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Uranium Energy Corp Makes New Appointments, Expands Top Management

January 5, 2011

  • Director Mark Katsumata, Former Denison CFO/VP-Finance, Appointed as New CFO
  • David Kong Appointed to Board of Directors
  • CFO Pat Obara Appointed as Vice President-Administration

Corpus Christi, TX – January 05, 2011 - Uranium Energy Corp (NYSE-AMEX: UEC, the “Company”) is pleased to announce three new appointments to top management and to the Board of Directors, effective immediately. Director Mark Katsumata is appointed as the new Chief Financial Officer. David Kong is joining the Board of Directors to replace Mr. Katsumata. Pat Obara, the Company’s Chief Financial Officer for the last four years, is appointed as Vice President–Administration.

As VP-Administration, Mr. Obara now has senior responsibilities over the Company’s continued expansion. Mr. Katsumata, having earlier served as CFO and VP-Finance for mining companies including Denison Mines Corp., an NYSE AMEX/TSX-listed uranium producer, and having served the last 18 months as a Company director, is ideally positioned to assume the new CFO responsibilities as the Company is now a uranium producer. Concurrent with Mr. Katsumata’s appointment, he has resigned as a member of the Company’s Board of Directors and as Chairman of the Audit Committee.

Replacing Mr. Katsumata on the Board of Directors and as Chairman of the Audit Committee is David Kong, a highly qualified Chartered Accountant and a Certified Public Accountant with over 35 years of experience as an auditor of public companies, the majority in the mining industry.

On Mr. Obara’s appointment, Amir Adnani, President and CEO, stated: “Speaking for the whole team here, we are grateful for Pat’s dedication and his brilliant service as the Company’s CFO. We are looking forward to his performance with broadened duties in his new role as VP-Administration.”

On Mr. Katsumata’s appointment, Mr. Adnani stated: “We are pleased to have Mark join our management team.  Now that the Company is producing uranium, his extensive experience with mining companies, including his financial and operational experience gained while at Denison, is a significant benefit and resource.  Mark’s familiarity with the Company as a director and as Audit Committee Chair for the past year and a half will provide for a smooth transition to his new role as CFO.”

On Mr. Kong’s appointment, Mr. Adnani stated: “We welcome David to the Board. He brings decades of auditor experience as our new Audit Committee Chair.  David’s business contacts in China and understanding of its languages and business customs will be of tremendous benefit to the Company.”

Mark Katsumata is a Certified General Accountant with 20 years of experience related to the mining industry.  Over the last 15 years, Mr. Katsumata has served as a CFO and VP- Finance for a number of NYSE AMEX, TSX and TSX-Venture mining companies with operations worldwide, including two years as CFO/VP-Finance of Denison Mines Corp. Most recently, he has been consulting for public mining companies providing corporate finance, strategic planning and regulatory compliance services.

David Kong is a Chartered Accountant and Certified Public Accountant. He most recently served as a partner of Ernst & Young LLP from 2005 to 2010.  At Ernst & Young, he led its Chinese market practice in Canada, focused on serving Canadian public companies doing business in China and Chinese public companies listed on North American stock exchanges.  He earlier served as a partner of Ellis Foster, Chartered Accountants of Vancouver, British Columbia from 1982 to 2004. He is a director of several mining companies.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium production, development and exploration company operating North America’s newest uranium mine. The Company’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which has just initiated production, and the Goliad in-situ recovery project which has been granted its Mine Permit and is in the final stages of mine permitting for production.  The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: [email protected]

Stock Exchange Information:
Frankfurt Stock Exchange Symbol: U6Z
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.  Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.  'This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.