Uranium Energy Corp Commences Production at Palangana's Production Area-3 in South Texas

 Uranium Energy Corp Commences Production at Palangana's Production Area-3 in
                                 South Texas

PR Newswire

CORPUS CHRISTI, TX, Dec. 7, 2012

NYSE MKT Equities Exchange Symbol - UEC

CORPUS CHRISTI, TX, Dec. 7, 2012 /PRNewswire/ - Uranium Energy Corp (NYSE MKT:
UEC, the "Company") is pleased to announce the receipt of a Production Area
Authorization from the Texas Commission on Environmental Quality (the "TCEQ"),
allowing for the commencement of operations at Production Area-3 of the
Company's Palangana Mine located in South Texas. This Authorization, the
Company's third from the TCEQ, provides for in-situ recovery of uranium and
extends the area of production at the Palangana Mine significantly to the
southeast. With wellfields and well control facilities in place already,
operations at Production Area-3 has commenced while operations at Production
Areas 1 and 2 are ongoing.

President and CEO Amir Adnani stated, "This Authorization, in addition to  the 
completion of permitting of the Company's Goliad project announced this  week, 
is anticipated  to  significantly increase  our  uranium production  in  South 
Texas.  In  addition,  the  Company  is  continuing  to  permit  and  develop 
Production Areas 4 and 5 at Palangana."

About Uranium Energy Corp

Uranium Energy  Corp  is  a U.S.-based  uranium  production,  development  and 
exploration company operating  North America's newest  emerging uranium  mine. 
The Company's  fully  licensed and  permitted  Hobson processing  facility  is 
central to all of its projects in South Texas, including the Palangana in-situ
recovery mine, which  has recently  expanded its initial  production, and  the 
Goliad  in-situ  recovery  project,  which  is  now  fully  permitted  and  in 
construction. 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.

Stock Exchange Information:
Frankfurt Stock Exchange Symbol:U6Z

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information
presented in  this news  release constitutes  "forward-looking statements"  as 
such term  is  used in  applicable  United  States and  Canadian  laws.  These 
statements relate  to  analyses  and  other  information  that  are  based  on 
forecasts of future  results, estimates  of amounts not  yet determinable  and 
assumptions of  management.  Any  other statements  that  express  or  involve 
discussions  with  respect  to  predictions,  expectations,  beliefs,   plans, 
projections, objectives, assumptions or  future events or performance  (often, 
but not always, using words or phrases such as "expects" or "does not expect",
"is expected", "anticipates" or "does not anticipate", "plans, "estimates"  or 
"intends", or stating that certain actions, events or results "may",  "could", 
"would", "might" or "will" be taken, occur or be achieved) are not  statements 
of historical fact and should be viewed as "forward-looking statements".  Such 
forward looking statements involve known and unknown risks, uncertainties  and 
other factors which may cause the actual results, performance or  achievements 
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.  Such 
risks  and  other  factors  include,  among  others,  the  actual  results  of 
exploration activities, variations  in the  underlying assumptions  associated 
with the estimation or realization  of mineral resources, the availability  of 
capital to fund programs and the  resulting dilution caused by the raising  of 
capital through the sale of shares, accidents, labor disputes and other  risks 
of the mining  industry including, without  limitation, those associated  with 
the environment,  delays  in  obtaining  governmental  approvals,  permits  or 
financing or  in the  completion of  development or  construction  activities, 
title disputes  or  claims limitations  on  insurance coverage.  Although  the 
Company has attempted to  identify important factors  that could cause  actual 
actions, events  or  results to  differ  materially from  those  described  in 
forward-looking statements, there  may be  other factors  that cause  actions, 
events or results not to be  as anticipated, estimated or intended. There  can 
be no  assurance that  such statements  will prove  to be  accurate as  actual 
results and future events  could differ materially  from those anticipated  in 
such statements.  Accordingly,  readers should  not  place undue  reliance  on 
forward-looking statements contained in this news release and in any  document 
referred to in this news release.

Certain matters discussed in this news  release and oral statements made  from 
time to time by representatives of the Company may constitute  forward-looking 
statements within the meaning of the Private Securities Litigation Reform  Act 
of 1995 and the  Federal securities laws. Although  the Company believes  that 
the expectations reflected in such  forward-looking statements are based  upon 
reasonable assumptions, it can give no assurance that its expectations will be
achieved. Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially from  those 
projected. Many of these factors are  beyond the Company's ability to  control 
or predict.  Important  factors  that  may  cause  actual  results  to  differ 
materially and that could impact the  Company and the statements contained  in 
this news release can  be found in the  Company's filings with the  Securities 
and Exchange Commission. For forward-looking statements in this news  release, 
the Company  claims the  protection  of the  safe harbor  for  forward-looking 
statements contained in the Private Securities Litigation Reform Act of  1995. 
The Company assumes no obligation to update or supplement any  forward-looking 
statements  whether  as  a  result  of  new  information,  future  events   or 
otherwise. This press release  shall not constitute an  offer to sell or  the 
solicitation of an offer to buy securities.

Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free:(866) 748-1030
Fax:(361) 888-5041

SOURCE Uranium Energy Corp


Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free:(866) 748-1030
Fax:(361) 888-5041
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