Exhibit 21.1

SUBSIDIARIES OF URANIUM ENERGY CORP.

The following is a list of all the subsidiaries of the Company and the corresponding state or jurisdiction of incorporation or organization of each. All subsidiaries of the Company are directly or indirectly wholly-owned by the Company.

Name of Subsidiary	State or Jurisdiction of Incorporation or Organization
Cue Resources Ltd.	British Columbia, Canada
Piedra Rica Mining S.A.(1)	Paraguay
South Texas Mining Venture, L.L.P. (2)	Texas
Transandes Paraguay S.A.(3)	Paraguay
UEC Concentric Merge Corp.	Nevada
UEC Paraguay Corp.	Nevada
UEC Resources Ltd.	British Columbia, Canada
URN South Texas Project, Ltd.(4)	Texas
URN Texas GP, LLC	Texas
JDL Resources Inc.	Cayman Islands
Trier S.A.(5)	Paraguay
CIC Resources (Paraguay) Inc.	Cayman Islands
Paraguay Resource Inc. (6)	Cayman Islands
PDL Resources Inc. (6)	Cayman Islands
Paraguay Exploration Inc. (6)	Cayman Islands
Paraguay Minerals Inc. (6)	Cayman Islands
PEL Minerals Inc.(6)	Cayman Islands
Metalicos Y No Metalicos S.R.L. (7)	Paraguay

Rostock Industrias Mineras S.A. (8)	Paraguay
Exploradora Del Paraguay S.A. (9)	Paraguay
Exploranciones Almirante Grau S.A. (10)	Paraguay
Proyectos Mineros Parana S.A. (11)	Paraguay
Reno Creek Holdings Inc.	Canada
Reno Creek Resources Inc. (12)	Canada
AUC Holdings Inc. (13)	Nevada
AUC LLC (14)	Delaware

Notes:

(1)	Piedra Rica Mining S.A. is a wholly-owned subsidiary of UEC Paraguay Corp.
(2)	URN South Texas Project, Ltd. holds a 99% interest in South Texas Mining Venture, L.L.P., with the remaining 1% interest held by URN Texas GP, LLC.
(3)	Transandes Paraguay S.A. is a wholly-owned subsidiary of Cue Resources Ltd.
(4)	The Company directly holds a 99% interest in URN South Texas Project, Ltd., with the remaining 1% interest held by URN Texas GP, LLC.
(5)	Trier S.A. is a wholly-owned subsidiary of JDL Resources Inc.
(6)	This company is a wholly-owned subsidiary of CIC Resources (Paraguay) Inc.
(7)	This company is 90% owned by Paraguay Resources Inc. and 10% owned by CIC Resources (Paraguay) Inc.
(8)	This company is 99% owned by PDL Resources Inc. and 1% owned by CIC Resources (Paraguay) Inc.
(9)	This company is 99% owned by Paraguay Exploration Inc. and 1% owned by CIC Resources (Paraguay) Inc.
(10)	This company is 99% owned by Paraguay Minerals Inc. and 1% owned by CIC Resources (Paraguay) Inc.
(11)	This company is 99% owned by PEL Minerals Inc. and 1% owned by CIC Resources (Paraguay) Inc.
(12)	This company is a wholly-owned subsidiary of Reno Creek Holdings Inc.
(13)	This company is a wholly-owned subsidiary of Reno Creek Resources Inc.
(14)	This limited liability company is a wholly-owned subsidiary of AUC Holdings Inc.