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January 2012 Ur-Energy Corporate Presentation

Jan 23, 2015




  • 1. N YSE Am ex : UR G TSX : UR EUr-Energy is an Advanced Pre-ProductionJunior Mining CompanyFocused on development of low-costuranium production properties in theUnited States. Corporate Objectives: Low Cost U.S. Uranium Production Resource Growth Strategic OpportunitiesCorporate P resentationJanuary 2012

2. DisclaimerThis presentation contains forward-looking statements, within the meaning of applicable securities laws, regarding events or conditions that mayoccur in the future. Such statements include without limitation the long term effects on the uranium market of events in Japan in 2011 includingsupply and demand projection; the Companys timeframe for events leading to and culminating in the commencement of production at Lost Creek;the technical and economic viability of the Lost Creek Project (including the projections contained in the preliminary analysis of economics of the LostCreek Project); receipt of (and related timing of) Record of Decision from the U.S. Bureau of Land Management related to the Lost Creek Project; theLost Creek Project will advance to production and the production timeline; production rates, timetables at the Lost Creek Project; the Companysprocurement and construction plans at the Lost Creek Project; the ability to complete additional favorable uranium sales agreements; the potential ofexploration targets on the LC North and LC South and on the Lost Creek Project area outside the current Lost Creek resource area; and the furtherexploration, development and permitting of exploration projects including Lost Soldier, the exploration properties in Nebraska, and Screech Lake.These statements are based on current expectations that, while considered reasonable by management at this time, inherently involve a number ofsignificant business, economic and competitive risks, uncertainties and contingencies. Numerous factors could cause actual events to differmaterially from those in the forward-looking statements. Factors that could cause such differences, without limiting the generality of the following,include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium; volatility and sensitivity to capital marketfluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource andreserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; apossible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies;demand for nuclear power; weather and other natural phenomena; delays in obtaining or failures to obtain required governmental, environmental orother project approvals; and other exploration, development, operating, financial market and regulatory risks. Although Ur-Energy Inc. believes thatthe assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which onlyapply as of the date of this presentation. Ur-Energy Inc. disclaims any intention or obligation to update or revise any forward-looking statement,whether as a result of new information, future events or otherwise.Cautionary Note Regarding Projections: Similarly, this presentation also may contain projections relating to an extended future period and,accordingly, the estimates and assumptions underlying the projections are inherently highly uncertain, based on events that have not taken place,and are subject to significant economic, financial, regulatory, competitive and other uncertainties and contingencies beyond the control of Ur-EnergyInc. Further, given the nature of the Companys business and industry that is subject to a number of significant risk factors, there can be noassurance that the projections can be or will be realized. It is probable that the actual results and outcomes will differ, possibly materially, from thoseprojected.The attention of investors is drawn to the Risk Factors set out in the Companys Annual Information Form and Annual Report on Form 40-F, datedMarch 17, 2011, which are filed, respectively, with the regulatory authorities in Canada on SEDAR and with the U.S. Securities and ExchangeCommission on EDGAR. ( and Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources: the information presented uses theterms "measured", "indicated" and "inferred" mineral resources. United States investors are advised that while such terms are recognized andrequired by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. United States investorsare cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. UnitedStates investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally minable.John Cooper, SME Registered Member, a Professional Geologist, and Qualified Person as defined by National Instrument 43-101,reviewed the technical information contained in this presentation.2N YSE Am ex : UR G TSX : UR E 3. Ur-Energy At A Glance Advanced Pre-Production Project at Lost Creek, Wyoming4-years invested in the regulatory processOne approval remaining Low-Cost Uranium Production Center that will be Cash-Flow Positive in Current Market Expanding Resources through Exploration and Acquisition Low Technical, Political and Regulatory Risk StrategySee Disclaimer re Forward-looking Statements and Projections (slide 2) 3 N YSE Am ex : UR G TSX : UR E 4. Ur-Energys Market PositionShare Capital & Cash Position NYSE Amex: URGAs of 10/24/11Shares Outstanding103.7MStock Options & RSUs6.5MFully Diluted 110.2MMarket Cap (01/06/12) C$94.2MCash (09/30/11) C$28.8MDebt $0Cash per share (09/30/11) ~C$0.30Share price (01/06/12)C$0.89 TSX: URE52 Week Range C$.79 - $3.35Avg. Daily Volume ~466,000(3-mo URG & URE 01/06/12)Member of Russell 3000 & 2000 and S&P/TSX SmallCapIndexesGeographical Distribution as of 6/30/11United States ~48%Canada~38%Other ~14% 4N YSE Am ex : UR G TSX : UR E 5. Analyst CoverageUnited StatesGVC Capital Mike Shonstrom (Denver, CO)1 303-321-2392Rodman & RenshawWayne Atwell (New York, NY)1 212-356-0513CanadaDundee Securities David A. Talbot (Toronto, ON) 1 416-350-3082Haywood SecuritiesGeordie Mark (Vancouver, BC)1 604-697-6112Raymond James 1 604-659-8282RBC Capital Adam Schatzker (Toronto, ON)1 416-842-7850AustraliaResource Capital Research Trent Allen (Sydney, NSW) 61 2-9252-9405Ur-Energy Inc is followed by the analysts listed above. This list, including the firms and individual analysts at these firms,is subject to change at any time without notice. Please note that any opinions, estimates, forecasts, conclusions orrecommendations regarding Ur-Energy Incs performance made by these analysts are theirs alone and do not representopinions, estimates, forecasts, conclusions, recommendations or predictions of Ur-Energy Inc or its management. Ur-Energy Inc does not by its reference above or in any other manner imply its endorsement of or concurrence with suchinformation, conclusions or recommendations. 5N YSE Am ex : UR G TSX : UR E 6. The US Uranium MarketThe US produces ~ 4M lbs of uranium/yr1The US consumes 55M lbs of uranium/yr1 contributing 20% of US electricityIn 2010, the 10-year forward cumulative unfilled uranium requirement of USutilities was 274M lbs2Ur-Energy is well positioned to capitalize on this opportunity Chart from U.S . Energy Information Administration 1 Northwest Mining Association 2 U.S. Energy Information AdministrationSee Disclaimer re Forward-looking Statements and Projections (slide 2)6 N YSE Am ex : UR G TSX : UR E 7. Post-Fukushima Nuclear Remains Positive*HEU Agreement to expire 2013 Provides 13% of world and 45% of US annual supply63 reactors remain under constructionRussia, China and India represent 50% of new builds and havereaffirmed support for nuclear powerSaudi Arabia & the United Kingdom have announced plans to build24 new reactors combinedOctober 2011 Nuclear Energy Institute survey shows two-thirds ofAmericans support nuclear energy*According to World Nuclear AssociationSee Disclaimer re Forward-looking Statements and Projections (slide 2) 7 N YSE Am ex : UR G TSX : UR E 8. Growth of Nuclear Will Continue Historically, growth of nuclear power continued despite major accidents Growth expected to continue beyond Fukushima at 10 reactors per year10 years, 10.2reactors peryearNumber of Reactors22 years, 4reactors peryear8 years, 21.9reactors peryear Fukushima13 years,11.3reactors Chernobylper yearThree Mile Island Source: W orld Nuclear AssociationSee Disclaimer re Forward-looking Statements and Projections (slide 2) 8N YSE Am ex : UR G TSX : UR E 9. Supply/Demand Imbalance GrowsHow will supply be able to expand to the extent necessary to meet growing demandlevels in the post Fukushima environment of uncertainty and low prices?More damage done to uranium supply than uranium demandHEU Program expires in 2013 with no extension being consideredSource: UxC Uranium M arket OutlookSee Disclaimer re Forward-looking Statements and Projections (slide 2)9 N YSE Am ex : UR G TSX : UR E 10. Experienced Management Team Board of DirectorsEx ecutive DirectorsWayne W. Heili, President & Chief Executive Officer (Metallurgical Engineer)Jeffrey T. Klenda*, Board Chairman, Executive Director (Mining Finance)Non-Ex ecutive DirectorsW. William Boberg*, Former President & CEO (Professional Geologist)James M. Franklin*, Chair-Technical Committee (Professional Geologist)Paul Macdonell*, Chair-Compensation and Corp. Governance & Nominating Committees (Senior Federal Mediator)Thomas H. Parker, Chair-Audit Committ