Ur-Energy Provides 2017 Q3 Operational Results

10758 W. Centennial Rd. Suite 200

Littleton, CO 80127

Phone: 720.981.4588

Fax: 720.981.5643

www.ur-energy.com

News Release

Ur-Energy Provides 2017 Q3 Operational Results

Littleton, Colorado (PR Newswire – October 13, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE)

(the “Company” or “Ur-Energy”) is pleased to provid e the following operational results for third quarter

2017.

Highlights

Lost Creek Operations

Units 2017 Q1 2017 Q2 2017 Q3 2017 YTD

U3O8 Captured (‘000 lbs) 79.3 52.8 197.4

U3O8 Dried & Drummed (‘000 lbs) 74.4 48.4 193.6

U3O8 Sold (produced) (‘000 lbs) 50.0 180.0 261.0

U3O8 Sold (purchased) (‘000 lbs) 200.0 210.0 109.0 519.0

Average Flow Rate (gpm) 2,403 2,378 2,188 2,322

U3O8 Head Grade (mg/l) 32 27 23 27

Lost Creek Uranium Production and Sales

For the quarter, 52,812 pounds of U 3O8 were captured within the Lost Creek plant. 48,336 pounds of

U3O8 were packaged in drums and 36,797 pounds of U 3O8 drummed inventory were shipped out of the

Lost Creek processing plant. At September 30, 2017, inventory at the conversion facility was

approximately 17,813 pounds U3O8.

During the quarter, sales totaled $11.7 million. Th ere were no spot sales during the quarter. A total of

289,000 pounds was sold at an average sales price o f $40 per pound, which was 100% above the

average spot price for the same period of $20 per p ound. Of this, 109,000 pounds were sold at an

average price of $35 per pound for cash proceeds of $3.9 million. We purchased the pounds at a cost of

$20 per pound. The remaining 180,000 pounds were so ld from Lost Creek production at a price of $43

per pound, for cash proceeds of $7.8 million.

Lost Creek Anniversary and Development of Second Mine Unit

Lost Creek celebrated its fourth anniversary in ope ration in early August, having produced and

delivered to customers more than 2,000,000 pounds a t the time of that milestone, all from the first

mine unit of the project.

2

Our drilling and other construction work to develop the first three header houses in Mine Unit 2

commenced in early April. This development work continued through the summer, largely on schedule,

allowing us to bring the first header house online in late August. We currently anticipate that operation

of the second header house will commence during Q4 and the third header house will come online

early in 2018.

Continuing Guidance for 2017

We do not currently anticipate any sales in Q4, as we have completed our contractual deliveries for the

year. Our sales have totaled $38.3 million this year. The Q4 production target for Lost Creek is between

65,000 and 75,000 pounds dried and drummed. Our pro duction rate may be adjusted based on

operational matters and other indicators in the market.

We will provide further guidance for the remainder of 2017 in our Form 10-Q, which is currently

anticipated to be filed on Friday, October 27, 2017.

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, packaged and shipped mor e than two million pounds from Lost Creek since the

commencement of operations. Applications are under review by various agencies to incorporate our LC Ea st project

area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to operate at our

Shirley Basin Project. Ur-Energy is engaged in uran ium mining, recovery and processing activities, inc luding the

acquisition, exploration, development and operation of uranium mineral properties in the United States . Shares of

Ur-Energy trade on the NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol

“URE.” Ur-Energy’s corporate office is in Littleton , Colorado; its registered office is in Ottawa, Ont ario. Ur-Energy’s

website is www.ur-energy.com .

FOR FURTHER INFORMATION, PLEASE CONTACT

Jeffrey Klenda, Chair and CEO

866 -981 -4588

Jeff.Klenda@ur -energy.com

Cautionary Note Regarding Forward-Looking Information

This release may contain “forward-looking statement s” within the meaning of applicable securities laws regarding

events or conditions that may occur in the future (e.g., continuing results of Lost Creek operations; timing to bring the

additional header houses online; the ability to mee t production targets for fourth quarter; and whethe r adjustments

of production rates will be necessary or appropriat e) and are based on current expectations that, whil e considered

reasonable by management at this time, inherently i nvolve a number of significant business, economic a nd

competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any

forward-looking statements include, but are not lim ited to, fluctuations in commodity prices; capital and other costs

varying significantly from estimates; failure to es tablish estimated resources and reserves; the grade and recovery of

uranium which is mined varying from estimates; prod uction rates, methods and amounts varying from esti mates;

delays in obtaining or failures to obtain required governmental, environmental or other project approv als; inflation;

delays in development and other factors described i n the public filings made by the Company at www.sedar.com and

www.sec.gov . Readers should not place undue reliance on forwar d-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.