Uranerz Included in the Russell Family of Indexes

CASPER, WYOMING, Jun 30 (MARKET WIRE) --
Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX: URZ)(NYSE
Amex: URZ)(FRANKFURT: U9E) is pleased to announce that it has been
included in the Russell family of indexes, including the Russell 3000(R)
Index, the Russell 2000(R) Index, the Russell Microcap(R) Index, and the
Russell Global Index.

Annual reconstitution of Russell's U.S. indexes captures the 4,000
largest U.S. stocks as of the end of May, ranking them by total market
capitalization. Membership in the Russell 3000, which remains in place
for one year, means automatic inclusion in the appropriate growth and
value style indexes. Russell determines membership for its equity indexes
primarily by objective, market-capitalization rankings and style
attributes.

Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. An industry-leading $4 trillion in assets
currently are benchmarked to them. More information about membership in
the Russell Indexes can be found at:
http://www.russell.com/indexes/membership/default.asp.

About Uranerz

Uranerz Energy Corporation is a pure-play uranium company listed on the
NYSE Amex Exchange and the Toronto Stock Exchange under the symbol "URZ",
and is also listed on the Frankfurt Stock Exchange under the symbol "U9E".

Members of the Uranerz management team have specialized expertise in the
in-situ recovery ("ISR") uranium mining method, and the Company
collectively owns or controls approximately 124,200 acres (50,255
hectares or 194 square miles) in the Pumpkin Buttes Uranium Mining
District of the central Powder River Basin of Wyoming, U.S.A., an area
well-known for hosting uranium-mineralized roll fronts often amenable to
ISR mining techniques.

The Company has submitted federal and state mining applications to build
and operate the Nichols Ranch ISR Uranium Project which, when licensed
and constructed, is planned to consist of a central processing facility
at the Nichols Ranch property and a satellite facility at the Hank
property. Commercial ISR mining in the Powder River Basin has been
ongoing since 1987, with production coming from the Smith Ranch-Highland
mine currently owned and operated by Cameco Resources Inc. and from AREVA
NC's Irigaray-Christensen Ranch ISR mine located in the Pumpkin Buttes
uranium mining district (presently on stand-by, but re-start of
operations has been announced). Commencement of operations at the Nichols
Ranch ISR Uranium Project is dependent on receipt of required regulatory
approvals.

ISR mining comprised 29% of global uranium production in 2007 according
to the World Nuclear Association. Wyoming ISR advantages include low
capital costs, low operating costs, and low environmental impact. Wyoming
is the largest uranium producer in the United States with a long ISR
history and has the largest known uranium resource base in the U.S.
Uranerz management has a record of licensing commercial ISR projects.

Further Information

For further information, contact the Company's Investor Relations
department at 1-800-689-1659 or please refer to the Company's website at
www.uranerz.com, review the Company's filings with the Securities and
Exchange Commission at www.sec.gov, or visit the Company's profile on the
SEDAR website at www.sedar.com.

This press release may contain or refer to "forward-looking information"
and "forward-looking statements" within the meaning of applicable United
States and Canadian securities laws, which may include, but is not
limited to, statements with respect to resource estimates, permitting and
development activities, projections, our planned exploration and drilling
programs, the availability of future financing for exploration and other
plans, projections, estimates and expectations. Such forward-looking
statements reflect our current views with respect to future events and
are subject to certain risks, uncertainties and assumptions, including,
the risks and uncertainties outlined in our most recent financial
statements and reports and registration statement filed with the SEC
(available at www.sec.gov) and with Canadian securities administrators
(available at www.sedar.com). Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated,
believed, estimated or expected. We do not undertake to update
forward-looking statements, except as required by law.

Contacts:
Uranerz Energy Corporation
Investor Relations
1-800-689-1659
www.uranerz.com

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