Mr. Matt Gili reports

UR-ENERGY ANNOUNCES 120-HOLE DRILL PROGRAM TO UNLOCK GROWTH POTENTIAL AT LOST CREEK SOUTH, WYOMING

A 120-hole (approximately 84,000-foot) exploration drill program has commenced at Ur-Energy Inc.'s Lost Creek South project in Wyoming, United States. Lost Creek South is part of the larger Lost Creek property -- a 55-square-mile land package that hosts the company's flagship mine and processing hub. The drill program will test a series of high-priority areas along seven miles of composite trend for possible near mine expansion as well as regional targets with strong potential for hosting a new resource.

News highlights

• Aggressive exploration at flagship project: One hundred twenty holes (approximately 84,000 feet) testing near mine expansion and regional exploration targets along three primary trends and deeper, less defined trends.
• Multiple rigs testing at depth: Up to three rigs will be running simultaneously throughout the program. Holes will be drilled between 500 and 800 feet, but occasionally up to 1,000 ft.
• Large, underexplored land package: The Lost Creek property comprises 55 square miles of which the current mine resource occupies less than 10 per cent. The Lost Creek South project is immediately adjacent to the mine resource area and contains approximately 16 square miles of the overall land package.
• Historic data points to wide-scale prospectivity: Drill targeting for the new program is based on data from approximately 520 historic holes at Lost Creek South, many of which were at shallow depths.
• Accelerating organic growth pipeline: The Lost Creek South drill program is part of Ur-Energy's multiasset growth strategy. Of note, the company is in the advanced stages of preparing a technical report for its Lost Soldier project with an expected construction decision to follow, as well as planning for additional exploration drilling at North Hadsell to follow up the highly successful maiden drill program earlier this year.

Matt Gili, president and chief executive officer of Ur-Energy, commented: "With ramp-up proceeding at the Lost Creek mine, Shirley basin mine and the Lost Creek processing hub, we are now accelerating our growth strategy across multiple assets within Wyoming's reemerging uranium district. At Lost Creek, this means systematic drill testing of the richly mineralized trends across our properties.

"It is important to understand the potential and prospectivity we have at Lost Creek. Ur-Energy is producing on a small fraction of the 55-square-mile land package. We have an extensive database of recent and historic holes indicating three large, defined mineral trends running north, west and south, along other trends that merit follow-up. This 120-hole program to the south of our mine is really the starting pistol for our goals of expanding the existing Lost Creek mine resource and making discoveries along trend at this remarkable project."

Ur-Energy's multiasset growth strategy is focused across five projects in Wyoming within a greater combined land package of approximately 75 square miles. Top priorities currently include Lost Creek, Shirley basin, Lost Soldier and North Hadsell.

About Ur-Energy Inc.

Ur-Energy is the largest- and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium mine and processing hub in south-central Wyoming, and the Shirley basin ISR mine in central Wyoming, where full operations were launched in August, 2026. The company is also engaged in exploration and development activities at a selection of projects in the Great Divide basin uranium district. Ur-Energy's common shares trade on the NYSE American under the symbol URG and on the Toronto Stock Exchange under the symbol URE. The company's corporate headquarters is in Casper, Wyo., and its registered office is in Ottawa, Ont.

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