Mr. Jeffrey Klenda reports

UR-ENERGY INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON SHARES AND WARRANTS

Ur-Energy Inc. has priced its underwritten public offering of 12,195,122 common shares and accompanying warrants to purchase up to 6,097,561 common shares at a combined public offering price of 82 cents per common share and accompanying warrant. Each whole warrant will have an exercise price of $1 and will expire three years from the date of issuance.

Ur-Energy has also granted the underwriters a 30-day option to purchase up to 1,829,268 additional common shares as well as warrants to purchase up to an aggregate of 914,634 common shares on the same terms. The gross proceeds to Ur-Energy from this offering are expected to be $10-million before deducting the underwriting discounts and commissions as well as other estimated offering expenses payable by Ur-Energy, and assuming no exercise of the underwriters' option to purchase additional shares or warrants. The offering is expected to close on or about Sept. 25, 2018, subject to satisfaction of customary closing conditions. All of the securities in the offering are to be sold by Ur-Energy.

Cantor Fitzgerald & Co. is acting as the sole bookrunning manager for the offering. H.C. Wainwright & Co. LLC is acting as lead manager for the offering.

Ur-Energy anticipates using the net proceeds from the offering to maintain and enhance operational readiness. Additionally, proceeds may be used for working capital and general corporate purposes. The securities described above are being offered by the company pursuant to a shelf registration statement on Form S-3 previously filed with, and declared effective by, the Securities and Exchange Commission on Aug. 3, 2017. A preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered will be filed with the SEC on Sept. 20, 2018, and will be available on the SEC's website. Copies of the final prospectus supplement (when available) and accompanying prospectus may be obtained from Cantor Fitzgerald, attention: Capital Markets, 499 Park Ave., sixth floor, New York, N.Y., 10022, or by telephone at 212-829-7122, or by e-mail at prospectus@cantor.com.

About Ur-Energy Inc.

Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south-central Wyoming. The company has produced, packaged and shipped more than 2.4 million pounds triuranium octoxide from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate its LC East project area into the Lost Creek permits, and it is advancing applications for permits and licences to operate at its Shirley basin project.

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