Uranium Energy Corp.: Exhibit 10.26 - Filed by newsfilecorp.com





NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL
PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS
INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL
SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER. 

	STATE OF TEXAS 	§ 
	  	MEMORANDUM OF IN-SITU URANIUM MINING
      LEASE 
	  	AND SURFACE USE AGREEMENT 
	COUNTY OF BEE 	§ 


     This Memorandum of In-Situ
Uranium Mining Lease and Surface Use Agreement (hereafter “Lease”) made this 21
day of February , 2012 by and between Thomson-Barrow Corporation, a Texas
corporation whose address is 6363 Woodway Dr., Suite 630, Houston, Texas 77057
(“Lessor”, whether one or more), Burke Hollow Corporation, whose address is 6363
Woodway Dr., Suite 630, Houston, Texas 77057 (“Surface Owner” under leased
Premises), whether one or more) and Uranium Energy Corp., a Nevada Corporation
authorized to conduct business in Texas whose address is 500 N. Shoreline Blvd.,
Suite 800N, Corpus Christi, Texas 78471, including its successors and assigns,
hereinafter called “Lessee.” (“Lessee”). 

WITNESSETH: 

     Lessor and Lessee have this day
entered into an In-Situ Uranium Lease and Surface Use Agreement (the “Lease”)
covering the following described lands located in Bee County, Texas (the
“Lands”) to wit: 

17,510.63 acres of land, more or less, located in
Bee County, Texas, and being more particularly described in Attached Exhibit “A”


     The Lease provides for a five (5)
year primary term. Lessor and Surface Owner grant to Lessee the exclusive right
of entering upon and conducting mining exploration and related operations upon,
over and across the lands, together with all privileges necessary, useful or
convenient in connection therewith and Lessor herein grants, leases and lets
unto Lessee, all rights and privileges under the Lease covering all of Lessor’s
mineral interests in, to and under all of the lands, subject to the terms and
conditions set forth more fully in the Lease. 

     Lessor, Surface Owner and Lessee
are executing this Memorandum of In-Situ Solution Mining Lease and Surface Use
Agreement for the purpose of placing the same of record in Bee County, Texas to
give constructive notice of all of the terms of the Lease in lieu of recording
the Lease in its entirety. 

IN WITNESS WHEREOF, this Lease is executed as of the day and
year first above written. 

	  	LESSOR 	  	SURFACE OWNER 
	  	THOMSON-BARROW CORPORATION 	  	BURKE HOLLOW CORPORATION 
	  	  	  	  
	By: 	“Kenneth T. Barrow” 	By: 	“Kenneth T. Barrow” 
	  	Kenneth T. Barrow, President 	  	Kenneth T. Barrow, President 
	  	LESSEE 	  	  
	  	URANIUM ENERGY CORP. 	  	  
	  	  	  	  
	By: 	“Harry Anthony” 	  	  
	  	Harry Anthony, as Chief Operating
      Officer 	  	  






ACKNOWLEDGEMENTS 


	STATE OF TEXAS 	§ 
	COUNTY OF HARRIS 	§ 



     This instrument was acknowledged
before me on the 21 day of February, 2012 by THOMSON-BARROW CORPORATION,
Kenneth T. Barrow, President. 

	 	“Amy
      Goodwin” 
	 	Notary Public For The State Of Texas
  




	STATE OF TEXAS 	§ 
	COUNTY OF HARRIS 	§ 



     This instrument was acknowledged
before me on the 21 day of February, 2012 by BURKE HOLLOW CORPORATION,
Kenneth T. Barrow, President. 

	 	“Amy
      Goodwin” 
	 	Notary Public For The State Of Texas
  




	STATE OF TEXAS 	§ 
	COUNTY OF NUECES 	§ 



     This instrument was acknowledged
before me on the 27th day of February, 2012 by URANIUM
ENERGY CORP., Harry Anthony, as Chief Operating Officer. 

	 	“Robert W. Gaston” 
	 	Notary Public For The State Of Texas
  






EXHIBIT “A” 
to 
MEMORANDUM
OF
IN-SITU SOLUTION MINING LEASE 
AND SURFACE USE
AGREEMENT 


ATTACHED TO AND MADE A PART OF THAT CERTAIN IN-SITU SOLUTION
MINING LEASE AND SURFACE USE AGREEMENT BY THOMSON-BARROW CORPORATION AND
BURKE HOLLOW CORPORATION, AS GRANTOR, AND URANIUM ENERGY CORP., AS
GRANTEE 

PREMISES DESCRIPTION 

17,510.63 ACRES OF LAND, more or less, being comprised of
Blocks Two, Three and Four as described in that certain Partition of the Laura
Driscoll Thomson Estate Ranch of 29,337.04 acres out of the Miguel de los Santos
Survey, A-64, the John Roache Survey, A-60, the Garrett Roache Survey, A-59,the
William Burke Survey, A-9, the John, Michael and Martin Tool Survey, A-67, the
Maximo Gomez Survey, A-25, the J.M. Castillo Survey, A-14, the Saragossa
Irrigation and Manufacturing Co. Survey, A-1250 and the Patrick Downey Survey,
A-20 in BeeCounty, Texas. Map of said Partition being recorded in Volume 2, Page
49 of the Map Records of Bee County, Texas 

	FILED AND RECORDED 	STATE OF TEXAS 	           
                       COUNTY OF
      BEE 
	OFFICIAL PUBLIC RECORDS 	
             I hereby
      certify that this instrument was filed on the date and time stamped hereon
      by me and was duly recorded in the volume and page of the Official Public
      Records of Bee Counts/ Texas stamped hereon by me.

	On: Sep 20, 2012 at 01:28P 
	  	  
	Document Number: 	178374 
	  	  	  	Sep 20, 2012 
	Amount 	24.00 	  	Mirella Escamilla Davis 
	  	  	  	Bee Counts Clerk Bee Counts. Texas
    
	Mirella Escamilla Davis 	  	  	  	  
	Bee Counts Clerk 	  	  	  	  
	By 	  	By 	Anna
      Trevino 	Deputy 
	Theresa Del Bosque, Deputy 	  	  	  	  
	Bee County