Uranium Energy is pleased to announce that it has now completed the acquisition of a South Texas uranium database package (the “Database”) from Uranium One. Please see the Company’s news release dated August 31, 2011 which provides specific details on the acquired data, as well as the history of the Database.

Uranium Energy has issued 159,236 common shares of the Company at a price of $3.14 and has paid $400,000 in cash to complete the purchase of this strategic database which will significantly advance the Company’s ongoing exploration efforts in South Texas.

The Database is an evaluation of the uranium potential within the Goliad Formation located along the South Texas Uranium Belt, an area extending from south of Houston to the Mexican border. The Company’s operating Hobson in-situ recovery processing facility is situated within the South Texas uranium belt and its Palangana, Goliad, Salvo and Nichols projects are specifically located along the Goliad Formation.

UEC is incorporating this Database and the associated acquisition and exploration targets into its ongoing efforts to develop additional uranium sources for processing at the Hobson plant. The Database contains over 2.8 million feet of drilling results and 40 uranium targets that the Company plans to evaluate.

This database acquisition fits into the Company’s strategy of targeting properties for acquisition that have already been the subject of significant exploration and development by senior energy companies in the past.

The shares of common stock of UEC issued under our agreement with Uranium One have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

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