Uranium Energy Corp Initiates
Operations at Hobson Processing Facility in South Texas
- First
shipment of uranium loaded resins from Palangana
now received at Hobson, processing has started
- First
wellfield at Palangana
ramping up production
Corpus Christi, TX � December 1, 2010 � Uranium Energy Corp (NYSE AMEX: UEC, the �Company�)
is pleased to announce that the Company has started the processing of the
first shipment of uranium-loaded resins at its Hobson processing plant. This
shipment and the start of processing follows the
Company�s announcement on November 17, 2010 of the initial in-situ recovery
(ISR) of uranium at Palangana in South Texas. The
shipment, received at the Hobson plant on Sunday, November 28, consisted of
500 cubic feet of uranium-loaded resins contained within one of the Company�s
two U.S. Department of Transportation-approved tanker trailers specially
built for this purpose.
Harry Anthony, Chief Operating Officer, stated,
�Hobson is a state-of-the-art processing facility now operating under the
supervision of experienced staff headed by VP Production Bob Underdown and Hobson Superintendent Greg Kroll. We are
confident of standard and secure operations here. We will continue to ramp up
production at the Palangana ISR project and the
Hobson processing facility over the ensuing weeks and months.�
The process of converting uranium loaded resin beads
to marketable yellowcake (U3O8) at Hobson is as follows: stripping the
uranium from the resin beads using a salt solution, precipitating the
yellowcake slurry from the salt solution, filtering it from the remaining
solution, then vacuum drying and packaging the yellowcake into drums for
delivery. For more information on ISR mining, visit www.uraniumenergy.com and view the animated video noted on the home page.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium
production, development and exploration company operating North America�s
newest uranium mine. The Company�s fully licensed and permitted Hobson
processing facility is central to all of its projects in South Texas,
including the Palangana in-situ recovery project,
which has just initiated production, 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: A�JDRR
ISN: US916896103
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