Ur-Energy Inc.
TSX : URE

Ur-Energy Inc.

November 30, 2006 10:00 ET

Ur-Energy Announces Private Placement

DENVER, COLORADO--(CCNMatthews - Nov. 30, 2006) -

Not for distribution in the United States or with United States newswire services

Ur-Energy Inc. (the "Company") (TSX:URE) is pleased to announce that it has entered into an engagement letter with GMP Securities L.P. ("GMP") providing for the private placement of up to 500,000 common shares of the Company to be issued on a "flow-through basis" at a price of $5.00 per share for aggregate gross proceeds of up to $2,500,000.

The private placement is expected to close on December 14, 2006 or such other date as the Company and GMP may agree and is subject to regulatory approval, including the approval of the Toronto Stock Exchange.

The Company intends to use the proceeds of the private placement to fund its exploration activities at its Thelon Basin Projects located in the Northwest Territories, and its Bugs Property in Nunavut. Specifically, the Company intends to complete the first phase of drilling at its Screech Lake Project and to complete further reconnaissance work at its Bugs Project.

Ur-Energy is a junior mining company focused on production of uranium from properties in the United States and exploration for uranium deposits in both the USA and Canada. Shares of the Company trade on the Toronto Stock Exchange under the symbol URE. Ur-Energy has its registered corporate office in Ottawa, Canada and its headquarters in Littleton, Colorado. The Company's website is at www.ur-energy.com.

Forward Looking Statements:

Certain information regarding the Company set forth in this press release, including management's assessment of the Company's future plans and operations contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of reserve estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Company's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide any benefits to the Company.

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