Uranium Energy Corp Appoints Independent Members to its Board of Directors and Advisory Board

Senior Money Manager and Veteran Nuclear Fuel Trader Add Further Breadth to the Company's Expertise

AUSTIN, TX - July 24, 2007 - Uranium Energy Corp (OTCBB: URME) (Frankfurt: U6Z) (Berlin: U6Z) announces that it has appointed Vincent Della Volpe, a professional money manager, to its Board of Directors.  The Company also announces the appointment of Ed Brezinski, a veteran in the nuclear fuel industry, to its Advisory Board.

Vincent Della Volpe

Mr. Della Volpe has a long and distinguished career. He has served as a professional money manager for 38 years including senior portfolio manager of pension funds for Honeywell Corporation and senior vice president of the YMCA Retirement Fund in New York with responsibilities for several billion dollars in assets.

In his experience, Mr. Della Volpe has particularly focused on the management of energy and utility equities portfolios.  His expertise includes management of significant venture capital investments.  Mr. Della Volpe holds a Bachelor of Arts in Accounting and an MBA in Finance, both from Seton Hall University, South Orange, NJ.

Ed Brezinski

Advisory Board appointee Mr. Ed Brezinski's career spans over 20 years working for utility companies and with nuclear fuel traders and brokers.  His experience has been focused on marketing, trading and brokerage of uranium and related products, market analysis, inventory management, procurement and contracting for nuclear fuel, fuel services and other vital nuclear power plant services.  While at Northeast Utilities, he acted as lead purchaser of uranium concentrates, and conversion, enrichment and fabrication services.  He also worked in a similar lead trader or broker capacity for UG USA, Nukem Inc, and NYNCO trading and brokerage companies.

Mr. Brezinski currently serves as the Vice President of Nuclear Fuel Supply for Utah-based Energy Solutions.  Mr. Brezinski has a Bachelor of Science in Radiological Health Physics, and an MBA in Finance and International Business.

The Company also announces that it has accepted the resignation of Randall Reneau from the board of directors.  Uranium Energy Corp wishes to thank Mr. Reneau for the essential service he provided to the Company.

About Uranium Energy Corp

Uranium Energy Corp (URME: OTCBB) is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States.  The Company is developing its advanced-stage Goliad Project in South Texas.  Uranium Energy 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 the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise.  Uranium Energy is well positioned to capitalize on the current alternative energy boom.  For more information, please visit www.uraniumenergy.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933 , as amended, and Section 21E of the United States Securities and Exchange Act of 1934 , as amended.  Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.  Such risks and uncertainties may include, but are not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company.  These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.  Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate.  Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the United States Securities and Exchange Commission.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.