According to publicly available information, the Workman Creek Project is Development stage conventional uranium project located in the Sierra Ancha region in Gila County, Arizona and consists of approximately 198 unpatented mining claims covering approximately 4,036 acres.

The information below regarding project milestones and recent developments for the Workman Creek Project has been summarized from the Workman Creek Technical Report(1), a copy of which is available under the profile of Uranium Energy Corp's ("UEC") profile on SEDAR (, and from UEC's public disclosure.

Exploration in the Workman Creek area commenced in 1954, when the United States Atomic Energy Commission carried out reconnaissance exploration work that led to a staking rush and increased activity until the late 1970's. UEC has disclosed that in 1975, Wyoming Minerals Corporation, a subsidiary of Westinghouse Corporation, re-evaluated and acquired mining rights to the most prominent pre-1960 uranium showings in the region, which included and led to the development of, among others, the Workman Creek area, and by 1980, had drilled at least 432 drill holes in the Workman Creek area and completed a feasibility study. Shortly after the feasibility study was completed, the uranium market saw a prolonged depression.

Rodinia Minerals Inc. began exploration at the Workman Creek Project in 2005, which included radiometric, geochemical and radon-cup surveys on several claim blocks and the completion of a resource estimate.

In 2012, UEC filed the Workman Creek Technical Report(1), which includes a mineral resource estimate for the Workman Creek Project. The report disclosed an estimated inferred mineral resource of 5.54 mmlb U3O8 (3.22 million short tons or 2.92 million tonnes at an average grade of 0.086% U3O8).

UEC reported in its most recent annual report on Form 10-K that expenses at the Workman Creek Project have mainly comprised of property maintenance.

(1) Technical Report on the Workman Creek Project, Central Arizona, with an effective date of March 2, 2012, prepared for UEC and authored by Neil G. McCallum, B.Sc, P.Geo., and G.H. Giroux, MASc, P.Eng.