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Uranium Energy Corp Welcomes Mark Katsumata to the Company’s Board of Directors

May 14, 2009

AUSTIN, TX - Uranium Energy Corp (NYSE AMEX: UEC; the “Company”) is pleased to announce the appointment of Mr. Mark Katsumata to its board of directors.

Mr. Katsumata is a Certified General Accountant in Canada with an extensive background in both U.S. and Canadian accounting and regulatory procedures specifically pertaining to mining. Mr. Katsumata will also serve on the Company’s Audit Committee as its Chairman. Erik Essiger earlier served as the Company’s Audit Committee Chairman and continues as a director.

Since 1994, Mr. Katsumata has served as the chief financial officer/vice president, finance for a number of publicly-listed companies, including Denison Mines Corp, where he was responsible for managing all financial and tax matters.

Amir Adnani, president and CEO, stated, “The Company welcomes Mr. Katsumata to its Board of Directors. His accounting and regulatory compliance expertise will further enhance the Company’s corporate governance mandate.”

About Uranium Energy Corp

Uranium Energy Corp (NYSE AMEX: UEC) is a US-based resource company with the objective of becoming a near-term ISR uranium producer in the United States.  Utilizing its extensive information library of historic uranium exploration and development work, the Company has acquired and is advancing uranium properties throughout the southwestern US. A Draft Mine Permit was recently issued for the Company’s lead project, the Goliad ISR Uranium Project in south Texas. Operational management is comprised of pre-eminent uranium mining and exploration professionals whose collective experience in this industry gives the Company ongoing uranium mine-finding and mine development expertise. 

Contact North America:  Investor Relations, Uranium Energy Corp.
Toll Free: (866) 748-1030       
Fax: (512)  535-0832
E-mail: [email protected]

Stock Exchange Information: 
New York Stock Exchange AMEX Symbol: UEC
Frankfurt Stock Exchange Symbol: U6Z
ISN: US916896103

Forward-Looking Statement Disclaimer

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.