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Uranium Energy Corp Reports Positive Preliminary Economic Assessment on Slick Rock Project in Colorado

DGAP-News: Uranium Energy Corp. / Key word(s): Miscellaneous
Uranium Energy Corp Reports Positive Preliminary Economic Assessment
on Slick Rock Project in Colorado

22.04.2014 / 14:00

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Uranium Energy Corp Reports Positive Preliminary Economic Assessment on
Slick Rock Project in Colorado

Corpus Christi, TX, April 22, 2014 - Uranium Energy Corp (NYSE MKT: UEC,
the "Company" or "UEC") is pleased to announce that the Company has
received the results of a Preliminary Economic Assessment, summarized in
the technical report "Technical Report Preliminary Assessment Slick Rock
Project Uranium/Vanadium Deposit, San Miguel County, Southwest Colorado,
USA", dated effective April 8, 2014 (the "PEA"), prepared in accordance
with National Instrument 43-101 ("NI 43-101"), for the Slick Rock Project
(the "Project"). The Company intends to file the PEA on SEDAR on or about
April 24, 2014.

PEA Highlights:

- The PEA shows a robust project pre- tax Internal Rate of Return ("IRR")
of 33% and a post-tax IRR of 29% and pre-tax Net Present Value ("NPV"),
at a discount rate of 10%, of $43.8 million and a post-tax NPV of $31.9
million based on a uranium spot price of $60 per pound and a vanadium
spot price of $10 per pound.

- Drilling-to-date has outlined an Inferred Mineral Resource (at a 0.15%
eU3O8 cut-off) of 2,549k tons at an estimated 0.228% eU3O8 grade which
contains an estimated 11.6 million pounds of uranium oxide and 69.6
million pounds of vanadium oxide at an estimated 1.37% V2O5 grade.
These resources rank Slick Rock among the highest grade uranium and
vanadium deposits in the US.

- Initial capital for the Project is estimated at $21m and assumes
production of 100,000 tons per annum.

- The PEA is based on the projected sale of mined product to the White
Mesa mill located in Blanding, Utah, and assumes operating costs of
$67.78 per ton.

- Production of uranium and vanadium, estimated in the PEA, average
438,000 pounds and 2.6 m pounds per annum, respectively, for a total
production of 7.4 m pounds uranium and 44.3 m pounds of vanadium over a
21 year life of mine.

President and CEO Amir Adnani stated, "We are very pleased to reach this
important milestone for the Slick Rock Project, which is just one of five
conventional uranium properties we have in the Colorado Plateau. The PEA
shows robust economics for the project which is capable of delivering
meaningful uranium and vanadium production over a long mine life.
Production in South Texas from our hub-and-spoke platform remains our top