Ur-Energy Commences Operations at its Shirley Basin ISR Project, Wyoming, Advancing U.S. Uranium Production
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April 23, 2026
Ur-Energy Commences Operations at its Shirley Basin ISR Project, Wyoming,
Advancing U.S. Uranium Production
CASPER, WYOMING (ACCESS Newswire) - Ur-Energy Inc. (NYSE American:URG) (TSX:URE) (the “Company,”
“Ur-Energy” or “we”), a domestic uranium producer with ISR projects that are among the largest and lowest-
cost in the United States, is pleased to announce the start of uranium mining operations at its Shirley Basin
Project in Wyoming.
Operations Underway in a Historic ISR District
Uranium bearing solution is now being captured from Mine Unit 1 at Shirley Basin after the successful
completion of significant construction, wellfield installation, and permitting. Uranium concentrations in
recovered solutions are expected to increase over time as we further condition the wellfield, and all
production circuits are brought online . We expect to transport uranium loaded resin to Lost Creek for
processing this summer, subject to an additional regulatory inspection and approval.
Project Highlights and Scalability
The Shirley Basin Project enhances Ur -Energy’s operational flexibility through its integration with existing
infrastructure:
Capacity: Licensed annual wellfield and toll processing capacity of up to 2.0 million pounds equivalent of
U₃O₈.
Resource Base: Measured and Indicated mineral resources totaling approximately 9.1 million pounds U₃O₈
at an average grade of 0.22% eU₃O₈
Mine Life: Anticipated mine life of approximately nine years across three shallow mining units.
Operational Synergy: Uranium is captured on ion exchange resin and transported to the Company’s Lost
Creek facility for final processing, drying, and packaging.
This milestone marks the successful transition of the Company’s second in situ recovery (“ISR”) mine from
development to initial operations and represents a significant expansion of Ur -Energy’s U.S. uranium
production capacity. Our Shirley Basin Project is situated in the Shirley Basin district, widely recognized as
the birthplace of ISR mining, is now returning to active operations under Ur-Energy’s stewardship. With new
production anticipated from Shirley Basin, Ur -Energy is well positioned to contribute to growing global
uranium demand amid a nuclear energy renaissance.
Matt Gili, CEO and President, commented: “Launching initial operations marks a pivotal achievement in Ur-
Energy’s growth strategy and plan to expand U.S. uranium production capacity. Two years ago, we committed
to building out this project. Today, we have successfully brought a historically significant uranium district
back to life, demonstrating disciplined execution of our strategy. This accomplishment reflects the dedication
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and expertise of our teams , who have advanced Shirley Basin from development to operations. It is
particularly meaningful as it supports the growing need for secure, domestic uranium supply and underscores
our ability to move permitted projects toward production while strengthening our role in the U.S. nuclear
fuel cycle.”
Shirley Basin Plant - Ion Exchange Columns (April 16, 2026)
Qualified Persons
Benjamin J. Schiffer, P.G., and Ray B. Moores, P.E., of Western Water Consultants, Inc., d/b/a WWC
Engineering (WWC), Qualified Persons as defined by Subpart 1300 of Regulation S-K, 17 C.F.R. §229.1300 et
seq., and Canadian National Instrument 43-101, have reviewed the technical disclosures in this press release,
including the references to our mineral resource estimates.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south -central
Wyoming and the Shirley Basin ISR project in central Wyoming, which has produced nearly 3.5 million pounds
of U₃O₈ since the commencement of operations . We initiated operations at Shirley Basin, the Company’s
second ISR uranium project, in April 2026. The combined total annual licensed production and toll processing
capacity of Lost Creek and Shirley Basin is 4.2 million pounds U₃O₈.
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 NY SE American under the symbol “URG.” Ur -Energy’s common
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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., the timing and progression at the Shirley
Basin Project from initial operations to the transportation of loaded resin to Lost Creek for processing, drying,
and packaging, and of production ramp -up, including wellfield development, increasing flow rates, and
bringing additional areas online; the timing and extent of increased uranium recovery; the ability of Shirley
Basin to achieve its expected production capacity, mine life, and operational performance; the continued
receipt of regulatory approvals; the integration of Shirley Basin with Lost Creek to provide production
flexibility and scalability; and the demand and market for uranium ) 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 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
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 estimates; failure to establish estimated re sources and reserves; the grade
and recovery of uranium which may vary from estimates; production rates, methods and amounts varying
from estimates; delays in obtaining or failures to obtain required governmental, environmental 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.