Database Includes 37 Years of Detailed Uranium Exploration and Development Results Across the US, Canada and Australia

AUSTIN, TX – March 12, 2008 – Uranium Energy Corp (AMEX:UEC) announces the acquisition of the historic Kerr-McGee uranium database from Tronox Worldwide LLC, a spin-off of the former uranium-producing giant. The information acquired constitutes one of the largest uranium databases of its kind, covering nearly every US state (with the exception of Wyoming and New Mexico), Canada and Australia, and consists of the exploration and development results by one of the largest uranium mining companies in the US between 1952 and 1989. Kerr-McGee was purchased by Anadarko Petroleum in 2006.

Kerr-McGee was the first oil company to enter the uranium industry when it acquired mining properties in Arizona in 1952. By the time the company divested its uranium interests in 1989, it had explored hundreds of properties and developed and produced more than 100 million pounds of U3O8., including production in six of the eight parts of the nuclear fuel cycle, including exploration, mining, milling, conversion of uranium oxide into uranium hexafluoride, pelletizing and fabrication of fuel elements.

The database consists of approximately 300 containers of maps, geologic reports, prospects, assays, electric logs of exploration and development drill holes, resource evaluations, engineering feasibility analyses, economic evaluations and details of advanced-stage development projects. The drill hole data includes the results from more than half a million feet of drilling. The database also contains extensive Airborne Radiometric Detection Apparatus (ARDA) results representing airborne radiometric surveys across known and highly potential uranium-bearing regions of the US. The ARDA technology was developed by and proprietary to Kerr McGee.

Uranium Energy has immediate applications for this information. Company geologists will, first, review and prioritize the data that adds to the exploration and development of the Company’s current projects. This work will primarily focus on the Company’s holdings in Texas, the Colorado Plateau and Arizona. Company geologists will utilize the data to generate new prospects and projects for acquisition and exploration. In addition, data that relates to existing projects currently managed by other uranium exploration companies will be prepared for use in possible business arrangements with these companies.

Amir Adnani, president and CEO, stated: “The Kerr-McGee database is the twelfth database now acquired by Uranium Energy Corp. This library of all twelve databases contains well over five million feet of uranium drill results covering Australia, Canada and virtually every state in the US, specifically concentrated on the main uranium-producing states: NM, WY, TX, CO, UT, AZ, and NV. From this data, the Company has acquired and is assessing or actively exploring key projects in WY (2), TX (4), NM (4), AZ (2), and the Uravan Mineral Belt of CO/UT (3). The Company controls one of the largest uranium exploration and development information libraries in the US and is only starting to realize the value of this asset.”

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

Contact North America: Investor Relations, Uranium Energy Corp
Toll Free: (866) 748-1030
Phone: (604) 682-9775
Fax: (604) 682-3591
E-mail: info@uraniumenergy.com

Stock Exchange Information:
American Stock Exchange Symbol: UEC
Frankfurt Stock Exchange Symbol: U6Z
Berlin Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US9168961038