Ur-Energy Inc. Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Asset retirement obligation

Asset retirement obligation

12 Months Ended

Dec. 31, 2011

Asset retirement obligation

The Company has recorded $561,964 for asset retirement obligations (December 31, 2010 – $503,101) which represents an estimate of costs that would be incurred to remediate the exploration and development properties. The retirement obligations recorded relate entirely to exploration and development drill holes, related monitor wells and site disturbance on the Company's U.S. properties. The restricted cash, non-current as discussed in note 4 is related to letters of credit which provide security to the related governmental agencies on these obligations.

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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