Irigaray Processing Plant Increase Of Licensed Production Capacity To 4 Million Pounds U3O8 Per Year

CASPER,WY - Uranium Energy Corp (UEC) has received approval from the Wyoming Department of Environmental Quality, Uranium Recovery Program, to increase the licensed production capacity at its Irigaray Central Processing Plant to 4.0 million pounds of U3O8 annually.

The Irigaray Plant serves as the cornerstone of UEC's hub-and-spoke production strategy in the Powder River Basin of Wyoming. The facility supports four of UEC's fully permitted uranium in-situ recovery (ISR) satellite projects in the area, including the producing Christensen Ranch project. Engineering work is already underway and certain key equipment, including a filter press, has been acquired to increase the plant's output.

Amir Adnani, President and CEO, said, "The expansion of Irigaray's licensed annual capacity to 4.0 million pounds is a major achievement and comes at the perfect time with compelling industry drivers. The extraordinary growth in nuclear power in the U.S. is creating a new demand paradigm for uranium supply from stable domestic sources. Big tech companies, like Amazon, Google, Microsoft and Oracle, are making significant financial commitments for nuclear energy to provide the electricity needed to power data centers. This approach to invest directly into nuclear generation infrastructure reflects the realization that nuclear energy provides safe, highly reliable, economic and clean energy.

This latest milestone also reflects the hard work and dedication of the UEC team, who have been focused on expanding our capabilities at Irigaray and ramping-up production at Christensen Ranch. Looking ahead, the anticipated closing of the acquisition of Rio Tinto America's Wyoming assets will provide an industry leading, third production platform in the U.S. that will allow us to maximize the full potential of our Great Divide Basin projects."