Dear Shareholder:

As a result of the Company�s recent financing, a number of institutions covering Uranium Energy Corp have published very positive commentary in their latest research notes. Some of their comments are excerpted below.

Adam Schatzker of RBC Capital, the investment banking branch of Royal Bank of Canada, wrote: �With this equity issue, the recent dismissal of the lawsuit in Texas and positive developments on Goliad's permitting, we believe Uranium Energy is well positioned to become the next, new U.S.-based ISR uranium producer.�

Brian Christie of National Bank Financial, one of the top-six investment dealers in Canada, stated:
�With the funding risk reduced, the permitting process well in hand, and the potential for an M&A transaction, we are raising our NAV multiple to 1.25x from 1.0x.�

Ian Parkinson of CIBC World Markets Inc., the investment banking division of leading Canadian bank, Canadian Imperial Bank of Commerce, published:
"Given UEC's aggressive growth ambitions, we see this financing as a stepping stone to resource base growth or progressing further towards near-term cash flow at Goliad."

Feel free to give us a call at 1-866-748-1030 if you have questions or would like to discuss developments.

Thank you 
Uranium Energy Corp.

Highlights of the Company:

• Poised to become one of the few near-term uranium producers in the world
• Goliad Project: Low anticipated project capex, $25 Million, low projected cash cost
• Technical team experienced with 35 ISR projects in the U.S.
• Low permitting risk in Texas with Final Draft Mine Permit and Final Draft Production Area Authorization in hand
• Low geological risk with shallow deposit amenable to in-situ recovery
• Last major ISR project put into production (in 2005) by UEC team in Texas
• �Security of supply� premium with all projects in the U.S
• Strong upside potential based on comparables

For further information about Uranium Energy Corp (NYSE - AMEX: UEC), please click: www.uraniumenergy.com or call 1.866.748.1030