DISCLAIMER

Statements contained in this presentation which are not historical facts are forward-looking statements that involve risks,

uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by

such forward- looking statements. Factors that could cause such differences, without limiting the generality of the

following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium; volatility

and sensitivity to capital Market fluctuations; the impact of exploration competition; the ability to raise funds through

private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks

including increased regulatory burdens; unexpected geological or hydrological conditions; a possible deterioration in

political support for nuclear energy; changes in government regulations and policies, including trade laws and policies;

1

political support for nuclear energy; changes in government regulations and policies, including trade laws and policies;

demand for nuclear power; failure to obtain necessary permits and approvals from government authorities; weather and

other natural phenomena; and other exploration, development, operating, financial market and regulatory risks.

Although Uranium Energy Corp. believes that the assumptions inherent in the forward-looking statements are

reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release.

Uranium Energy Corp. disclaims any intention or obligation to update or revise any forward-looking statement, whether

as a result of new information, future event or otherwise.

ABOUT Uranium Energy Corp

BUSINESS MODEL AND MISSION STATEMENT:

� Achieving near-term, low-cost uranium production using In-Situ Recovery (ISR) mining in Texaswhile developing a pipeline of additional significant uranium resources for ongoing major growth across the U.S.

4 KEY COMPETITIVE ADVANTAGES DRIVE THE UEC BUSINESS MODEL TOWARDS PRODUCTION:

FAST TRACK PERMITTING: Texas remains top U.S. jurisdiction for permitting ISR uranium projects.

2

� FAST TRACK PERMITTING: Texas remains top U.S. jurisdiction for permitting ISR uranium projects.The Goliad ISR project is the clear, near-term production leader for investors looking to take part in the growth of the US uranium sector.

� LOW COST ISR MINING: Substantially lower capital expenditure requirements when compared to conventional mining and quicker pay-back schedule for investors.

� TECHNICAL TEAM: Technical team has decades of production track-record combined with a strong corporate team to secure financial resources needed to put projects into production.

� EXCLUSIVE DATA: Control of more than 500,000 ft. of historic drilling reports throughout the Uranium states of WY, AZ, UT, CO, NM, TX for acquiring the most economic new projects.

UEC AT A GLANCE

Share Capital & Cash Position

As of Aug 26, 2009

Cash & Equivalents

Cash / Share

Debt

Shares Outstanding

Shares Fully Diluted

$ 24 M

$0.47

$0

56 M

69.7 M

Market Cap $130 M

Russell 2000 and 3000 Index Member

Recent Closing Price (8/25) = $2.40

52-Week Range $0.16- $3.45

Approx. 1 year from initial production

43-101 U308 = 18.3 M lbs. U3O8

Pre 43-101 U3O8 = 23.2 M lbs. U3O8

Major Shareholders

Management

Institutions Shareholders

Bank Vontobel AG

Westcliff Capital Management

Front Street Capital

Geiger Counter Limited

City of London Investment

Daimler Chrysler Retirement Trust

Total

25 %

30%

Research Coverage

RBC Capital Markets

Dundee Securities

National Bank Financial

Haywood Securities

CIBC World Markets

Versant Partners

3

OFFICERS AND DIRECTORS� Alan Lindsay – Chairman

� Over 30 years of experience in executive management

� Successful founder of public companies in mining and biotech sectors

� Amir Adnani - President, Chief Executive Officer, Director

� An entrepreneur with extensive contacts throughout the financial and mining communities.

� Founder of Blender Media Inc, a financial marketing firm that was named a fastest growing company in Canada

� Harry L. Anthony – Chief Operating Officer, Director

� Internationally recognized expert in the field of ISR uranium mining.

� Pat Obara – Chief Financial Officer

� Experience as a financial officer of TSX-listed companies in mining and technology.

� Erik Essiger – Director

� Over 18 years of international business experience, former manager at PWC in Germany.

� Ivan Obolensky – Director

� 40 years experience in the investment banking business in New York as a research analyst.

� Vincent Della Volpe – Director

� 38 year career as a portfolio manager, with several billions of dollars under management

� Mark Katsumata - Director

� Thirteen years solid experience in financial reporting and Canadian/U.S. securities regulation compliance as Chief Financial Officer/Vice President, Finance of numerous TSX/TSX Venture companies

4

TECHNICAL TEAM

World-renowned ISR expert

with 30 yrs experience

Harry AnthonyChief Operating

Officer

Robert UnderdownGeneral Manager of Texas Operations

Has held senior operational

positions at ISR uranium

mines in Texas since 1978

Joshua LeftwichEnvironmental

Manager

Formerly Manager of

Environmental Health

and Safety at Alta Mesa

ISR uranium mine

Craig HolmesPermitting Manager

30-year career dedicated to permitting of uranium mines

spanning 26 projects in the US.

Curtis SealyVice Presidentof Production

40 years experience

designing and constructing

mines internationally

Clyde YanceyVice Presidentof Exploration

Proven US uranium mine

finder

Ed BrezinskiVice President of Corporate Development

20 years experience with utility

companies, nuclear fuel traders

and brokers

Larry MinterSenior Geologist

Proven discoverer of

uranium ore bodies in the

southwestern United States

Clint MilneSenior Geologist

35 years experience

exploring for uranium in

US with Mobil Oil,

Kennecott Energy and ARCO

Leonard Garcia

Land Leasing

Specialist

30 years experience in title

research, lease negotiation

and land acquisition

Dr. Aiguo BianMine Development

Geologist

Formerly a professor in the Department of Physics and Geosciences at the Texas

A&M University

Andrew Kurrus

Chief Geologist Texas

30 years experience exploring

for uranium in the US

5

THE FUTURE IS NUCLEAR POWER Global reactors connected to the grid

� Today nuclear generates 16% of world’s electricity

� The number of reactors globally:under construction is 45, being planned is 112, and being proposed is 276

6

and being proposed is 276

� Further doubling by 2035 with constant growththere after

� There are 440 nuclear power plants operating in world with 104 in U.S.

� U.S.is the largest consumer of uranium in the world with nuclear supplying ~22% of U.S. electric power

Source: Nuclear Association ( world-nuclear.org)

World Primary Supply vs. Demand2002-2020 – Mid Production Case

�2009: Existing production of 120M needs to be increased by 55% to keep up with existing demand

�Uninterrupted demand for new uranium production sources

60M lb World Deficit

At UEC Production

Start in H2 2010

Source: Uranium Market Outlook

�In 2010 as UEC enters productionthe shortfall will be ~60M lbs/year

New Production

Existing Production

7

Historic Uranium Price 2004-2009 Spot Ux Price & Ux Long Term Contract Price

60M lb World Deficit

At UEC Production

Start in H2 2010

Source: UxC Uranium Market Outlook8

EXPLORATION DATABASES

JURISDICTION PROVIDER YEARS OF DATA DRILL HOLES

US, Canada, Australia Kerr-McGee 40

Maps, Geologic reports,

Engineering feasibility analyses

Texas Continental Oil (now Conoco Phillips) 10 250

Texas Mobil Oil (now ExxonMobil) 20 1,000

Texas Moore Energy 20 1,000Texas Moore Energy 20 1,000

Texas Knupke 40 500

Texas Nueces Mineral Co 10 370

Wyoming Robert Odell (Rocky Mountain Uranium Scout) 50 500

Wyoming NAMMCO (William Kirkwood) 15 500

Wyoming Jebsen 20 130

Arizona Oklahoma Public Services 10 200

15 States Brenniman 9 7,200

5 States Halterman 500

3 States Jebsen II 20 500

9

Project / Historic Operator Stage ResourceMM lbs

Goliad / Moore Energy (NT) 6.9(1)

Nichols / Texaco Corp (NT) 1.3(1)

Cebolleta / Standard Oil of Ohio (D) 10.1(1)

West Ranch / Kerr McGee (E) 2.6

Los Cuatros / Teck Corp 12.0

PROJECTS

Los Cuatros / Teck Corp (E) 12.0

Colorado Plateau / Uravan Minerals

(E) 3.3

Artillery Peak / Oklahoma Public Services

(E) 2.0

Burnt Wagon / Kirkwood Oil (E) 0.5

Grants Ridge / Homestake / Anaconda Mining

(D) 0.24

Carnotite / Uravan Minerals (E) 2.6

Total 41.54

Note: The resources stated are historical in nature. Recent independent verification of the data has not yet been performed. The Company has not completed sufficient exploration to verify the historical resource estimates.

(1) 43-101 Technical Reports completed and available on SEDAR

(E) Exploration (D) In Development (NT) Near Term Production

10

TEXAS ISR: FAST TRACK PERMITTING ADVANTAGE

� Texas is an ‘Agreement State’. The Texas Commission on Environmental Quality (TCEQ) issues the mining permit. No Federal approvals are necessary.

� TCEQ issued a Draft Mine Permit for the Goliad ISR Project, the first in over ten years to a publicly listed company in the U.S.

ISR Capital of the Western World

11

listed company in the U.S.

� All required permitting applications filed with the TCEQ

� 30+ years of uranium mining in Texas, 31 applications made = 31final permits granted.

� Company’s proposed ISR Plant will be capable of processing 2 million pounds U3O8 per year

2

2

2

11

TEXAS ISR: A REGIONAL OPPORTUNITY

� South Texas uranium trend covers 300 miles in over 54 counties.

� 26 of 31 current or historic deposits in trend have been ISR amenable deposits.

� South Texas trend shows good potential to make Goliad a long-term regional uranium production center.

� Company announced 43-101 report on Nichols property for first satellite project.

� UEC technical team has been involved in 35 ISR plants or satellites in the US.

12

RositaURI

GOLIAD ISR PROJECT - OVERVIEW

�Located in Goliad County,

Goliad project is the largest

ISR Uranium Project in

Texas.

� 6.9 million pounds 43-

101 Compliant Resource,

Measured & Indicated 5.4

million pounds and Inferred

1.5 million pounds U3O8.

13

Initial area of confirmation and definition drilling

Exploration Permit ~10,000 acres

(outlined)

� Independent resource

estimate is based on the

results from 1,086 drill

holes, 599 by UEC, 487

historic.

� Exciting “Blue Sky”

Potential- Uranium

mineralization remains open

laterally in all directions.

Resource poised to grow.

Rosita

URI

� Mineralization is in four

sand horizons from

depths of 90 to 450

feet.

� Average thickness of 15

feet and average grade

of 0.075%* across all

four sand horizons.

GOLIAD ISR PROJECT GEOLOGY

Aquiclude orupper confining layer

Surface

14

four sand horizons.

� Project is amenable to

ISR.

� Metallurgical testing has

been independently

reviewed with

recoveries of 86% to

89%.

* Based on a positive chemical/radiometric disequilibrium factor of 1.494. The disequilibrium factor (DEF) refers to the ratio of the actual grade of uranium in the formation to the grade obtained from gamma ray logging.

Aquiclude orlower confining layer – base of D sand

450 Feet

THE ISR MINING PROCESS

� Amenable ISR deposits are located in an aquifer or underground permeable rock, such as sandstone, that is saturated in water

� Ground water fortified with oxidizing agents pumped in to the ore body “in-situ” causing the uranium “in-situ” causing the uranium contained in the ore to dissolve

� Dissolved uranium (U3O8) solution pumped to the surface to be separated processed into a dried form of yellowcake uranium

� Yellowcake is then shipped to a conversion facility for sale to nuclear plants for electricity generation

15

ISR’s LONG STANDING ADVANTAGES

� Today virtually all US uranium production is by way of ISR mining

� Typical production profile for a Texas ISR uranium project:

� CAPEX of $20 to $25 million

� Cash cost of $12 to $15 per � Cash cost of $12 to $15 per pound

� According to the World Nuclear Association, 25% of global uranium production in 2006 was by ISR mining

� ISR mining has several advantages over conventional mining

� minimal environmental impact

� lower capital and operating costs

Mesteña Uranium LLC, Alta Mesa ISR Uranium Project, South Texas

1616

2005

Property and Data Acquisition

2006 2007 2008 2009 2010 2011 2012

Archaeology/History -COMPLETED

Ecology – COMPLETED

Soils/Sediments/ -COMPLETED

Gamma/Rn-222 - COMPLETED

Socioeconomic Study - COMPLETED

Radiological Assessment -COMPLETED

MILDOS Survey -COMPLETED

Rad

ioacti

ve M

ate

rial

Lic

en

se T

asks

Delineation Drilling -COMPLETED

RadioactiveMaterialLicense

Goliad Project - Path to Production

Rad

ioacti

ve M

ate

rial

Lic

en

se T

asks

RML Application Submitted Nov 2008

Area Groundwater Baseline -COMPLETED

Geology/Hydrology - COMPLETED

Deep Disposal Well Study - COMPLETED

Air Exemption Permit - COMPLETED

EPA Aquifer Exemption

Min

e P

erm

it a

nd

PA

A T

asks

Final Draft PAA Permit - COMPLETED

Plant Construction

Wellfield Completion

Uranium Recovery

MinePermit

Construction/Production

Draft Mine Permit - COMPLETED

Disposal Well Draft Permit- COMPLETED

18

CEBOLLETA PROJECT:A Premier Development Opportunity� Former producing uranium mine situated in the Grants Uranium District, New Mexico

�Grants District produced over 340M lbs U3O8 prior to 1986, largest producing uranium field in the USA. Over 100 M lbs produced from the Jackpile Mine

L-Bar Ranch Reclaimed Mill Site

L-Bar Mine & Mill (circa 1978)

produced from the Jackpile Mine immediately adjacent to Cebolleta that was operated by Anaconda between 1953-1982.

�UEC controls 49% of Cebolleta in partnership with Neutron Energy Inc.

�The Cebolleta Land Grant is a private entity managed by a board of trustees who have the authority to approve and use the natural resources within the grant boundary.

� 43-101 report with historic resource of 20.86 million pounds of U3O8 grading 0.124%

19

� Control over 8,000 acres of lode claims, state mineral leases & private leases in the prolific Uravan Mineral Belt.

� Acreage contains 15 former producing mines that averaged 0.25% Uranium and 1.7% Vanadium.

COLORADO PLATEAU:DEVELOPMENT PROJECTS

� Resources are readily accessible by conventional mining methods including Open Pit.

� Land positions are located in uranium-friendly areas with an experienced mining work force.

� Strategic direction towards near-term plans for heap leaching or toll milling utilizing existing mills of uranium-vanadium ores on private property, rather than waiting for the permitting and construction of a new mill facility, for most efficient economics.

19

LEGEND

UEC CO Plateau Properties

BLM Lode ClaimsMontezuma Canyon (State Lease)Private Lease

Mining Districts

Dry Valley Dist.La Sall Dist.Lisbon Valley (Big Indian)Dist.Montezuma Canyon Dist.Ucolo Dist.Uravan Mineral Belt

SHARE CAPITAL AND CASH POSITION

AS OF September 2, 2009 (un-audited)

Issued & Outstanding

Warrants

Options

Fully Diluted

Cash on hand

Cash potential from Warrants*

55,989,561

8,288,375

5,448,000

69,725,936

$24,000,000

$24,643,962

Average Volume over 3-months (as of Sep 2):

• NYSE-AMEX ~ 910,000• Frankfurt ~ 50,000

Cash potential from Warrants*

Cash potential from options

Total

Monthly cash burn

*Warrants:

3,238,458 warrants @ 3.10

4,549,917 warrants @ 3.10

500,000 warrants @ $1.00

Mgmt. & insider ownership

Institutional ownership

$24,643,962

$3,037,267

$ 51,681,229

~$550,000

Expiring

July 2010

June 2011

March 2016

~25%

~35%

One Year Price/Volume Chart

22

CORPORATE HISTORYOct 2004 UEC acquires portfolio of uranium projects in Wyoming, Arizona, Colorado

Oct 2005 UEC acquires advanced stage Goliad Uranium Project in Texas

Feb 2006 UEC goes public by listing shares on the OTCBB under the symbol URME

Jul 2006UEC raises $5,000,000 equity financing 2,500,000 units, at a subscription price of US $2.00 per unit; each unit is comprised of one common share and one-half warrant exercisable at $2.50 per share

Jan 2007UEC raises $13,500,000 equity financing5,400,000 units, at a subscription price of US $2.50 per unit; each unit is comprised of one common share and one-half warrant exercisable at $3.00 per share

Sep 2007 UEC begins trading on the Amex under a new symbol UEC

Dec 2007UEC raises $6,750,000 equity financing1,800,000 units, at a subscription price of US $3.75 per unit; each unit is comprised of one common share and one warrant exercisable at $4.25 per shareeach unit is comprised of one common share and one warrant exercisable at $4.25 per share

Mar 2008 UEC reports independent NI 43-101 resource estimate at Goliad project

Mar 2008 UEC acquires exclusive rights to historic Kerr-McGee uranium database

June 2008 Draft Mine Permit Issued For Goliad ISR Uranium Project In South Texas

July 2008UEC raises $15,294,597.60 equity financing6,372,749 units, at a subscription price of US $2.40 per unit; each unit is comprised of one common share and one-half warrant exercisable at $3.10 per share

Dec 2008 Completes filing of final permit applications for Goliad ISR project

Jan 2009 UEC reports NI 43-101 resource estimate at Nichols Project in South Texas

Feb 2009 UEC Announces Advances in Permitting for the Goliad ISR Project

May 2009 UEC Receives Production Area-1 Draft Authorization at Goliad

June 2009 UEC raises $22,319,601 equity financing9,099,834 units, together with 2000,000 common Shares at a subscription price of US $2.40 per unit; each unit is comprised of one common share and one-half warrant exercisable at $3.10 per share

June 2009 Uranium Energy Corp Added to Russell 2000 Index and Russell 3000 Index

Sept 2009 Uranium Energy Corp Receives Both Initial Draft Disposal Well Permits for the Goliad ISR Project in South Texas

23

Analyst Coverage

National Bank Financial Brian Christie, MSc (416) 869-7118

CIBC World Markets Ian Parkinson (416) 956-6169

24

Dundee Capital David A. Talbot (416) 350-3082

Haywood Securities Geordie Mark, Ph.D (604) 697-6089

RBC Capital Markets Adam Schatzker (416) 842-7850

Versant Partners Anthona D. Curic, MBA (416) 849-5009

INVESTMENT SUMMARY

US uranium growth strategy built around technical excellence and near-term production

Why invest

in UEC as

a junior

U308

stock?

25

� Poised to become one of the few, new uranium producers in the world

� $24M cash on hand, funded to develop and construct flagship project

� Technical team involved with 35 ISR projects in the US

� Low Permitting Risk in Texas with Draft Permit and Production Area Authorization 1 in hand

� Low Geological risk with shallow deposit and ISR process

� Last major ISR project put into production (in 2005) by UEC team in Texas

� ‘Security of supply’ premium with all projects in the U.S