Uranium Energy Corp Receives Additional Non-Dilutive $10M, Extends Loan Facility to July 2016 and Provides Operations Update

   Uranium Energy Corp Receives Additional Non-Dilutive $10M, Extends Loan
             Facility to July 2016 and Provides Operations Update

PR Newswire

CORPUS CHRISTI, TX, March 14, 2014

NYSE MKT Equities Exchange Symbol - UEC

  *Maturity of existing credit facility extended by two years to further
    strengthen the Company's working capital position and financial
    flexibility;
  *Substantial liquidity injection that is non-dilutive to shareholders
    through a drawdown of an additional $10M to advance the Company's
    hub-and-spoke production platform in South Texas;
  *Continued support from two of the most respected investors in the natural
    resource sector; and
  *Developments to continue at the Palangana, Goliad and Burke Hollow ISR
    Projects and increased extraction to come online with a sustained
    improvement in uranium prices, which is expected in 2014 on the back of
    reactor restarts in Japan.

CORPUS CHRISTI, TX, March 14, 2014 /PRNewswire/ - Uranium Energy Corp (NYSE
MKT: UEC) (the "Company" or "UEC") is pleased to announce that the Company,
Sprott Resource Lending Partnership and CEF Capital Markets Limited (the
"Lenders") have agreed to extend the previously announced $20,000,000 senior
secured credit facility (the "Credit Facility") by deferring required
principal payments by two years and extending the Credit Facility by two years
to now a full four years (together, the "Credit Facility Extension").

The Company has drawn down a further $10,000,000, bringing the total principal
amount outstanding under the Credit Facility Extension to $20,000,000.

Amir Adnani, President  and CEO,  stated, "The $10  million drawdown  combined 
with the  Credit  Facility  Extension have  significantly  strengthened  UEC's 
financial position in a manner which is non-dilutive to our shareholders.  We 
will be utilizing this injection of  growth capital to continue advancing  our 
Texas hub-and-spoke production platform."

CEF's Chairman and CEO, Warren Gilman stated, "Our investment in UEC is  based 
on the uniqueness and quality of their  assets as well as the strength of  its 
management team. We are pleased to continue our support of the Company as  it 
positions itself as the leading uranium producer in the U.S."

Narinder Nagra,  President  of  Sprott  Resource  Lending  Corp.,  added,  "We 
anticipate improving conditions in the uranium market driven by the  continued 
growth of nuclear  power globally  and strong  supply-demand fundamentals  for 
uranium over the  medium to long-term.  We support UEC's  goal of becoming  an 
important and strategic producer in the U.S., which despite being the  world's 
largest consumer of nuclear power, is presently heavily dependent on  imported 
uranium supply to fuel its nuclear reactors."

Uranium Market and Operations Update

The long-term fundamentals for  both nuclear power and  the uranium price  are 
very strong  however  this strength  is  not currently  reflected  in  uranium 
prices. The current spot price of uranium is below the average economic  cost 
to produce uranium from currently operating mines globally, and is well  below 
the average economic cost to develop new production.

The current uranium price environment has reduced both existing production and
the pipeline  of  uranium  development projects  globally  resulting  in  even 
greater uranium supply shortfalls  in the future, which  in turn will lead  to 
greater upward pressure on the uranium price.

As a result of the aforementioned status of the uranium market, the  Company's 
near-term growth strategy of its hub-and-spoke production platform will  focus 
on  permitting,  resource  expansion  and  pre-extraction  activities  at  its 
satellite projects.  Concurrently, operations  will  continue at  the  Hobson 
Processing Plant and the  Palangana ISR Mine,  maintaining our core  operating 
team and personnel. This strategy will  position UEC to scale its  operations 
relatively quickly as the uranium  price strengthens, enabling the Company  to 
realize additional cash flows and higher rates of return.

The Goliad  ISR  Project  is  one  of the  key  components  of  the  Company's 
hub-and-spoke production platform and preserving the full resource base  until 
an improvement  in uranium  prices  is anticipated  to improve  the  project's 
financial returns  and create  greater shareholder  value. Hence,  while  all 
long-lead items have been  ordered and received, the  final completion of  the 
wellfield, deep disposal well  and ion-exchange plant will  be in accord  with 
the uranium price environment which is expected to improve in 2014 on the back
of reactor restarts in Japan.

The Burke  Hollow  ISR  Project  advances  on  multiple  fronts  including  an 
accelerated production permitting program and ongoing resource exploration and
delineation as recently disclosed in a press release dated February 27, 2014.

UEC is positioned  as a low-cost  producer in the  US uranium mining  industry 
with the Hobson  Plant having a  physical capacity of  two million pounds  per 
year and a pipeline of permitted and extraction-ready projects to come  online 
at sustainably higher uranium prices.

Credit Facility Extension

In addition to the  existing terms of  the Credit Facility,  an annual fee  of 
4.5%, payable in common shares of the Company (the "Extension Annual Fee Share
Payment"), on the  outstanding principal balance  on such date,  if any,  plus 
$50,000 cash  (the "Extension  Annual Fee  Cash Payment")  is payable  by  the 
Company to the Lenders  on each of July  31, 2015 and July  31, 2016 (each  an 
"Extension Annual Fee Payment  Date") should any  principal be outstanding  at 
such time. The Extension  Annual Fee Share  Payment is to  be payable (if  at 
all) in such number of common shares of the Company determined on the basis of
a 10% discount to the  five-trading-day volume-weighted average closing  price 
of the  Company's common  shares on  the  NYSE MKT  immediately prior  to  the 
applicable date.

In connection with the Credit Facility  Extension, the Company is required  to 
issue a total of  100,000 common shares  in the Company to  the Lenders as  an 
extension fee and extend  the term of the  existing bonus warrants  previously 
issued to the Lenders by two years. No Extension Annual Fee Share Payment  or 
Extension Annual Fee Cash Payment shall be payable on an Extension Annual  Fee 
Payment Date should the Loan be repaid in full prior to such date.

The securities referred to in this news release have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in
the  United  States  absent  registration  or  an  applicable  exemption  from 
registration requirements.

About Sprott Resource Lending Corp.

Sprott Resource  Lending  Corp.   is  a  natural resource  lender  focused  on 
providing financing to mining and oil and gas companies. In July 2013,  Sprott 
Inc. completed  the acquisition  of Sprott  Resource Lending  Corp. which  now 
operates as a subsidiary of Sprott Inc.

About CEF (Capital Markets) Limited

CEF (Capital Markets) Limited is owned by CEF Holdings Limited which is  owned 
50% by Cheung Kong (Holdings) Limited and 50% by the Canadian Imperial Bank of
Commerce ("CIBC").  Cheung  Kong  (Holdings) Limited  is  the  publicly-listed 
flagship company of the  Cheung Kong Group of  companies, the Hong Kong  based 
multi-national conglomerate with a combined market cap of the Group in  excess 
of $100 billion  as of February  28, 2013.  CIBC is a  leading North  American 
financial institution with operations around the world. CEF is an investor  in 
significant resource assets on a global basis.

About Uranium Energy Corp

Uranium Energy Corp is a  U.S.-based uranium mining and exploration  company. 
The Company's  fully  licensed and  permitted  Hobson processing  facility  is 
central to  all  of its  projects  in  South Texas,  including  the  operating 
Palangana in-situ recovery mine and the Goliad in-situ recovery project  which 
is currently  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.

Safe Harbor Statement

Certain   information   contained   in    this   news   release    constitutes 
"forward-looking statements" as such term is used in applicable United  States 
and  Canadian  laws.  Generally,  these  forward-looking  statements  can  be 
identified by  the use  of forward-looking  terminology such  as "expects"  or 
"does not  expect", "is  expected", "anticipates"  or "does  not  anticipate", 
"plans", "estimates", "intends" or "believes", or that certain actions, events
or results "may", "could",  "would", "might" or "will  be taken", "occur",  or 
"be achieved".

Forward-looking  statements  are  based  on  the  opinions  and  estimates  of 
management as of the date such statements  are made, and are subject to  known 
and unknown risks, uncertainties and other  factors that may cause the  actual 
results, performance or achievements  of UEC to  be materially different  from 
those expressed or implied by such forward-looking statements. Many of  these 
factors are beyond  UEC's ability  to control or  predict. Important  factors 
that may cause actual results to  differ materially and that could impact  UEC 
and the  statements contained  in this  news  release can  be found  in  UEC's 
filings with the  SEC. Such risks  and other factors  include, among  others, 
variations in the  underlying assumptions  associated with  the estimation  or 
realization of  mineralization, the  availability of  financing on  acceptable 
terms, accidents, labor disputes,  acts of God and  other risks of the  mining 
industry including, without limitation, risk of liability under  environmental 
protection legislation, delays in obtaining governmental approvals or permits,
title disputes or claims limitations on insurance coverage. UEC believes that
the expectations reflected in the forward-looking statements included in  this 
news release are  reasonable; however, no  assurance can be  given that  these 
expectations will prove  to be  correct, and  such forward-looking  statements 
should not be unduly relied upon.

For forward-looking statements in this news release, UEC claims the protection
of the safe  harbor for  forward-looking statements contained  in the  Private 
Securities Litigation Reform Act of 1995. UEC 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
E-mail:info@uraniumenergy.com
Stock Exchange Information:
NYSE MKT:UEC
Frankfurt Stock Exchange Symbol:U6Z
WKN:AØJDRR
ISN:US916896103

SOURCE Uranium Energy Corp

Contact:

Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free:(866) 748-1030
Fax:(361) 888-5041
E-mail:info@uraniumenergy.com
Stock Exchange Information:
NYSE MKT:UEC
Frankfurt Stock Exchange Symbol:U6Z
WKN:AØJDRR
ISN:US916896103
 
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