Uranium Energy Corp.: Exhibit 10.22 - 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. 

MEMORANDUM OF IN-SITU URANIUM MINING LEASE



	THE STATE OF TEXAS 	§ 
	COUNTY OF DUVAL 	§ 



             
THIS AGREEMENT, dated as of February 15, 2006, made by and between EDWARD
STEELHAMMER, whose address is 2692 FM 222 Loop North, Coldspring, Texas
77331, (hereinafter referred to as “Lessor”) and EVEREST RESOURCE
COMPANY, a Texas Corporation, whose address is Post Office Box 1339, Corpus
Christi, Texas 78403 (hereinafter referred to as “Lessee”), do hereby
acknowledge and give notice that Lessor has entered into an In-Situ Uranium
Mining Lease with Lessee, covering the lands and premises situated in Duval
County, Texas, more fully described as follows: and the parties agree as
follows: 

             
3100.64 acres, more or less, LIMITED TO THOSE DEPTHS LYING FROM THE SURFACE
OF THE EARTH DOWN TO AND INCLUDING 1,500’ SUBSURFACE, situated in Duval
County, Texas, being out of the following surveys, to wit: 

	  	  	Original 	  	  	  	  
	Sur. 	Cert. 	Grantee 	Patentee 	Pat. No. 	Vol. 	Abstract No. 
	255 	1/42 	S.M.&S. 	J.J. Dix 	454 	22 	590 
	247 	342 	S.K. & K. 	J.J. Dix 	430 	22 	548 
	245 	341 	S.K. & K. 	J.J. Dix 	429 	33 	549 
	81 	31/184 	H. & H.R.R. 	J. J. Dix 	64 	25 	249 
	239 	1/309 	J. Poitevent 	J. J. Dix 	296 	22 	399 
	3 	3 	J. Pettigrew 	Mrs. J. Pettigrew 	589 	37 	374 
	241 	339 	S.K. & K. 	J. J. Dix 	428 	33 	551 
	1 	5/202 	H.T. & B.R.R. 	John A. Dix 	119 	19 	328 


Said 3100.64 acres is Share No. 3, Parcel F-2, allotted to
Robert Schallert in the decree of partition rendered by the District Court of
Nueces County, Texas, on August 8, 1908, in Cause No. 4271, styled Robert
Schallert, et al. vs. Chas. Hoffman, et at., which Decree is incorporated herein
by reference and made a part hereof for an accurate metes and bounds description
of said Share and Parcel and for all other pertinent purposes. 

             
It is expressly provided that this Lease covers only the uranium, thorium.
molybdenum, vanadium, and all other fissionable materials. together with all
minerals, metals, materials, elements, compounds, solutions and mixtures which
are necessarily produced in solution with, and incidental to, the production of
the above-named substances in and under said lands above described. 

1 




             
Said In-Situ Uranium Mining Lease shall have an “Effective Date” of February 15,
2006 and provides for a primary term of five (5) years, subject to all of the
terms, conditions and provisions as set out in said In-Situ Uranium Mining
Lease. The original of such In-Site Uranium Mining Lease is in the office of the
Lessee, where it is open to examination and investigation by interested parties
during reasonable business hours. 

             
This notice is given to place every person on notice of the existence of said
In-Situ Uranium Mining Lease, and all of the terms, provisions and conditions
thereof; and this notice is given in lieu of filing the original of such In-Situ
Uranium Mining Lease for record in Duval County, Texas. 

             
EXECUTED IN DUPLICATE ORIGINALS this the __9___ day of _March___,
2006. 

LESSOR: 

“Edward
Steelhammer”                     

EDWARD STEELHAMMER 

LESSEE: 
EVEREST RESCOURCE
COMPANY 

BY: “Tom M.
Crain”                      

TOM M. CRAIN, JR., 
VICE PRESIDENT 


2 






	STATE OF TEXAS 	§ 
	COUNTY OF San Jacinto	§ 



This instrument was acknowledged before me on the  9
day of March , 2006, by EDWARD STEELHAMMER. 

"Jessica Irwin"                                   

NOTARY PUBLIC, State of Texas 


	STATE OF TEXAS 	§ 
	COUNTY OF NUECES 	§ 



This instrument was acknowledged before me on the
15th day of February, 2006, by Tom M. Crain, Jr., Vice President of
EVEREST RESOURCE COMPANY, on behalf of said corporation. 


	“Karen L. Paige”                                   
    
    
	NOTARY PUBLIC, State of Texas




3 




STATE OF
TEXAS                  
COUNTY OF DUVAL 
I hereby certify that this instrument was filed on the date
and time stamped hereon by me and was duly recorded in the OFFICIAL RECORDS of
Duval County, Texas. 

VOL. 417 PAGE 271-274 
March 29, 2006 
Recording Date

County Clerk Duval County 

4