Ur-Energy Inc.
TSX : URE

Ur-Energy Inc.

April 06, 2006 11:00 ET

Ur-Energy Inc. Increases Historical Resource Base with Property Consolidation

DENVER, COLORADO--(CCNMatthews - April 6, 2006) - Ur-Energy Inc. ("Ur-Energy" or the "Company") (TSX:URE) announced today that the property trade recently entered into with Energy Metals Corporation (Energy Metals) (Ur-Energy press release dated April 6, 2006) results in an addition of resources of 2.7 million pounds U3O8 to its historical resource base. These resources are not NI 43-101 compliant but are previously calculated resource estimates by a major mining company that worked on the properties prior to Ur-Energy's involvement.

"Our property trade with Energy Metals has enabled us to consolidate our land position at our Bootheel project in the Eastern Shirley Basin of Wyoming. This property was previously carried by a major uranium company as containing 2.7 million pounds U3O8" said Bill Boberg, President and CEO of Ur-Energy.

Ur-Energy controls nine properties in Wyoming, one of the most mining-friendly States in the USA in which to explore for and mine uranium. The current Governor of Wyoming has endorsed the fact that the State is open for business in all areas of resource development, including uranium.

Of the nine properties held by Ur-Energy, five are in the Great Divide Basin; two of these (Lost Soldier and Lost Creek) contain major, well drill-defined historical resources. The Company previously reported (Ur-Energy press release dated January 23, 2006) that it completed a drilling program which will lead to an NI 43-101 defined resource and which will enable Ur-Energy to rapidly advance both deposits to production. At Lost Soldier, production is expected to start as early as 2008.

In a Press Release dated March 20, 2006, Ur-Energy reported that it had a total historical resource of 84.6 million pounds U3O8 based on historical reports in its extensive database. With the addition of these historical resources for the Bootheel project, Ur-Energy now has 87.3 million pounds of historical uranium resource. "We expect to continue to add to our resource base as well as to maximize the value of our Company to our shareholders through similar property consolidations, joint ventures, or using our extensive data base in project generation, data trades and sales" said Boberg.

NOTE: (The resources stated above are historical in nature and were compiled before the implementation of National Instrument 43-101 reporting standards. Recent independent verification of the data has not been performed, except for the Lost Soldier and Lost Creek deposits whereby the Company is currently determining a NI 43-101 compliant resource estimate. The Company has not completed sufficient exploration on its other properties to verify the historical resource estimates. The historical resources were prepared to industry standards in place at the time and are considered relevant today. The historical resources noted above are not in agreement with the CIM definitions as required by NI 43-101 defined resources or reserves verified by a qualified person and the historical estimates should not be relied upon.)

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 Company 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.

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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