Uranium Energy Corp Welcomes Mark Katsumata to the Company's Board of Directors

    AUSTIN, May 14 /CNW/ - Uranium Energy Corp (NYSE AMEX:   UEC; the
"Company") is pleased to announce the appointment of Mr. Mark Katsumata to its
board of directors.
    Mr. Katsumata is a Certified General Accountant in Canada with an
extensive background in both U.S. and Canadian accounting and regulatory
procedures specifically pertaining to mining. Mr. Katsumata will also serve on
the Company's Audit Committee as its Chairman. Erik Essiger earlier served as
the Company's Audit Committee Chairman and continues as a director.
    Since 1994, Mr. Katsumata has served as the chief financial officer/vice
president, finance for a number of publicly-listed companies, including
Denison Mines Corp, where he was responsible for managing all financial and
tax matters.
    Amir Adnani, president and CEO, stated, "The Company welcomes Mr.
Katsumata to its Board of Directors. His accounting and regulatory compliance
expertise will further enhance the Company's corporate governance mandate."

    About Uranium Energy Corp

    Uranium Energy Corp (NYSE 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

    Stock Exchange Information:

    New York Stock Exchange AMEX Symbol: UEC
    Frankfurt Stock Exchange Symbol: U6Z
    ISN: US916896103

    Forward-Looking Statement Disclaimer

    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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