Ur‑Energy Inc. disclosed that its drilling program at the Lost Soldier and North Hadsell projects in Wyoming’s Great Divide Basin has produced a series of uranium intercepts that meet the company’s 0.20 GT cut‑off. The company completed 16 of a planned 50 holes at North Hadsell, drilling 16,765 feet and finding five holes with significant mineralization, including 11 intercepts exceeding 0.20 GT.
At Lost Soldier, the company has installed 18 aquifer test wells and is conducting technical studies that will begin testing in the first quarter of 2026. The program is designed to evaluate the hydrogeology of the site and to refine the resource estimate for a potential in‑situ recovery (ISR) operation.
The results reinforce Ur‑Energy’s strategy of expanding its ISR portfolio near the operational Lost Creek mine. ISR projects in the Great Divide Basin are known for lower capital and operating costs compared to conventional mining, and the proximity of Lost Soldier and North Hadsell to Lost Creek could enable shared infrastructure and reduced development timelines.
CEO Matthew Gili said the early success at North Hadsell, combined with the decision to advance technical studies at Lost Soldier, “underscores the momentum we are building across our Wyoming growth portfolio” and highlights the “meaningful potential for capital‑efficient resource expansion, strengthening Ur‑Energy’s long‑term development pipeline.”
The findings come at a time when U.S. demand for domestic uranium is rising after the 2024 ban on Russian imports. By adding recoverable resources in a low‑cost ISR setting, Ur‑Energy positions itself to meet the growing supply needs of U.S. nuclear power plants and to capture a larger share of the domestic market.
The drilling intercepts suggest a potentially large‑scale uranium system, with mineralization encountered 1.5 miles apart. If confirmed, this could translate into a significant increase in recoverable resources and a higher production capacity for the company’s ISR operations, supporting its broader growth thesis and reinforcing its competitive advantage in the U.S. uranium market.
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