UPA MEMBER COMPANY PROFILES AND PRODUCTION CAPACITY
PER YEAR – 20.5 MM POUNDS U3O8, 1,635 CAREER JOBS, $1 BILLION REVENUE

The domestic uranium industry is well positioned to increase production. As described below, new projects are now underway by existing operators and new firms to expand and develop production capacity to take advantage of the bullish uranium market by: 1) increasing feed to the exiting licensed facilities.; 2) starting new operations by acquiring, permitting and producing known uranium deposits; 3) by obtaining exploration rights on blocks of geologically favorable unexplored land and conducting exploration programs.

Cotter Corporation is a General Atomics affiliate headquartered in Denver, Colorado who was originally incorporated in 1956 in New Mexico as a uranium production company. Cotter was purchased by and became a wholly owned subsidiary of Commonwealth

Edison in 1975. GA acquired Cotter in early 2000.  The Cañon City mill, Colorado, has a nominal capacity of 1,200 tons per day (1.5 MM lbs U3O8 annually). The mill has the capability and is licensed to process a wide range of uranium-bearing feed material, as well as performing specialized milling campaigns.

Mining operations owned or controlled by Cotter include numerous uranium/vanadium properties in the Uravan Mineral Belt of western Colorado and 15 uranium/vanadium mines in southwest Colorado. Combined recoverable reserves for the properties are approximately 20 million pounds U3O8 (7,700 mtU) and 100 million pounds (45,400 tonnes) V2O5. Cotter¹s uranium holdings in Wyoming are the undeveloped Charlie and Taylor Ranch deposits in the Southern Powder River Basin in northeast Wyoming. The Charlie deposit contains 4.2 million pounds U3O8. Cotter Corporation owns a 50% interest in the Taylor Ranch deposit through a joint venture with Cameco Corporation has reserves of 10.0 million pounds U3O8.

EMC is targeting a prompt startup of the Texas facilities as early as late 2007 followed by development of two major new production centers in the Powder River and Great Divide Basins of Wyoming.  Evaluation and initial permitting activities are now underway at all three locations. EMC plans to reach a sustained yellow cake production level of 5 million pounds per year by 2012 with 4 million pounds originating in Wyoming and at least 1 million in Texas.  Based on historic resource estimates, EMC’s uranium resource base is expected to exceed 235 million pounds by the end of 2006.  Forward capital expenditures for commercial development will top $75 million with resulting operating teams totaling about 200 employees and annual payrolls in excess of $6 million.

International Uranium Corporation (IUC) is engaged in uranium exploration and production. It holds uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operatinguranium mills in the U.S.). IUC also processes and recycles uranium-bearing waste materials at its uranium mill as an environmentally superior alternative to direct disposal. 

IUC’s U.S. operations include the White Mesa Mill and permitted mines in Colorado, Utah and Arizona. All of the mines are underground operations and last operated inthe late 1980’s and late 1990’s. IUC is currently evaluating the re-start of its U.S. mines which would result in the production of

1.0 to 2.0 million pounds per year of yellowcake by 2008. To bring the mines back into production will require capitalexpenditures in the range of $25 to $30million. The White Mesa Mill is currently operating, processing alternate feed material,which will result in the production of approximately 500,000 lbs of uranium in 2006. The Mill’s primary contractor is a native owned company, White Mesa Inc., whichprovides the hourly labor and other services for IUC. The White Mesa Mill provides criticalinfrastructure for the entire Four Corners uranium industry by providing additional

milling capacity for the processing of uranium/vanadium ores from other mines in the area owned by small miners and other uranium companies. IUC is one of the largest industrial employers in San Juan County, Utah and in over 25 years of operation has had no environmental violations from White Mesa Mill.

Laramide Resources Ltd. Laramide Resources, LTD is a uranium development corporation with significant uranium holdings in Colorado, New Mexico and Utah.    The La Jara Mesa Project in Cibola County, New Mexico; the Melrich Project, McKinley County, New Mexico; the Los Ochos Project, Saguache County, Colorado and the La Sal II Project, San Juan County, Utah ware currently being evaluated for development and production for underground mining and ISR. Over the next 5 years the company plans to perform the requisite permitting.

Mestena Uranium LLC. is a privately held Texas corporation that is developing and the Alta Mesa is the newest ISR uranium recovery facility in the world, and it is constructed using state-of-the-art technology and best industry practices for uranium ISR. The operation uses conventional ion exchange, precipitation processes, and uses a low temperature, zero emission rotary vacuum dryer. The facility and wellfields are designed for flexibility of operations. Mestena Uranium LLC is the largest private employer in Brooks County with over 125 company and contract employees.

Power Resources, Inc. and Crow Butte Resources, Inc. The Smith Ranch-Highland and Crow Butte ISR uranium operations are 100% owned by Cameco Corporation of Canada through its U.S. subsidiaries Power Resources, Inc. and Crow Butte Resources, Inc. They are the largest uranium producers in the U.S. with ISR operations in Wyoming and Nebraska.  

The Smith Ranch and Highland properties in Wyoming share a common border and are operated as a single facility. Proven and probable reserve are16.1 million pounds U3O8. 2005 production was 1.3 million pounds U3O8 and the annual capacity is 4.0 million pounds U3O8. Direct employment at the mine is 92.

The Crow Butte operation, located near Crawford, Nebraska, has its own production facilities. Proven and probable reserves are 8.8 million pounds U3O8. 2005 production was 800,000 pounds U3O8 and the annual capacity is 1.0 million pounds U3O8. Direct employment at the mine is 55.

Strathmore Minerals Corporation is a resource company doing business in the United States as Strathmore Resources US, Ltd. Strathmore specializes in the strategic acquisition, exploration, and development of uranium properties.  

Strathmore has domestic and international uranium property holdings.  Its New Mexico properties include its Church Rock, Roca Honda, Nose Rock and Dalton Pass holdings. In Wyoming, Strathmore holds property at Pine Tree-Reno Creek, Cedar Rim, Red Creek, Copper Mountain, and other holdings in the Powder River Basin, Shirley Basin, Red Desert and Gas Hills areas.  Strathmore also has uranium properties in South Dakota. Strathmore also has significant holdings in Canada, including approximately 3 million acres in the Provinces of Saskatchewan, Alberta, and Quebec, most notably in the Athabasca Basin and at Dieter Lake.  Strathmore also has significant property holdings in South America.

Strathmore is currently assessing all of its properties to determine how to best bring them to production. The company has begun the permit application preparation process for some of its New Mexico properties, including its Church Rock project.  It is also evaluating the time requirements to develop other domestic properties.  Primary focus at this time is the potential use of ISR methods; however the company is also evaluating conventional mining and milling scenarios.  

Uranium Energy Corp is a US-based exploration and development resource company with the near-term objective of uranium production in the United States. The company has a mandate to acquire historical uranium resources that can quickly be developed into producing uranium mines. Its management is comprised of veteran mining and exploration professionals eminent in the field of uranium, whose collective experience in the mining industry, and specifically in the uranium mining sector, gives the Company over 200 years of uranium mine finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the world's first significant alternative energy boom.

The company is presently developing and permitting its Weesatche Project located in Goliad County, TX. Production is expected to commence in early 2010 with other projects coming on stream to provide the company with a diverse operating platform in which to supply yellowcake to the nuclear industry. Capital investment for the Weesatche Project will amount to approximately US$20 million with an expected employment base of 90 company/contractor workforce.

The company owns leases, state leases, and claims in historic uranium districts within Texas, Wyoming, New Mexico, Colorado, Utah, and Arizona. The company’s main office is located in Austin, Texas with field offices situated in Corpus Christi, and Kingsville, TX, Casper, Wyoming, and Albuquerque, New Mexico. 

Uranium Resources, Inc. is the oldest domestic ISR uranium company. In Texas, the company’s subsidiary URI, Inc. will ncrease feed to the licensed Kingsville Dome central plant to achieve an annual production rate of 1.6 million lbs. This will be achieved through satellite production from the Vasquez wellfields at 800 thousand lbs/yr. and production from the Kingsville Dome wellfields at 800 thousand lbs/yr. The Rosita plant is URI’s fully licensed uranium process facility in Duval County with a nominal annual capacity of 800 thousand lb/yr.  The plant has a fully permitted and operating waste disposal well on site. It is centrally located to numerous
 

small 1 – 2 million pound deposits that are amenable to ISR methods that would not support the capital investment of a full facility alone, but would make excellent candidates for satellite style operations.  With this type of operation planned, URI will upgrade the Rosita to 800 thousand lbs/yr. by adding a vacuum dryer. Recognizing the resource quality, in New Mexico the company’s subsidiary, HRI, Inc., has acquired a large land position of carefully chosen properties that have had proven in place mineralization that are amenable to ISR recovery and acquired the geological database that goes with each property.

These properties include the Churchrock; Unit 1; Crownpoint; Roca Honda; West Largo and; Nose Rock. The plan is to bring on the NRC licensed Church Rock Section 8 property in 2007. With successful operations at Churchrock and the completion of the requisite permitting HRI would next bring on production at the Unit 1 site as shown, and then Crownpoint; ramping up to a sustained 2.4 million pounds per year which is within the quantity allowed for in its NRC license.  Development of the Roca Honda, West Largo and Nose Rock are included HRI’s plans.

U.S. Energy is a Wyoming based natural resource company that was founded in 1966 as a contract mining firm serving the uranium industry. The fully Permitted 750-1000 tpd (1.5 MM lbs U3O8 annually) Shootaring Uranium Mill is one of the four remaining domestic uranium mills with nearby resources expected to exceed 50 MM lbs. The plan is to upgrade the mill and tailings facility to begin operations in 2008 at a cost of $35-50 million. The Sheep Mountain uranium mines in central Wyoming and 32,500+ acres in uranium claims and state leases will be developed to provide feed for the Shootaring uranium mill. In addition U.S. Energy holds four extensive uranium libraries (from past producers). Mine and infrastructure development for 2007 to 2010 and onward will consist of adding 8 Mines with total estimated mine development cost of $112­172 million

U.S. Energy’s plans call for the creation of 135-160 long term jobs with an estimated annual payroll of $9.7-11.6 million and a total potential investment of $174-239 MM from the period 2006-2010. Significant tax revenues to local, state and federal governments will be realized and the project(s) will provide benefits and jobs to an area of Utah that suffers from high unemployment.

Western Uranium Corporation (WUC) is a Canadian based resource company focused on exploration, acquisition and advancement of uranium properties primarily in North America.  The company operates in the United States through its wholly owned subsidiary Western Energy Development Corp. and in Canada through its wholly owned subsidiary Ruby Hill Exploration Inc. To date the company has acquired three properties located in Nevada and New Mexico, previously explored during the last uranium cycle by Chevron Resources, Exxon, and Conoco.  All properties have drill defined mineral inventories totaling approximately 31 million pounds U3O8.  In addition the projects  demonstrate considerable exploration potential to host additional pounds of uranium.   Through staking efforts and leases WUC holds over 60,000 acres of prospect-able ground in geologically favorable environments in the US.

Through the acquisition of Ruby Hill Exploration Inc. the company acquired 486,000 acres of highly prospectable ground in the Thelon Basin that is located in the Northwest Territory and Nunavut, Canada. The Thelon Basin is geologically similar to the Athabasca Basin which produces nearly 30% of the world uranium requirements from high grade uranium deposits. The Thelon Basin is under-explored relative to the amount of exploration activity conducted in the Athabasca Basin. The company has completed an airborne Mega-tem geophysical survey that has identified several strong anomalies that will be followed up in the up-coming field season.  The land position Western Uranium Corporation holds in the Thelon Basin affords the company an opportunity to discover a high grade uranium deposit.

1 MILLION LB/YR U3O8 ISR FACILITY PRODUCTION CAREER POSITIONS