NYSE American: UEC

Transformative Past with Wyoming ISR Manufacturing Restart, 100% Unhedged Uranium Publicity and Next Accretive Acquisition of Rio Tinto’s Sweetwater Plant and Wyoming Uranium Property

Highlights:

• A success startup of uranium manufacturing on the past-producing Christensen Ranch in-situ medication (“ISR“) operations and Irigaray Central Processing Plant (“CPP“) in Wyoming’s Powder River Basin.
• South Texas hub-and-spoke ISR manufacturing platform making robust advance with higher assets at Burke Hole Undertaking and construction plans for the development of a satellite tv for pc facility to the Hobson CPP.
• Advancing the Roughrider Undertaking in Canada’s Japanese Athabasca Basin with environmental baseline, technical research and certain drill effects important to the invention of Roughrider North, 850 meters northeast of the Roughrider attic.
• UEC’s attributable assets now overall 230.0 million kilos U₃O₈ within the Slow and Indicated Sections and 102.7 million kilos U₃O₈ within the Inferred section throughout all its tasks⁽¹⁾, cementing UEC’s condition as one of the most greatest and varied North American targeted uranium firms.
• Over 1,466,000 kilos of U₃O₈ inventories as of July 31, 2024 valued at $125.3 million at marketplace value⁽²⁾. Taking deliveries of an supplementary 700,000 kilos of U₃O₈ at a mean price of $38.20 in keeping with pound thru December 2025. 
• Roughly $331.5 million of money, fairness holdings⁽³⁾ and stock⁽²⁾ at marketplace costs, and incorrect debt, as of July 31, 2024.
• Landmark assurance with Rio Tinto The usa Inc. (“Rio Tinto“) to procure 100% of Rio Tinto’s Sweetwater Plant and a portfolio of uranium mining tasks in Wyoming, developing a 3rd U.S. hub-and-spoke ISR manufacturing platform inside of UEC’s pure-play uranium trade.
• Completed a Sustainalytics Score of 23.8, putting UEC because the important uranium mining corporate and within the supremacy 5^th percentile of the Assorted Metals and Mining Subindustry as rated by means of Morningstar Sustainalytics (as of September 2, 2024).

CORPUS CHRISTI, Texas, Sept. 27, 2024 /PRNewswire/ – Uranium Power Corp (NYSE American: UEC), (the “Company” or “UEC“) is happy to document that it has filed its Annual Record on Method 10-Okay for the fiscal occasion ended July 31, 2024 with the U.S. Securities and Change Fee (the “SEC“). The Annual Record submitting, which contains the Corporate’s audited consolidated monetary statements, similar notes thereto and control’s dialogue and research for its fiscal occasion 2024, is to be had for viewing at the SEC’s web site at www.sec.gov and at the Corporate’s web site at www.uraniumenergy.com.

Amir Adnani, CEO and President, mentioned: “Fiscal 2024 proved to be a year of successful transformative growth for UEC with the restart of production at our Christensen Ranch ISR operations in Wyoming. At the same time, we continued to advance our Roughrider and Burke Hollow projects with resource expansions and development programs respectively.”

Mr. Adnani persisted: “We are also thrilled with the recent acquisition from Rio Tinto of the fully-licensed Sweetwater Plant and a portfolio of uranium properties, which adds approximately 175 million pounds of historical uranium resources⁽⁴⁾. These assets will unlock tremendous value, by establishing our third hub-and-spoke production platform, and cements UEC as the leading uranium developer in Wyoming and the U.S.”

Mr. Adnani concluded, “Global demand for nuclear energy and uranium is surging, highlighted by the proposed Three Mile Island Unit 1 restart to support Microsoft’s AI data center expansion. The U.S. and European Union Russian uranium bans and Russia’s recent signaling of future export restrictions, emphasize the need for reliable domestic supply chains to meet Western nuclear fuel supply requirements. As the demand side pressure increases, UEC remains 100% unhedged. Our balance sheet is debt free with approximately $331.5 million in cash, equity holdings and inventory at market prices on July 31, 2024, providing the financial strength to rapidly expand and develop our U.S. ISR production platforms and Canadian assets, including the Roughrider Project.”

Notes:

The technical data on this information leave has been reviewed and authorized by means of Chris Hamel, P.Geo., Vice President Exploration, Canada, for the Corporate, being a Certified Individual as outlined by means of Law S-Okay 1300.

About Uranium Power Corp

Uranium Power Corp is the quickest rising provider of the gas for the fairway power transition to a low carbon occasion. UEC is the biggest, varied North American targeted uranium corporate, advancing the after hour of low cost, environmentally pleasant ISR mining uranium tasks in the US and high-grade standard tasks in Canada. The Corporate has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. Those two manufacturing platforms are anchored by means of totally operational Central Processing Vegetation (“CPPs”) and served by means of seven U.S. ISR uranium tasks with all their main lets in in park. In August 2024, manufacturing started on the Christensen Ranch undertaking in Wyoming, sending uranium loaded resin to the CPP at Irigaray (Wyoming hub).  Moreover, the Corporate has varied uranium holdings together with: (1) one of the most greatest bodily uranium portfolios of U.S. warehoused U₃O₈; (2) a big fairness stake in Uranium Royalty Corp., the one royalty corporate within the sector; and (3) a Western Hemisphere pipeline of useful resource level uranium tasks. The Corporate’s operations are controlled by means of execs with many years of hands-on revel in in the important thing aspects of uranium exploration, construction and mining.

Conserve Change Knowledge:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

Defend Harbor Remark

Except for for the statements of historic reality contained herein, the ideas introduced on this information leave constitutes “forward-looking statements” as such time period is impaired in acceptable United States and Canadian securities regulations. Those statements relate to analyses and alternative data which can be in line with forecasts of occasion effects, estimates of quantities now not but determinable and guesses of control. Any alternative statements that categorical or contain discussions with appreciate to predictions, expectancies, ideals, plans, projections, goals, guesses or occasion occasions or efficiency (continuously, however now not all the time, the use of phrases or words reminiscent of “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “would possibly”, “may”, “would”, “would possibly” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such ahead browsing statements contain identified and unknown dangers, uncertainties and alternative components which would possibly purpose the latest effects, efficiency or achievements of the Corporate to be materially other from any occasion effects, efficiency or achievements expressed or implied by means of such forward-looking statements. Such dangers and alternative components come with, amongst others, the latest result of exploration actions, diversifications within the underlying guesses related to the estimation or realization of mineral assets, occasion mineral useful resource estimates would possibly range from historical estimates, the supply of capital to capitaltreasury methods and the ensuing dilution led to by means of the elevating of capital throughout the sale of stocks, injuries, exertions disputes and alternative dangers of the mining business together with, with out limitation, the ones related to the climate, delays in acquiring governmental approvals, lets in or financing or within the crowning glory of construction or building actions, name disputes or claims boundaries on insurance policy. Even supposing the Corporate has tried to spot notable components that would purpose latest movements, occasions or effects to vary materially from the ones described in forward-looking statements, there is also alternative components that purpose movements, occasions or effects to not be as expected, estimated or meant. Many of those components are past the Corporate’s skill to keep watch over or expect. There will also be incorrect commitment that such statements will end up to be correct as latest effects and occasion occasions may vary materially from the ones expected in such statements. Accordingly, readers must now not park undue reliance on forward-looking statements contained on this information leave and in any report referred to on this information leave. Impressive components that can purpose latest effects to vary materially and that would affect the Corporate and the statements contained on this information leave will also be discovered within the Corporate’s filings with the Securities and Change Fee. For forward-looking statements on this information leave, the Corporate claims the safety of the barricade harbor for forward-looking statements contained within the Non-public Securities Litigation Reform Employment of 1995. The Corporate assumes incorrect legal responsibility to replace or complement any forward-looking statements whether or not on account of pristine data, occasion occasions or in a different way. This information leave shall now not represent an deal to promote or the solicitation of an deal to shop for securities.

SOURCE Uranium Power Corp

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