Uranium Energy Corp Announces Dismissal of Lawsuit



    NYSE-AMEX:   UEC

    AUSTIN, June 8 /CNW/ - Uranium Energy Corp (NYSE AMEX:   UEC, "the
Company") is pleased to announce that on June 5, 2009, the United States
District Court issued an order dismissing the lawsuit filed by Goliad County
commissioners against the Company. The lawsuit alleged infractions of the Safe
Drinking Water Act nearby to areas where the Company has conducted exploration
activities.
    The allegations had previously been investigated and found to be without
merit by the Texas Railroad Commission, the agency with sole jurisdiction over
uranium exploration in Texas. In 2007, the Commission stated, "...the agency's
investigation of your complaint has not revealed any practice or activity at
UEC's Uranium Exploration Permit 123 that is out of compliance...We consider
this investigation to be closed."
    In his June 5, 2009 order dismissing the case, the Judge stated that the
County's case failed to pass the threshold jurisdictional requirements, even
when considered in the light most favorable to the County. As the Judge noted,
the Texas Railroad Commission stated in an April 2007 letter to the County's
attorney that an agency hydrologist "...concluded from the available
information that no ground-water contamination has occurred as a result of the
drilling activities."
    The Judge concluded that "...the touchstone of Goliad County's SDWA (Safe
Drinking Water Act) claim is its allegation that UEC 'converted' the
exploratory boreholes into 'injection wells' and/or an 'injection
activity,'...the Court has concluded that no such conversion or injection
activity took place...."
    Originally, the County commissioners were joined in this failed suit by
local landowners, the Duderstadts. The Duderstadts voluntarily and
unconditionally withdrew from the case on May 1, 2009.
    Amir Adnani, president and CEO, stated, "The Company is very pleased with
this dismissal. The allegations had no merit, as recognized by the Texas
Railroad Commission prior to the filing of the suit. This case has not
hampered any of our exploration or permitting activities."
    All aspects of the permitting process at the Goliad ISR project continue
to make excellent progress. There are no lawsuits or other impediments to the
advancement of the Company's permitting or exploration activities.

    About Uranium Energy Corp

    Uranium Energy Corp (NYSE-AMEX:   UEC, "the Company") is a US-based
resource company with the objective of becoming a near-term ISR uranium
producer in the United States. Utilizing its extensive information library of
historic uranium exploration and development work, the Company has acquired
and is advancing uranium properties throughout the southwestern US. A Draft
Mine Permit was recently issued for the Company's lead project, the Goliad ISR
Uranium Project in South Texas. Operational management is comprised of
pre-eminent uranium mining and exploration professionals whose collective
experience in this industry gives the Company ongoing uranium mine-finding and
mine development expertise.

    
    Stock Exchange Information:

    NYSE-AMEX:   UEC
    Frankfurt Stock Exchange Symbol: U6Z
    WKN: AØJDRR
    ISN: US916896103
    

    Forward-Looking Statement Disclaimer

    Except for the statements of historical fact contained herein, the
information presented in this news release constitutes "forward-looking
statements" as such term is used in applicable United States and Canadian
laws. These statements relate to analyses and other information that are based
on forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning historical
mineral resource estimates should be viewed as forward-looking statements to
the extent that they involve estimates of the mineralization that will be
encountered if the property is developed. Any statements that express or
involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance are not
statements of historical fact and should be viewed as "forward-looking
statements". Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include, among
others, the actual results of exploration activities, variations in the
underlying assumptions associated with the estimation or realization of
mineral resources, the availability of capital to fund programs and the
resulting dilution caused by the raising of capital through the sale of
shares, accidents, labour disputes and other risks of the mining industry
including, without limitation, those associated with the environment, delays
in obtaining governmental approvals, permits or financing or in the completion
of development or construction activities, title disputes or claims
limitations on insurance coverage. Forward looking statements are made based
on management's beliefs, estimates and opinions on the date the statements are
made and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change, except as required by applicable law. Such forward-looking
statements reflect our current views with respect to future events and are
subject to certain risks, uncertainties and assumptions, including, the risks
and uncertainties outlined in our most recent financial statements and reports
and registration statements filed with the United States Securities and
Exchange Commission (the "SEC") (available at www.sec.gov) and with Canadian
securities administrators (available at www.sedar.com). Although the Company
believes that the beliefs, plans, expectations and intentions contained in
this news release are reasonable, there can be no assurance those beliefs,
plans, expectations or intentions will prove to be accurate. Investors should
consider all of the information set forth herein and should also refer to the
risk factors disclosed in the Company's periodic reports filed from
time-to-time with the SEC. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.





For further information:

For further information: North America: Investor Relations, Uranium
Energy Corp., Toll Free: (866) 748-1030, Fax: (512) 535-0832, E-mail:
info@uraniumenergy.com


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