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Uranium Energy Corp Acquires Section 4 Project in New Mexico

February 13, 2008

New Project in New Mexico Includes Past Producing Section 4 Mines, Historically Operated by Homestake and Anaconda, and Expands Company’s Position in the Todilto Trend Play

AUSTIN, TX – February 13, 2008 – Uranium Energy Corp announces that it has acquired the Section 4 Project in Cibola County, New Mexico.  This strategically situated project is comprised of 36 lode claims covering 640 acres.  The project complements the Company’s recently acquired F-33 Project approximately 4 miles to the south, and on trend within the uraniferous Todilto Limestone. (For more information about the F-33 Project, please see the Company’s news release dated November 26, 2007). 

During the 1960’s and 1970’s, Section 4 was comprised of five mines operated by Homestake Mining (now Barrick Gold Corp) and Anaconda Company (now BP plc), as well as various independent miners. Uranium Energy is in possession of historic mine maps, drill logs, and drill location maps for all of Section 4.  Company geologists are currently mapping the historic mine workings and preparing an exploration permit.  Based on preliminary field observations, additional mineralization is present and appears to be extensive. 

Amir Adnani, president and CEO, stated, “Our technical team continues to make advances with the Company’s historic uranium data files, and the Section 4 Project is one such example. The Company’s quality acquisition initiatives are building a platform for near-term and ongoing growth in six states.”

The following table shows the historic names of the mines, production rates and grades at the Section 4 Project:



% U3O8














Red Bluffs








Company geologists have collected samples for submission to Hazen Research in Colorado for leach testing.  Homestake Mining’s historical drill logs indicate that a laterally continuous horizon is present underlying Section 4 at depths of 400 feet, exhibiting anomalous gamma activity within the Chinle Formation.  Future drilling programs will investigate and define this anomalous occurrence.

The Jurassic age Todilto Limestone -- host-rock for the uranium deposits of the Section 4 mines – was the source of approximately 2% of the total uranium produced from the Grants Mineral Belt historically.  The primary source of uranium is the overlying Jurassic age Morrison Formation.  The Todilto consists of two main units, a lower limestone unit that mostly ranges from 5 to 10 feet thick, but reaches a thickness of 40 feet at the Section 4 property; and an upper gypsum unit that ranges in thickness to 95 feet.  The gypsum unit is absent in outcrop at Grants, however it occurs in the subsurface north of Grants, and outcrops east of the Grants area.

The advantages of Todilto uranium mineralization over Morrison uranium mineralization in the Grants Mineral Belt are as follows:

i) the uranium mineralization occurs at the outcrop and can be readily accessed by underground mining techniques and/or shallow open pits;

ii) it is above the water table and therefore dry;

iii) it occurs at an overall higher grade than Morrison deposits;

iv) it contains the valuable bi-product commodity of vanadium.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Clyde L. Yancey, P.G., Vice President of Exploration for Uranium Energy Corporation, a qualified person under NI 43-101.

About Uranium Energy Corp

Uranium Energy Corp (AMEX: UEC) is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States.  The Company 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. 

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]

Stock Exchange Information: 
American Stock Exchange Symbol: UEC
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.