects including the
Palangana and Burke Hollow ISR projects.
Amir Adnani, President and CEO
stated: "We continue to execute on our strategy of growing UEC's
leadership as a pure-play, un-hedged uranium supplier in
politically stable jurisdictions. Today's achievement increases and
advances our production capabilities in South Texas as we work towards the Company's
return to production. We are pleased with the TCEQ's approval
of a renewed and expanded licensed capacity at our Hobson Central
Processing Plant. Expanding the licensed production capability to
four million pounds per year is an important step in providing the
Company upward flexibility without permitting delays for our
South Texas hub-and-spoke
production platform."
UEC is also pleased to announce that baseline sampling at its
Burke Hollow project's first production area is complete, and that
the production area pump test has been conducted
successfully. Baseline sampling of all production area
monitor wells and a production area pump test are important steps
in finalizing the authorization for production within the already
approved Mine Permit area. Due to the success of these
endeavors, UEC is now one step closer to initiating production at
Burke Hollow and is also now preparing for the second production
area delineation drilling.
The Burke Hollow project is the newest and largest ISR
wellfield being developed in the U.S.
About Uranium Energy
Corp
Uranium Energy Corp is the fastest growing supplier of the fuel
for green energy transition to a low carbon future. UEC is
the largest, diversified North American focused uranium company,
advancing the next generation of low-cost, environmentally friendly
In-Situ Recovery (ISR) mining uranium projects in the United States and a pipeline of high-grade
conventional projects in Canada.
The Company has two production-ready ISR hub and spoke
platforms in South Texas and
Wyoming, anchored by fully
licensed and operational central processing plants. UEC also has
seven U.S. ISR uranium projects with all their major permits in
place. Additionally, the Company has diversified uranium holdings
including: (1) one of the largest physical uranium portfolios of
U.S. warehoused U3O8; (2) a major equity
stake in Uranium Royalty Corp., the only royalty company in the
sector; and (3) a pipeline of resource stage uranium projects. The
Company's operations are managed by professionals with decades of
hands-on experience in the key facets of uranium exploration,
development, and mining.
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AĆJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian
securities laws. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any other statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans, "estimates" or "intends", or stating
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include,
among others, the actual results of exploration activities,
variations in the underlying assumptions associated with the
estimation or realization of mineral resources, the availability of
capital to fund programs and the resulting dilution caused by the
raising of capital through the sale of shares, 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 on insurance coverage. Although the
Company has attempted to identify important 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. 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. 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
filings with the Securities and Exchange Commission. For
forward-looking statements in this news release, the Company claims
the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy
securities.
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SOURCE Uranium Energy Corp