<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001803158</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001375205</issuerCik>
        <issuerName>Ur-Energy Inc.</issuerName>
        <issuerCusip>91688R108</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <ns1:street1>10758 W Centennial Road</ns1:street1>
          <ns1:street2>Suite 200</ns1:street2>
          <ns1:city>Littleton</ns1:city>
          <ns1:stateOrCountry>CO</ns1:stateOrCountry>
          <ns1:zipCode>80127</ns1:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Fourth Sail Capital LP</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12295868</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12295868</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12295868</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.37</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Ariel Merenstein</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12295868</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12295868</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12295868</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.37</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Fourth Sail Discovery LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>2882388</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>2882388</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2882388</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.79</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Fourth Sail Long Short LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>9413480</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>9413480</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>9413480</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.58</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Fourth Sail Capital US LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12295868</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12295868</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12295868</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.37</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Tordesilhas Capital Gestora De Recursos Ltda.</reportingPersonName>
      <citizenshipOrOrganization>D5</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12295868</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12295868</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.37</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Ur-Energy Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>10758 W Centennial Road
Suite 200
Littleton, COLORADO
80127</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Fourth Sail Capital LP

Ariel Merenstein

Fourth Sail Discovery LLC

Fourth Sail Long Short LLC

Fourth Sail Capital US LP

Tordesilhas Capital Gestora De Recursos Ltda.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Grand Pavilion Com. Centre
Second floor, Suite13
West Bay Road, Grand Cayman, George Town
GRAND CAYMAN, Cayman Islands
KY1-1202</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Fourth Sail Capital LP - CAYMAN ISLANDS

Ariel Merenstein - UNITED STATES

Fourth Sail Discovery LLC - DELAWARE

Fourth Sail Long Short LLC - DELAWARE

Fourth Sail Capital US LP - DELAWARE

Tordesilhas Capital Gestora De Recursos Ltda. - BRAZIL</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The percentages set forth in this 13G are calculated based upon 364,819,260 Ordinary Shares outstanding, as reported by the Issuer</amountBeneficiallyOwned>
        <classPercent>3.37</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Fourth Sail Capital LP - 0

Ariel Merenstein - 0

Fourth Sail Discovery LLC - 0

Fourth Sail Long Short LLC - 0

Fourth Sail Capital US LP - 0

Tordesilhas Capital Gestora De Recursos Ltda. - 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Fourth Sail Capital LP - 12,295,868

Ariel Merenstein - 12,295,868

Fourth Sail Discovery LLC - 2,882,388

Fourth Sail Long Short LLC - 9,413,480

Fourth Sail Capital US LP - 12,295,868

Tordesilhas Capital Gestora De Recursos Ltda. - 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Fourth Sail Capital LP - 0

Ariel Merenstein - 0

Fourth Sail Discovery LLC - 0

Fourth Sail Long Short LLC - 0

Fourth Sail Capital US LP - 0

Tordesilhas Capital Gestora De Recursos Ltda. - 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Fourth Sail Capital LP - 12,295,868

Ariel Merenstein - 12,295,868

Fourth Sail Discovery LLC - 2,882,388

Fourth Sail Long Short LLC - 9,413,480

Fourth Sail Capital US LP - 12,295,868

Tordesilhas Capital Gestora De Recursos Ltda. - 12,295,868</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Fourth Sail Capital LP</reportingPersonName>
      <signatureDetails>
        <signature>Thiago Doria</signature>
        <title>Authorized Person</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Ariel Merenstein</reportingPersonName>
      <signatureDetails>
        <signature>Thiago Doria</signature>
        <title>Attorney in fact</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Fourth Sail Discovery LLC</reportingPersonName>
      <signatureDetails>
        <signature>Thiago Doria</signature>
        <title>Authorized Person</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Fourth Sail Long Short LLC</reportingPersonName>
      <signatureDetails>
        <signature>Thiago Doria</signature>
        <title>Authorized Person</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Fourth Sail Capital US LP</reportingPersonName>
      <signatureDetails>
        <signature>Thiago Doria</signature>
        <title>Authorized Person</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Tordesilhas Capital Gestora De Recursos Ltda.</reportingPersonName>
      <signatureDetails>
        <signature>Tathiana Azevedo</signature>
        <title>Authorized Person</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
