Energy Metals Corporation

Energy Metals Corporation

April 06, 2006 11:00 ET

Energy Metals and Ur-Energy Consolidate Wyoming Property Holdings

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 6, 2006) - Energy Metals Corporation (TSX VENTURE:EMC) (Energy Metals) and Ur-Energy Inc. (TSX:URE) (Ur-Energy) announced today they have signed an agreement to complete a land swap enabling each company to consolidate their respective land positions in specific project areas of Wyoming.

Energy Metals and Ur-Energy each control properties adjacent to the other's in several districts throughout Wyoming. The companies determined that a trade of certain properties of similar valuation allows the consolidation of property positions and creates greater efficiencies in exploration and future mine planning.

Energy Metals will be trading its TD project to Ur-Energy for their property holdings in the Red Rim project area and the Eastern Shirley Basin project area. Energy Metals will receive Ur-Energy's 356 unpatented "F" mining claims located in the southern Great Divide Basin in Carbon and Sweetwater Counties, Wyoming along with 2 unpatented "Rita" mining claims located in the Shirley Basin in Carbon County, Wyoming. Ur-Energy will receive 28 unpatented mining claims known as the TD group in Albany County, Wyoming which will further consolidate Ur-Energy's Boot Heel project.

The land trade includes the physical properties as well as all data owned by each company on the respective properties. A valuation of the properties by both companies has been agreed upon. The value of the 356 "F" claims plus the 2 "Rita" claims of Ur-Energy is considered to be approximately equivalent to that of the 28 "TD" claims of Energy Metals. Both Ur-Energy and Energy Metals state that this property trade enables consolidation of their land positions in areas where each is planning additional exploration and/or may hold portions of an historical resource.

Both companies have developed a long-term strategy that has been designed to take advantage of the growth of electrical energy demand in the United States and worldwide which is occurring at a time when uranium mine supplies are dwindling and inventories are being depleted.

Energy Metals Corporation is targeting prospective advanced uranium properties in Wyoming, Texas and New Mexico that are amenable to ISL (in-situ leaching). This form of uranium mining was pioneered in Texas and Wyoming and utilizes water wells and oxygen-fortified groundwater to mine the uranium in place. Energy Metals is also actively advancing other conventional mining and ISL opportunities for uranium properties in the States of Utah, Nevada, Oregon and Arizona.

Energy Metals is a Canadian listed company involved in developing resources to power the 21st century. The Company has adopted a corporate strategy to focus on the acquisition and development of uranium assets in politically favorable and mining-friendly jurisdictions within the United States to take advantage of growing electrical energy needs in the U.S. and worldwide. This increasing consumption is occurring at a time when uranium mine supplies are dwindling and inventories are being depleted.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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