Uranium Energy Corp Completes Successful Hydrologic Tests and Files Production Area Authorization Application at the Goliad ISR Project

    The Company Reports Additional Permitting Advances

    American Stock Exchange Symbol - UEC
    Frankfurt Stock Exchange Symbol - U6Z

    AUSTIN, Sept. 8 /CNW/ - Uranium Energy Corp (AMEX:   UEC) is pleased to
announce the successful completion of hydrologic testing in the first
production area (PA-1) at the Company's Goliad ISR Uranium Project in South
Texas. The Company has now filed a Production Area Authorization (PAA)
Application with the Texas Commission on Environmental Quality (TCEQ). The
TCEQ earlier issued a Draft Mine Permit to the Company for the Goliad ISR
Project, as announced in June this year.
    A Production Area Authorization (PAA) addresses the hydrology of a
specific site directly. For permitting purposes, hydrologic testing and
geologic evaluation must prove that the production zone is connected
hydraulically with the monitor wells that encircle it. It also must prove that
the production zone is confined vertically, both above and below, by
substantial confining layers. The evaluation conclusively proved that these
conditions are in place at the site. Additionally, the PAA Application
provides groundwater quality analysis within the mine area taken from the 41
baseline and monitor wells that were installed and used in the aquifer

    Additional Advances

    Uranium Energy Corp is also pleased to announce that it has received
official acknowledgment from the Texas Parks & Wildlife Department (TPWD) that
the Company's proposed uranium recovery operation will not have an impact on
natural resources. In addition, the Company has received an approved U.S. Army
Corps of Engineers Jurisdictional Determination (JD) for the Goliad Project.
JDs are conducted to determine whether a project requires a permit issued
under Section 404 of the Clean Water Act. It was determined that a 404 Permit
is not required because there will be no adverse wetland impact from the
proposed operations.
    Both the favorable notification issued by the TPWD and the approved JD
will be included in the Company's Radioactive Material License Application
(RMLA) that will be filed with the TCEQ. The RMLA is approaching completion,
and the Company expects to submit the application in early October. The one
additional permit application that must be filed is a Class I Non-hazardous
Waste Disposal Well Permit Application. This application is also nearing
completion and the Company plans to file it with the TCEQ this month.
    Harry Anthony, Chief Operating Officer, stated, "We are pleased with the
progress of the permitting process at Goliad. We anticipate that all of the
required permit applications needed for production at the Goliad ISR Project
will be filed by mid-October."
    The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Clyde L. Yancey, P.G., Vice
President-Exploration for Uranium Energy Corp, a qualified person under NI

    About Uranium Energy Corp

    Uranium Energy Corp (AMEX:   UEC) 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:
    American Stock Exchange Symbol: UEC
    Frankfurt Stock Exchange Symbol: U6Z
    ISN: US916896103

    Safe Harbor Statement

    This news release contains forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as amended, and
Section 21E of the United States Securities and Exchange Act of 1934, as
amended. Statements in this news release, which are not purely historical, are
forward-looking statements and include any statements regarding beliefs,
plans, expectations or intentions regarding the future. These statements
involve risks and uncertainties which could cause actual results to differ
materially from those in the forward-looking statements contained herein. Such
risks and uncertainties may include, but are not limited to, the impact of
competitive products, the ability to meet customer demand, the ability to
manage growth, acquisitions of technology, equipment or human resources, the
effect of economic and business conditions, the ability to attract and retain
skilled personnel and factors outside the control of the Company. These
forward-looking statements are made as of the date of this news release, and
the Company assumes no obligation to update the forward-looking statements or
to update the reasons why actual results could differ from those projected in
the forward-looking statements. 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
United States Securities and Exchange Commission. 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:

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