Uranium Energy Corp Expands Land Position in Arizona with Acquisition of Coyote Ranch Project

AUSTIN, TEXAS, Jan 22 (MARKET WIRE) --
Uranium Energy Corp (AMEX: UEC)(FRANKFURT: U6Z)(BERLIN: U6Z) announces
that it has acquired the Coyote Ranch Project in Arizona. This
strategically situated project is comprised of approximately 1,120 acres
of state leases located in eastern Apache County. The project compliments
the Company's recently acquired Red Basin Project in neighboring Catron
County, New Mexico (For more information about this project, please see
the Company's news release dated December 5, 2007). The acquisition of
this project was driven by the Company's evaluation of its Halterman
Database (For more information about this database, please see the
Company's news release dated January 9, 2007).

The Coyote Ranch Project covers an area of relatively shallow, high-grade
uranium mineralization drilled by Occidental Minerals in the Tertiary de
Baca Formation, which is immediately above the contact with the
Cretaceous Mesaverde Group. The Coyote Ranch Project is approximately 10
miles east-northeast of Springerville, Arizona, and five miles west of
the New Mexico state line. The Company's Red Basin Project is
approximately 30 miles to the northeast of the Coyote Ranch Project, and
within the same geologic formation.

The Company possesses 57 electric logs drilled and recorded by Occidental
Minerals in 1981, showing standard geophysical measurements of resistance
and spontaneous potential, both of which can determine rock
characteristics. Calibrated gamma-ray results are also available and were
analyzed. Of the 57 logs, 6 were barren, or showed no anomalous gamma
activity, 37 showed anomalous gamma activity, and 14 showed high-grade
uranium mineralization as evidenced by gamma-ray values of 400 to
approximately 3,500 counts per second. The mineralization occurs at
depths between 100 and 200 feet, and appears to be below the water table
and therefore possibly amenable to ISR mining, however verification of
the groundwater saturation extent will be addressed by the Company's
drilling programs.

The project is positioned on the margin of two physiographic provinces,
the Colorado Plateau and Basin and Range Province. The Tertiary age de
Baca formation outcrops along this provincial margin trend from just
north of Magdalena, New Mexico, to its western most extent, just west of
Coyote Ranch, or an approximate 130-mile trend in total. This trend was
the subject of intense exploration activities during the last uranium
cycle from companies such as Kerr-McGee, Pioneer Nuclear, Gulf Minerals,
Occidental Minerals, Energy Reserves Group, and United Nuclear Corp/Teton.

Historic production grades, as reported by the New Mexico Bureau of Mines
and Mineral Resources in the Arizona-New Mexico de Baca trend average
0.17% U3O8. The disclosure related to the historic production grades has
not been independently verified. The statement is considered relevant,
but cannot be relied upon without verification.

The Company's evaluation of this prospective uranium play is ongoing, and
it plans to increase its land position both in Arizona and New Mexico.
The Company will initiate a mapping and sampling program on this project
within the coming year.

The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Clyde L. Yancey, P.G., Vice President
of Exploration for Uranium Energy Corporation, a qualified person under
NI 43-101.

About Uranium Energy Corp

Uranium Energy Corp (AMEX: UEC) is a US-based junior resource company
with the objective of becoming a near-term ISR uranium producer in the
United States. The Company controls one of the largest historical uranium
exploration and development databases in the US. Through the use of these
databases, the Company has acquired advanced uranium properties
throughout the southwestern US. The operational management is comprised
of pre-eminent uranium mining and exploration professionals, whose
collective experience in the uranium mining industry gives the Company
ongoing uranium mine-finding and uranium mine development expertise.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as amended,
and Section 21E of the United States Securities and Exchange Act of 1934,
as amended. Statements in this news release, which are not purely
historical, are forward-looking statements and include any statements
regarding beliefs, plans, expectations or intentions regarding the
future. These statements involve risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements contained herein. Such risks and uncertainties
may include, but are not limited to, the impact of competitive products,
the ability to meet customer demand, the ability to manage growth,
acquisitions of technology, equipment or human resources, the effect of
economic and business conditions, the ability to attract and retain
skilled personnel and factors outside the control of the Company. These
forward-looking statements are made as of the date of this news release,
and the Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ from
those projected in the forward-looking statements. Although the Company
believes that the beliefs, plans, expectations and intentions contained
in this news release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be accurate.
Investors should consider all of the information set forth herein and
should also refer to the risk factors disclosed in the Company's periodic
reports filed from time-to-time with the United States Securities and
Exchange Commission. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.

Contacts:
Uranium Energy Corp
Investor Relations
Toll Free: 1-866-748-1030 or (604) 682-9775
(604) 682-3591 (FAX)
Email: info@uraniumenergy.com

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