Mr. Matt Gili reports

UR-ENERGY ANNOUNCES FIRST SHIPMENT OF URANIUM FROM SHIRLEY BASIN MINE, WYOMING

On Aug. 19, 2026, Ur-Energy Inc. made the first shipment of uranium from its Shirley basin mine to its Lost Creek processing plant in Wyoming.

Matt Gili, president and chief executive officer of Ur-Energy, stated: "This first shipment is not only the start of full operations at Shirley basin, it also marks Ur-Energy's transition to a multiasset, domestic U.S. uranium producer. It is important to note that Shirley basin moved from construction decision to production in just two and a half years. This is a clear demonstration of our team's ability to progress through permitting, construction and start-up in a highly effective manner. Crucially, this milestone also validates our capital-efficient, hub-and-spoke development model and further strengthens Ur-Energy's position as a leading U.S. uranium producer."

With licensed well field and toll processing capacity of up to 2.0 million pounds of U3O8 (triuranium octoxide) equivalent, Ur-Energy's Shirley basin mine is the company's second uranium in-situ recovery (ISR) operation in Wyoming. As previously announced, initial mining operations commenced at the mine in April, 2026. Final authorization to advance to full operations was received from the State of Wyoming Department of Environmental Quality in late June, 2026.

Shirley basin is being run as a satellite mine of the company's Lost Creek hub operation. Lost Creek, which is home to the largest operating ISR mine in the United States, has a proven and tested facility that has processed and shipped more than 3.5 million pounds of U3O8 to the conversion facility for delivery to the company's customers. This hub-and-spoke model is the basis of Ur-Energy's growth platform in Wyoming. It avoids duplicative infrastructure, improves capital efficiency and can be scaled at an accelerated pace.

Now that shipments from Shirley basin to Lost Creek have commenced, the company will execute on its strategy for ramp-up to full commercial levels, while continuing to advance its other organic growth opportunities in the district.

About Ur-Energy Inc.

Ur-Energy is the largest and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U3O8 since operations began, and the Shirley basin ISR operation in central Wyoming, where uranium recovery commenced in April, 2026. Lost Creek and Shirley basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of U3O8. The company is also engaged in exploration and development activities at a selection of projects in the Great Divide basin uranium district. Ur-Energy's common shares trade on the NYSE American under the symbol URG and on the Toronto Stock Exchange under the symbol URE. The company's corporate headquarters is in Casper, Wyo., and its registered office is in Ottawa, Ont.

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