Uranerz Announces Second Quarter 2014 Financial Results

CASPER, WYOMING--(Marketwired - Aug. 11, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX:URZ)(NYSE MKT:URZ)(FRANKFURT:U9E) has released its financial results for the quarter ended June 30, 2014 as filed with the United States Securities and Exchange Commission ("SEC") and in Canada with the Canadian securities administrators (on SEDAR).

During the second quarter of 2014 the Company commenced production of uranium concentrates at its wholly-owned Nichols Ranch mining unit located in the Powder River Basin of Wyoming, U.S.A. Following a period of commissioning and startup activities Uranerz began mining at the end of May producing approximately 20,000 pounds of uranium concentrate. Inventory is being accumulated for first sales in the latter part of the third quarter 2014. It is expected that the recently constructed Nichols Ranch processing facility will serve as a platform for the potential future development of the Company's other Powder River Basin uranium properties allowing enhanced economics for adjacent and satellite projects.

The financial information summarized below is in accordance with U.S. generally accepted accounting principles. As an exploration stage company without "proven or probable reserves", Uranerz expenses its construction and wellfield installation as mineral property expenditures.

During the three months ended June 30, 2014, operating expenditures incurred were $4,227,969. These expenditures include mine development costs incurred for the Nichols Ranch project totaling $1,965,480, all of which have been expensed pursuant to the SEC's Industry Guide 7.

Financial Position at
	June 30, 2014		December 31, 2013
Cash and Cash Equivalents	$	2,930,779	$	11,915,676
Working Capital	$	2,090,823	$	11,050,125
Total Assets	$	8,153,888	$	16,948,765
Long Term Debt	$	18,582,385	$	20,000,000
Stockholders' Deficit	$	14,717,055	$	6,661,967
Results of operations for the three months ended June 30th
	2014		2013
Net Loss	$	4,454,859	$	3,193,666
Basic and Diluted Net Loss Per Share	$	0.05	$	0.04
Net Cash Used in Operating Activities	$	3,942,761	$	2,521,440
Net Cash Used in Investing Activities	$	40,824		Nil
Net Cash Provided by Financing Activities	$	98,779	$	5,771,935

To review Uranerz' quarterly report on Form 10-Q for the period ended June 30, 2014, including its management discussion and analysis, please visit the Company's website at www.uranerz.com, the U.S. Securities and Exchange Commission website at www.sec.gov, or the Company's profile on SEDAR at www.sedar.com.