DESCRIPTION OF BUSINESS

3 Months Ended

Mar. 31, 2014

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS

1. DESCRIPTION OF BUSINESS

Uranium Resources, Inc. (“URI”) is a uranium exploration, development and production company. We were organized in 1977 to acquire and develop uranium mines in South Texas using the in-situ recovery (“ISR”) process. URI has historically produced uranium by ISR methods in the State of Texas where the Company currently has ISR projects, including two licensed processing facilities. We also have mineral holdings in New Mexico and a NRC license to produce up to 3 million pounds per annum of uranium on certain of our New Mexico projects. The Company acquired these properties over the past 20 years along with an extensive information database of historic drill hole logs and analysis. None of URI’s properties are currently in production.