Uranerz Energy Corporation
TSX : URZ
NYSE MKT : URZ
FRANKFURT : U9E

Uranerz Energy Corporation

November 12, 2013 16:26 ET

Uranerz Announces Third Quarter 2013 Financial Results

CASPER, WYOMING--(Marketwired - Nov. 12, 2013) - Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX:URZ)(NYSE MKT:URZ)(FRANKFURT:U9E) has released its financial results for the quarter ended September 30, 2013 as filed with the United States Securities and Exchange Commission ("SEC") and in Canada with the Canadian securities administrators (on SEDAR).

The financial information presented is in accordance with U.S. generally accepted accounting principles. As an Exploration Stage Company without "proven or probable reserves", we expense all costs related to constructing our first mine as incurred, in accordance with the SEC's Industry Guide 7.

During the nine months ended September 30, 2013, mineral property expenditures totaling $12,762,426 (2012 - $18,117,336) were expensed, including processing facility construction and wellfield expenditures totaling $11,797,330 (2012 - $16,886,003). As of September 30, 2013, the Company has expensed processing facility construction and wellfield expenditures related to its Nichols Ranch ISR Uranium Project totaling $42,831,585 (December 31, 2012 - $31,034,255).

Financial Position at

September 30,
2013
December 31,
2012
Cash and Cash Equivalents $ 7,548,367 $ 7,016,710
Working Capital $ (1,065,590 ) $ 5,718,050
Total Assets $ 11,918,615 $ 11,553,494
Notes Payable $ 6,019,450 Nil
Long Term Debt Nil Nil
Stockholders' Equity $ 760,193 $ 8,330,343

Results of operations for the three months ended September 30th

2013 2012
Net Loss $ 11,051,792 $ 5,607,295
Basic and Diluted Net Loss Per Share $ 0.14 $ 0.07
Net Cash Used in Operation Activities $ 7,491,530 $ 7,647,160
Net Cash Used in Investing Activities $ 18,233 $ 7,367
Net Cash Provided by Financing Activities $ 9,062,565 $ 186,083

Results of operations for the nine months ended September 30th

2013 2012
Net Loss $ 18,326,203 $ 21,834,440
Basic and Diluted Net Loss Per Share $ 0.24 $ 0.28
Net Cash Used in Operating Activities $ 14,266,759 $ 22,976,302
Net Cash Used in Investing Activities $ 36,084 $ 360,963
Net Cash Provided by Financing Activities $ 14,834,500 $ 476,999

To review Uranerz' quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2013, including its management discussion and analysis, please visit the Company's website at www.uranerz.com, or the U.S. Securities and Exchange Commission website at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.

About Uranerz

Uranerz Energy Corporation is a U.S.-based uranium company. The Nichols Ranch ISR Uranium Project is Uranerz' first ISR mine. ISR, or in-situ recovery, is a mining process that uses a leaching solution to extract uranium from sandstone uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. Uranerz controls a large strategic land position in the central Powder River Basin. The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.

Forward-looking Statements

This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.

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