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Uranium Energy Corp. (UEC) Announces Finalization of Drilling Plans for Nichols Project

Uranium Energy Corp. (UEC), with their corporate office in Austin, Texas, trades on the American Stock Exchange (AMEX) as part of the Industrial Metals and Minerals industry. They are a junior resource company dedicated to becoming a near-term ISR (in-situ recovery) uranium producer in the United States. ISR mining is a noninvasive, environmentally friendly mining process involving minimal surface disturbance. Uranium Energy Corp. controls one of the largest historical uranium exploration and development databases in America.

The company has acquired advanced uranium properties throughout the southwestern states by utilizing these databases. These databases, combined with a management team comprised of pre-eminent uranium mining and exploration professionals with years of collective experience, has UEC poised for further growth. The company recently received a Draft Mine Permit for their lead project, the Goliad ISR Uranium Project in south Texas.

Yesterday, Uranium Energy Corp. announced the finalization of drilling plans for their 100 percent-owned Nichols Project in Karnes County, Texas. The Nichols Project consists of 900 acres, and is in the heart of the historic Karnes County uranium-mining district. The company’s plans here are for 30 exploration holes for a total of approximately 18,000 feet of drilling. The Texas Railroad Commission, Division of Surface Mining has approved permits for this project. Development of this project aligns with the Uranium Energy Corp.’s plan to establish satellite facilities for their advanced Goliad ISR Uranium Project. The company is scheduling drilling at Nichols to commence next week.

The Karnes County region of the Nichols project is next to Goliad County, the site of their Goliad ISR Project. Texaco Uranium, now ChevronTexaco, originally explored the Nichols Project. Uranium Energy’s assessment of all factors shows an excellent opportunity for them to expand on the resource work performed by Texaco. Data reviewed, including Texaco data, and geophysical logs from oil wells in the immediate area, indicate that the historic mineralization lies within the Tertiary-age Jackson Formation.

Harry Anthony, Chief Operating Officer, stated, “Strategically, the Goliad ISR Project is central to a great number of uranium resource sites in South Texas. Nichols is the Company’s first project that may become a satellite development site with the capacity to feed material for processing at the central plant. This is one reason this drilling program is exciting for the Company. Several additional nearby sites are under review for near-term drilling.”

Uranium Energy Corp. continues to aggressively pursue exploration and development of all aspects of their uranium projects. They are always looking for uranium opportunities to further their company’s and shareholders’ growth. With their large historical uranium exploration and development database, they are moving forward with confidence to achieve their goals in the industry.

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