Exhibit 21.1
SUBSIDIARIES OF URANIUM ENERGY CORP.
The following is a list of the significant subsidiaries of the Company and the corresponding state or jurisdiction of incorporation or organization of each. All subsidiaries of the Company are directly or indirectly wholly-owned by the Company.
| Name of Subsidiary | State or Jurisdiction of Incorporation or Organization |
| AUC, LLC (1) | Delaware |
| Metalicos Y No Metalicos Paraguay S.R.L. (2) | Paraguay |
| JCU (Canada) Exploration Canada, Ltd. (3) | British Columbia, Canada |
| Roughrider Mineral Assets Inc. (4) | Saskatchewan, Canada |
| South Texas Mining Venture, L.L.P. (5) | Texas |
| Sweetwater Uranium Inc. (6) | Wyoming |
| Transandes Paraguay S.A.(7) | Paraguay |
| UEC Resources Ltd. | British Columbia, Canada |
| UEC Wyoming Corp. | Wyoming |
| UEC US Uranium LLC | Nevada |
| UEC Uranium Corp.(8) | Delaware |
| UEX Corporation | Canada |
| Wyoming Coal Resources Company (6) | Delaware |
Notes:
| (1) | This limited liability company is a wholly-owned subsidiary of AUC Holdings (US), Inc. |
| (2) | This company is 90% owned by Paraguay Resources Inc. and 10% owned by CIC Resources (Paraguay) Inc. |
| (3) | This company is 50% owned by UEX Corporation. |
| (4) | This company is a wholly-owned subsidiary of Roughrider Mineral Holdings Inc. which is 100% owned by UEC Resources (SK) Ltd. |
| (5) | URN South Texas Project, Ltd. holds a 99% interest in the South Texas Mining Venture, L.L.P., with the remaining 1% interest held by URN Texas GP, LLC. |
| (6) | This company is a wholly-owned subsidiary of UEC Sweetwater Corp. |
| (7) | Transandes Paraguay S.A. is a wholly-owned subsidiary of Cue Resources Ltd. |
| (8) | This company is a wholly-owned subsidiary of UEC Wyoming Corp. which is 100% owned by the Company. |