Uranium Energy Corp Advances Development of Burke Hollow and Palangana ISR Projects in South Texas

NYSE American: UEC

Highlights:

• The Burke Hollow In-Situ Recovery ("ISR") Project's Production Area-2 ("PA-2") has been established within the northern half of the project;
  
  
• Burke Hollow PA-2 hosts three major sub-roll units of uranium mineralization, ranging from 160 to 210 feet in depth and occurs within the Goliad Formation Lower A sand, ranging in thickness from 20 feet to over 50 feet, and;
  
  
• To date, 533 exploration and delineation holes totaling 232,655 feet have been drilled within Burke Hollow PA-2 area. The in-progress delineation drilling campaign is continuing with five contract drilling rigs;
  
  
• An SK-1300 technical report summary for Burke Hollow will be updated before the end of 2023 to reflect the drilling results;
  
  
• External and internal monitor well installation is to commence after completing all delineation drilling;
  
  
• At the past producing Palangana ISR project, a total of 30 development and delineation holes were recently completed within the fully permitted Production Area 4 ("PA-4").
  
  
• UEC's South Texas hub-and-spoke strategy is anchored by its fully licensed Hobson Processing Plant with licensed capacity of four million pounds U₃O₈ annually. Hobson will process uranium loaded resin recovered from satellite projects including Palangana and Burke Hollow ISR projects.

CORPUS CHRISTI, Texas, July 18, 2023 /CNW/ - Uranium Energy Corp (NYSE American: UEC) "UEC" or the "Company") is pleased to announce it has advanced exploration and delineation activities at its Burke Hollow and Palangana ISR projects in South Texas that are slated for further near-term development in preparation for uranium extraction. 

The Company has established its second Production Area at the Burke Hollow ISR Project located in Bee County and has also recently conducted delineation drilling at the past producing Palangana ISR Project in Duval County, Texas.

2023 Drilling program at UEC's Burke Hollow ISR Project, South Texas (CNW Group/Uranium Energy Corp)

UEC's Fully Operational and Past Producing Palangana Ion Exchange Facility, South Texas (CNW Group/Uranium Energy Corp)

UEC’s fully licensed Hobson Processing Plant, South Texas (CNW Group/Uranium Energy Corp)

Andy Kurrus, VP of Resource Development stated: "This is an important achievement in our continuing program to advance the Burke Hollow project towards uranium extraction. This ISR project is the largest Goliad Formation deposit ever discovered in the South Texas Uranium Trend and the largest discovery made in the last decade within the United States. We are pleased to have defined Production Area 2 and are looking forward to the continuation of the project's advancement as we prepare for the next phase of uranium extraction. The company will continue with delineation drilling at PA-2 with five drilling rigs, followed by the final design and installation of the PA-2 monitoring ring."

Palangana Production Area-4 Development Drilling 

The fully permitted and past producing Palangana project is being advanced for production re-start with development drilling at Production Area-4. The company completed 30 delineation holes which will guide future wellfield design and installation.

About Uranium Energy Corp

Uranium Energy Corp is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly In-Situ Recovery ("ISR") mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103

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SOURCE Uranium Energy Corp

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