Burke Hollow is the third project to be developed as part of the Company's hub-and-spoke strategy that is designed for low-cost ISR mining operations.

International Atomic Energy Agency (“IAEA”) recently completed technical programs in Paraguay for the Paraguayan Vice Ministry of Mines and Energy in Asuncion designed to support the future exploration and development of uranium resources in the country.

Uranium Energy Corp (NYSE-AMEX: UEC) is pleased to announce that, effective May 11, 2011, the Company has entered into a Share Exchange Agreement with a Nevada company hereby the Company is acquiring a Paraguayan company which holds a 100% legal and beneficial interest in two unencumbered prospecting permits covering 247,000 acres located in the area of Coronel Oviedo, Paraguay, subject to a gross overriding royalty. The total purchase price for the Paraguayan company is the issuance of 225,000 restricted common shares in the capital of the Company. Image by Uranium Energy Corp.