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Uranium Resources Announces Results of Rights Offering

  Uranium Resources Announces Results of Rights Offering

Business Wire

LEWISVILLE, Texas -- March 1, 2013

Uranium Resources, Inc. (NASDAQ: URRE) (URI) announced today the preliminary
results of its non-transferable rights offering, which expired at 5:00pm ET on
February 27, 2013. The Company estimates it will receive gross proceeds of
approximately $8.7 million, before expenses, from the shareholder rights
offering, which is to be used to satisfy a $5.0 million bridge loan and for
general working capital.

The rights offering is expected to result in the issuance of 3.4 million
additional shares of URI common stock, which would represent approximately 67%
of the maximum number of common shares available under the rights offering.
The results are based upon the subscription for shares received, and remain
subject to receipt of final subscription agreements for such shares in
accordance with the terms and conditions of the rights offering.

As part of the rights offering, Resource Capital Fund V L.P. (“RCF”) exercised
rights to purchase approximately 1.9 million shares of URI common stock
pursuant to the previously-announced standby purchase agreement between URI
and RCF. RCF will satisfy its $5.0 million subscription by offsetting the
purchase against $5.0 million in borrowings owed to it by URI under a bridge
loan agreement. Excluding such amount, the Company estimates that it will
receive net proceeds from the rights offering of approximately $3.7 million.

URI expects that the rights offering will close on March 5, 2013 to
accommodate those who exercised their rights using guaranteed delivery
procedures. The Company intends to mail new common shares acquired through the
rights offering to registered subscribers within 3 business days of the
scheduled closing of the offering. Shareholders participating in the
over-subscription privilege will be notified individually as to their
proportionate allocation of over-subscription shares after the results have
been determined.

This news release does not constitute an offer of any securities for sale or a
solicitation of an offer to buy any securities.

About Uranium Resources, Inc.

Uranium Resources Inc. explores for, develops and mines uranium. Since its
incorporation in 1977, URI has produced over 8 million pounds of uranium by
in-situ recovery (ISR) methods in the state of Texas. URI has over 206,600
acres of uranium mineral holdings and 152.9 million pounds of in-place
mineralized uranium material in New Mexico and an NRC license to produce up to
1 million pounds of uranium per year. URI has an additional 1.3 million pounds
of in-place mineralized uranium material in Texas and South Dakota. The
Company acquired these properties over the past 20 years along with an
extensive information database of historic drill hole logs, assay
certificates, maps and technical reports.

Uranium Resources routinely posts news and other information about the Company
on its website at www.uraniumresources.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,” “estimates,” “projects,” “anticipates,”
“believes,” “could,” and other similar words. All statements addressing
operating performance, events, or developments that the Company expects or
anticipates will occur in the future, including but not limited to statements
relating to the estimated proceeds and anticipated use of proceeds from the
Company’s rights offering, the level of participation in the rights offering
and the anticipated delivery date of shares purchased in the rights offering.
Because they are forward-looking, they should be evaluated in light of
important risk factors and uncertainties. These risk factors and uncertainties
include, but are not limited to, the finalization of receipt of funds, the
success of the current rights offering to raise additional capital and our
ability to raise additional capital in the future, spot price and long-term
contract price of uranium, the outcome of negotiations with the Navajo Nation,
the Company’s ability to reach agreements with current royalty holders,
weather conditions, operating conditions at the Company’s mining projects,
government and tribal regulation of the mining industry and the nuclear power
industry, world-wide uranium supply and demand, availability of capital,
timely receipt of mining and other permits from regulatory agents, maintaining
sufficient financial assurance in the form of sufficiently collateralized
surety instruments and other factors which are more fully described in the
Company’s documents filed with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize, or should any of the
Company’s underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue reliance
should not be placed on the Company’s forward-looking statements. Except as
required by law, the Company disclaims any obligation to update or publicly
announce any revisions to any of the forward-looking statements contained in
this news release.

Contact:

Investor:
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com
or
Media:
Uranium Resources, Inc.
Mat Lueras, 505-269-8317
Vice President, Corporate Development
mlueras@uraniumresources.com