Mr. Mark Kolebaba reports

URZ3 ENERGY WELCOMES MR. PAUL GORANSON TO THE BOARD OF DIRECTORS AND ANNOUNCES PRIVATE PLACEMENT

William (Paul) Goranson, PE, has joined URZ3 Energy Corp. as a member of the board of directors. Additionally, the company announces a non-brokered placement of up to $1.1-million.

"We are excited to welcome Paul to URZ3 Energy both personally and professionally. The majority of our team have known Mr. Goranson for decades and worked with him in the past. From an industry standpoint, his knowledge of the uranium sector is invaluable, including his direct practical experience in all parts of the business, from exploration to production, in the United States," commented Todd Hilditch, chairman of the board.

About Mr. Goranson

Mr. Goranson has over 37 years of mining, processing, marketing and regulatory experience in the uranium extraction industry that includes both conventional and in situ recovery (ISR) mining.

Most recently, Mr. Goranson was the chief executive officer and director of EnCore Energy Corp. He is an experienced executive with an impressive history in the uranium extraction industry, including building, renovating and operating a number of ISR facilities in the United States.

Prior to EnCore Energy, Mr. Goranson was the chief operating officer for Energy Fuels Resources (USA) Inc. (parent company: Energy Fuels Inc.), where he was responsible for the operations of the company's conventional and in situ recovery uranium projects. Mr. Goranson served as president, chief operating officer and director for Uranerz Energy Corp., where he was responsible for commissioning, operating and expanding the Nichols Ranch ISR uranium project.

Mr. Goranson was president of Cameco Resources, the company that operated Cameco Inc.'s U.S. ISR operations. Also, Mr. Goranson was vice-president of Mestena Uranium LLC, where he led the construction, start-up and operation of the Alta Mesa project, which achieved over one million pounds of uranium production per year. His responsibilities included marketing uranium and negotiating long-term uranium supply contracts and spot uranium sales with nuclear utilities.

In addition to his experience with conventional and ISR uranium production, Mr. Goranson has extensive experience in uranium markets, federal and state regulatory affairs, and government policy. Mr. Goranson has served as the president of the Uranium Producers of America and as the president of the Wyoming Mining Association. He has served in leadership positions within the National Mining Association, the Texas Mining and Reclamation Association, and the Nuclear Energy Institute. He currently serves on the board of Brush Country Groundwater Conservation District, located in southern Texas. Mr. Goranson is a registered professional engineer in the state of Texas, and he holds a master of science in environmental engineering and a bachelor of science in natural gas engineering from Texas A&M University -- Kingsville and Texas A&I University, respectively.

Private placement

URZ3 Energy announces a non-brokered private placement offering of up to 10 million units at a price of 11 cents per unit for total gross proceeds of up to $1.1-million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder thereof to acquire an additional common share at an exercise price of 20 cents for 36 months after the date of issuance. If, after four months plus one day from the closing date, the closing price (or closing bid price on days when there are no trades) of URZ3's common shares is greater than 40 cents per share for 10 consecutive trading days or more, URZ3 may accelerate the expiry date of the warrants to the 30th day after the date on which URZ3 gives notice to the warrantholders of such acceleration, with such notice being the issuance of a news release by the company announcing the acceleration of the expiry date.

Proceeds from the offering will be used for general working capital purposes.

The offering is subject to the receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued at closing of the offering will be subject to a four-month-plus-one-day hold period from the date of issue as well as to any other resale restrictions imposed by applicable securities regulatory authorities. Subject to approval by the TSX-V and applicable securities legislation, URZ3 may pay finders' fees with respect to certain subscriptions from arm's-length subscribers, in accordance with the TSX-V policies.

Corporate

The URZ3 board of directors will now include Mr. Goranson, Sandra MacKay, John Larson, Darcy Higgs and Mr. Hilditch. Mr. Hilditch has been appointed as executive chairman of the board of directors, effective immediately. The company also announces that, pursuant to its stock option plan and subject to regulatory acceptance, it has granted an aggregate total of 750,000 incentive stock options to certain directors, officers and consultants of the company, subject to certain vesting provisions. These options will be exercisable at a price of 11.5 cents per common share and will expire on May 6, 2030.

The appointment of Mr. Goranson to the board of directors and the stock option grant are subject to the receipt of all necessary regulatory filings and TSX-V approvals.

About URZ3 Energy Corp.

URZ3 Energy is a resource development company focused on the acquisition and exploration of uranium properties in North America. The company is dedicated to advancing its portfolio of projects to meet the growing demand for uranium as a clean energy resource, leveraging its team's extensive experience in ISR uranium exploration, development and production.

We seek Safe Harbor.