Urenergy Inc (URG) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Exhibit 99.1

Ur-Energy Provides 2018 Q3 Operational Results

Littleton, Colorado (PR Newswire – October 15, 2018)

Highlights

Lost Creek Uranium Production and Sales

For the quarter, the Company met its production targets at the high end of guidance: 80,604 pounds of U₃O₈ were captured within the Lost Creek plant, 78,441 pounds of U₃O₈ were packaged in drums and 72,902 pounds of U₃O₈ drummed inventory were shipped out of the Lost Creek processing plant. At September 30, 2018, inventory at the conversion facility was approximately 308,762 pounds U₃O₈. During the period, all three of the new header houses in Lost Creek’s second mine unit (MU2) continued to produce at or above budgeted expectations. Production operations at Lost Creek, including flow and headgrades, have continued to provide consistent performance throughout the year.

Corporate and Financing

In September, the Company announced a US$10 million public offering of common shares. The 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 US$0.82 per common share and accompanying warrant, closed on September 25, 2018.

In July, the U.S. Department of Commerce (Department) initiated its investigation into the threat posed to national security by uranium imports, including from state owned and subsidized enterprises in Russia, Kazakhstan, and Uzbekistan. This investigation was sought by a petition filed jointly by Ur-Energy USA and Energy Fuels Resources (USA) Inc. in January 2018. A public comment period related to the investigation closed on September 25, 2018. By law, the Department has 270 days from the initiation of its investigation (April 15, 2019) in which to complete its investigation and report to the President. Thereafter, President Trump has 90 days (July 15, 2019) to act on the Department’s recommendations and, if necessary, to take action to “adjust the imports” and/or pursue other lawful, non-trade related actions necessary to address the import threat. As with any governmental investigation, there can be no certainty of the outcome of the investigation or the recommendation of the Department, and therefore the outcome of this process is uncertain.

Continuing Guidance for 2018

As previously disclosed, we have now completed all deliveries into our 2018 term contracts, which totaled 470,000 pounds at an average price of approximately $49 per pound. We continue to estimate Lost Creek U₃O₈ production of between 250,000 and 300,000 pounds for 2018, although our production rate may be adjusted based on operational matters and other indicators in the market. We will provide further guidance in our Form 10-Q, which is currently anticipated to be filed on Friday, October 26, 2018.