Uranium Energy Corp.: Uranium Energy Corp Receives Disposal Well Permits for the Goliad Isr Project in South Texas

Uranium Energy Corp Receives Disposal Well Permits for the Goliad ISR
Project in South Texas

Goliad Permitting Advances Following Conclusion of Hearing

Corpus Christi, TX, May 27, 2010 - Uranium Energy Corp (NYSE AMEX: UEC, the
'Company') is pleased to announce that the Texas Commission on
Environmental Quality (TCEQ) has issued both Class I Non-hazardous Waste
Disposal Well Permits for the Company's Goliad in-situ recovery uranium
project in South Texas. This follows the Company's news release dated
September 23, 2009, which reported that the final draft permits for the two
disposal wells had been issued.

The Company is also pleased to report that the public question-and-answer
portion of the remaining hearing process regarding the issuance of final
permits for the Goliad project has now been concluded. The administrative
judge who presided over the hearing will provide non-binding
recommendations to the TCEQ Commissioners who will make a final
determination later this year.

In June 2009, the TCEQ approved the Company's draft Mine Permit and draft
Production Area Authorization for the Goliad project. The TCEQ has sole
discretion and authority to grant the Company its Mine Permit and PAA, and,
when issued, would allow the Company to install the initial wellfield and
commence production at Goliad.

In Texas, uranium producers and near-term producers deal with one agency,
the TCEQ, for all required and related permits and licenses. Significant
progress has been made in processing the applications, and a brief update
of the permit status follows:

Status of Permitting Progress at the Goliad Project

a. Class 1 Non-hazardous Waste Disposal Well Permits - Both Class I
Non-hazardous Waste Disposal Well Permits for the Company's Goliad
in-situ recovery uranium project in South Texas have been issued.

b. Production Area Authorization (PA-1) - The Company received a draft
authorization and the TCEQ Commissioners will make a final
determination later this year.

c. Mine Permit - The final draft mine permit has been issued and TCEQ
Commissioners will make a final determination later this year.

d. Permit by Rule - The proposed Goliad operation was evaluated by TCEQ
for an air quality permit and it was determined that since the
operation will not produce significant air contaminants, TCEQ issued
the Company a Permit by Rule

e. Radioactive Material License - TCEQ is conducting its technical review
of the Radioactive Material License Application. The Company stands
ready to promptly respond to TCEQ's request for additional information
that may be needed to complete the technical review of the application.

f. The U.S. Army Corps of Engineers issued the Company a Jurisdictional
Determination in August 2008. Because the project will not impact
waters of the U.S., a 404 permit is not required.

g. A Cultural Resource Survey and Assessment was completed by an
independent expert. The Survey concluded that the Goliad Project will
not have any impact on cultural resources in the permit area, and that
no further work is required on this matter by the Company. As required
by the rules, the Texas Historical Commission reviewed the assessment
and concurred, in July 2008, that the project will not have a
significant impact on cultural resources.

h. Texas Parks and Wildlife has completed its review of the proposed mine
plan and concluded in May 2008 that there will be no significant impact
to wildlife.

About Uranium Energy Corp

Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based exploration and
development company with the objective of near-term uranium production in
the U.S. The Company's fully licensed and permitted Hobson processing
facility is central to all of its projects in South Texas, including the
fully-permitted Palangana in-situ recovery project, and the Goliad in-situ
recovery project which is in the final stages of mine permitting for
production. The Company's operations are managed by professionals with a
recognized profile for excellence in their industry, a profile based on
many decades of hands-on experience in the key facets of uranium
exploration, development and mining.

Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com

Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the
information presented in this news release constitutes 'forward-looking
statements' as such term is used in applicable United States and Canadian
laws. These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Any other statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
'expects' or 'does not expect', 'is expected', 'anticipates' or 'does not
anticipate', 'plans, 'estimates' or 'intends', or stating that certain
actions, events or results 'may', 'could', 'would', 'might' or 'will' be
taken, occur or be achieved) are not statements of historical fact and
should be viewed as 'forward-looking statements'. Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
risks and other factors include, among others, the actual results of
exploration activities, variations in the underlying assumptions associated
with the estimation or realization of mineral resources, the availability
of capital to fund programs and the resulting dilution caused by the
raising of capital through the sale of shares, accidents, labour disputes
and other risks of the mining industry including, without limitation, those
associated with the environment, delays in obtaining governmental
approvals, permits or financing or in the completion of development or
construction activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will
prove to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news release.

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27.05.2010 14:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de

Unternehmen: Uranium Energy Corp. - ISIN: US9168961038