Uranerz Announces Upsizing of Offering to US$12 Million

CASPER, WYOMING--(Marketwired - July 18, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX:URZ)(NYSE MKT:URZ)(FRANKFURT:U9E) is pleased to announce that due to demand, it has increased the size of its previously announced offering of units on July 16, 2014 (the "Offering") to raise gross proceeds of US$12 million consisting of 9,600,000 units of the Company at a price per unit of US$1.25 ("Units"). Each Unit will be comprised of one share of the Company's common stock ("Common Share"), and one half of one common share purchase warrant, with each whole warrant ("Warrant") exercisable to purchase one additional Common Share for a period of 30 months following the closing of the Offering at an exercise price of US$1.60, subject to adjustment and acceleration provisions. The Warrants will be transferable, however, the Company will not apply for listing of the Warrants on any securities exchange.

The Offering is led by Haywood Securities Inc. and Cantor Fitzgerald Canada Corporation (the "Lead Agents") on behalf of a syndicate of agents including H.C. Wainwright & Co., LLC, and Laurentian Bank Securities Inc. (the "Agents"). All offers of Units in the United States will be made by U.S. registered broker-dealers. H.C. Wainwright & Co., LLC will only be offering the Units in the United States.

The Company has been informed by the Lead Agents that the books are now closed. Closing of the Offering is anticipated to take place on July 25, 2014, subject to satisfaction of the conditions to closing set forth in an Agency Agreement, including receipt of approval of the NYSE MKT LLC and the Toronto Stock Exchange.

The Company anticipates that the net proceeds from the offering will be utilized to continue development and operations of mining facilities, including wellfields, at the Company's Nichols Ranch ISR Uranium Project. Additionally, proceeds will be used for working capital and other general corporate purposes.

The Units are being offered through the Agents pursuant to a prospectus supplement to the Company's effective shelf registration statement on Form S-3 (File No. 333-196686) previously filed with the Securities and Exchange Commission and pursuant to a prospectus supplement to the Company's shelf prospectus filed with certain Canadian regulators in each of the provinces of Canada, except Quebec, pursuant to the multi-jurisdictional disclosure system. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov, from the System for Electronic Document Analysis and Retrieval (SEDAR) website at http://www.sedar.com or from the Lead Agents at: