Uranium Energy Corp's Radium Mountain Project is approximately 24 miles from Naturita, Colorado and is located T45N R18W, NM Principal Meridian, in all or parts of Sections 9, 10, 15, and 16 in San Miguel and Montrose Counties. The Project consists of 48 Hot Sauce claims in one contiguous claim block. The Project covers 979 acres and is adjacent to or surrounds the Department of Energy's (DOE) Wedding Bell Mountain and Radium Mountain lease tracts WM-17(1) and WM-17(2). The Salt Wash Member of the Morrison Formation is approximately 250-400 feet thick in the Wedding Bell and Radium Mountain area. The Salt Wash is composed of white to grey, light-buff and rusty-red, fine to medium-grained, cross-bedded, lenticular sandstone interbedded with red, green, or light-gray shale and mudstone. The Salt Wash contains several major sandstone ledges, ranging from 20 to 150 feet in thickness and separated by clay nd shale layers. The uppermost thick, continuous sandstone lens is commonly the most highly mineralized of the sequence. The largest Salt Wash uranium deposits are near the edges of thick sandstone where a transition to sandy mudstone takes place, or in the scours and on the flanks of paleostream channels. Mineralized pods average in the range of 3,000 tons to as much as 100,000 tons taken from a single cluster of deposits. Locally, deposits attain a thickness of 30 feet, but 2 to 9 feet thicknesses are most common. Minerals are carnotite, tyuamunite, and brightly colored vanadates, vanadium hydromica or clay. Unoxidized mineralization is commonly black, consisting or uraninite, coffinite, montroseite and vanadium hydromica or clay. The predominate mineral trend is N 75°-80° E.