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Ur-Energy's Lost Creek Project Now Fully Permitted Receives Record of Decision from BLM

Ur-Energy (NYSE: URG) is pleased to announce the receipt of the Record of Decision (ROD) from the Bureau of Land Management (BLM) approving the Plan of Operations for the Company's Lost Creek uranium in-situ recovery (ISR) project in Wyoming, USA. The ROD represents the final regulatory step needed by the Company to initiate construction and production operations at the project site.

Facility construction will start this month at the Lost Creek Project site. During the next six to nine months, the Company will invest 30 to 40 million dollars in the project, located in Sweetwater County, Wyoming. First production from Lost Creek is forecast for early summer of 2013. The project is currently expected to produce more than seven million pounds of uranium yellowcake (U308) at a designed rate of one million pounds per year.

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