SC 13G 1 uranium13gmay06.txt Uranium Energy Corp Common Shares 916896103 May 31, 2006 CUSIP 916896103 1. Sprott Asset Management Inc. Suite 2700, South Tower, Royal Bank Plaza, Toronto, Ontario M5J 2J1 Canada 2. n/a 3. 4. Ontario, Canada 5. 2,250,000 6. n/a 7. 2,250,000 8. n/a 9. n/a 10. n/a 11. n/a 12. BD Item 1 (a) Uranium Energy Corp. (b) Austin Centre 701 Brazos, Suite 500 PMB# Austin, TX 78701 United States Item 2 (a) Sprott Asset Management Inc. (b) Suite 2700, South Tower Royal Bank Plaza P.O. Box 27 Toronto, Ontario M5J 2J1 Canada (c) Canadian (d) Common Shares (e) 916896103 Item 3 n/a Item 4 (a) n/a (b) n/a (c) (i) 2,250,000 (ii) n/a (iii) 2,250,000 (iv) n/a Item 5 N/A Item 6 n/a Item 7 n/a Item 8 n/a Item 9 n/a Item 11 June 9, 2006 Neal Nenadovic Chief Financial Officer