Ur-Energy Inc.

Ur-Energy Inc.

May 29, 2006 12:12 ET

Boberg Appointed CEO of Ur-Energy

DENVER, COLORADO--(CCNMatthews - May 29, 2006) - Ur-Energy Inc. (TSX:URE) (Ur-Energy) announces the confirmation of W. William (Bill) Boberg as CEO of the company. He was appointed President and Acting CEO in January 2006. Jeffrey Klenda, Chairman of the Board of Directors of Ur-Energy stated: "The Board of Directors recognized, after Bill Boberg had been Acting CEO since January, that Bill has a more extensive depth of knowledge of the uranium sector and specifically the geology of uranium deposits in Wyoming than almost anyone. This knowledge, his management abilities and his important contacts in the uranium resource sector all have assisted us in building Ur-Energy. Confirming him as CEO is a logical step." Following Ur-Energy's Annual Meeting held in Denver, Mr. Boberg became an employee of the Company devoting his full efforts to increasing shareholder's value in URE. Previously, Bill Boberg had been retained as a consultant to the Company.

Bill Boberg has over 35 years experience investigating, assessing and developing a wide variety of mineral resources in a broad variety of geologic environments in western North America, Africa, Asia and South America. Bill has over twenty years experience exploring for uranium in the continental US with particular emphasis on Wyoming. He has worked for Hecla Mining Company, Anaconda, Conoco Minerals, Wold Nuclear, Kennecott, Western Mining Corporation and Canyon Resources, holding management positions in most of these companies, as well being president of Africa Mineral Resource Specialists. While with Conoco he discovered the Moore Ranch uranium deposit as well as several smaller deposits in Wyoming's Powder River Basin. While with Wold Nuclear he managed a nationwide uranium exploration program which significantly increased the Company's reserve/resource base as well as making new deposit and new uranium district discoveries. In addition to uranium he has explored for gold, silver, copper, diamonds, oil & gas and many other mineral resources. He is a registered Professional Geologist in Wyoming and a Certified Professional Geologist through the American Institute of Professional Geologists.

Ur-Energy is currently permitting and conducting engineering studies leading to production at its Lost Creek and Lost Soldier uranium deposits.

Ur-Energy is a dynamic junior mining company engaged in the identification, acquisition and exploration of uranium properties in Canada and in the United States. Shares of the corporation trade on the Toronto Stock Exchange under the symbol URE. The Board of Directors is also pleased also to announce that Ur-Energy has moved its registered corporate office from Orleans to Ottawa, Canada with a toll free number of (877) 692-7704The Company's website is at www.ur-energy.com.

The Qualified Person for Ur-Energy Inc., as defined by National Instrument 43-101, is W. William Boberg, President and CEO.

This release contains forward-looking statements regarding capital and processing cost estimates, production rates, amounts, timetables and methods, mining methods, metallurgical recovery rates, government permitting timetables and strategic plans and are based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and other costs varying significantly 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 factor. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward looking statements. The forward-looking statements contained herein are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances.

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