DESCRIPTION OF THE COMPANY

12 Months Ended

Dec. 31, 2012

DESCRIPTION OF THE COMPANY

DESCRIPTION OF THE COMPANY

1. DESCRIPTION OF THE COMPANY

        Uranium Resources Inc. ("URI") was formed in 1977 and domesticated in Delaware in 1987. The Company explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas where the Company currently has ISR mining projects, including two licensed processing facilities. URI also has 206,600 acres of uranium mineral holdings with 144.8 million pounds of in-place mineralized uranium material in New Mexico and NRC license to produce up to 3 million pounds of uranium per year on certain of its New Mexico projects. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI's properties is currently in production.

        URI's strategy is to advance its projects in New Mexico to production and to return to production in Texas, including potentially expanding its asset base both within and outside of New Mexico and Texas and partner with larger mining companies that have undeveloped uranium or with junior mining companies that do not have the mining experience of URI.

        Historically, the primary customers of the Company have been major utilities who utilize nuclear power to generate electricity. At present the Company owns both developed and undeveloped uranium properties in South Texas and undeveloped uranium properties in New Mexico.