June 4, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Uranium Energy Corp (AMEX: UEC) said it has acquired the full database of historic drill results for the company's 100%-controlled Seager-Salvo in-situ recovery uranium project in Bee County Texas.

The Seager-Salvo project is one of the more prospective exploration lease holdings acquired by Uranium with its purchase of the South Texas Mining Venture in December 2009, which included the fully licensed Hobson plant and the Palangana in-situ recovery uranium project.

The lease covers around 1,500 contiguous acres, and was initially established in the early 1980s by Nufuels Corp., Mobil Oil's uranium division, and subsequently acquired and further developed by Uranium Resources Inc.

An historic uranium resource of around 1.5 million pounds of U3O8 was developed by URI. The historic resource is based on 433 holes drilled and logged by Nufuels and URI, and complimented by Princeton Gamma Tech direct uranium assay logging.

Uranium Energy said that the historic resource is located in multiple roll fronts occurring in "stacked" sands in the Goliad Formation. The company's U3O8 resources at both Goliad and Palangana are also in the Goliad Formation. The Seager-Salvo project is located approximately 70 miles from the company's Hobson processing facility.

Texas-based Uranium Energy is an exploration and development company with the objective of near-term uranium production in the U.S. The company's Hobson processing facility is central to all of its projects in South Texas, including the fully-permitted Palangana in-situ recovery project, and the Goliad in-situ recovery project which is in the final stages of mine permitting for production.

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