Uranium Energy Corp Announces Closing of Offering

Uranium Energy Corp Announces Closing of Offering

Corpus Christi, TX, April 10, 2012 - Uranium Energy Corp (NYSE AMEX: UEC,
the 'Company') is pleased to announce the closing of its previously
announced public offering (the 'Offering') of shares of its common stock,
$0.001 par value per share (each a 'Share' and, collectively, the
'Shares'). The Company sold 6,246,078 Shares at a price of $3.60 per
Share, for gross proceeds of $22,485,880, which includes 686,078 Shares
sold pursuant to an over-allotment option exercised by the placement
agents.

The Company offered and sold the Shares pursuant to an agency agreement
dated April 2, 2012 between the Company and a syndicate of placement agents
with Dundee Securities Ltd. acting as the lead placement agent and sole
bookrunner in connection with the Offering. The syndicate of placement
agents included Global Hunter Securities LLC, CIBC World Markets Inc. and
Haywood Securities Inc. The Company granted the placement agents an
option, exercisable in whole or in part, at the sole option of Dundee
Securities Ltd., on behalf of the placement agents, to place up to an
additional 15% of the Offering (that is, an additional 834,000 Shares), at
$3.60 per Share. Dundee Securities Ltd. exercised this option with respect
to 686,078 Shares.

The Company anticipates that the net proceeds from the Offering will be
used to fund exploration and development expenditures at the Company's
projects and for general corporate and working capital purposes.

The Shares were offered by the Company pursuant to a prospectus supplement
to the Company's effective shelf registration statement on Form S-3 (File
No. 333-176406) previously filed with the Securities and Exchange
Commission (the 'SEC') and pursuant to a prospectus supplement to the
Company's shelf prospectus filed with certain Canadian regulators in each
of the provinces of Canada, except Quebec, pursuant to the
multi-jurisdictional disclosure system.

Copies of the prospectus supplement and accompanying base prospectus
relating to the Offering may be obtained from the SEC website as
http://www.sec.gov, from the System for Electronic Document Analysis and
Retrieval website at http://www.sedar.com or from the lead placement agent
at:

Dundee Securities Ltd.
Suite 2000, Dundee Place
1 Adelaide Street East, Toronto, Ontario, M5C 2V9
Tel: (416) 849-7887

This press release does not and shall not constitute an offer to sell or
the solicitation of an offer to buy any of the securities, nor shall there
be any sale of the securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration of
qualification under the securities laws of any state or jurisdiction.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium production, development and
exploration company operating North America's newest emerging uranium mine.
UEC'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 is ramping up initial production, and the Goliad
in-situ recovery project which has been granted its Mine Permit and is in
the initial stages of mine construction. UEC'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. For further information
review the Company's filings with the SEC at www.sec.gov or visit the
Company's profile on the SEDAR website at www.sedar.com.

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, labor 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.

Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Many of these factors
are beyond the Company's ability to control or predict. Important factors
that may cause actual results to differ materially and that could impact
the Company and the statements contained in this news release can be found
in the Company's filings with the Securities and Exchange Commission. For
forward-looking statements in this news release, the Company claims the
protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. The Company assumes
no obligation to update or supplement any forward-looking statements
whether as a result of new information, future events or otherwise. This
press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities.


End of Corporate News

Unternehmen: Uranium Energy Corp. - ISIN: US9168961038