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Uranium Energy Corp Appoints Experienced Mine Developer Curtis O. Sealy As Vice President of Production

February 1, 2007

Appointment Further Strengthens Operational Credentials as Development in South Texas Proceeds

Austin, Texas, USA – Uranium Energy Corp announces the appointment of Curtis O. Sealy as Vice President of Production.  Mr. Sealy is a registered professional engineer who has 40 years experience designing and constructing mines and other large-scale engineering projects internationally.  His most recent 20 years have been spent with uranium mining and development companies.

Mr. Sealy has broad experience designing, developing, constructing and providing quality control/quality assurance for large-scale engineering projects, including mines, petrochemical facilities, dams, harbor works, landfills, groundwater and surface reclamation and many other projects.  He is a recognized expert on earth structures and ground improvement techniques, and has authored numerous papers in his field of expertise.

Mr. Sealy spent 17 years with Umetco Minerals Corp, a subsidiary of Union Carbide, and a large uranium producer in Wyoming, Colorado, and Utah, where he managed all aspects of regulatory compliance and environmental remediation.  More recently, he served as Vice President of Environmental and Regulatory Affairs for Energy Metals Corp., a uranium exploration and development company.

Harry Anthony, Chief Operations Officer, said, “The addition of Mr. Sealy to our management team opens new opportunities for the Company. His extensive geotechnical engineering knowledge coupled with his impressive experience in mining operations and reclamation further strengthens the solid foundation of technical expertise in the Company.” 

About Uranium Energy Corp

Uranium Energy Corp (URME: OTCBB) is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States.  The Company is developing its advanced-stage Goliad Project in South Texas, with ISR 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: (866) 748-1030
Phone: (604) 682-9775
Fax: (604)  682-3591
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.