UEC acquires uranium mining project

Uranium Energy Corp. (NYSE AMEX: UEC) said it has acquired the rights to explore for uranium on the Burke Hollow Project, a 17,510-acre property in eastern Bee County, Texas. The previously explored project is situated on the Goliad trend within the South Texas Uranium Belt, and is located approximately 50 miles to the southeast of the UEC’s Hobson uranium processing facility.

Total Minerals, a division of the Total Group, conducted exploration work and drilling on this site in 1993 as part of its South Texas Goliad exploration program.

UEC geologists are currently planning an exploration program to include a drilling campaign that will be initiated upon receipt of exploration permits from the Railroad Commission of Texas.  It is anticipated that the drill program will commence in the next 60 days.

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