1162324--3/12/2009--URANERZ_ENERGY

related topics

{gas, price, oil}

{cost, contract, operation}

{stock, price, share}

{personnel, key, retain}

{control, financial, internal}

{capital, credit, financial}

{interest, director, officer}

{competitive, industry, competition}

{cost, regulation, environmental}

{regulation, change, law}

Risks Related to Our Business Our future performance is difficult to evaluate because we have a limited operating history. Because the probability of an individual prospect ever having reserves is remote, our properties may not contain any reserves, and any funds spent on exploration may be lost. We have a limited operating history and have losses which we expect to continue into the future. As a result, we may have to suspend or cease exploration activities. Because some of our officers and directors do not have technical training or experience in exploring for, starting, and operating a mine, we may have to hire qualified personnel. If we can t locate qualified personnel, we may have to suspend or cease exploration activity which may result in the loss of your investment. We have no known reserves. Without reserves we may not be able to generate income and if we cannot generate income we will have to cease exploration activities which result in the loss your investment. Our future profitability will be dependent on uranium prices Our operations are subject to environmental regulation and environmental risks. We intend to extract uranium from our properties using the in-situ recovery mining process which may not be successful. We face risks related to exploration and development, if warranted, on our properties. Because we may be unable to meet property payment obligations or be able to acquire necessary mining licenses, we may lose interests in our exploration properties. Because mineral exploration and development activities are inherently risky, we may be exposed to environmental liabilities. If such an event were to occur it may result in a loss of your investment. Because we have not put a mineral deposit into production before, we may have to acquire outside expertise. If we are unable to acquire such expertise we may be unable to put our properties into production and you may lose your investment. The mining industry is highly competitive. Risks Related to Corporate and Financial Structure We are dependent upon key management employees. Our growth will require new personnel, which we will be required to recruit, hire, train and retain New legislation, including the Sarbanes-Oxley Act of 2002, may make it difficult for us to retain or attract officers and directors. Stock market price and volume volatility Dilution through the granting of options You may lose your entire investment in our shares. In the event that your investment in our shares is for the purpose of deriving dividend income or in expectation of an increase in market price of our shares from the declaration and payment of dividends, your investment may be compromised because we do not intend to pay dividends in the foreseeable future. We depend on our ability to successfully access the capital and financial markets. Any inability to access the capital or financial markets may limit our ability to execute our business plan or pursue investments that we may rely on for future growth. Recent market events and conditions, including disruptions in the U.S. and international credit markets and other financial systems and the deterioration of the U.S. and global economic conditions, could, among other things, impede access to capital or increase the cost of capital, which would have an adverse effect on our ability to fund our working capital and other capital requirements.

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1162324--3/12/2009--URANERZ_ENERGY_CORP.