URANIUM ENERGY CORP (OTCBB: URME)

Dear Reader,

We’ve seen it with oil and we’ve seen it with gold. Explosive increases in the prices of natural resources are not uncommon.

And in our continual effort to identify potentially attractive sectors of any small cap sector, we have trained our sites on uranium opportunities. We’ve been fans of yellow cake (uranium) companies for some time with the editors of SmallCap Sentinel and StockUpTicks.com trading uranium articles and research with one another over the last few years.

At last, we’ve identified another uranium play, Uranium Energy Corp. (OTCBB: URME), which may benefit from an enormous event in the uranium market that is causing investors from across the small cap space to join resource investors at the trough.

So, here’s the deal and the primary reason you should put URME on your “watch list.”

The world’s largest yellowcake producer, Cameco, recently announced that its lucrative Cigar Lake mine has been flooded causing many to forecast that the already hot uranium market could become even more volatile. With the underground workings at Cameco’s once promising mine now underwater, the set-back may drive further yet a uranium market that has exploded over the past few years.

Uranium experts are wondering what this disaster does to an already tight uranium supply. Considering that much of the anticipated product from the Cigar Lake mine was already sold, empty-handed buyers may now be forced into the spot market. This could lead to fireworks in spot pricing. Of course, public companies with uranium based business plans are tightly tethered to these events which explains our enthusiasm in bringing you today’s profile.
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About Uranium Energy Corp.

URME controls one of the largest historical uranium exploration and development databases in the U.S. Through the use of these databases, URME has acquired advanced uranium properties throughout the southwestern U.S. including Texas, Wyoming, New Mexico, Arizona, Colorado and Utah.  This region has historically been the most concentrated area for uranium mining in the US. With the use of historical exploration databases, URME has been able to target properties for acquisition that have already been the subject of significant exploration and development by senior energy companies in the past. 

The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives URME the ongoing uranium mine-finding and uranium mine development expertise. 

URME's foundation project, located in Goliad County, Texas. Development drilling and ISL mine permitting are ongoing with a view to commencing ISL uranium production in 2009.

Uranium is used primarily as an energy source for nuclear fission reactors - a safe, efficient, and emission-free alternative to fossil fuels. The market cycle for uranium had been largely depressed since 1981, but has recently experienced a sharp increase due to macroeconomic factors. 

An estimated supply shortfall of 80 million pounds per year, for several coming years, is forecast by measuring current annual reactor demand and current annual mine production. In addition, new nuclear power plants have been commissioned throughout the world; China, India and Russia alone have permitted the construction of over 75 new reactors. 

In the United States, uranium exploration has become a national initiative. In August 2005, President Bush signed into law the Domenici-Barton Energy Policy Act containing an array of provisions that support nuclear power. This enactment, combined with the growing public recognition that nuclear power plants generate electricity with considerably less greenhouse emission than fossil fuels, places URME in a favorable position for funding and exploring all aspects of uranium development.

As in all mining of metals, there are stages of getting the ore out of the ground. Comparing all the 'players' in the uranium mining business, some are huge companies in full production (generally mining for Gold and Silver as well). The more medium sized companies are generally operating, but usually for less than a year and are considered in a start-up phase of mining. Most of the smaller companies are PLANNING TO DEVELOP OR DEVELOPING their uranium mining operations and this is the category that URME falls into.

Peer competitors of URME include Uranerz Energy, UR-Energy, and Energy Metals. Not surprisingly, as with many SmallCap companies, the difference comes down to people and expertise.  URME has the most complete and experienced management and technical team when comes to building and operating ISL uranium mines in the U.S. and globally (see profiles below).  Add that to the fact that URME currently has the lowest market valuation compared to its immediate peers and its potential as a company and as a stock becomes quite clear.

There may be a rapidly growing number of uranium exploration companies, but there are very few approaching production in the U.S. In the case of Energy Metals, its most advanced project, La Palangana in south Texas, has a nearby processing facility, the Hobson plant. This would at first appear to present an advantage. However, the Hobson plant was constructed 27 years ago and was in operation for 14 years, prior to now being inactive for 13 years. With uranium prices vaulting ahead from $7.50/lb to current levels of $70/lb+, industry analysts foresee strong continuous demand pushing prices still higher in the near-term. 
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The Uranium Market and URME

The United States has 104 operating nuclear reactors generating more than 100 million megawatts of electricity each year, or approx. 20% of the country’s energy supply. These plants are using approximately 55 million pounds of U3O8 annually to produce this energy.  The U.S. is by far the largest user of uranium in the world.

• Public for less than a year, URME holds major industry trump card: Management includes the ISL* experts who earlier built 80% of all current U.S. uranium production facilities now in operation!

• URME is now drilling with four rigs to confirm and expand historic uranium resource at Goliad, a turn-key project in south Texas. Scoping study for early production commences in two months.

• With 24 properties in six states and with significant exploration databases from seven earlier U3O8 explorers/producers – URME is rapidly expanding its resources so production can ramp up quickly.

• The industry was last vital in the mid-70s to early-80s – 20 to 30 years ago. This fact directly highlights a major strategic advantage held by Uranium Energy Corp. This company has successfully brought on seven such professionals, headed by two of the biggest hitters in the North American uranium mining industry: Harry Anthony and Doug Norris. In terms of in-situ leaching, or ISL uranium production, there is no stronger engineering team.

URME and the TEXAS Goliad Project

URME's foundation project is located in Goliad County, Texas.  The first phase of confirmation drilling is scheduled for Spring 2006, and ISL mine permitting is scheduled to begin in the second half of 2006.

Goliad Project has been the subject of extensive historical exploration and delineation by previous owners.  Exploration began in the 1970s.  At the time of Uranium Energy Corp’s acquisition, over 550 exploration holes had been drilled, totaling 250,000 feet.  Most of this drilling activity (>80%) was focused on the ore body, for purposes of resource definition.  The manager of these exploration programs was Clyde Yancey, PGeo, who is now an employee of Uranium Energy Corp. Mr. Yancey has a twenty-five year history with this asset. 

The Goliad uranium deposits and attendant mineralization occur across a wide geographic area within the basal sands of the Pliocene age Goliad Formation.  To date, ore grade mineralization has been developed within four stratigraphically separate sands (the A to D Sands) from 100 feet in depth to 400 feet. 
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Recent News From URME

Press Release Source: Uranium Energy Corp 
Wednesday December 6, 9:00 am ET 

AUSTIN, TEXAS--(MARKET WIRE)--Dec 6, 2006 -- Uranium Energy Corp (OTC BB:URME.OB - News)(FWB: U6Z)(Berlin:U6Z.BE - News) Uranium Energy Corp announces a significant expansion to its uranium exploration and development database, giving the Company increased access to uranium resources throughout the southern United States.

The recent acquisition includes the following data: drilling and logging data from over 1 million feet of uranium exploration and development drilling, resource calculation reports and various other geological reports, drill hole location maps and other strategic mapping. The data was originally compiled from 1972 to 1981 by various exploration companies, and covers over 100 uranium prospects in 15 southern US states.

Uranium Energy Corp's library of uranium exploration and development databases is pre-eminent in the industry and contains over 2.6 million feet of drilling data, on properties in 17 US states. This strategic library provides the Company's technical personnel with the precise locations of where historically drill-indicated uranium resources exist.

To read the complete release and disclaimer, Click Here

Press Release Source: Uranium Energy Corp 
Tuesday November 21, 9:05 am ET 

AUSTIN, TEXAS--(MARKET WIRE)--Nov 21, 2006 -- Uranium Energy Corp (OTC BB:URME.OB - News)(FWB: U6Z)(Berlin:U6Z.BE - News) is pleased to announce the acquisition of 100% of the Nichols Project, with an historic resource of 1.2 million pounds of uranium, located in South Texas.
The Nichols Project consists of 900 acres, and is located within the heart of the historic Karnes County uranium mining district. Karnes County is immediately adjacent to Goliad County, the site of the Company's advanced Goliad Project operations. The property was originally developed by Texaco Uranium (now ChevronTexaco), and reportedly contains an historic resource of 1.2 million pounds of e-U3O8. Uranium Energy Corp is currently negotiating with a third party to acquire all or part of the Texaco exploration and development database associated with this deposit.

To read the complete release and disclaimer, Click Here

Press Release Source: Uranium Energy Corp
Thursday January 4, 9:00 am ET

AUSTIN, TEXAS--(MARKET WIRE)--Jan 4, 2007 -- Uranium Energy Corp (the "Company") (OTC BB:URME.OB - News)(FWB: U6Z)(Berlin:U6Z.BE - News) is pleased to announce that it has recently completed a private placement financing resulting in the issuance of an aggregate 5,400,000 units, at a subscription price of US $2.50 per unit, for total proceeds of US $13,500,000. There were no finders' fees or commissions payable by the Company in connection with this private placement financing.

Each unit is comprised of one common share and one non-transferable share purchase warrant. Each two such warrants entitle the shareholder to purchase an additional common share of the Company until the later of (i) 18 months from the date of issuance of the units and (ii) nine months from the effective date of the Company's proposed registration statement. The exercise price of the warrants is US $3.00 per warrant share.

The Company's President and CEO, Amir Adnani, provided these comments, "Uranium Energy Corp is very pleased to be associated with a dynamic group of new investors who have assisted the Company in raising significant new capital. The Company can aggressively continue with project development, as well as its other scheduled growth initiatives."

To read the complete release and disclaimer, Click Here
 

URME Management

Alan Lindsay, Chairman

Mr. Lindsay has extensive experience and expertise in the mining and bio-technology sectors. From 2000 to the present, he has been the chairman, president, and CEO of MIV Therapeutics Inc, a publicly listed biomedical company recently awarded the prestigious Frost & Sullivan 2005 Award for Technology Innovation in the Field of Medical Coating. Mr. Lindsay was the founder of AZCO Mining and served as chairman, president and CEO of AZCO from 1992 to 2000. The company was listed on the Toronto and American Stock Exchanges. During his tenure at AZCO, the company sold the Sanchez copper deposit to Phelps Dodge for $55 million CDN and established a joint venture with Phelps Dodge on the Piedras Verdes copper deposit with 2.1 billion pounds of copper reserves. Mr. Lindsay also cofounded Anatolia Minerals Development.

Amir Adnani, Chief Executive Officer, President, Director

Mr. Adnani is an entrepreneur with a background in business development and marketing. In 2001, he founded Blender Media Inc., a leading provider of marketing, public relations, and financial research services to public companies and investors in the mining and energy sectors. In 2005, Blender Media was named one of the fastest growing companies in Canada by Profit magazine. Mr. Adnani received a Bachelor of Science from the University of British Columbia in Vancouver.

Pat Obara, Secretary, Treasurer and Chief Financial Officer

During the past five years Mr. Obara has worked as a consultant to several private and publicly listed companies providing various consulting services in the areas of corporate finance and administration. Prior to April 2004, Mr. Obara served as the CFO and a director of two public companies listed on the TSX Venture Exchange.

Harry Anthony, BSc, MSc Engineering Mechanics, Chief Operating Officer, Director

Mr. Anthony is an internationally recognized expert in the uranium industry.  Mr. Anthony has been a professional engineer for 36 years, the latter 30 of which, he has been at the forefront of multiple aspects of the uranium industry.

Mr. Anthony is particularly noted as being a pioneer of the emerging extraction technology for the uranium mining sector known as In-Situ-Leaching, or ISL.  ISL is a significantly less costly and less environmentally obtrusive technique for mining uranium than any other method currently in use.  He has been involved with every notable ISL uranium mine in the US and abroad, at all levels of development, including feasibility, design, operations, and management.

Mr. Anthony was a senior officer and director of Uranium Resources Inc, a public company, and a significant uranium producer in the US.  During his 20-year tenure at URI, he was responsible for all technical aspects of mine development.  He has also provided technical services and mine plans for companies such as Union Carbide, Urangesellschaft, Kennecott, Rio Algom, Heathgate Resources, and others.

Mr. Anthony is a sought-after speaker on uranium and related issues, having written and presented numerous reference papers on behalf of leading internationally recognized bodies including the IAEA.  He is a current and past member of several professional uranium-related societies.  Mr. Anthony has a BSc and MSc in Engineering Mechanics from Pennsylvania State University.

Randall Reneau, BA Geology, MSc Environmental Engineering, PGeo
Chief Exploration Officer and Director

Mr. Reneau is registered as a Certified Professional Geologist with over 30 years of experience in mineral exploration and project management in the United States, Mexico, Brazil and West Africa.  Mr. Reneau has significant experience exploring for uranium in the United States, specifically in Texas, Arizona, New Mexico and Wyoming, the states known to hold the largest uranium reserves.  He extensively explored these states while employed in a senior position for Conoco Uranium, once a division of Conoco Ltd, and Wold Nuclear Corporation, a privately-held company. For the past 10 years, he has been an independent contractor, performing geology services for mining and exploration companies internationally.  He obtained his MSc in Environmental Engineering from Kennedy-Western University, Boise, Idaho, and a BA in Geology from Central Washington University.

Clyde Yancey, BSc, MSc Geology, PGeo
Chief Geologist

Mr. Yancey received his BSc in Geology from Trinity University, San Antonio, Texas in 1975, and his MSc in Geology from the South Dakota School of Mines and Technology in 1978.  Mr. Yancey began his professional career with the USGS - Uranium and Thorium Resources Branch in 1978.  He continued working in uranium development through 1989 while employed in exploration and in-situ mining production for such firms as Wyoming Minerals Corporation, Caithness Mining Corporation, Mobil Oil, and Moore Energy.  During this period, he discovered several uranium deposits including the Weesatche and Southeast El Mesquite.  From 1989 to the present, Mr. Yancey has concentrated on reclamation investigations at various uranium mill tailings sites throughout the southwest United States for mining companies, government agencies and First Nations.  Also during this time, he co-authored numerous professional papers on groundwater reclamation and compliance related to uranium.  Mr. Yancey is currently a Registered Professional Geologist in Wyoming and Texas.

James Douglas (Doug) Norris, BSc Chemical Engineering, PEng
Engineering Manager

Mr. Norris is a professional engineer with twenty years experience designing and constructing uranium mining facilities.  Having held senior engineering, as well as operational positions for uranium producers Rio Algom (now BHP Billiton) and Power Resources (now Cameco), Mr. Norris has been responsible for all phases of mine development, from the grass roots, through to operations management.  He was integral to the development of well-known US uranium mines, Smith Ranch and the Highland, both ISL mines.

Doug Norris is a Registered Professional Engineer, chartered in the state of Oklahoma.  He received his BSc in Chemical Engineering from Louisiana State University.  Mr. Norris has also been ISO certified to prepare health and safety risk analyses and mitigation techniques during the plant design, construction and operational phases.
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Financial Highlights For Uranium Energy Corp.

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