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Uranium Energy Corp Acquires Significant Uranium Exploration Database Covering Territory in New Mexico and Colorado

January 9, 2007

Uranium Database Inventory Continues to Grow to Industry-Leading 4.6 Million Feet of Drill Data

Austin, Texas, USA – Uranium Energy Corp (the “Company”) announces another significant addition to its uranium exploration database inventory for New Mexico and the Colorado/Utah portions of the Colorado Plateau.  The database consists of exploratory and development work compiled during the 1970s and 80s, including extensive data on significant prospects and projects in the following known uranium districts: Grants, San Juan Basin, Chama Basin, Moab, Lisbon Valley, Dove Creek, Slick Rock and Uravan.

This database includes: drilling and logging data from over 200,000 feet of uranium exploration and development drilling; resource evaluations and calculations; drill-hole locations and GT maps; competitor activity maps; as well as several dozen geological and project evaluation reports covering uranium projects in New Mexico, Colorado, Utah, Texas and California.  These comprehensive reports will enable Uranium Energy Corp geologists to quickly assess uranium potential in various districts and to identify key land parcels for acquisition.

Uranium Energy Corp’s library of uranium exploration and development databases is pre-eminent in the industry and contains over 4.6 million feet of drilling data on properties in 17 US states.

About Uranium Energy Corp

Uranium Energy Corp (URME: OTCBB) is a US-based junior resource company with the objective of becoming a near-term ISL uranium producer in the United States. The Company is developing its advanced-stage Goliad Project in South Texas, with ISL uranium production projected to begin in 2009. Uranium Energy Corp controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. For more information, please visit www.uraniumenergy.com.

Contact North America: Investor Relations, Uranium Energy Corp
Toll-Free Voice: (877) 676-7183 or (512) 721-1022
Fax: (512) 721-1023
E-mail: [email protected]
Website: www.uraniumenergy.com

Contact Europe: International Market Trend AG
Phone: +41.43.888.67.00
Fax: +41.43.888.67.09

Stock Exchange Information:
Frankfurt Stock Exchange Symbol: U6Z
Berlin Stock Exchange Symbol: U6Z
ISN: US9168961038

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.