Uranium Resources, Inc. Reviews 2011 Results and Provides Project Plans for 2012

Uranium Resources, Inc. (NASDAQ: URRE) ('URI? or the 'Company?), today
provided an update on the Company′s activities and financials, as well
as its strategy and outlook.

Don Ewigleben, President and CEO of URI, commented, 'We achieved several
objectives during 2011, and we have continued to make excellent strides
as we move into 2012. Over the last 14 months:

• 
  We initiated and advanced a full exploration program in South Texas in
  partnership with Cameco (NYSE: CCJ)
  
• 
  We completed our internal technical report and engaged an independent
  engineering firm for a feasibility study for our Churchrock Section 8
  in situ recovery (ISR) project in New Mexico
  
• 
  We recently announced the execution of a definitive agreement to
  acquire Neutron Energy, Inc. ('Neutron?)
  
• 
  And, we executed a $10 million financing agreement that helps to
  address our working capital requirements and the continued advancement
  of our projects and those held by Neutron.?
  

Texas Exploration Progressing at Los Finados; Reclamation,
Permitting and Process Facility Preparation Activities Moving Forward

URI has through its history produced over 8 million pounds of uranium
from its South Texas properties. Although not currently in production
due to the pricing environment, the Company has been developing and
executing on plans to be in a ready position for production when
economically feasible. At this time, URI expects 2012 to be focused on a
variety of development activities, but does not anticipate producing
from its Texas properties during the year.

• 
  URI is advancing current leased properties through licensing and
  permitting and will look to lease additional targeted properties.
  
• 
  The Company will conduct activities on its Kingsville Dome holding
  ponds during the second quarter through the end of the year to
  increase the usable capacity of the ponds and to recover uranium that
  has been collected over the various production cycles of the project.
  The pond efforts are expected to cost approximately $3 million and URI
  believes it may able to generate up to 40,000 to 50,000 pounds of U₃O₈
  as a by-product of this activity. This effort is necessary for uranium
  production in Texas as well as the potential of processing uranium
  loaded resins from the Company′s future uranium projects in Texas and
  New Mexico. The Kingsville Dome central processing plant is scheduled
  for its needed upgrades to begin toward the end of 2012.
  
• 
  URI will seek to further discussions regarding its two existing sales
  contracts to redefine the terms of its sales agreements to enable
  better margins and enhance the likelihood of returning to production
  in Texas as soon as practicable.
  
• 
  URI has processed approximately 4.2 billion gallons of water
  associated with the restoration activities at its three most recent
  South Texas projects through the end of the fourth quarter.
  Restoration has been completed and production areas PA1 and PA2 are
  moving to stabilization at Kingsville Dome (KVD). Further along in the
  process are Rosita PA1 and PA2 wellfields. Restoration results for
  these wellfields have been reviewed by the Texas regulatory agencies
  and restoration tables approved. URI expects to achieve final closure
  on these areas by the third quarter of 2012. Restoration activities
  continue at KVD PA3 and Vasquez PA1 and PA2.
  

Los Finados Exploration Project Update

• 
  In January 2011, URI completed an agreement to explore 53,524 acres in
  Kenedy County, Texas, for three years, with an option to lease the
  acreage for uranium production. And, URI and Cameco Resources, a
  subsidiary of Cameco (NYSE: CCJ), entered in a joint venture agreement
  which commenced with Phase I in June 2011.
  
• 
  Phase I exploratory work was completed in November 2011 and used a
  widely and evenly spaced drilling program covering a grid designed to
  test the potential for uranium mineralization over the entire 53,500
  acre area. Both parties elected to move forward with Phase II in
  December.
  
• 
  Phase II work started in December 2011 and is schedule to be completed
  in November 2012. Cameco will fund $1 million of the total $1.5
  million that was committed by URI to complete Phase II. Under Phase
  II, 10 holes at an average depth of 1,300 feet have been drilled to
  date.
  
• 
  Cameco has earned a 40% interest in the project and at the completion
  of Phase II will have 50%.
  

Mr. Ewigleben noted, 'We have a full slate of activities for our South
Texas region in 2012 with the ultimate goal being to develop sufficient
in place mineralized uranium material to support long-term production
and capture the economics available with in situ recovery mining to
capitalize on the processing assets we have at Kingsville Dome and
Rosita.?

Feasibility Study for Churchrock Section 8 in Review; Neutron
Acquisition Announced

One of URI′s primary focuses in 2011 in New Mexico was on the
advancement of its Churchrock Section 8 toward production in the latter
half of 2013. This area contains 6.5 million pounds of in-place
mineralized uranium material and is covered by the Company′s underground
injection control permit and reactivated NRC license which covers 27.4
million pounds of in-place mineralized uranium material for the
Company′s Churchrock/Crownpoint Project.

• 
  The Company currently has its NRC and underground injection control
  permit in timely renewal which enables URI to begin development of
  Churchrock Section 8.
  
• 
  URI completed a technical report on its Churchrock project at the end
  of 2011 and subjected it to a peer review by an independent
  engineering firm in order to validate the economic determinations and
  engineering plans. The report is currently being reviewed by the
  management and Board of Directors.
  
• 
  Infrastructure construction and core and definition drilling is
  planned to begin in the second quarter 2012. Advancement of the
  project will be dependent upon the availability of financing and
  access to required capital equipment.
  
• 
  Current plans are to initially transport uranium loaded resin to
  either URI′s Kingsville Dome or Rosita processing facility. This is to
  accelerate production, reduce capital costs and advance cash flow from
  the Churchrock Section 8 project.
  
• 
  In June 2011, URI received confirmation from the New Mexico
  Environment Department ('NMED?) that its discharge plan is in timely
  renewal and that the NMED is currently conducting technical review of
  its renewal application. Eastern Navajo Din? Against Uranium Mining
  ('ENDAUM?), the intervener group that has been a party to much of the
  New Mexico based litigation filed against the Company in the past,
  filed last summer, a Complaint for Declaratory and Injunctive Relief
  and a Motion for Preliminary Injunction against the New Mexico
  Environment Department ('NMED?) claiming NMED has no authority to
  allow the Company to conduct in situ leach uranium mining
  operations under its existing discharge permit while the permit is in
  timely renewal. A hearing for summary judgment on the filing was held
  on March 8, 2012.
  

URI′s strategy includes the consolidation of assets in New Mexico in
order to gain greater economies of scale for production. On March 1,
2012, the Company announced that it had signed a definitive agreement to
acquire 100% of the equity capital of Neutron in a stock-for-stock
transaction. This was the first major consolidation move in New Mexico
in over 20 years and positions URI as one of the largest uranium
development companies in the U.S. It also executed a financing agreement
in conjunction with the transaction. The acquisition requires URI′s and
Neutron′s shareholder approval and is expected to close in the third
quarter of 2012.

• 
  Neutron is a private uranium exploration and development company with
  significant assets located in the Grants Mineral Belt of New Mexico
  including the Cebolleta and Juan Tefoya projects. The acquisition
  brings 18.6 million tons of mineralized material at a weighted average
  grade of 0.15%. Neutron also has properties in South Dakota and
  Wyoming. Combined, the companies will have over 206,000 acres of
  uranium holdings.
  
• 
  Neutron will be acquired debt-free as a result of the transaction. A
  total of 37 million shares of URI common stock will be issued in
  connection with the transactions contemplated by the merger agreement,
  including 3.8 million shares to Neutron's stockholders, resulting in a
  total consideration of $38.1 million, based on URI′s closing stock
  price on February 24, 2012 of $1.03.
  

Strengthened Liquidity Position

Cash at December 31, 2011, was $2.9 million compared with $5.4 million
at September 30, 2011. The decrease from the sequential third quarter
reflects ongoing reclamation activities in Texas, the costs associated
with the feasibility study and Neutron acquisition, and $500,000 for
collateralizing URI′s financial surety obligations. URI expects to
receive by March 15, 2012, $10 million in cash associated with the
financing and merger transaction. In addition, the Company can, at its
option, receive an additional $5 million at the closing of the merger.

On October 28, 2011, URI entered into an At-The-Market Sales Agreement
('ATM?) with BTIG, LLC, allowing it to sell from time to time, its
common shares having an aggregate offering price of up to $15.0 million,
through an 'at-the-market? equity offering program. During November and
December, URI sold 476,644 shares of common stock which resulted in net
proceeds of approximately $325,000. During January 2012, 1,815,073
shares of common stock were sold for approximately $1,519,000. The
Company has a total of $12.9 million available for future sales under
the ATM.

Mr. Ewigleben concluded, 'We have made significant strides in our
efforts to advance our New Mexico and Texas properties and consolidate a
larger asset base in New Mexico. We believe that we are positioning the
Company to capitalize on the long-term solid fundamentals of the uranium
industry. Despite the tragic tsunami in Japan last year that led to the
events at the Fukushima nuclear power facility, we believe that global
plans for nuclear power expansion to meet the demands of emerging
economies will support a strengthened price environment for uranium to
support the needed development of uranium projects. We expect that we
will be able to gain from these macro economic factors as we develop our
projects and move toward production in 2013.?

Teleconference and Webcast

URI will host a conference call and webcast today at 11:00 a.m. ET.
During the call, management will provide an update on URI′s strategies,
outlook, and progress in advancing its Texas and New Mexico properties.
A question-and-answer session will follow.

The URI conference call can be accessed by dialling (201) 689-8471. The
live listen-only audio webcast can be monitored on the Company′s website
at www.uraniumresources.com,
where it will be archived afterwards.

A telephonic replay will be available from 2:00 p.m. ET the day of the
teleconference until Friday, March 16, 2012. To listen to the archived
call, dial (858) 384-5517 and enter replay pin number 387136. A
transcript will also be placed on the Company′s website, once available.

About Uranium Resources, Inc.

Uranium Resources Inc. explores for, develops and mines uranium. Since
its incorporation in 1977, URI has produced over 8 million pounds of
uranium by in-situ recovery (ISR) methods in the state of Texas. URI
also has 183,000 acres of uranium mineral holdings and 101.4 million
pounds of in-place mineralized uranium material in New Mexico and an NRC
license to produce up to 1 million pounds of uranium per year. The
Company acquired these properties over the past 20 years along with an
extensive information database of historic mining logs and analysis.
None of URI′s properties is currently in production.

URI′s strategy is to fully develop its resource base in New Mexico and
Texas, expand its asset base both within and outside of New Mexico and
Texas, partner with larger mining companies that have undeveloped
uranium assets or with junior mining companies that do not have the
mining experience of URI, as well as provide restoration expertise to
those that require the capability or lack the proficiency.

Uranium Resources routinely posts news and other information about the
Company on its website at www.uraniumresources.com.

Additional Information

Uranium Resources, Inc., a Delaware corporation ('URI?) entered into,
among other transaction documents, a definitive merger agreement on
March 1, 2012, by and among URI, URI Merger Corporation, a Nevada
corporation and an indirect wholly-owned subsidiary of URI ('Merger
Sub?), and Neutron Energy, Inc., a Nevada corporation ('Neutron?) under
which Merger Sub will be merged with and into Neutron, with Neutron
continuing as the surviving corporation and becoming an indirect
wholly-owned subsidiary of URI (the 'Transaction?). In connection with
the proposed Transaction, URI will file a registration statement on Form
S-4, a joint proxy statement/prospectus and other relevant documents
with the Securities and Exchange Commission (the 'SEC?). Stockholders
are urged to read the registration statement and joint proxy
statement/prospectus when they become available, and any other relevant
documents filed with the SEC, as well as any amendments or supplements
to those documents, because they will contain important information. The
registration statement and joint proxy statement/prospectus, once
available, as well as other filings containing information about URI and
Neutron, can be obtained without charge at the SEC′s website (http://www.sec.gov)
or by directing a request to URI: Deborah K. Pawlowski, 716.843.3908, dpawlowski@keiadvisors.com.

URI and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of URI
in connection with the proposed Transaction. Information about the
directors and executive officers of URI is set forth in the proxy
statement for URI′s 2011 annual meeting of stockholders, as filed with
the SEC on April 29, 2011. Additional information regarding the
interests of those participants and other persons who may be deemed
participants in the proposed Transaction may be obtained by reading the
joint proxy statement/prospectus regarding the proposed Transaction when
it becomes available. Investors may obtain free copies of these
documents as described above.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as 'expects,? 'estimates,? 'projects,?
'anticipates,? 'believes,? 'could,? and other similar words. All
statements addressing operating performance, events, or developments
that the Company expects or anticipates will occur in the future,
including but not limited to statements relating to the Company′s
mineralized uranium materials, access to properties, timing of receipt
of mining permits, production capacity of mining operations planned for
properties in South Texas and New Mexico, planned dates for commencement
of production at such properties, revenue, cash generation and profits
are forward-looking statements. Because they are forward-looking, they
should be evaluated in light of important risk factors and
uncertainties. These risk factors and uncertainties include, but are not
limited to, receiving shareholder approval of the Neutron transaction,
realizing the benefits of the merger and resource development synergies,
the exploration upside of the acquired properties, the Company′s ability
to acquire other properties, the benefit of permitting on private lands,
the effect of additional major investors with mining investment
experience, the spot price and long-term contract price of uranium,
weather conditions, operating conditions at the Company′s mining
projects, government regulation of the mining industry and the nuclear
power industry, world-wide uranium supply and demand, availability of
capital, timely receipt of mining and other permits from regulatory
agents and other factors which are more fully described in the Company′s
documents filed with the Securities and Exchange Commission. Should one
or more of these risks or uncertainties materialize, or should any of
the Company′s underlying assumptions prove incorrect, actual results may
vary materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company′s forward-looking
statements. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of the
forward-looking statements contained in this news release.

Uranium Resources, Inc.

Don Ewigleben, 972.219.3330

President
& Chief Executive Officer

or

Investors:

Kei
Advisors LLC

Deborah K. Pawlowski, 716.843.3908

dpawlowski@keiadvisors.com

or

Media:

Mat
Lueras, 505.269.8317

Vice President, Corporate Development

mlueras@uraniumresources.com