Uranium Energy Corp (NYSE: UEC)
Announced that it has filed a Technical Report Summary on EDGAR disclosing updated mineral resources for the Company’s Wyoming ISR Hub and Spoke Project.
|Stage||Production + development|
|Market cap||US $1.22 Billion @ $4.26|
|Location||Texas, Wyoming, USA, Paraguay|
Uranium Energy Corp Expands Wyoming Hub and Spoke ISR Platform with Additional Resources and Filing of S-K 1300 Report
Corpus Christi, TX, September 15, 2022 – Uranium Energy Corp (NYSE American: UEC; “UEC” or the “Company”) is pleased to announce that it has filed a Technical Report Summary (“TRS”) on EDGAR disclosing updated mineral resources for the Company’s Wyoming ISR Hub and Spoke Project (the “Project”).
- As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K (“S-K 1300”);
- S-K 1300 was adopted by the Securities and Exchange Commission (the “SEC”) to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards; and
- The mineral resource estimates set forth in this TRS for Charlie, Clarkson Hill, Nine Mile and Red Rim have not previously been reported under the S-K 1300 format. The remaining resources were reported on April 5, 2022.
The TRS was prepared under S-K 1300 and was filed on September 14, 2022 with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a “Material Document” filed on September 14, 2022. The TRS was prepared on behalf of the Company by WWC Engineering, of Sheridan, Wyoming.
- This filing marks the largest S-K 1300 uranium resources reported in the United States combining UEC’s recently acquired Uranium One Americas, Inc. (“U1A”) and Anfield Energy assets together with the Reno Creek Project.
- The Irigaray Processing Plant is the Hub central to eleven satellite In-Situ Recovery (ISR) projects across the Powder River Basin (“PRB”) and Great Divide Basin (“GDB”), four of which are fully permitted, including Reno Creek.
- Total Measured and Indicated Resources disclosed across the assets are 66,198,200 lbs. with 58,460,000 tons grading 0.069% U3O8(not weighted).
- Total Inferred Resources disclosed across the assets are 15,053,700 lbs. with 10,859,000 tons grading 0.064% U3O8.
- Combined with South Texas Hub & Spoke ISR Platform, UEC controls over 75,000,000 lbs of Measured and Indicated resources and 25,000,000 lbs of Inferred resources
Amir Adnani, President and CEO, stated:
“UEC’s Wyoming Hub and Spoke Platform holds the largest resource base of fully permitted In-Situ Recovery (“ISR”) projects in the United States.
“Today’s resource report is the culmination of multiple acquisitions we’ve successfully completed since 2017 to fulfill a strategic objective of U.S. uranium leadership.
“Wyoming is an integral component of the overall strategy as a proven mining-friendly jurisdiction with over 230 million pounds of historic production and containing the largest in-situ recovery amenable uranium deposits in the Western Hemisphere.
“UEC’s ~66M pounds of measured and indicated resources and the ~15M pounds of inferred resources outlined in the TRS filing represent one of the largest S-K 1300 resource summaries completed and filed to date.
“These considerable permitted Wyoming resources, coupled with our Texas permitted projects, positions UEC to lead the resurgence of U.S. uranium production.
“At a time of unprecedented geopolitical events and risks, fully permitted and low-cost ISR projects in the United States will be critical to reducing dependency on Russia while strengthening national and energy security interests of America.”
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