Uranerz Energy Corporation (Uranerz) is a uranium company focused on commercial in-situ recovery (ISR) uranium production. The Company is principally focused on the development of its properties in the Powder River Basin area into commercial ISR uranium mines. The Company operates in two segments: Arkose Mining Venture (Arkose) and the Company�s remaining operations. Its Wyoming properties, all in the Powder River Basin, totaling 87,414 acres include 100% owned properties, totaled 25,261 acres as of December 31, 2011, and properties of Arkose Mining Venture, in which it held an 81% interest, totaling 62,153 acres as of December 31, 2011. As of December 31, 2011, a total of 380 drill holes were completed on Powder River Basin properties, representing approximately 288,404 feet of drilling at an average depth of 755 feet per hole. The Arkose Mining Venture properties consist of unpatented mineral lode claims, state leases and fee (private) mineral leases.