Initial Economic Assessment Validating Roughrider Project As Top Tier

CORPUS CHRISTI, TX - Uranium Energy Corp reported the filing of an initial assessment technical report summary that includes an economic analysis and mineral resource estimate for the Roughrider Project, located in Northern Saskatchewan, Canada.

Amir Adnani, President, and CEO stated, "This Initial Economic Assessment marks a pivotal milestone for Roughrider, validating it as a top-tier, high-margin operation with a clear path to development into a world-class mine and mill. The results underscore the strength of our 2022 decision to acquire Roughrider from Rio Tinto for $150 million, consistent with our strategy to acquire accretive assets at opportune points in the uranium price cycle.

Key competitive advantages that position Roughrider as an elite underground development project include: 1) High grade operation with 2.36% U3O8 Life of Mine feed grade. 2) One of the lowest capex profiles in Canada. 3) Location in the Eastern Athabasca Basin, where future development will benefit from proximity to power, roads, and the Points North Landing airport and construction facility.

Additionally, we see significant potential for further value creation as we advance the project through the prefeasibility stage, supported by recent exploration drill results and the discovery of the Roughrider North Deposit. Roughrider is poised to benefit from uranium and nuclear energy's growing prominence to address North America's rising electricity demand for safe, reliable, economic, and clean energy sources. Given UEC's capabilities as an established uranium producer, we are uniquely positioned to leverage our operational expertise and financial strength to advance and de-risk Roughrider, maximizing value for our shareholders, stakeholders, and rightsholders."