Slide 1: North America's Newest Emerging Uranium Producer
=z U = c NORTH AMERICA’S NEWEST EMERGING URANIUM PRODUCER Uranium Energy Corp www. uraniumenergy.com UEC’s Hobson Processing Facility
Slide 2: Disclaimer
DISCLAIMER Statements contained in this presentation which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward- looking statements. Factors tha
Slide 3: North America's Newest Emerging Uranium Producer
Yellowcake processed at Hobson from Palangana ISR project Satellite facility at the producing Palangana ISR project NORTH AMERICA’S NEWEST EMERGING URANIUM PRODUCER Resin hauling truck and trailer at Hobson Processing Plant Zero emission vacuum dryer at Hobson ISR processing plant 2
Slide 4: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 3
Slide 5: Mission Statement
MISSION STATEMENT: EXPAND PRODUCTION OF URANIUM USING LOW COST IN-SITU RECOVERY(ISR) WHILE DEVELOPING A PIPELINE OF ADDITIONAL SIGNIFICANT URANIUM RESOURCES FOR ONGOING MAJOR GROWTH. South Texas 4
Slide 6: UEC at a Glance
UEC AT A GLANCE Share Capital & Cash Position Cash & Equivalents (Apr 2011) $34.0 M Total Cash Potential $38.1 M Cash Potential from Warrants $23.7 M Cash Potential from Options $14.4 M Debt $0 M Shares Outstanding 72.2 M Shares Fully Diluted 87.6 M Market Cap (as of May 13) 223 M Warrants: Expiring
Slide 7: Palangana ISR Project - Ramping Up ISR Production
PALANGANA ISR PROJECT - RAMPING UP IN-SITU RECOVERY (ISR) PRODUCTION MAJOR HIGHLIGHTS REPORTED FOR THE FISCAL QUARTER ENDED JANUARY 31, 2011: Initial results indicate low-cost production profile: $18/lb cash operating expense 21,000 pounds of uranium concentrates were accumulated in inventory
Slide 8: Investment Summary
producing Palangana ISR INVESTMENT SUMMARY project PROOF OF CONCEPT Operating the first new ISR uranium mine in the U.S. in five years BUSINESS PLAN FOCUSED ON GROWTH Regional strategy in South Texas with central ISR processing plant and four ISR projects 100,000 meter drill program to expand
Slide 9: Project Pipeline Includes ISR and Conventional Uranium Projects Across the Americas
PROJECT PIPELINE INCLUDES ISR AND CONVENTIONAL URANIUM PROJECTS ACROSS THE AMERICA’S UEC’S U.S PROJECT PORTFOLIO UEC’S PARAGUAY PROJECT, UEC U.S PROJECT PORTFOLIO SOUTH AMERICA 8
Slide 10: UEC's U.S. Project Pipeline
UEC’S U.S. PROJECT PIPELINE Project / Historic Operator Stage Resource MM lbs Hobson Processing Plant / Uranium One Palangana / Union Carbide (P) 2.2(1) Goliad / Moore Energy (NT) 6.9(1) Nichols / Texaco Corp (NT) 1.3(1) Salvo/ Mobil Oil (E) 2.8 Total Texas Resources ~13.2 MM Lbs West Ranch / Kerr M
Slide 11: UEC's Exploration Databases Drives Resource Expansion
UEC’s EXPLORATION DATABASES DRIVES RESOURCE EXPANSION UEC 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. JURISDICTION PROVIDER YEARS DRILL HOLES OF DATA US, Canada, Maps, Geologi
Slide 12: Officers and Directors
OFFICERS AND DIRECTORS Amir Adnani – President -Chief Executive Officer, Director An entrepreneur and founding CEO of UEC, extensive experience in financing natural resource companies Harry L. Anthony – Chief Operating Officer, Director Internationally recognized expert in the field of ISR urani
Slide 13: Technical & Advisory Team
TECHNICAL & ADVISORY TEAM Ed Brezinski Harry Anthony Robert Underdown Andrew Kurrus Vice President Chief Operating Officer Vice President of Exploration Marketing and Sales Production Manager Texas World-renowned ISR expert Has held senior operational 30 years experience exploring 25 years experienc
Slide 14: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 13
Slide 15: Uranium Price History
URANIUM PRICE HISTORY - Uranium Spot Price as of May 9th: $56.50/lb - Uranium Term Price: $70.00/lb URANIUM PRICES ARE DRIVEN PRIMARILY BY GLOBAL NUCLEAR Tornado CAPACITY EXPANSION, Announcements URANIUM PRODUCTION at Ranger Olympic Dam Fukushima ISSUES AT MAJOR Malfunction Events FACILITIES AND MOS
Slide 16: Nuclear Capacity Forecast by Region, 1980-2030 Post Fukushima
NUCLEAR CAPACITY FORECAST BY REGION, 1980-2030 POST FUKUSHIMA MWe ~ 425 of 443 nuclear © UxC 700,000 reactors safely operating 62 nuclear 600,000 reactors remain 500,000 under construction 400,000 ~3% of which 300,000 are in G7 countries 200,000 100,000 0 1980 1983 1986 1989 1992 1995 1998 2001 2004
Slide 17: Post Fukushima - Supply/Demand Imbalance
POST FUKUSHIMA – THE URANIUM SECTOR CONTINUES TO FACE A SUPPLY/DEMAND IMBALANCE Production from Existing Mines and Secondary Supply Demand Requirements to be Filled by New Production How will this picture be impacted by Fukushima Source: UxC’s Uranium Market Outlook: Q3 2009 16
Slide 18: Post Fukushima - Supply/Demand Imbalance: What Has Changed
POST FUKUSHIMA – THE SECTOR CONTINUES TO FACE A SUPPLY/DEMAND IMBALANCE MINE SUPPLY (~130 MM LBS. U3O8 IN 2010) CANNOT MEET CURRENT DEMAND (182 MM LBS. U3O8 IN 2010) NOR IS IT EXPECTED TO GROW AT THE SAME PACE AS FUTURE DEMAND WHAT HAS CHANGED SINCE FUKUSHIMA? Uranium Demand Uranium Supply • 425 nuc
Slide 19: Post Fukushima - HEU Still Expires in 2013
POST FUKUSHIMA - HEU STILL EXPIRES IN 2013 Expiration of US-Russian HEU Agreement scheduled for 2013 Russia has repeatedly indicated that there is no desire to extend agreement Existing US/Russia HEU agreement supplies 13% of world or 45% of US annual uranium needs Current cost of downblendi
Slide 20: Post Fukushima - The U.S. Opportunity
POST FUKUSHIMA - THE U.S. OPPORTUNITY U.S. holds the fourth position globally for recoverable resources of U308 104 U.S. nuclear reactors consume 55mm lbs. of U3O8/year to generate 20% of US electricity grid Currently, the U.S. produces approximately 4mm lbs. of U3O8/year Secondary supplies
Slide 21: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 20
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Slide 23: Typical ISR Process Flow
TYPICAL ISR PROCESS FLOW TYPICAL ISR PROCESS FLOW 22
Slide 24: Wellfield
i<-c U= — NORTH AMERICA’S NEWEST EMERGING URANIUM PRODUCER r = —s 3% ~ i > 7. : [i-sru RECOVERY | MS ss phe 3 = 3! I » = \\ - os, 23
Slide 25: Palangana Satellite Facility and Wellfield
PALANGANA SATELLITE FACILITY AND WELLFIELD 24
Slide 26: UEC's Hobson ISR Processing Plant
UEC’s HOBSON ISR PROCESSING PLANT 25
Slide 27: Resin Hauling Truck & Trailer
RESIN HAULING TRUCK & TRAILER 26
Slide 28: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 27
Slide 29: South Texas Uranium Belt - A District Production Strategy
SOUTH TEXAS URANIUM BELT- A DISTRICT PRODUCTION STRATEGY The Texas Commission on Environmental Quality (TCEQ) issues all required mining permits. 30+ years of uranium mining in Texas, 31 applications made = 31 final permits 26 of 31 current or historic deposits in trend have been ISR amenable
Slide 30: Current South Texas Resources
CURRENT SOUTH TEXAS RESOURCES: Category Palangana Goliad Salvo Nichols Total 43-101 MEASURED & INDICATED 1.06 5.5 - - 6.56 (M LBS.) 43-101 INFERRED 1.15 1.4 2.8 1.3 6.65 (M LBS.) TOTAL (M LBS.) 2.21 6.9 2.8 1.3 13.21 29
Slide 31: Hobson ISR Processing Plant
HOBSON ISR PROCESSING PLANT Production capacity of 3 mm lbs/year Fully licensed and permitted Completely refurbished as of Q3/2008 30
Slide 32: Palangana ISR Project - Stage: Producing
PALANGANA ISR PROJECT - STAGE: PRODUCING First new ISR uranium mine in the U.S. in five years 9,900-acre property, located 100 miles south of the UEC’s Hobson ISR processing plant 2.2mm lb. NI 43-101 Compliant Resource: Two Production Zones: Measured & Indicated Resource: 1,057,000 lbs. aver
Slide 33: Palangana ISR Project - Stage: Producing
PALANGANA ISR PROJECT- STAGE: PRODUCING POTENTIAL PRODUCTION AREA 3 SALT DOME POTENTIAL FOR NEAR TERM EXPANSION PRODUCTION AREAS 1 AND 2 UCC Historic Production Area 32
Slide 34: Goliad ISR Project - Stage: Production Expected Q4 2011
GOLIAD ISR PROJECT - STAGE: PRODUCTION EXPECTED Q4 2011 Received production permits (Mine Permit and Production Area Authorization) Largest ISR uranium project in Texas 6.9 mm lb. NI 43-101 Compliant Resource- Measured & Indicated 5.4 million pounds Inferred 1.5 million lbs. U3O8 Exciting “B
Slide 35: Salvo ISR Project - Stage: Expansion Drilling Program
SALVO ISR PROJECT STAGE: EXPANSION DRILLING PROGRAM 100%-controlled in-situ recovery uranium project in Bee County totaling 4,238 acres 45 miles from Hobson processing plant Targeted to become the third in-situ recovery satellite project in Texas Inferred mineral resource of 1.2 million tons
Slide 36: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 35
Slide 37: Expanding the Project Pipeline
EXPANDING THE PROJECT PIPELINE A NEW ISR DISTRICT OPPORTUNITY IN PARAGUAY Prospecting permit covers 247,000 acres located in the area of Coronel Oviedo, Paraguay Subject to extensive uranium exploration by Anschutz Corp (1976-1983) and Crescent Resources (2006-2008) Property characterized by m
Slide 38: Prior Exploration Highlights
PRIOR EXPLORATION HIGHLIGHTS ANSCHUTZ CORPORATION • of 28 drill holes 17 showed significant uranium values • the best being 6.2 feet of 0.153% U3O8 at a starting depth of 785 feet UEC crew performing 24-hour aquifer test • 3 mineralized fronts were identified and a 75 mile-long fault structure which
Slide 39: A New ISR District Opportunity in Paraguay
A NEW ISR DISTRICT OPPORTUNITY IN PARAGUAY ISR AMENABLE URANIUM MINERALIZATION UEC has conducted a 24-hour aquifer test in the area of the resource trend UEC crew performing 24-hour aquifer test The test determined that the project’s aquifer would support in-situ recovery of uranium The test s
Slide 40: Arizona
ARIZONA U.S. PROJECT PORTFOLIO HIGHLIGHT UEC ARIZONA PROJECT PORTFOLIO Established uranium districts and historic production Favorable mine permitting environment Largest nuclear power plant in the US, Palo Verde just received 20 year license extensions UEC controls 2 existing projects, both sub
Slide 41: Presentation Outline
PRESENTATION OUTLINE Uranium Energy Corp Overview Uranium Supply and Demand In-Situ Recovery (ISR) Mining Production Strategy – South Texas Featured Projects Final Thoughts 40
Slide 42: Upcoming 2011 Milestones
UPCOMING 2011 MILESTONES EXPANDING PRODUCTION AND POUNDS South Texas Ramp up production at Palangana Final permits to be issued by the TCEQ for the Goliad Project Commence construction at Goliad production area Acquisition of new leases within hauling distance to Hobson ISR processing facili
Slide 43: UEC's Corporate History 2004-2011
UEC’s CORPORATE HISTORY 2004-2011 October 2004 Acquired portfolio of uranium projects in Wyoming, Arizona, Colorado February 2006 Went public by listing shares on the OTCBB under the symbol URME July 2006-Jan 2007 Raised $18, 500,000 equity financing September 2007 Began trading on the Amex under a
Slide 44: Initial Results Indicate Low-Cost Production Profile
INITIAL RESULTS INDICATE LOW-COST PRODUCTION PROFILE CASH COST OF URANIUM PRODUCTION (CURRENT QTR, $/LB.) ENERGY(f) sources Energy RESOURCES (F) Resources (f) 40.40 40.40 40.40 DENISON (e) Denison (e)Denison (E) 34.56 34.56 34.56 PALADIN (d) Paladin (d)Paladin (D) 33.52 33.52 33.52 CAMECO (c) Cameco
Slide 45: Analyst Coverage
ANALYST COVERAGE CIBC World Markets Ian Parkinson (416) 956-6169 Dundee Capital David A. Talbot (416) 350-3082 Haywood Securities Geordie Mark, Ph.D (604) 697-6089 RBC Capital Markets Adam Schatzker (416) 842-7850 Jennings Capital Alka Singh (416) 304-3964 44
Slide 46: Investment Summary
INVESTMENT SUMMARY NORTH AMERICA’S NEWEST ENERGING URANIUM PRODUCER STRONG FUNAMENTALS AND A CLEAR GROWTH STRATEGY Operating the first U.S. ISR uranium mine in the last five years Strong balance sheet: $34 M cash, no debt, and 100% un-hedged production Owns a fully licensed, constructed, and c