Uranium Energy Corp (NYSE:
UEC, the "Company") is pleased to announce the receipt of a Production Area
Authorization from the Texas Commission on Environmental Quality (the "TCEQ"),
allowing for the commencement of operations at Production Area-3 of the
Company's Palangana Mine located in South Texas. This Authorization, the
Company's third from the TCEQ, provides for in-situ recovery of uranium and
extends the area of production at the Palangana Mine significantly to the
southeast. With wellfields and well control facilities in place already,
operations at Production Area-3 has commenced while operations at Production
Areas 1 and 2 are ongoing.
President and CEO Amir Adnani stated, "This Authorization, in addition to the
completion of permitting of the Company's Goliad project announced this week,
is anticipated to significantly increase our uranium production in South
Texas. In addition, the Company is continuing to permit and develop
Production Areas 4 and 5 at Palangana."
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