Ur-Energy Increases Lost Creek Property M&I Resources by 45%

NEWS RELEASE.

April 4, 2012: Littleton, Colorado – Ur-Energy Inc. (Stock Profile – TSX:URE & AMEX:URG) reported an upgrade to the National Instrument (NI) 43-101 Mineral Resource estimate on the Lost Creek Property.  This resource update has been achieved by reviewing the Company’s historical drill-hole database related to property interests recently incorporated into the Lost Creek Property through acquisition and claim staking.  The resource estimate was completed as a part of an update to the Preliminary Economic Assessment now underway for the Lost Creek Property.

The updated compliant resource estimate of 8.35 Mlbs U3O8 in the Measured and Indicated categories represents a 45% increase from the previous estimate dated February 29, 2012.  Resources reported in the Inferred category have also been increased by 42% to an updated total of 2.87 Mlbs U3O8.  The new total resource for the Lost Creek Property is shown in the table below:

 Lost Creek Property Mineral Resources as of April 4, 2012

Category

Avg. Grade

% eU3O8

Tons x1,000

Pounds eU3O8

Millions

Measured

0.055

3,850

4.20

Indicated

0.053

3,965

4.15

Inferred

0.049

2,989

2.87

 

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