Ur-Energy Advances Growth Portfolio in the Great Divide Basin Technical Studies Underway on Lost Soldier Project North Hadsell Drilling Returns Significant Intercepts
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January 28, 2026
Ur-Energy Advances Growth Portfolio in the Great Divide Basin
Technical Studies Underway on Lost Soldier Project
North Hadsell Drilling Returns Significant Intercepts
Casper, Wyoming (ACCESS Newswire) - Ur-Energy Inc. (NYSE American:URG) (TSX:URE) (the “Company” or
“Ur-Energy”), a U.S. producer of uranium, is pleased to provide an update on work at its Lost Soldier and
North Hadsell Projects, located in the Great Divide Basin, Wyoming.
Ur-Energy is off to a strong start in 2026 at both the Lost Soldier and North Hadsell Projects, delivering
encouraging results in our work programs that demonstrate the upside potential of these assets. The
objectives of our drilling were straightforward and value-driven: first, to gather critical hydrogeologic data at
Lost Soldier to reduce risk and support efficient planning and permitting, and second, to identify new uranium
roll-front targets at North Hadsell.
Both projects are located near our producing Lost Creek uranium mine, providing increased potential to
leverage existing infrastructure, reduce future development capital requirements, and expand our uranium
mineral resource base in Wyoming’s prolific Great Divide Basin.
Highlights
Lost Soldier Project
▪ Technical Report: Efforts are underway to define a mineral resource estimate using detailed roll -
front mapping which will allow us to more accurately assess the potential for in situ recovery (ISR), a
lower cost method than traditional mining, and provide more information for future project
planning.
▪ Hydrogeologic Risk Reduction : 18 aquifer test wells have been installed to advance our
understanding of local hydrogeology, an essential step in reducing project risk and better optimizing
permitting, development assumptions, wellfield design, and future development decisions. Testing
is expected to begin in Q1 2026.
• Strategic Proximity to Operations: Lost Soldier is a 17-mile drive from the Company’s producing Lost
Creek ISR mine and processing facility, which may enable capital-efficient development by leveraging
established infrastructure and operating expertise.
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North Hadsell Project
• Early Exploration Success : Initial results from the ongoing 50 -hole drill program are encouraging,
with 16 deep, wide-spaced holes completed including five holes that intersected significant uranium
mineralization, with 11 intercepts greater than 0.20 Grade Thickness (GT).
▪ Multiple Stacked Roll-Front Horizons: Exploration at North Hadsell has confirmed the presence of
multiple stacked roll-front horizons with grades and thicknesses similar to the Company’s producing
Lost Creek ISR mine, supporting confidence in recovery potential.
▪ Project Scale: Two of the most compelling holes exhibit this stacked roll-front mineralization at
similar depth horizons and are located approximately 1.5 miles apart, indicating the potential scale
of the mineralized system.
Ur-Energy CEO and President, Matthew Gili, commented: “The early success at North Hadsell, combined
with our decision to advance technical studies and hydrogeologic work at Lost Soldier, underscores the
momentum we are building across our Wyoming growth portfolio. As this work progresses, we see
meaningful pot ential for capital-efficient resource expansion , strengthening Ur-Energy’s long -term
development pipeline.”
Figure 1. Great Divide Basin Exploration Map
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Lost Soldier Project
Located approximately 17 miles (27 kilometers) to the northeast of Lost Creek, Lost Soldier has approximately
4,000 historic drill holes defining 14 mineralized sandstone horizons within the lower Battle Spring
Formation. We control 105 unpatented mining claims at the property, totaling approximately 1,960 mineral
acres.
Recent drilling at Lost Soldier focused on installing 18 aquifer test wells to enhance our understanding of the
local hydrogeology. While the geology of the project area is well understood , this additional hydrogeologic
characterization will assist our technical teams in optimizing planning, permitting, and potential development
activities. Aquifer testing is anticipated to begin in Q1 2026.
Work is also underway to complete a new technical report with the goal of establishing a mineral resource
estimate based on detailed roll -front mapping. The new report will combine results from recent work and
historical data to produce a mineral resource estimate to facilitate assessment and planning for potential ISR
development. The technical report on Lost Soldier is expected to be completed later this year.
North Hadsell Project
The North Hadsell Project is located approximately three miles west of Lost Soldier and 10 miles north of Lost
Creek and includes 203 unpatented mining claims covering about 3,970 mineral acres. The Project is
underlain by the same uranium -bearing geologic formation as Lost Soldier and Lost Creek. While some
historical drilling is known in the area, the related data are largely unavailable.
We commenced a 50-hole drill program in Q4 2025 and have completed 1 6 wide-spaced framework holes,
each approximately 1,000 feet deep , for a total footage of 16,765 feet. Five of these initial drill holes have
returned significant mineralization , indicating the presence of a stacked roll -front system containing 11
individual intercepts greater than 0.20 GT (Grade (%eU 3O8) times Thickness (ft)) . These grades and
thicknesses closely resemble the mineralization at Lost Creek, where the Company applies a 0.20 GT cut-off
in evaluating economic mineral resources. Preliminary interpretation suggests the potential for up to eight
individual roll fronts within a depth range of approximately 300 to 800 feet below surface , ideal for ISR
mining, with indications of additional mineralized horizons at depth. Notably, the two most encouraging drill
holes to date are located more than 1.5 miles apart with mineralization in similar horizons, suggesting the
Project’s scalability and resource potential.
Drilling will continue until the 50 -hole program is completed or until March 15, when seasonal sage grouse
restrictions begin. Any remaining work should resume in the summer.
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Table 1. North Hadsell Uranium Project Drill Results
Hole ID Depth (ft) Thickness (ft)
Average Grade*
(%eU3O8) GT (ft*%eU3O8)
NH-04-06 687.0 3.0 0.055 0.17
693.0 2.5 0.030 0.08
NH-04-07
750.5 3.0 0.041 0.12
805.5 2.0 0.026 0.05
808.5 2.0 0.024 0.05
NH-04-08
500.0 9.0 0.025 0.23
514.0 15.5 0.047 0.73
535.0 7.0 0.043 0.30
547.0 3.0 0.025 0.08
557.0 7.5 0.041 0.31
777.0 7.0 0.051 0.36
NH-04-16 686.0 2.0 0.024 0.05
NH-04-20 962.5 2.5 0.030 0.08
NH-04-26 857.0 1.5 0.036 0.05
NH-04-29 150.5 4.0 0.026 0.10
595.5 2.0 0.027 0.05
NH-32-01 643.5 7.5 0.075 0.56
NH-32-02 Trace
NH-32-03
533.0 4.5 0.024 0.11
543.5 12.5 0.044 0.55
564.5 14.0 0.051 0.71
582.5 4.0 0.027 0.11
604.5 13.0 0.039 0.51
NH-32-04 Trace
NH-32-05 Trace
NH-32-06 313.0 10.0 0.056 0.56
NH-32-07 Trace
NH-32-08
353.5 2.0 0.030 0.06
512.5 5.0 0.038 0.19
520.0 2.0 0.029 0.06
598.0 4.5 0.071 0.32
607.5 3.5 0.051 0.18
690.5 4.0 0.035 0.14
762.0 2.0 0.038 0.08
NH-33-05 Trace
*Minimum grade cutoff for reporting is ≥ 0.020 % eU3O8.
eU3O8, is equivalent U3O8 as measured by a calibrated gamma instrument.
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Qualified Person
Disclosures of a scientific or technical nature included in this news release, including the sampling, analytical
and technical data underlying the information, have been reviewed, verified and approved by John Cooper
who is a Registered Member of SME, a Certified Professional Geologist with AIPG, a Wyoming PG, and is a
Qualified Person as defined by Regulation S-K, Subpart 1300 as adopted by the U.S. Securities and Exchange
Commission and by Canadian National Instrument 43-101. Mr. Cooper is employed as a Senior Geologist with
Ur-Energy.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south -
central Wyoming. We have produced and packaged over 3 million pounds of U3O8 from Lost Creek since the
commencement of operations. Development and construction activities at the Shirley Basin Project, the
Company's second in situ recovery uranium facility in Wyoming, are well advanced. Ur-Energy is engaged in
uranium recovery and processing activities, including the acquisition, exploration, development , and
operation of uranium mineral properties in the United States. The primary trading market for Ur -Energy's
common shares is on the NYSE American under the symbol "URG." Ur-Energy's common shares also trade on
the Toronto Stock Exchange under the symbol "URE." Ur -Energy's corporate headquarters is in Casper,
Wyoming and its registered office is in Ottawa, Ontario.
Contact Information
Valerie Kimball
IR Director
720-460-8534
Cautionary Note Regarding Forward-Looking Information
This release may contain “forward -looking statements” within the meaning of applicable securities laws
regarding events or conditions that may occur in the future (e.g., whether for Lost Soldier we will be able to
more accurately assess the potential for in situ recovery, adequately reduce project risk, optimize permitting,
development assumptions, wellfield design, and project decisions, complete aquifer testing, or complete a
new technical report; whether for North Hadsell the drilling program will continue, further exploration and
analysis will support preliminary interpretations of drilling results, the resource potential will be adequate
for ISR mining, or the project will be scalable; or whether either project will be able to leverage existing
infrastructure and operating expertise, reduce future development capital requirements, expand our
uranium resource base, or have any prospective upside) and are based on current expectations that, while
considered reasonable by management at this time, inherently involve a number of significant business,
economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can
be identified by the use of forward -looking terminology such as “plans,” “expects,” “does not expect,” “is
expected,” “is likely,” “estimates," “intends,” “anticipates,” “does not anticipate,” or “believes,” or variations
of the foregoing, or statements that certain actions, events or results “may,” “could,” “might” or “will be
taken,” “occur,” “be achieved” or “have the potential to.” All statements, other than statements of historical
fact, are considered to be forward -looking statements. Forward -looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or
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achievements express or implied by the forward-looking statements. Factors that could cause actual results
to differ materially from any forward -looking statements include, but are not limited to, capital and other
costs varying significantly from estimat es; failure to establish estimated resources and reserves; the grade
and recovery of ore which is mined varying from estimates; production rates, methods and amounts varying
from estimates; delays in obtaining or failures to obtain required governmental, e nvironmental or other
project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in
development and other factors described in the public filings made by the Company at www.sedarplus.ca
and www.sec.gov. Readers should not place undue reliance on forward -looking statements. The forward -
looking statements contained herein are based on the beliefs, expectations and opinions of management as
of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect
any change in circumstances or in management’s beliefs, expectations or opinions that occur in the future.