Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, had filed a technical report summary (“TRS”) on its Yuty project, which is located in Paraguay. Based on 543 drill holes, the report shows total disclosed indicated resource for the project is 8,962,000 pounds with 9,074,000 tons grading 0.049% U3O8 and total disclosed inferred resources being 2,203,000 pounds with 2,733,000 tons grading 0.040% U3O8. According to the announcement, UEC is now reporting all mineral resources in accordance with item 1302 of Regulation S-K, which was adopted by the U.S. Securities and Exchange Commission (“SEC”) to modernize mineral property disclosure requirements for mining registrants and to provide some alignment between mineral properties and current industry and global regulatory standards. The company noted that the mineral resource estimates outlined in the TRS have not previously been reported under the S-K 1300 format and that the Yuty project geology is considered amenable to low-cost, environmentally friendly in-situ recovery (“ISR”) mining methods. UEC operates the Yuty project through Transandes Paraguay S.A., its wholly owned subsidiary. The project includes 117,232 hectares in southeastern Paraguay and was explored extensively by Colorado-based Anschutz Corporation in the late 1970s and early 1980s. “We are very pleased with the update and conversion of our Yuty Project NI 43-101 resources into new SEC S-K 1300 resources,” said Uranium Energy vice president of exploration Clyde Yancey in the press release. “The roll front geology apparent in the Yuty Project is very similar to our South Texas and Wyoming projects and offers excellent low-cost, environmentally friendly ISR mining capability. While our near-term priorities remain focused on Texas and Wyoming ISR production platforms, Yuty presents attractive long-term value and potential which is a great fit for our technical capabilities. As the world pushes for clean, safe, reliable energy, more uranium will be needed to fuel its growth and we are confident the Yuty Project will be part of that equation.”
To view the full press release, visit https://ibn.fm/MwIGO
About Uranium Energy Corp.
Uranium Energy is America’s leading, fastest-growing uranium mining company listed on the NYSE American. UEC is a pure-play uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (“ISR”) mining uranium projects. The company has two production-ready, ISR hub-and-spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray processing plants. UEC also has seven U.S. ISR uranium projects with all major permits in place. Additionally, the company has other diversified holdings of uranium assets, including one of the largest physical uranium portfolios of U.S. warehoused U3O8; a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. 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. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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