CASPER, WY / ACCESS Newswire / August 10, 2026 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur-Energy" or the "Company"), America's largest and fastest-growing domestic ISR uranium producer, is pleased to announce its financial and operating results, along with development and exploration highlights, for the second quarter ended June 30, 2026.

Financial and Operating Highlights

• New Record for Pounds Drummed: Processed and packaged 140,873 pounds of U₃O₈ during the quarter, an increase of 47.4% over the first quarter of 2026 and 25.7% over the second quarter of 2025, and the most drummed in a calendar quarter since the start of ramp up at Lost Creek in 2022.

• Continued Increase of Pounds Shipped: Shipped 149,747 pounds of U₃O₈ to the conversion facility during the second quarter, an increase of 44.0% over the first quarter of 2026 and 42.2% over the second quarter of 2025.

• Delivered on Contracted Sales: Sales for the second quarter under contracted deliveries totaled 215,000 pounds of U₃O₈ as projected, generating $14.4 million in product sales revenue.

• Continued Low-Cost Production: The cash cost per pound of U₃O₈ sold during the quarter remained low at $40.20, compared to $37.51 for the first quarter of 2026 and $42.83 for the second quarter of 2025.

• Strong Liquidity: Unrestricted cash and cash equivalents totaled $95.3 million at June 30, 2026.

• Ending Inventory: Ended the second quarter with 348,292 pounds of finished inventory at the conversion facility, which was a 16.5% decrease from the first quarter of 2026 and 10.4% more than the second quarter of 2025.

Matt Gili, President & CEO of Ur-Energy, stated, "The second quarter of 2026 marked an inflection point for Ur-Energy. The continued ramp up at Lost Creek and the commencement of production at Shirley Basin has transformed us into both the largest and the fastest-growing ISR producer of uranium in the United States. We continue to expand our production, our operating costs remain among the lowest in the country, and our organic growth pipeline is advancing at pace."

Development and Exploration Highlights

• Final Regulatory Approval at Shirley Basin: In late June 2026, the Company received final state regulatory authorization to commence full production operations at Shirley Basin, including the transportation of uranium-loaded resin to Lost Creek for processing and shipping.

• Shirley Basin Ready to Commence Full Operations: All plant infrastructure and processes are in place at Shirley Basin to transport uranium-loaded resin to Lost Creek and launch full production operations only two and a half years after the build out decision. The first shipment is expected imminently.

• Production Optimization at Lost Creek: Continued to increase flow rates and further increase production, adding header houses, installing a sand filtration system and breaking ground on the planned wastewater treatment facility in July, and advancing initiatives to optimize wellfield chemistry.

• Rapid Progress on Near-Mine Exploration: Completed test well clusters and began baseline environmental studies at Lost Soldier in anticipation of potential permitting as a satellite mine feeding Lost Creek. Also commenced planning and preparations for a 120-hole exploration drilling program at Lost Creek South - a highly prospective, under explored approximately 16-square mile property immediately adjacent to the Lost Creek operation.

Summary of Selected Second Quarter Results

1. All sales were under long-term contracts.

2. Pounds in inventory at the conversion facility.

3. Includes ad valorem and severance taxes but excludes non-cash costs.

4. Unrestricted cash position at the end of the quarter.

5. Percentages may not recalculate precisely due to rounding.

Lost Creek Production Growth and Continued Optimization

At Lost Creek, Ur-Energy's flagship uranium ISR mining project, the Company drummed 140,873 pounds of U₃O₈, an increase of 47.4% over the first quarter of 2026 and 25.7% over the second quarter of 2025. The Company also shipped 149,747 pounds during this time, an increase of 44.0% over the first quarter of 2026 and 42.2% over the second quarter of 2025.

Wellfield development and surface construction remain on schedule for the Company's 2026 operating plans. Subject to regulatory approval, the Company expects to commence wellfield construction and installation in the fifth mine unit by year-end 2026, where 15 header houses are planned from late 2026 through 2028. At quarter-end, 17 drill rigs were actively supporting the Lost Creek drilling program - an increase of two from the previous quarter.

A sand filtration system was installed at Lost Creek during the quarter and brought online in July to increase flow rates while the new wastewater treatment facility is completed. Development of the wastewater treatment facility accelerated during the quarter, and the Company broke ground in July 2026. Completion and operation are planned for the first quarter of 2027. Additionally, the Company expects to complete implementation of an enhanced maintenance program and improvements to the reverse osmosis system by year-end 2026.

Shirley Basin Ready for Full Production Operations

In April 2026, the Company commenced limited initial operations to extract and capture uranium at Shirley Basin. While the project is permitted as a second production and processing hub operation to maximize future optionality in the emerging Great Divide Basin uranium district, Shirley Basin is designed as a spoke of the Lost Creek hub to optimize capital efficiency.

While conducting only limited operations, the Company succeeded in capturing 10,634 pounds of U₃O₈ at the Shirley Basin plant during the second quarter of 2026. In late June 2026, the Company received final authorization from the State of Wyoming to commence full production operations, including the transportation of extracted and captured uranium to Lost Creek. By the end of July 2026, all plant infrastructure and processes for transportation were in place. As of the date of this release, the Company was preparing a trailer for the first shipment to Lost Creek to transition Shirley Basin to full production operations.

Various additional plant construction activities are expected to continue through 2026 as the Company continues to deliver on its optimization strategy.

Exploration Activities in the Great Divide Basin

Lost Creek South: Totaling approximately 16-square miles immediately adjacent to the Lost Creek operation, Lost Creek South has clear potential as a low-cost, near-mine expansion opportunity. During the second quarter, the Company carried out planning and preparation activities for a 120-hole exploration program that is expected to commence in the third quarter of 2026 with three drill rigs.

Lost Soldier: With approximately 4,000 historic drill holes and related data indicating mineralization, and close proximity to the Company's Lost Creek operation, Lost Soldier has superb potential as a satellite operation. During the second quarter of 2026, the Company completed pump testing of two of the three aquifer test well clusters and began work on baseline environmental studies in anticipation of possible permitting. Additionally, completion of a technical report including a resource estimate for the project is expected by year-end 2026.

North Hadsell: The Company drilled 33 holes totaling approximately 33,800 feet in the first quarter of 2026, with 13 holes hitting mineralization that closely resembles that of Lost Creek. During the second quarter, the Company advanced the opportunity by completing abandonment of the previously drilled holes.

Sales and Inventory

During the second quarter, the Company sold 215,000 pounds of U₃O₈ at an average price of $66.85 per pound, generating $14.4 million in product sales revenue. A total of 348,292 pounds of finished inventory was held at the conversion facility at quarter-end, compared to 417,231 pounds at the end of the first quarter of 2026 and 315,607 pounds at the end of the second quarter of 2025.

Including the 270,000 pounds delivered in the first half of 2026, the Company expects to make base deliveries of 1.0 million pounds of U₃O₈ in 2026. After the end of the quarter, the Company proactively entered into transactions to defer delivery of 150,000 pounds to 2027 and 150,000 pounds to 2029. The deferral transactions increase the Company's ability to make subsequent 2026 deliveries from existing inventory and new production. A larger number of expected 2026 deliveries were scheduled in the latter part of the year to coincide with the ramp-up and startup schedules for Lost Creek and Shirley Basin.

U₃O₈ Product Profit (Loss)

The following table provides information on the Company's U₃O₈ product profit and loss:

U₃O₈ Production and Ending Inventory

The following tables provide information on the Company's production and ending inventory of U₃O₈ pounds:

Conference Call and Webcast

Management will hold a conference call and audio webcast to discuss the quarterly highlights followed by a question-and-answer session with participants. The details are as follows:

About Ur-Energy

Ur-Energy is the largest and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of U₃O₈. The Company is also engaged in exploration and development activities at a selection of highly prospective projects in the Great Divide Basin uranium district. Ur-Energy's common shares trade on the NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." The Company's corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.

Contact Ur-Energy Investor Relations at:
Richard Matthews
Phone: +1 (604) 355-7179
Email: info@ur-energy.com

Financial Statements and Non-GAAP Measures

This press release should be read in conjunction with Ur-Energy's Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, including the unaudited consolidated financial statements and associated Management's Discussion and Analysis of Financial Condition and Results of Operation included therein, which is available on the Company's website at www.ur-energy.com and under the Company's issuer profile on EDGAR at www.sec.gov and SEDAR+ at www.sedarplus.ca.

The press release includes measures specific to U₃O₈ sales, product cost, product profit, pounds sold, price per pound sold, cost per pound sold, and product profit per pound sold. These measures do not have standardized meanings within U.S. GAAP or a defined basis of calculation. These measures are used by management to assess business performance and determine production and pricing strategies. They may also be used by certain investors to evaluate performance. The use of these performance measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. The Company's definitions of these measures may differ from other mining companies, and therefore may not be comparable. These non-GAAP measures should be read in conjunction with the Company's consolidated financial statements for applicable periods.

Cautionary Statement 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 Company's ability and the expected or planned timing at Lost Creek to continue to ramp up and increase production operations, optimize chemistry, construct the wastewater treatment facility, and implement maintenance improvements and other initiatives to increase production; whether the Company's efforts, including the installation of sand filtration, to mitigate fine particles from the wellfield and increase flow rates at Lost Creek will be successful; the Company's ability and the expected or planned timing at Shirley Basin to begin transporting uranium to Lost Creek, ramp up and increase production, bring additional production columns online, complete remaining construction and commissioning, and install wastewater treatment equipment; the Company's ability to efficiently process, dry, and drum Shirley Basin production at Lost Creek and execute the Shirley Basin satellite model; the Company's ability and the expected or planned timing at both Lost Creek and Shirley Basin to execute drilling plans, install and bring additional header houses online, receive regulatory approvals for additional mine units, and move into, commence wellfield construction in, and successfully produce in additional mine units; the Company's ability and the expected or planned timing at Lost Soldier to complete aquifer testing, baseline environmental studies, or a new technical report; whether for any of the Company's exploration programs, including Lost Soldier, North Hadsell, and LC South, the drilling programs will continue, further work will support preliminary interpretations, the resource potential will be adequate for ISR mining, the Company will commence or complete permitting, or the projects will be scalable or allow the Company to leverage existing infrastructure or operating expertise; whether the Company's production and inventory will be sufficient for it to meet its commitments to sell and deliver production or to meet its sales projections; whether the Company's cash resources will be sufficient for its capital requirements and operating costs without additional financing; and whether the Company's revenue, sales prices, or production costs will increase or decrease) 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 use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," "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 actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore that is mined varying 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; changes in governmental polices or market conditions; and other factors described in the public filings of the Company that are available at www.sec.gov and www.sedarplus.ca. 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 changes in management's beliefs, expectations, or opinions that occur in the future, except as required by applicable law.

SOURCE: Ur-Energy Inc.

Management will hold a conference call and audio webcast to discuss the quarterly highlights followed by a question-and-answer session with participants. The details are as follows:

To Join the Conference Call by Phone:

Conference Call Replay:

About Ur-Energy

Ur-Energy is the largest and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of U₃O₈. The Company is also engaged in exploration and development activities at a selection of highly prospective projects in the Great Divide Basin uranium district. Ur-Energy's common shares trade on the NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." The Company's corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.

Contact Ur-Energy Investor Relations at:

Richard Matthews
Phone: +1 (604) 355-7179
Email: info@ur-energy.com

SOURCE: Ur-Energy Inc.

CASPER, WY / ACCESS Newswire / July 14, 2026 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy"), one of the largest domestic producers of uranium in the United States, today announced that, as part of the Board of Directors' regular review of its leadership structure and Board responsibilities, independent director Kathy Walker has been appointed Chair of the Board. Ms. Walker, who brings more than 40 years of leadership experience across the energy, mining and financial industries, succeeds John Cash, who has provided distinguished leadership as Chair and will continue to serve as a director of the Company. Mr. Cash will also continue to contribute his extensive technical, operating and industry expertise as a strategic and technical adviser under a consulting agreement to support the continued growth of the Company's uranium resources and production.

Kathy Walker, Board Chair of Ur-Energy, commented, "I am honored to accept the role of Board Chair for Ur-Energy at such an exciting time for the Company. Thanks to robust uranium fundamentals, energy security, reshoring and our recent production milestones, I believe the growth opportunities in front of us are second to none in the US uranium market."

Walker continued, "On behalf of the entire Board, I want to express our profound appreciation to John for his exceptional leadership and extraordinary service to Ur-Energy. John has brought an uncommon combination of technical expertise, operating experience, sound judgment and deep knowledge of the uranium industry to the role of Chair. His leadership has been instrumental in guiding the Company through an important period of operational advancement and positioning Ur-Energy for its next phase of growth. Just as importantly, John has led with integrity, thoughtfulness and an unwavering commitment to the Company, its people and its shareholders. His contributions have had a lasting impact on Ur-Energy, and I am personally grateful for his guidance and partnership during my eight years on the Board. We look forward to continuing to benefit from his experience, judgment and counsel."

John Cash, director of Ur-Energy, stated, "I would like to personally congratulate Kathy as she moves into the role of Board Chair of Ur-Energy. Her breadth of board leadership experience in the energy and mining sectors will be a great asset to the Board. I look forward to continuing to serve as a director and advancing our Wyoming projects with the Board and the entire team."

"John's leadership as Chair has been exceptional, and his depth of industry knowledge, practical experience and thoughtful counsel have been invaluable to both the Board and management team," commented Matt Gili, President, CEO and director of Ur-Energy. "We are grateful that John will remain actively involved as a director and strategic and technical adviser as we continue to advance our Wyoming operations. Kathy is a natural choice to succeed John as Chair. Her insights, leadership and broad business experience have already added tremendous value to Ur-Energy, and I look forward to working closely with Kathy, John and the entire Board as we execute the Company's strategy."

Kathy Walker has served as a director of Ur-Energy for eight years and currently serves as Chair of the Compensation Committee and as a member of two other Board committees. In addition to senior management roles with corporations such as Utah International, a GE Mining subsidiary, and Agip Coal USA, she has served on the boards of banks, US regional economic development organizations and national industry councils, and she holds an MBA from Xavier University.

About Ur-Energy

Ur-Energy is a US uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of 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. Ur-Energy's common shares trade on the NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." The Company's corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.

Contact Information

Valerie Kimball
IR Director
Valerie.Kimball@ur-energy.com
720-460-8534

Cautionary Note Regarding Forward-Looking Information

This press 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., statements regarding the future of the Company and the prospects for the uranium mining industry) and are based on current expectations that, while considered reasonable by management at this time, inherently involve significant business, economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate" or "believes," or variations of such terms, or by statements that certain actions, events or results "may," "could," "might" or "will" be taken, occur, be achieved or have the potential to occur. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; uranium grades and recoveries varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining, or failure 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 Company's public filings 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 management's beliefs, expectations and opinions as of the date of this release. Ur-Energy disclaims any intent or obligation to update or revise such statements to reflect changes in circumstances or in management's beliefs, expectations or opinions, except as required by applicable law.

SOURCE: Ur-Energy Inc.

The authorization follows a comprehensive preoperational inspection conducted by WDEQ staff pursuant to Radioactive Materials License WYSUA-2010. The WDEQ verified that all required safety systems, operating procedures, staffing, radiation safety programs and environmental monitoring programs were sufficient for safe operations and protective of human health and the environment.

Uranium recovery operations commenced at Shirley Basin in April 2026, and to date, an estimated 10,500 pounds of uranium have been loaded onto resin. Shipments of loaded resin to Lost Creek will commence in the coming weeks as wellfield flow rates are steadily increased to full commercial levels.

Integrated Satellite Production Strategy

The authorization advances Shirley Basin into full wellfield recovery operations and enables uranium-loaded resin to be transported to Lost Creek for final processing and recovery. By leveraging Lost Creek's established central processing plant for elution, precipitation, drying and drumming, Ur-Energy avoids duplicative infrastructure, improves capital efficiency and supports the scalable ramp-up of its second ISR operation.

Matthew Gili, President and CEO, commented: "Receiving this regulatory authorization is a pivotal milestone for both Shirley Basin and Ur-Energy. It advances Shirley Basin from development into an active uranium-producing operation and strengthens our position as a reliable domestic producer with two operating ISR assets. Our teams have worked diligently to meet the highest standards of safety and environmental compliance, and we are excited to begin transporting uranium-loaded resin to Lost Creek as we expand production to help meet growing demand for U.S. uranium."

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of 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. Ur-Energy's common shares trade on the NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." The Company's corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.

Contact Information

Valerie Kimball
IR Director
Valerie.Kimball@ur-energy.com
720-460-8534

Cautionary Note Regarding Forward-Looking Information

This press 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., statements regarding the timing and commencement of uranium-loaded resin shipments from Shirley Basin to Lost Creek; the ramp-up of wellfield flow rates and uranium recovery operations at Shirley Basin to full commercial levels; the Company's ability to process Shirley Basin resin at Lost Creek; the anticipated capital efficiency, scalability and other operational benefits of integrating the Company's two Wyoming ISR operations; and the Company's ability to expand domestic uranium production to help meet growing demand for U.S. uranium) and are based on current expectations that, while considered reasonable by management at this time, inherently involve significant business, economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate" or "believes," or variations of such terms, or by statements that certain actions, events or results "may," "could," "might" or "will" be taken, occur, be achieved or have the potential to occur. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; uranium grades and recoveries varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining, or failure 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 Company's public filings 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 management's beliefs, expectations and opinions as of the date of this release. Ur-Energy disclaims any intent or obligation to update or revise such statements to reflect changes in circumstances or in management's beliefs, expectations or opinions, except as required by applicable law.

SOURCE: Ur-Energy Inc.

CASPER, WY / ACCESS Newswire / June 17, 2026 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy"), a domestic uranium producer with ISR projects that are among the largest and lowest-cost in the United States, is pleased to announce the completion of its 100th shipment of U₃O₈ uranium concentrate (yellowcake) from its flagship Lost Creek ISR facility in Wyoming.

The milestone shipment departed the Lost Creek Plant on June 11, 2026, and brings Ur-Energy's total pounds of U₃O₈ shipped to over 3.5 million since operations began in 2013. The 100th shipment marks more than a decade of safe, reliable U.S. uranium production and underscores Ur-Energy's established role in supporting the domestic nuclear fuel supply chain.

Ur-Energy employees commemorate the 100th shipment of yellowcake from the Lost Creek ISR facility on June 11, 2026

Steve Hatten, Chief Operating Officer, commented: "Achieving our 100th shipment is a powerful testament to the operational excellence and consistency of our team at Lost Creek. For more than a decade, this facility has proven the efficiency and reliability of our ISR platform. Delivering more than 3.5 million pounds into the supply chain isn't just a historical milestone; it establishes the operational blueprint we are now executing to drive production growth across our portfolio."

Lost Creek remains the cornerstone of Ur-Energy's production strategy. With the Company's second ISR uranium facility, Shirley Basin, having successfully initiated operations in April 2026, Ur-Energy is uniquely positioned to scale production to support the expanding demand for secure, domestic nuclear fuel.

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since the commencement of operations, and the Shirley Basin ISR project in central Wyoming, which initiated operations 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 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
Valerie.kimball@ur-energy.com
720-460-8534

Cautionary Note Regarding Forward-Looking Information

This press 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., statements regarding the Company's future production growth, advancement of operations at Shirley Basin, and in supporting the U.S. uranium supply chain, and the future demand for domestic nuclear fuel) 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 achievements expressed 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 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, 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.

SOURCE: Ur-Energy Inc.

Each of the nominee directors listed in the Company's management proxy circular dated April 24, 2026, was elected as a director. The Company received proxies with regard to voting on the eight director nominees as follows:

The Company's independent auditor, BDO USA, P.C., was reappointed by the shareholders, and the directors of the Company were authorized to fix the remuneration of the auditor.

The "say on pay" vote to approve executive compensation was approved with 97.63% of the votes cast voting for the non-binding advisory vote.

The advisory vote on the preferred frequency of voting on executive compensation, or "say when on pay," was returned with a vote of 98.20% for every year, which was the recommendation made by the Company. A total of 0.23% of the votes were cast in favor of every two years and 0.70% in favor of every three years (with 0.87% abstaining). The Board of Directors has adopted the preference expressed by the shareholders in this advisory vote and will conduct advisory votes on executive compensation every year until the Company's next "say when on pay vote" in 2032.

Renewal of the Company's Amended and Restated Stock Option Plan was approved by a majority of the votes represented (55.27%).

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since the commencement of operations, and the Shirley Basin ISR project in central Wyoming, which initiated operations 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 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
Valerie.kimball@ur-energy.com
720-460-8534

SOURCE: Ur-Energy Inc.

Q1 2026 Conference Call and Webcast:

1:00 PM Eastern, 11:00 AM Mountain on May 11, 2026

Audience Webcast URL: https://www.webcaster5.com/Webcast/Page/2307/53995

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since the commencement of operations, and the Shirley Basin ISR project in central Wyoming, which initiated operations 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 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
Valerie.kimball@ur-energy.com
720-460-8534

SOURCE: Ur-Energy Inc.

First Quarter 2026 Financial and Operating Results

Lost Creek Operations:

• Pounds Captured: We captured 110,314 pounds of U₃O₈, a 41% increase over Q4 2025 and a 48% increase over Q1 2025, reflecting improved flow rates following plant modifications and repairs.

• Production: We dried and packaged 95,599 pounds and shipped 103,956 pounds of U₃O₈.

• Inventory: We ended the quarter with 417,231 pounds of finished inventory at the conversion facility. This represents a 14% increase over Q4 2025 and a 13% increase over Q1 2025.

Financial Performance

• Contracted Sales: We sold 55,000 produced pounds of U₃O₈ as anticipated, generating $3.9 million in revenue, with a majority of our 2026 deliveries scheduled for the latter part of the year to complement the ramp-up and start-up schedules of Lost Creek and Shirley Basin.

• Increased U₃O₈ Sales Price: The average price per pound sold during Q1 2026 of $70.98 was $7.78 higher than Q4 2025, driven by deliveries under contracts negotiated in 2024 that contain a more favorable mix of base-escalated and market-based pricing.

• Lower Production Costs: The cash cost per pound of U₃O₈ sold was $37.51 in Q1 2026, a decrease of approximately 13% compared to Q4 2025.

Looking Ahead: Production Expansion and Advancing Exploration

• Lost Creek Operations: We drummed 57,479 pounds in April 2026, our highest monthly total since our 2023 ramp up decision. With a sand filtration system expected to come online this quarter and other optimization initiatives underway, we are positioned for improved flow rates and continued momentum.

• Shirley Basin Operations & Ramp-Up: We commenced operations at our second ISR mining facility in April 2026, reviving a historic uranium district. First shipments of uranium-loaded resin to Lost Creek are expected this summer, subject to final regulatory approval.

• Great Divide Basin Exploration: We continue to advance exploration projects toward production decisions. We have identified 13 ore grade intercepts at North Hadsell; recently commenced aquifer testing at Lost Soldier; and plan to commence an approximately 120-hole program at LC South this summer with the potential to extend Lost Creek mine units.

• Liquidity: Unrestricted cash and cash equivalents totaled $122.8 million at March 31, 2026. Our unrestricted cash position was $107.5 million as of April 30, 2026.

Summary Performance Table

1. All sales were under long-term contracts. No pounds were sold in Q1 2025 due to the timing of contracts.

2. Pounds in inventory at conversion facility.

3. Includes ad valorem and severance taxes but excludes non-cash costs.

4. Unrestricted cash position at the end of the quarter.
   Percentages may not recalculate precisely due to rounding.

Ur-Energy President and CEO, Matthew Gili, commented: "While most of our contracted deliveries are scheduled for later in the year, our first quarter results reflect higher contract sales pricing and continued operational improvements at Lost Creek, where our primary focus is driving higher production and efficiency. We are actively optimizing flow rates, bringing new header houses online, and enhancing plant performance to deliver sustained improvements. The start of operations at Shirley Basin, our second ISR mining facility, marks a major milestone for Ur-Energy and greatly expands our potential U.S. uranium production capacity. We look forward to commencing uranium-loaded resin shipments to Lost Creek this summer as we continue to execute on our growth strategy."

Lost Creek Operations

In Q1 2026, we sold 55,000 pounds of U₃O₈ at an average price of $70.98 per pound, generating $3.9 million in revenue. We dried and packaged 95,599 pounds of U₃O₈, an increase of 15% over Q1 2025, and shipped 103,956 pounds, compared to 138,337 pounds in Q4 2025 and 106,301 pounds in Q1 2025. Finished inventory at the conversion facility increased to 417,231 pounds at quarter-end, up 14% from Q4 2025 and 13% from Q1 2025.

Lower drummed and shipped volumes reflect reduced flow rates in late 2025 to allow the plant to make processing modifications and perform additional repairs, which limited pounds available for processing in the quarter. In Q1 2026, pounds captured totaled 110,314, up 41% from Q4 2025, as flow rates improved. These modifications, largely completed in Q4 2025, enhance processing efficiency and are expected to support higher annual production.

During the quarter, 15 header houses ("HHs") were in operation, with 13 in MU2 and two brought online in MU1 Phase 2. Development at MU1 Phase 2 remains on schedule, with all planned wells drilled and cased and seven of 10 planned HHs constructed. We continued delineation and development in MU4 and MU5 and initiated wellfield pattern planning for MU5. At quarter-end, 15 drill rigs were actively supporting our Lost Creek drilling program.

Optimization efforts are underway to improve flow rates affected by fine particles from the host formation, including the installation of a sand filtration system, which is expected to be online in Q2 2026. We are also actively developing a water treatment facility to further address fine particles and reduce wastewater.

We remain focused on increasing uranium production through the transition to MU1 Phase 2, bringing additional HHs online, optimizing wellfield chemistry, and enhancing maintenance and plant systems.

Shirley Basin: Operations Commenced in April 2026

By the end of Q1 2026, we had significantly advanced wellfield development and plant construction at Shirley Basin, our second ISR mining facility, a satellite operation integrated with Lost Creek, where uranium captured on resin will be transported to Lost Creek for final processing, drying, and drumming. The project is designed with three shallow mine units and is expected to enhance operational flexibility and scale.

During Q1 2026, in our first mine unit ("MU1"), HH 1-1 was connected to the plant, and installation of HH 1-2 progressed, with the main pipeline completed for the first four header houses. Wellfield development continued across HH 1-3 through HH 1-8. As of March 31, 2026, 540 wells had been pilot drilled, 312 of those wells had been cased, and eight drill rigs were active. Five HHs have been constructed, with additional units underway.

Construction progressed during the quarter across all major workstreams, with key infrastructure substantially complete, including roads, power, support facilities, evaporation ponds, and the plant structure. Ion exchange columns and most tanks have been installed, with ongoing work focused on piping, electrical systems, and interior plant construction.

Following completion of pre-operational inspections by the Wyoming Department of Environmental Quality, HH 1-1 was brought online in April 2026, marking the start of initial operations, with uranium-bearing solution now flowing through the plant and uranium being captured on resin. Uranium concentrations are expected to increase as the wellfield is further conditioned and additional circuits come online.

Subject to final regulatory approval, we expect to transport uranium-loaded resin to Lost Creek this summer. This milestone will represent the transition of Shirley Basin to commercial operations, substantially increase our production capacity, and add a much-needed domestic uranium supply to support the expanding nuclear energy industry.

Construction will continue through 2026, with additional plant systems planned for 2027. The site is fully staffed, supported by a phased hiring and training program aligned with operational ramp-up.

First Quarter 2026 Great Divide Basin Exploration Activities

Exploration activities continued across our Great Divide Basin projects. At Lost Soldier, located 17 road miles from the Lost Creek plant, aquifer testing commenced in April 2026 on test wells installed in 2025. Baseline environmental studies are planned this year to support potential permitting. With approximately 4,000 historic drill holes and proximity to Lost Creek, Lost Soldier has strong potential as a satellite operation. A technical report is underway with completion expected by year-end 2026.

At North Hadsell, 33 framework drill holes totaling approximately 33,800 feet were completed prior to seasonal sage grouse restrictions in March 2026. Seven holes returned significant mineralization, including 13 intercepts exceeding 0.20 GT (Grade (%eU₃O₈) times Thickness (ft)), which closely resembles the mineralization at Lost Creek. Results indicate a stacked roll-front system with up to eight individual roll fronts at ISR-amenable depths of about 300 to 800 feet.

Reclamation work at North Hadsell is planned this summer ahead of future drilling, and an approximately 120-hole exploration drill program is expected to commence at LC South in summer 2026.

Q1 2026 Conference Call and Webcast:

1:00 PM Eastern, 11:00 AM Mountain on May 11, 2026

Audience Webcast URL: https://www.webcaster5.com/Webcast/Page/2307/53995

U₃O₈ Product Profit (Loss)¹

The following table provides information on our U₃O₈ product profit and loss: