Uranium Exploration in Tanzania

Corporate Update PresentationDecember 2013

Uranium Resources PLC

Uranium Resources PLC

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Disclaimer

Statements in this document, to the extent not based on historical events, constituteforward-looking statements. Forward-looking statements include, without limitation,statements evaluating market and general economic conditions in the precedingsections, and statements regarding future-oriented costs and expenditures. Investors arecautioned not to place undue reliance on these forward-looking statements, which reflectmanagement’s analysis only as of the date thereof. These forward-looking statements aresubject to certain risks and uncertainties that could cause actual results to differ materially.Such risks and uncertainties with respect to the company include the effects of generaleconomic conditions, changing foreign exchange rates and actions by governmentauthorities, uncertainties associated with legal proceedings and negotiations, industrysupply levels, competitive pricing pressures and misjudgements in the course of preparing

forward-looking statements.

Uranium Resources PLCOverview

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• Developing Mtonya, a virgin uranium discovery in southern Tanzania – a sandstone-hosted deposit, amenable to in-situ recovery, the most cost effective andenvironmentally acceptable method of uranium extraction

• Maiden inferred resource for Mtonya established in Q2 2013: 3.6 million tonnesgrading 255 ppm U3O8 containing 2.0 Mlb U3O8

• Significant potential to multiply the Mtonya resource along strike and at depth

• Mtonya, with its arkose sandstone and stacked roll-fronts, is viewed as a low-carbonate analogue to Wyoming’s Powder River Basin deposits

• Project pipeline – selecting targets in rift basins including other jurisdictions to takeadvantage of in-house methodology and expertise

• Strong institutional backing – Estes Limited hold 56.0%, Geiger Counter hold 5.5%

• Competent management and field team

Uranium Resources PLC

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Management Team

Alex GostevskikhManaging Director

Alex (MSc MBA) is a geologist with 28 years of experience in mineral exploration, development through production and provensuccess record across a range of commodities and jurisdictions. Previously a Regional Exploration Manager for Centerra Gold,he has held positions with senior and junior mining companies including Exploration Manager for Gulf International Minerals andSenior Geologist for Kinross Gold.

Ross WarnerDirector

Ross (LLB, LLM) is an experienced director of AIM and ASX-listed resources companies. He trained as a lawyer and worked inthe corporate finance departments of law firms including Mallesons Stephen Jaques in Australia and Clifford Chance in the UK.

Viacheslav MedvedevNon-Executive Director

Slava has over 10 years of corporate experience with a number of Russian-focussed companies advising on matters of finance,accounting and business development. A geologist with many years’ experience in Kyrgyzstan and Russia, Mr. Medvedev isalso a Director of Estes Limited, a cornerstone shareholder of Uranium Resources. Estes Limited is part of the Tangent FundGroup.

Dimitri PashovNon-Executive Director

Dimitri, a qualified English solicitor and Russian lawyer, has worked for various international law firms, banks and companiessince 1994. Having worked as General Counsel for the Bank of Tokyo-Mitsubishi UFJ Ltd, London and Head of CorporateFinance Legal at Rusal, Moscow, he is currently General Counsel at Eastlink Lanker plc.

James PrattNon-Executive Director

James (BSc (Hons), Grad Dip Fin. Investment), a geologist with over 20 years experience in mining and exploration in Australia,Africa and Central Asia, has been a director of a number of listed companies both in the UK and in Australia. Between 1998through 2001, Mr Pratt was Chief Mine Geologist for the +1 Moz Golden Pride mine in the Lake Victoria goldfields. James hasbeen instrumental in building the Company's presence and portfolio of licenses in Tanzania.

Andrew M. LewisNon-Executive Director

Andrew (BSc MBA ARSM) has over 28 years of corporate experience. Most recently, he was the General Manager of Kinross’Tasiast mine, the General Director of the Nui Phao JV in Vietnam, and President of Kumtor Operating Company in the KyrgyzRepublic, a subsidiary of Centerra Gold Inc, where he was responsible for corporate management, operations and development.

Uranium Resources PLCCorporate Snapshot

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Ticker URA.L

Market cap £10.8 m

Share price 0.95 p

12-month trading range 2.85 – 0.68 p

Issue share capital 745,493,750

Options 60,000,000

Fully diluted 805,493,750

Major Shareholders

Estes Limited 56.0%

Geiger Counter 5.5%

Hugh Warner 3.6%

Bruce Rowan 3.3%

Sunvest Corporation 2.6%

Management 1.5%

Uranium Resources PLCUranium Market

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• Reasonably assured resources recoverable at costsbelow US$50 per pound U3O8 fell by 35% between 2009and 2011 (IAEA, Red Book 2012)

• Less than 45% of world’s identified resources are thoughteconomic at <$36/lb (IAEA, Red Book 2012), and thatincludes Inferred Resources (only a fraction of theseresources will become reserves)

• Permitting of new mines in many jurisdictions is lengthyand difficult

• For many projects, having a resource is not a straightpath to production

• Uranium projects face increasing opposition from nativegroups and NGOs

• Increasing competition for overseas uranium resourcesfrom the less-endowed countries with generating capacity,e.g. France, India, China, Russia

The demand for nuclear fuel to grow while access to quality resources shrinks Number of reactors currently under construction and number planned, by country:

Under construction (62) Planned (167)*

China 26 51

Russia 10 24

India 7 18

South Korea 4 5

Canada 2

Japan 3 10

Slovakia 2

Argentina 1 1

Brazil 1

Finland 1

France 1 1

Iran 2

Pakistan 2

UAE 1 3

USA 1 13

* Approvals, funding or major commitment in place, mostly expected in operation within 8-10 years. Note: As of November 1, 2012. Source: World Nuclear Association

Uranium Resources PLC

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Tanzania

Uranium deposits in the region (global resource, Mlb):

• Kayelekera 25,110 @ 1,088 ppm

• Nyota 119,400 @ 297 ppm

• Dibwe 20,925 @ 267 ppm

• Bahi Lake 14,758 @ 218 ppm

Kayelekera (PDN)

Nyota (UUU)Mtonya

(URA)

Dibwe (DML)

Bahi Lk (UNX)

• Stable multi-party democracy• Internationally accepted mining

code• Government and communities

support uranium development• Favourable geology• Availability of regional geological

and geophysical data

• The Company has tenements in the Luwegu and Ruhuhu basins

Uranium Resources PLCLuwegu Basin, Tanzania

• Mtonya occurs on the southwestern margin of the Karoo Luwegu Basin, 60 km south of Uranium One’s 119Mlb Mkuju River Project (Nyota deposit)

• This vastly underexplored basin is one of the East-African Karoo basins that developed in pre-Gondwana times and reactivated in the Cenozoic.

• The architecture of the basin was studied by oil companies, with seismic lines (1,168 km) across the basin and several deep wells north of Mtonya. The basin is interpreted to be a failed intracratonic rift with defining listric faults on its western margin and a monoclinal eastern side.

• The basin is filled with fluvio-lacustrine sediments deposited in braided and meandering regimes. Medium-grain arkosic sandstones dominate among the basin lithologies

• The basin fill manifests numerous radiometric anomalies. Airborne geophysics and satellite images indicate a prominent structural corridor trending through the Mtonya tenements

• Favorable regional geology makes Mtonya a strong candidate for numerous roll-front mineralization targets

World-class Uranium Target at Mtonya

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Uranium Resources PLCSedimentary Basins, Tanzania

• Both Luwegu and Ruhuhu basins are typicalMesozoic rifts filled with uranum-rich erosionproducts of Neoproterozoic gneiss andgranite

• Both Luwegu (150 by 350 km) and Ruhuhu(60 by 200 km) basins appear to be prospective for sandstone-hosted uranium deposits in their entirety

• Uranium One’s Mkuju River Project is thought to be a partially eroded fragment of a re-mobilized roll-front that had been upthrown by the regional Mkuju River Fault

• The Mkuju River Project has a global resource of 119.4 Mlb U3O8 grading 0.025% U3O8. Uranium One is currently reviewing the potential of using in-situ recovery on deeper sections of the deposit

Architecture of the Luwegu Basin, Tanzania

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The northern section of the Luwegu Basin (after Catuneanu, 2005)

Uranium Resources PLCPredictive Discovery at Mtonya

After completing the scout-drilling programs in 2010-2011, the Company developed a methodology to generate continuously updated redox interface models, which were used for drill targeting in its 2012 exploration campaign

Based on past and ongoing drilling, the model generated redox interface with required resolution, down to 2 m thick.

This methodology allowed the Company to intercept mineralized roll-fronts in 75% of resource-definition drillholes

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Mtonya diamond drilling and examples of computer-generated “predicted” redox interface

Uranium Resources PLCUpside in Drilling, Mtonya

• In 2010-2011, a small area 3 km by 3 km was scout-drilled

• Potential remains open in all directions, on several tiers

Holes drilled at Inkai: 4,898Holes drilled at Akbastau: 699 (~384 km) Holes drilled at Nyota: 1,740 (>107 km)Holes drilled at Mtonya: 159 (<39 km)

Drill spacing at Inkai: 25-50 mDrill spacing at Akbastau: 50x200 mDrill spacing at Nyota: 5-25 mDrill spacing at Mtonya: 50x250 m

Average depth at Inkai: 240 mAverage depth at Akbastau: 450 mAverage depth at Nyota: 63 mAverage depth at Smith Ranch: 200 mAverage depth at Mtonya: 300 m

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Mtonya and Inkai deposits to Scale

Only a small fraction of the Luwegu basin has been subjected to systematic exploration – most of it follow-up on Uranerz’s 1980s reconnaissance program

Uranium Resources PLCMtonya Redox

• 3 Redox Tiers have been identified at Mtonya. By analogy with Kazakh deposits, Tiers 1-3 could roughly correspond to Zhalpak, Inkuduk and Mynkuduk horizons, respectively

• Each tier is around 150m thick

• Current resource comprises mostly Tier 1 mineralization

• Tier 1 has been the main drill target and Tier 2 has been a secondary drill target

• Roll-fronts in Tiers 1 and 2 can be traced over the 2 by 4 km area

• Tier 3 has only been inferred from the 2010 scout-drilling

• More redox tiers may be discovered at depth

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Uranium Resources PLCMtonya Redox

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• Remarkable continuity of roll-fronts

• Widespread and consistent development of oxidation

• Permeable lithologies: medium-size and coarse arkosic sandstone with less than 5% of carbonate minerals

• Favorable mineralogy: uraninite and coffinite

• Tiers 1 and 2 likely represent a single aquifer

Uranium Resources PLCMtonya Mineralization

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• Uranium mineralization is represented by uraninite and coffinite on the edge of the redox interface and in the weak limonite-oxidized sandstone

• Near-surface mineralization is represented primarily by metauranocircite and metaautinite, similarly to Nyota

• Individual assays up to 3,000 ppm U3O8

• Intercepts up to 7 m thick

• For the Mkuju Formation sands below the water table at its Nyota deposit, Uranium One recently reported very encouraging results:

• Hydraulic conductivity: 1.8-5.1 m/day• Transmissivity: 18.7-34.3 m2/day• Carbonate mineralization (CO2): 0.7%• Recovery: 1.2-18 kg/m2

• Borehole yield: 0.1 l/sec• Native water mineralization: <1.0 g/dm3

DDH URAMT_081, 145.3 m, 992 ppm U3O8 over 1 m

Uranium Resources PLCDrilling at Mtonya

• In 2007-2008, 265 RC holes (16,271 m) were drilled at Mtonya to test surface anomalies. Average depth of drilling was 60 m

• In 2010-2012, 159 core holes (38,591 m) were drilled on a 50x250 m grid

• Average depth of holes was 280 m with several stratigraphy holes up to 500 m deep

• Drill targeting was based on geochemical and redox interface models

• Drilling targeted primarily Tier 1 mineralization and Tier 2 mineralization as a secondary target

• Over 75% of resource definition holes intercepted mineralization

• Holes were sampled and assayed in their entirety for a suite of elements

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Uranium Resources PLC2010-2013 Milestones

• January 2010: Control of its Tanzanian exploration assets resumed

• April 2010: Proprietary exploration model for the Luwegu Basin developed

• June 2010: Scout-drilling programme at Mtonya initiated

• October 2010: 11-hole (4,170m) drilling programme confirmed the Company’sgeological model – holes intercepted the predicted sedimentary sequences anddemonstrated extensive redox processes

• December 2011: Completed 7,936m of wide-spaced diamond drilling (27 holes) –assays confirmed continuous stacked roll-fronts yielding low-grade uraniummineralisation in holes 14, 23, 35, 46, and 54 along a 7,600m strike

• December 2012: Completed 26,485 m (120 diamond drillholes) of resource definitiondrilling

• April 2013: Mtonya maiden inferred resource released: 2.014 Mlb U3O8 at 257 ppmU3O8

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Uranium Resources PLCMtonya Resource

Summary of Inferred Mineral ResourcesMarch 1, 2013

Uranium Resources plc – Mtonya Project

Notes: 1) 50 ppm U3O8 cutoff grade2) Top-cut to 1,500 ppm U3O8

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Depth Tonnage(Mt)

Grade (ppmU3O8)

ContainedMetal (Mlb

U3O8)

To 60 m depth

0.7 257 0.371

Below 60 m depth

2.9 254 1.643

TOTAL 3.6 255 2.014

Uranium Resources PLCUpside Potential at Mtonya

• Significant upside potential may exist at depth –in Tiers 2 and Tier 3. Similarly to Kazakh deposits, which have mineralization, at >800 m depths, more roll-fronts may be present below Tier 3

• At Mtonya, only 1/6 of prospective lithologies has been systematically drilled on a coarse grid

• Significant upside potential exists along the Mtonya “redox corridor”, including the areas with surface anomalies at Nyoka and Lukimwa

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Uranium Resources PLCLukimwa

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Lukimwa is located 28 km SW of Mtonya. It features a contrast radiometric anomaly in the favourable Karoo sandstone.

Its structural settings as well as radiometric and magnetic signatures bear many similarities with Mtonya. Importantly, it is situated at the SW end of the same structural corridor.

The results of 2011-2012 field reconnaissance, surface radiometrics, and geochemical sampling have been encouraging and the Company is planning drilling 5 holes (1750m, 350m each) to identify conditions similar to Mtonya.

Uranium Resources PLCRuhuhu Basin

• The Ruhuhu Basin is located in west-central Tanzania. Similar in age, geometry, and structure to the Luwegu Basin, it is smaller in size.

• The basin has numerous pronounced radiometric anomalies reviewed and visited by URA in prior years, such as the Pedro prospect.

• The Company retains two exploration licenses totaling approximately 27,920 hectares

• The lihostratigraphy of the Ruhuhu Basin has many similarities to that of the North Rukuru Basin, which hosts Paladin’s Kayelekera uranium deposit

• The Company is currently compiling data for the license area and plans a limited reconnaissance program to generate exploration targets

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Ruhuhu Basin Licenses on radiometrics

Uranium Resources PLC2014 Work Program

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecRegional data acquisition and interp

Mtonya: design, budget drill program

Mtonya: drilling contract, suppliers

Mtonya: deploy camp, mobilize rigs

Mtonya: execute drill programme

Lukimwa: drill program

Lukimwa: execute drill program

Ruhuhu: field reconnaissance

Ruhuhu: field-test targets, elsewhere

Mtonya: interpret results

Mtonya: resource upgrade

- Preparatory and generative work - Working in the field - Completed

2014

Uranium Resources PLCGrowth Strategy

• Advance uranium projects in Tanzania to define a world-class target

• Upgrade the Mtonya resource by testing the lateral extents and deeper roll-fronts. Subject to funding availability, the scouting and resource-definitionprogram calls for 25,000 m of RC drilling and 5,000 m of diamond drilling

• Conduct testwork to measure rock permeabilities and recoveries

• Use the same comprehensive approach, re-evaluate the potential and generateexploration targets of merit on other land holdings in Tanzania, such as theRuhuhu Basin

• Apply the Mtonya model to other basins in Africa and identify the bestopportunities

• Take advantage of the in-house exploration expertise and opportunistically pursueuranium projects that present the best cost/value ratio and can be successfullydeveloped in a stagnant uranium market

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Uranium Resources PLC

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Contacts

Alex GostevskikhManaging Director

Canadian Mobile: +1 778 938 7631Email: alex.gost@uraniumresources.co.uk

Ross WarnerDirector

UK Mobile: +44 776 048 7769 Email: rosswarner@uraniumresources.co.uk

Uranium Resources PlcOne America Square, Crosswall, London EC3N 2SG

Websitewww.uraniumresources.co.uk