Once finalized, the UIC Permit will authorize Ur-Energy to drill, complete and operate up to five Class I non-hazardous waste disposal wells at the Lost Creek site. The process which leads to the final issuance of the UIC Permit is expected to be completed in the second quarter of 2010.

The issuance of the UIC Permit is a significant step towards obtaining the full set of required licenses and permits for a uranium ISR project. The UIC Permit as drafted by the WDEQ authorizes a sufficient number of wells and capacity to meet the anticipated disposal requirements for the life of the Lost Creek ISR project.

The State of Wyoming has been granted primacy by the Environmental Protection Agency (EPA) in the implementation of the provisions of the Safe Drinking Water Act.

Under the provisions of the primacy agreement, the Lost Creek UIC Permit does not require final approval by the EPA. Further, the Lost Creek Class I UIC application demonstrates that the natural water quality within the proposed receiving aquifer along with the underlying aquifers do not meet drinking water standards and consequently the proposed injection activity does not require an EPA issued aquifer exemption.

On April 5, 2010, the US Nuclear Regulatory Agency (NRC) granted an exemption request to authorize certain construction activities at the Lost Creek ISR site in advance of the pending Source Material and Byproduct License decision.

Under NRC regulations, commencement of construction (with some limited exceptions) prior to license issuance is not permitted unless an exemption is granted. The authorization from the NRC gives Ur-Energy the flexibility to proceed with the preparation and construction of site infrastructure and support facilities prior to the issuance of the primary NRC license needed for construction and operation of an ISR facility.

The NRC has prepared an Environmental Assessment (EA) in support of the exemption being granted. On the basis of the EA, the NRC found that there are no significant environmental impacts from the proposed actions. The company is coordinating with other regulatory agencies to obtain additional approvals necessary to commence construction.