UEC

Business Context and Reporting Period

Company: Uranium Energy Corp. (UEC)
Filing Type: Form 8-K (Current Report)
Date: August 20, 2024
Subject: Regulation FD Disclosure regarding exploration drill results from the Roughrider Project in Northern Saskatchewan, Canada.

Key Financial Metrics

This filing is an operational update and does not contain financial statements. No data regarding revenue, profit, cash flow, margins, debt, or liquidity is provided in this document.

Material Changes and Operational Highlights

• Significant Drill Intersections: Drill hole RR-940, located 850m northeast of the Roughrider Deposit, intersected the best hole to date outside the resource area.
  • 6.96% eU₃O₈ over 13.5m.
  • Higher-grade sub-interval: 12.7% eU₃O₈ over 7.2m.
• Technology Deployment: Utilization of new Ambient Noise Tomography (ANT) survey technology identified new targets along existing exploration corridors.
• Continuity Evidence: Mineralization intersected in multiple holes between the East and Far East Zones suggests likely continuity.
• Drilling Campaign: The company is utilizing three drills to accelerate work, with plans to drill an additional 25 holes in the Roughrider north exploration corridor.

Guidance, Outlook, and Management Commentary

Management Commentary: Chris Hamel, VP Exploration Canada, stated that results have exceeded expectations and that the project is advancing on parallel tracks including economic studies, environmental assessments, and aggressive drilling.

Next Steps:

1. Continue growing resources with 25 additional holes this summer.
2. Advance the Initial Assessment (IA) Technical Report Summary (TRS), which is substantially complete and anticipated in coming months.
3. Proceed with Environmental Assessment (EA) baseline studies and community engagement for licensing and permitting.

Verification Status: Samples from all holes have been collected for assay analysis to confirm radiometric equivalent grades (eU₃O₈). Results are expected in the coming weeks.

Investor Verification Checklist

• Confirm the assay results for the reported radiometric equivalent grades (eU₃O₈) once released.
• Monitor the progress of the Initial Assessment (IA) Technical Report Summary.
• Track the status of Environmental Assessment (EA) baseline studies and permitting.
• Review future drill results from the 25 planned holes in the north exploration corridor.