Ur-Energy Starts Lost Creek Construction

LITTLETON, Colo., Oct. 31, 2012 /CNW/ - Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) 
 ("Ur-Energy" or the "Company") is pleased to announce the initiation of 
construction activities at its wholly-owned Lost Creek ISR uranium project in 
Sweetwater County, Wyoming.  A ground-breaking ceremony held in early October 
marked the occasion.  Company directors, officers and employees assembled at 
the future location of the Lost Creek process plant to launch the next phase 
of development for the project. 
(Photo: http://photos.prnewswire.com/prnh/20121031/LA03666) 
(Logo: http://photos.prnewswire.com/prnh/20110913/LA67628LOGO) 
The Company chose a Wyoming–based company, Groathouse Construction, Inc., to 
serve as general contractor to build the processing plant, access roads and 
auxiliary facilities.  Groathouse crews are presently preparing to pour the 
foundation concrete at the plant site.  Construction of the main access road 
to the facility is nearing completion.  Production well installation has 
commenced in the first mine unit with three development drill rigs. The 
Company has also mobilized contractors to the site for the installation of 
power lines, fences and two deep disposal wells. 
"Thanks to the advanced preparation of the Ur-Energy team, we have been able 
to initiate construction without delay following receipt of our final 
regulatory approval earlier this month," stated Wayne Heili, President and CEO 
of Ur-Energy. "We anticipate that the mine will play an important role in 
south-central Wyoming's economic development and employment opportunities 
throughout the next several years and are pleased to have the opportunity to 
utilize well qualified Wyoming-based contractors and sub-contractors." 
Ur-Energy is also pleased to announce the hiring of Mr. Michael Lueders as the 
Mine Manager for the Lost Creek ISR project.  Mr. Lueders is a 31 year in-situ 
uranium mining professional with a proven record of success. His uranium 
mining employment history includes management and operations roles at SXR 
Uranium One, Inc.; Everest Exploration, Inc.; Power Resources; Everest 
Minerals Corporation; and Atlantic Richfield/U.S. Steel.  He is an expert in 
all aspects of in-situ recovery uranium mining, including start-up operations, 
mine planning, wellfield construction & operation, reclamation, safety 
compliance, staffing, supervision, training, and business development. Most 
recently, Mr. Lueders was Director of Operations for Iktorhoral Mining, LLC in 
Ulaanbaatar, Mongolia. 
In welcoming Mr. Lueders, Ur-Energy Vice President Operations, Steve Hatten, 
stated, "Mike comes to Ur-Energy with an extensive background in in-situ 
recovery uranium mining that dates back to the early years of the technology.  
With his outstanding reputation in the industry, we expect that he will 
attract top quality talent to his Lost Creek ISR team.  Knowing that Mike is a 
no-nonsense producer and a safety conscious operator, I am confident he will 
quickly establish these important values during the construction, start up, 
and operation of the Lost Creek ISR project." 
About Ur-Energy Ur-Energy is a junior uranium mining company currently 
constructing its first in-situ recovery (ISR) uranium mine in south-central 
Wyoming at its fully licensed and permitted Lost Creek project.  The Lost 
Creek processing facility will have two million pounds per year capacity and 
is anticipated to be in production mid-year 2013.  Ur-Energy engages in the 
identification, acquisition, exploration, and development of uranium projects 
in the United States and Canada.  Shares of Ur-Energy trade on the Toronto 
Stock Exchange under the symbol "URE" and on the NYSE MKT under the symbol 
"URG". Ur-Energy's corporate office is located in Littleton, Colorado; its 
registered office is in Ottawa, Ontario.  Ur-Energy's website is 
Rich Boberg, Director, IR/PR                                                                                     Wayne 
Heili, President and CEO 
303-269-7707                                                                                                     307-265-2373 
866-981-4588                                                                                                     866-981-4588 
rich.boberg@ur-energyusa.com  wayne.heili@ur-energyusa.com 
This release may contain "forward-looking statements" within the meaning of 
applicable securities laws regarding events or conditions that may occur in 
the future (e.g., timing of construction and commencement of production at 
Lost Creek) and are based on current expectations that, while considered 
reasonable by management at this time, inherently involve a number of 
significant business, economic and competitive risks, uncertainties and 
contingencies. Factors that could cause actual results to differ materially 
from any forward-looking statements include, but are not limited to, capital 
and other costs varying significantly from estimates; failure to establish 
estimated resources and reserves; the grade and recovery of ore which is mined 
varying from estimates; production rates, methods and amounts varying from 
estimates; delays in obtaining or failures to obtain required governmental, 
environmental or other project approvals; inflation; changes in exchange 
rates; fluctuations in commodity prices; delays in development and other 
factors. Readers should not place undue reliance on forward-looking 
statements. The forward-looking statements contained herein are based on the 
beliefs, expectations and opinions of management as of the date hereof and 
Ur-Energy disclaims any intent or obligation to update them or revise them to 
reflect any change in circumstances or in management's beliefs, expectations 
or opinions that occur in the future. 
AP PhotoExpress Network: PRN10 
PRN Photo Desk, photodesk@prnewswire.com 
SOURCE: Ur-Energy Inc. 
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CO: Ur-Energy Inc.
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