Ur-Energy Inc.
TSX : URE

Ur-Energy Inc.

April 06, 2006 09:00 ET

Ur-Energy and Energy Metals Consolidate Wyoming Property Holdings

DENVER, COLORADO--(CCNMatthews - April 6, 2006) - Ur-Energy Inc. (TSX:URE) (Ur-Energy) and Energy Metals Corporation (TSX VENTURE:EMC) (Energy Metals) 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.

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

Ur-Energy will be trading its Shamrock project and its Chalk Hills project to Energy Metals for their property holdings in the Bootheel project area. Ur-Energy will receive Energy Metals' 28 unpatented mining claims known as the TD group in Albany County, Wyoming which will further consolidate Ur-Energy's Bootheel project. 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.

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.

Ur-Energy is a dynamic junior mining company engaged in the identification, acquisition and exploration of uranium properties in Wyoming, USA and in Canada. Shares of the corporation trade on the Toronto Stock Exchange under the symbol URE. Ur-Energy has its registered corporate office in Ottawa, Canada. The Company's website is at www.ur-energy.com.

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 resources are dwindling and metal inventories are being depleted.

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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