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Uranium Energy Corp Appoints Larry Wilbanks as Regional Geologist and Manager of Colorado Plateau Exploration and Development Program

Field Exploration Office to be Opened in Grand Junction, Colorado in July 2007

AUSTIN, TX – June 20, 2007 – Uranium Energy Corp (OTCBB: URME) (Frankfurt: U6Z) (Berlin: U6Z) announces that Mr. Larry Wilbanks, PG, has been appointed as Uranium Energy Corp’s Regional Geologist for the Colorado Plateau.  Mr. Wilbanks will also be responsible for establishing the Company’s newest uranium exploration office in Grand Junction, Colorado, to be opened in July 2007.  The ongoing expansion, exploration and development of the Company’s Colorado Plateau Projects will be managed from this office.

In the interest of diversifying its uranium property portfolio, the Company recently expanded its position in the states of Colorado and Utah, with the acquisition of its Colorado Plateau Projects.  (Please see news release of May 17, 2007 for details.)  At present, these projects consist of 5,000 acres of property, including the sites of 15 past producing uranium/vanadium mines, where 5 million pounds of uranium and 16 million pounds of vanadium were produced historically.  Property acquisition programs are ongoing in this prolific uranium-rich district. 

Larry Wilbanks is a career geologist with 28 years of experience in exploration, mining and environmental consulting.  Mr. Wilbanks has a great deal of relevant experience for this post, including, but not limited to, the development of regional uranium exploration programs, underground mine development and reserve calculations while employed by Atlas Minerals; as well as regulatory compliance and engineering design.  Mr. Wilbanks is registered as a professional geologist (PG) in four US states.  He received his Bachelor of Science in Geology from the Tennessee Technological University, and is also certified in various safety courses.

Amir Adnani, President and CEO of Uranium Energy Corp, made the following comments, “With the price of uranium escalating so rapidly, we feel that previously-uneconomic uranium mineralization is very suddenly becoming economically robust.  It is important that we use our drilling databases to acquire as much land as possible where uranium is most likely to exist.  Uranium Energy Corp is aggressively executing this strategy throughout the southwest United States, and our Colorado Plateau Projects are a characteristic example of this.”

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

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.