Uranium Energy Begins Production at Palangana's Production Area-3 in Texas

Uranium Energy Corp (NYSE: UEC, the "Company") is pleased to announce the receipt of a Production Area Authorization from the Texas Commission on Environmental Quality (the "TCEQ"), allowing for the commencement of operations at Production Area-3 of the Company's Palangana Mine located in South Texas.  This Authorization, the Company's third from the TCEQ, provides for in-situ recovery of uranium and extends the area of production at the Palangana Mine significantly to the southeast.  With wellfields and well control facilities in place already, operations at Production Area-3 has commenced while operations at Production Areas 1 and 2 are ongoing. President and CEO Amir Adnani stated, "This Authorization, in addition to the completion of permitting of the Company's Goliad project announced this week, is anticipated to significantly increase our uranium production in South Texas.  In addition, the Company is continuing to permit and develop Production Areas 4 and 5 at Palangana."