Mr. Matt Gili reports

UR-ENERGY COMMENCES OPERATIONS AT ITS SHIRLEY BASIN ISR PROJECT, WYOMING, ADVANCING U.S. URANIUM PRODUCTION

Ur-Energy Inc. has started uranium mining operations at its Shirley Basin project in Wyoming.

Operations under way in a historic in situ district

Uranium-bearing solution is being captured from mine unit 1 at Shirley Basin after the successful completion of significant construction, wellfield installation and permitting. Uranium concentrations in recovered solutions are expected to increase over time as the company further conditions the wellfield and all production circuits are brought on-line. The company expects to transport uranium loaded resin to Lost Creek for processing this summer, subject to an additional regulatory inspection and approval.

Project highlights and scalability

The Shirley Basin project enhances Ur-Energy's operational flexibility through its integration with existing infrastructure:

• Capacity: licensed annual wellfield and toll processing capacity of up to 2.0 million pounds equivalent of triuranium octoxide;
• Resource base: measured and indicated mineral resources totalling approximately 9.1 million pounds U3O8 at an average grade of 0.22 per cent eU3O8;
• Mine life: anticipated mine life of approximately nine years across three shallow mining units;
• Operational synergy: uranium is captured on ion exchange resin and transported to the company's Lost Creek facility for final processing, drying and packaging.

This milestone marks the successful transition of the company's second in situ recovery mine from development to initial operations, and represents a significant expansion of Ur-Energy's U.S. uranium production capacity. Its Shirley Basin project is situated in the Shirley Basin district, widely recognized as the birthplace of ISR mining, is returning to active operations under Ur-Energy's stewardship. With new production anticipated from Shirley Basin, Ur-Energy is well positioned to contribute to growing global uranium demand amid a nuclear energy renaissance.

Matt Gili, chief executive officer and president, commented: "Launching initial operations marks a pivotal achievement in Ur-Energy's growth strategy and plan to expand U.S. uranium production capacity. Two years ago, we committed to building out this project. Today, we have successfully brought a historically significant uranium district back to life, demonstrating disciplined execution of our strategy. This accomplishment reflects the dedication and expertise of our teams, who have advanced Shirley Basin from development to operations. It is particularly meaningful as it supports the growing need for secure, domestic uranium supply and underscores our ability to move permitted projects toward production while strengthening our role in the U.S. nuclear fuel cycle."

Qualified persons

Benjamin J. Schiffer, PG, and Ray B. Moores, PE, of Western Water Consultants Inc., doing business as WWC Engineering, qualified persons as defined by Subpart 1300 of Regulation S-K, 17 CFR paragraph 229.1300 et seq., and Canadian National Instrument 43-101, have reviewed the technical disclosures in this press release, including the references to mineral resource estimates.

About Ur-Energy Inc.

Ur-Energy is a uranium mining company operating the Lost Creek ISR uranium facility in south-central Wyoming and the Shirley Basin ISR project in central Wyoming, which has produced nearly 3.5 million pounds of U3O8 since the commencement of operations. It initiated operations at Shirley Basin, the company's second ISR uranium project, in April, 2026. The combined total annual licensed production and toll processing capacity of Lost Creek and Shirley Basin is 4.2 million pounds U3O8.

Ur-Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. The primary trading market for Ur-Energy's common shares is on the NYSE American under the symbol URG. Ur-Energy's common shares also trade on the Toronto Stock Exchange under the symbol URE. Ur-Energy's corporate headquarters is in Casper, Wyo., and its registered office is in Ottawa, Ont.

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