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URXE News Urex Energy Applauds IEA'S Recommendation for Increased Use of Nuclear Power to Slow Climate Change and Increase Energy Security in New ''World Energy Outlook 2006''

RENO, Nev.--(BUSINESS WIRE)--Urex Energy Corporation (OTCBB:URXE) today announced its support of the International Energy Agency’s (IEA) recommendation to increase the use of nuclear power as a way to improve energy security and cut greenhouse gas emissions. The IEA’s new “World Energy Outlook 2006” predicts that, based on current trends, by 2030 global use of fossil fuels will rise by more than 50% and carbon emissions will increase by 55%, unless world leaders support more sustainable options such as nuclear and renewable energies in power generation and biofuels in transportation.

In its World Energy Outlook 2006 released last month, the International Energy Agency asserts that in order to create a sustainable long-term future, nuclear energy must be a larger part of the energy mix. The report recommends governments build more nuclear plants and take a more active role in facilitating private investment for nuclear expansion in order to slow climate change and increase energy security. This is the first time in its 32-year history that the agency has backed nuclear so strongly. This year’s report devotes an entire chapter to nuclear power’s renewed promise.

The study reveals that the energy future we face today is “dirty, insecure and expensive.” Without new government measures to alter underlying energy trends, global primary energy demand is set to increase by 53% between now and 2030, increasing carbon dioxide emissions by 55% to a staggering 40 gigatonnes. However, energy conservation and investment in nuclear power could cut consumption by 10% by 2030, the IEA said, the equivalent of China's energy use today. Carbon emissions would drop by 16%, the equivalent of the U.S. and Canada’s emissions combined.

“Nuclear power – a proven technology for baseload electricity generation – could make a major contribution to reducing dependence on imported gas and curbing CO2 emissions in a cost-effective way,” stated the agency.

Urex Energy supports the International Energy Agency’s endorsement of nuclear power. The Company is focused on mining uranium, the fuel for nuclear power generation. Urex has made noteworthy progress toward the exploration of two highly prospective uranium properties in New Mexico and Argentina, and expects to begin exploration drilling in first quarter 2007.

The International Energy Agency acts as energy policy advisor to 26 member countries, including the United States, in their effort to ensure reliable, affordable and clean energy for citizens. Nations contributing to the World Energy Outlook 2006 report include Canada, the U.S., Great Britain, Germany and Japan. The International Monetary Fund and the World Bank also participated.

About Urex Energy Corporation

Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.

Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits. Between 1950 and 1978 the Grants Mining District produced 270 million pounds of uranium oxide which ranks it as the most prolific uranium district in the United States.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including any statements that Urex may or will discover uranium deposits through its exploration activities. Actual results relating to, among other things, reserves, results of exploration, capital costs, drilling programs and mine production costs could differ materially from those currently anticipated in such forward-looking statements. Factors affecting forward-looking statements include: the speculative nature of mining exploration and development activities; changes in ore reserve estimates; the productivity of Urex's mining properties; changes in the operating costs; changes in economic conditions and conditions in the precious metals, especially uranium, changes in the demand for precious metals, including uranium, foreign exchange and other financial markets; changes in the prices for uranium, precious metals or other minerals Urex develops or produces; changes in investment and exploration expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Urex operates; technological, mechanical and operational difficulties encountered in connection with Urex's mining activities; and labour relation matters and costs. You should refer to the risk disclosures set out in Urex’s periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.