Ur-Energy Completes Third Uranium Sales Agreement

Ur-Energy Inc.

announces that it has successfully negotiated its third agreement to supply uranium produced at its wholly-owned Lost Creek Project. The signing of this supply agreement marks the realization of Ur-Energy's strategic product marketing objective by which the Company has committed a pre-determined portion of the forecasted uranium production from Lost Creek into term sales agreements with U.S. based nuclear utilities. This agreement calls for total deliveries of 100,000 pounds of uranium concentrate per year in a multi-year schedule. The agreement specifies firm delivery prices in the low US$60 per pound range over its term.