Uranium Energy’s Technical Report for Shea Creek Project

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(Uranium Energy, 12.Jan.2023) — Uranium Energy Corp (NYSE American: UEC) filed a Technical Report Summary (“TRS”) on EDGAR disclosing updated mineral resources for the company’s Shea Creek Project. UEC indirectly owns 49.0975% of the Project and Orano Canada Resources owns the remainder and is the Project operator.

Highlights:

  • This TRS filing for Shea Creek is the first Saskatchewan resource estimate reported by the company since its acquisition of UEX Corporation (“UEX”) in August of 2022.
  • Combined Shea Creek resources of 95.63mn lb. U3O8 on a consolidated basis are comprised of 67.57mn lb. at 1.491% U3O8 in the indicated resource category and 28.06mn lb. at 1.015% U3O8 in the inferred category, respectively.
  • UEC attributable share of combined resources are 46.95mn lb. U3O8, comprised of 33.18mn lb. indicated and 13.78mn lb. inferred (Table 1).

Background:

  • As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K (“S-K 1300”);
  • S-K 1300 was adopted by the Securities and Exchange Commission (the “SEC”) to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards; and
  • The mineral resource estimate set forth in this TRS for the Shea Creek Project have not previously been reported under the S-K 1300 format.

The TRS was prepared under S-K 1300 and was filed on 11 January 2023 with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a “Material Document” filed on 11 January 2023. The TRS was prepared on behalf of the company by Mr. James Gray, P.Geo., of Advantage Geoservices Limited, Mr. David Rhys, P.Geo., of Panterra Geoservices Inc., and Mr. Chris Hamel, P.Geo., UEC’s Vice President Exploration, Canada.

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