Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, filed a Technical Report Summary (“TRS”) regarding its Shea Creek Project. The company filed the S-K 1300 report with the Securities Exchange Commission. According to the report, UEC indirectly owns more than 49% of the project with Orano Canada Resources owning the remainder and operating the project. The filing is the first Saskatchewan resource estimate the company has released since the acquisition. The reported noted that Shea Creek has combined resources of 95.63 million lb. U3O8 on a consolidated basis comprised of 67.57 million lb. at 1.491% U3O8in the indicated resource category and 28.06 million lb. at 1.015% U3O8 in the inferred category, respectively. In addition, the UEC-attributable share of combined resources is 46.95 million lb. U3O8, comprised of 33.18 million lb. indicated and 13.78 million lb. inferred. Located in the Western Athabasca Basin, Shea Creek deposits were the first new discoveries in the rapidly developing Western Athabasca uranium district. The filing noted that uranium mineralization at project can be found just above, and extending below, the unconformity between Athabasca Group Sandstone and the underlying older basement rocks, which occurs at depths between 700 and 800 meters. To date, four unconformity-related deposits have been identified. The company believes there is a high potential to expand uranium resources in the basement rocks within the existing footprint of Shea Creek.
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About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel required for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
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