Uranerz Energy Corporation: Joint Venture of Two Projects

Market Wire, June, 2006

(i) the inability of the Company to complete the acquisition of any interest in any new mineral exploration properties;

(ii) the inability of the Company to achieve the financing required to pursue the acquisition of exploration of any new mineral properties;

(iii) the inability of the Company to raise the financing necessary to conduct exploration or development of its properties; and

(iv) the lack of presence of commercial mineralization on its properties.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

Contacts: Uranerz Energy Corporation Glenn Catchpole President and CEO (604) 689-1659 (604) 689-1722 (FAX) www.uranerz.com