Ur-Energy Updates Lost Creek Property Technical Report Summary Estimating an Extended Mine Life and Increase in Net Cash Flow

The most recent news (March 10, 2026) consists of two major updates: an updated Technical Report Summary (TRS) for the Lost Creek Property and the Year-End 2025 financial results. The TRS estimates a significant resource base of 11.87M lbs eU3O8 (Measured & Indicated) and 10.36M lbs eU3O8 (Inferred), extending the mine life by nearly three years to Q2 2039. Financially, the company reported a 65% year-over-year increase in U3O8 production (410,440 lbs) and a strong cash position of $123.9 million. Progress at the Shirley Basin project remains on track with all ion exchange columns installed and pending final regulatory approval to commence injection.

The news is Routine - Positive. While the extension of the mine life and the production increases are fundamentally strong, they represent the successful execution of previously communicated strategies rather than a "game-changing" surprise. - Production Growth: The 65% increase in production at Lost Creek validates the ramp-up efforts discussed throughout 2025. - Resource Expansion: Adding three years to the mine life at Lost Creek provides long-term valuation support but was largely anticipated given ongoing exploration at LC East and HJ/KM horizons. - Financial Stability: The $123.9M cash balance, bolstered by the $120M convertible note offering in late 2025, removes near-term financing risk, allowing the company to fund Shirley Basin construction without further dilution. - Operational De-risking: The transition of Shirley Basin from construction to "pending approval" for commissioning is a critical milestone that moves the company closer to its 2.2M lb annual production goal.

Ur-Energy is a U.S.-based uranium mining company operating in Wyoming. - Flagship Project: Lost Creek ISR Project. It has been in production since 2013 and recently received approvals for expansion into the LC East and KM horizons. - Secondary Project: Shirley Basin ISR Project. Currently in the final stages of construction/commissioning with a target for initial production in early 2026. - Total Licensed Capacity: 2.2 million pounds of U3O8 per year.