Exhibit 99.1

           Uranium Resources, Inc. Announces Equity Financing

    DALLAS--(BUSINESS WIRE)--May 3, 2004--Uranium Resources, Inc. (the
"Company")(Pink Sheets:URIX) announced that it has closed on the sale
of 32,480,333 shares of common stock in a private transaction at $0.15
per share, receiving cash of $4,872,050 from a group of private
investors composed mainly of the same investors that have provided
equity infusions to the Company since August 2000. The Company expects
an additional approximately $1 million to be funded in the next
several weeks. The Company will file with the SEC a resale
registration statement for these and other shares in the near future.
    With this funding the Company will commence mining at the Vasquez
property. The Company expects to begin deliveries of uranium in
January 2005.
    Paul K. Willmott, Chairman and President, stated that he viewed
the commencement of production activities as an important first step
towards the development and further exploitation of our extensive U.
S. resource base while, at the same time, fulfilling our environmental
responsibilities at our existing facilities. He looks forward to
Uranium Resources, Inc. once again resuming its position as the
premier, domestically controlled, U. S. uranium mining company. Mr.
Willmott also stated that he would like to thank all that had worked
with the Company across a difficult period for the Company.
    This press release contains "forward-looking statements." These
include, without limitation, statements relating to future mining
plans, production and other such matters. The words "expect,"
"anticipate," "estimate," or "plan" and similar expressions identify
forward-looking statements. Such statements are based on certain
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions, expected future developments and other factors it believes
are appropriate in the circumstances. The Company does not undertake
to update, revise or correct any of the forward-looking information.
Factors that could cause actual results to differ materially from the
Company's expectations expressed in the forward-looking statements
include, but are not limited to, the following: industry conditions;
volatility of uranium prices; operational risks; potential
liabilities, delays and associated costs imposed by government
regulation (including environmental regulation); inability to raise
the funds for the substantial capital expenditures required to fund
operations; and risks related to exploration and developmental
drilling. For a more complete explanation of these various factors,
see "Cautionary Statements" included in the Company's latest Annual
Report on Form 10-KSB filed with the Securities And Exchange
Commission.
    Uranium Resources, Inc. is a Dallas area based uranium-mining
company whose shares are quoted on the Pink Sheets under the symbol
URIX. The Company specializes in in-situ solution mining and holds
substantial uranium mineralization in South Texas and New Mexico. The
Company's properties have been shut in since July 1999.

    CONTACT: Uranium Resources, Inc.
             Paul K. Willmott or Thomas H. Ehrlich, 972-219-3330