Ur-Energy Announces Receipt of Final NRC License

Ur-Energy URG announces that the U.S. Nuclear Regulatory Commission (NRC) has completed its review of the Lost Creek Project Technical Report and has issued the Safety Evaluation Report and the Final Source and Byproduct Materials License. The Company previously announced the NRC's completion of the related Final Supplemental Environmental Impact Statement on June 20, 2011. This final action on the part of the NRC, which is the culmination of nearly four years of environmental and technical analysis, concludes the NRC's review of the Lost Creek Project. The issuance of the NRC Source and Byproduct Materials License marks a significant milestone for the Company as it is one of the three major authorizations required for construction and operation of the Lost Creek in-situ uranium recovery facility. Wayne Heili, President, said, "We are very pleased that the NRC, after completing a Generic Environmental Impact Statement, a Supplemental Environmental Impact Statement, and a Technical Review, has determined that the proper course of action is to issue a final Source and Byproduct Materials License. The NRC's authorization confirms that the project will be completed in a manner that is protective of the environment, the public, and our employees."