Ur-Energy Inc. Announces a New and Increased Mineral Resource Estimate for the Lost Creek Property, Sweetwater County, Wyoming

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

This second Ur-Energy increase of resources during 2015 is the result of an updated resource evaluation and estimation from well-field development drilling data in Mine Unit 2 (MU2) and the results of the second phase of the 2015 Lost Creek Property exploration drilling program. In addition, all previously-identified Lost Creek Property resources were revised using a 0.20 grade-thickness (GT) cut-off. The incorporation of this new, lower GT cut-off is the result of better-than-expected demonstrated uranium recoveries from mining operations, as reported in the June 17, 2015 43-101 (NI 43-101) technical report authored by TREC, Inc. The current mineral resource estimate for all of the Lost Creek Property, at a 0.20 GT cut-off, after subtraction of 1.4 million pounds of Mine Unit (MU1) production (through September 30, 2015), is 13.3 million pounds eU3O8 in the Measured and Indicated categories, and 6.44 million pounds eU3O8 in the Inferred category. This revised resource estimate represents a net increase to the Lost Creek Property (all projects) of 3.15 million pounds eU3O8 in the Measured and Indicated categories and 1.40 million pounds eU3O8 in the Inferred category when compared to the previous estimate in the June 17, 2015 Technical Report.