Calculated based on data accumulated from 526 drill holes, the resource update represents a 77% increase compared with the previous project inferred mineral estimate.
Uranium Energy president and CEO Amir Adnani said: "As the third of six projects in the South Texas region, we anticipate Burke Hollow can be easily integrated into our existing operations and provide significant synergies to our Palangana and Goliad Projects.
"An additional three projects are in the exploration phase, also surrounding our Hobson Processing Plant."
Earlier this year, the company has filed a Radioactive Material License and Mine Permit application with the Texas Commission on Environmental Quality and is also working on advancing production permitting for the project.
Uranium Energy resource development vice president Andy Kurrus said: "We are only 526 holes into this Project, and have already developed an impressive resource.
"We have identified three potential areas for additional drilling, each of which could add to the resource total."
Two additional potential areas have been identified within the project boundaries, including the Lower Goliad target and the Lower B target, which are said to host mineralized trends with strong grade to thickness products warranting additional drilling.
