UEC approves restart of ISR uranium production in Wyoming; first output expected August 2024

URANIUM ENERGY CORP

Christensen Ranch ISR restart approved; uranium to be processed at Irigaray CPP (2.5M lbs/yr capacity).
First production expected August 2024, funded from existing cash ($213.7M as of Oct 31, 2023).
Produced uranium 100% unhedged; spot price $106/lb U3O8 as of Jan 15, 2024 (UxC).
Wyoming M&I resources: 66.2M lbs; combined U.S. ISR resource base >75M lbs M&I and >25M lbs inferred.
Also advancing restart of South Texas Hub & Spoke platform; timing update to follow.

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