DGAP-News: Uranium Energy Corp. english

DGAP-News: Uranium Energy Corp. english


Miscellaneous

Uranium Energy Corp Rejects Claims in Local Lawsuit

Corporate News transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Uranium Energy Corp Rejects Claims in Local Lawsuit

AUSTIN TX – March 19, 2008 – Uranium Energy Corp today dismissed as
groundless allegations in a local lawsuit apparently filed this week in
Victoria County, Texas; the Company has not yet been served.
The lawsuit
was filed in U.S. District Court by Goliad County and an individual
landowner and alleges infractions of the Safe Drinking Water Act nearby to
areas where the Company is currently drilling. The allegations have
previously been investigated and found to be without merit by the Texas
Railroad Commission, the senior regulatory agency overseeing uranium
exploration efforts in the state.

In a September 2007 letter to the Goliad County Groundwater District, the
Texas Railroad Commission said, '…the agency’s investigation of your
complaint has not revealed any practice or activity at UEC’s Uranium
Exploration Permit 123 that is out of compliance…We consider this
investigation to be closed.' In addition, the Company’s Goliad project has
been inspected by the state agency on a monthly basis since the close of
the investigation, and no violations have been found.

As the state agency noted in an April 2007 letter to the County’s attorney,
the agency hydrologist '…concluded from the available information that no
ground-water contamination has occurred as a result of the drilling
activities.' The state agency concluded its letter by noting that '[t]o
date, the Commission’s investigation of your complaint has not revealed any
practice or activity within the approved permit area that has adversely
affected the wells identified in your complaint or the related aquifer, or
is out of compliance with Texas Uranium Mining Regulations….'

Uranium Energy Corp has assembled one of the most skilled and experienced
teams of experts in the industry, and the Company is dedicated to meeting
or exceeding every applicable environmental standard.

This case will not hamper the current exploration work. Current programs
are approved and administered solely under the jurisdiction of the Texas
Railroad Commission.

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 this industry gives the Company hands-on uranium mine-finding
and development expertise.

Contact North America: Investor Relations, Uranium Energy CorpToll Free:
(866) 748-1030Fax: (512) 233-2531 E-mail: info@uraniumenergy.comStock
Exchange Information: American Stock Exchange Symbol: UECFrankfurt Stock
Exchange Symbol: U6ZBerlin Stock Exchange Symbol: U6ZWKN: AØJDRRISN:
US9168961038
(c)DGAP 20.03.2008
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