Uranerz Installs New Monitor Wells at Jane Dough Project

CASPER, WYOMING -- (Marketwire) -- 09/14/10 -- Uranerz Energy Corporation ('Uranerz' or the 'Company') (TSX: URZ)(NYSE Amex: URZ)(FRANKFURT: U9E) is pleased to announce that environmental baseline activities associated with the Jane Dough ISR Uranium Project ('Jane Dough') are continuing with the installation of 26 baseline hydrologic monitor wells. The Jane Dough project is located in the central Powder River Basin of Wyoming and is directly south and adjacent to the Nichols Ranch ISR Uranium Project ('Nichols Ranch').

The Jane Dough project is planned to be an amendment to the adjacent Nichols Ranch project which is in the final permitting stage. The baseline information that will be collected from these 26 wells will be used in preparing the applications to obtain a Source and Byproduct Material License from the United States Nuclear Regulatory Commission ('NRC') and a Permit to Mine from the Wyoming Department of Environmental Quality ('WDEQ').

Activities to Date

Five monitor wells have been installed to date in one of the four required cluster sectors. These clusters are strategically placed throughout the Jane Dough resource area in order to yield the maximum hydrology and water quality information for the surficial, overlying, ore zone, and underlying aquifers. In addition to the installation of the monitor wells, the following baseline activities have been completed:

--  Cultural resource surveys;
--  Baseline soil and vegetation collection;
--  Collection of background radiological data including gamma, radon, and
    air particulates; and
--  Sage grouse surveys.

Future activities that will take place include:

--  Soil and sediment sampling for background gamma and other radiological
    components (Natural Uranium, Thorium-230, Radium-226, and Lead-210);
--  Baseline hydrological sampling to provide information on hydrology and
    water quality; and
--  Winter wildlife and raptor surveys.

Once all baseline data collection is complete, the information will be used to prepare the NRC and DEQ license and permit applications.

'The Nichols Ranch central processing plant is being licensed with excess capacity thus the planned production from the adjacent Jane Dough resource, to be processed at the Nichols Ranch plant, will augment our overall development plans in the district and lower the amortized cost of the central plant,' stated George Hartman, Uranerz Executive Chief Operating Officer.

About Uranerz

Uranerz Energy Corporation is a U.S.-based uranium company focused on achieving near-term commercial in-situ recovery ('ISR') uranium production in Wyoming, the largest producer of uranium of any U.S. State. The Uranerz management team has specialized expertise in the ISR uranium mining method, and has a record of licensing, constructing, and operating commercial ISR uranium projects. Two Uranerz projects are in the final permitting and licensing stage and the Company has already entered into long-term uranium sales contracts with two of the largest nuclear utilities in the U.S., including Exelon.

Uranerz Energy Corporation is listed on the NYSE Amex and the Toronto Stock Exchange under the symbol 'URZ', and listed on the Frankfurt Stock Exchange under the symbol 'U9E'.

Further Information

For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at info@uranerz.com. Alternatively please refer to the Company website www.uranerz.com, review Company's filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.

Forward-looking Statements

This press release may contain or refer to 'forward-looking information' and 'forward-looking statements' within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to anticipated progress or outcome of the Company's permitting applications including but not limited to its application to the NRC in respect of which the final EIS has been issued, and statements as to anticipated plant design and construction progress. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the 'SEC') (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.

Contacts:

Uranerz Energy Corporation

Derek Iwanaka

Manager of Investor Relations

604-689-1659 or 1-800-689-1659

604-689-1722 (FAX)
info@uranerz.com
www.uranerz.com