Dear Shareholder,

Greg McCoach is the respected editor of The Mining Speculator and The U3O8 Investment Report. If you've been to any of the major mining conferences recently, you are already aware that Mr. McCoach is developing a strong following of investors because of his winning picks in recent years.

In the current issue of The Mining Speculator, dated April 25, McCoach goes on record regarding uranium stocks. And there's just one uranium stock that he recommends: Uranium Energy Corp (AMEX: UEC). In a full-page 'Strong-Buy' recommendation, McCoach concludes his analysis by saying:

". as it now stands, it appears that UEC could be the first company to put a new ISR project into production in the United States in a very long time. By my rough, back of the envelope calculations, UEC could be producing conservatively over one million pounds of uranium per year from their Texas ISR project. At current spot and contract prices, this would be very profitable for UEC. The Goliad Project in Texas would generate enormous cash flow for the company and put them on a very solid track for a much higher share price and a potential buy-out by a major.

And this is only one project of many the company now controls in key areas of the United States. Another area that I like where UEC has some key land holdings is the Colorado Plateau. What is interesting about this area is that historically for every pound of uranium mined, there were three pounds of vanadium produced. Recently, because of the power problems in South Africa, vanadium prices have skyrocketed to over $15 a pound.

Vanadium is used in just about everything from golf clubs to jet engines; ~80%of its use is to strengthen steel. Some examples of items that require vanadium are high speed tools, cutting objects, engine parts, aerospace-titanium/vanadium alloys and super conductor applications.

If you could only own one uranium company, it should be Uranium Energy.
UEC remains a STRONG BUY."

For more information about Greg McCoach and The Mining Speculator, please visit www.miningspeculator.

Investment Highlights of Uranium Energy Corp:

• Over 25 uranium projects in Texas, Wyoming, New Mexico, Arizona, Colorado, and Utah - the uranium states - at various stages of exploration.

• Near-term ISR uranium development in South Texas, currently drilling with 7 rigs to delineate and expand resource; mine permitting in-progress.

• Technical team with demonstrated record in discovering, developing and operating ISR and conventional uranium mines in the USA and globally.

• Over 5 million feet of drill hole data in its uranium exploration database library.

• Data-driven property acquisitions to continue in 2008.