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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (18525)	6/13/2016 11:01:43 AM
From: Goose94	Read Replies (1) \| Respond to of 203158

UEX (UEX-T) June 13, '16 is pleased to announce that exploration drilling has recommenced at the Christie Lake Project. The $2.75 million drill program began this past winter and was suspended in mid-April due to the spring thaw. The summer program will focus on two objectives (see Figure 1): Expand the high-grade core of the known Paul Bay uranium deposit. On May 24, 2016, the Company announced the results of hole CB-092 drilled during the winter program that intersected 9.3% U3O8 over 9.8 m, the highest ever GT (uranium grade × thickness) encountered at the Christie Lake Project to date. This result established the presence of a high-grade zone within the Paul Bay deposit footprint. Extend the Paul Bay deposit in the down-dip direction. The program will consist of approximately 10 holes totaling 6,000 m and is anticipated to be completed by August. Qualified Persons Technical information in this news release has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., UEX's President and CEO who is a Qualified Person as defined by National Instrument 43-101. About the Christie Lake Project UEX currently holds a 10% interest in the Christie Lake Project and is working under an option agreement to earn up to a 70% interest. The Project is located approximately 9 km northeast and along strike of Cameco's McArthur River Mine, the world's largest uranium producer. The P2 Fault, the controlling structure for all of the McArthur River deposits, continues to the northeast beyond the mine. UEX believes that through a series of en-echelon steps the northeast strike extension of the P2 Fault not only crosses the Project but also controls the two known uranium deposits on Christie Lake, the Paul Bay and Ken Pen Deposits. The Paul Bay and Ken Pen Deposits are estimated to host a combined 20.87 million pounds of U3O8 at an average grade of 3.22% U3O8 and were discovered in 1989 and 1993 respectively. This is a historic resource estimation which does not use resource classifications consistent with NI 43-101. The historical resource estimate was presented in an internal report titled Christie Lake Project, Geological Resource Estimate completed by PNC Tono Geoscience Center, Resource Analysis Group, dated September 12, 1997. The historical resource was calculated using a 3 D block model using block sizes of 2 m by 2 m by 2 m, and block grades interpolated using the inverse distance squared method over a circular search radius of 25 m and 1 m height. Specific gravities for each deposit were averaged from specific gravity measures of individual samples collected for assay. UEX plans to complete additional infill drilling on the deposits during the option earn-in period to upgrade these historic resources to indicated and inferred. A qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves. UEX is not treating the historic estimate as current mineral reserves or mineral resources. About UEX UEX (TSX: UEX) (OTC PINK: UEXCF) (FRANKFURT: UXO) is a Canadian uranium exploration and development company involved in sixteen uranium projects, including four that are 100% owned and operated by UEX, one joint venture with AREVA that is operated by UEX, as well as nine joint ventures with AREVA, one joint venture with AREVA and JCU (Canada) Exploration Company Limited, which are operated by AREVA, and one project under option from JCU (Canada) Exploration Company Limited and operated by UEX. The sixteen projects are located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt, which in 2014 accounted for approximately 16% of the global primary uranium production. UEX is currently advancing several uranium deposits in the Athabasca Basin which include the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe, Raven and West Bear deposits located at its 100%-owned Hidden Bay Project. About JCU JCU is a private company that is actively engaged in the exploration and development in Canada. JCU is owned by three Japanese companies. Amongst these, Overseas Uranium Resources Development Co., Ltd. ("OURD") acts as the manager of JCU. JCU has partnerships with UEX, AREVA, Cameco, Denison and others on uranium exploration and development projects in the Athabasca Basin of Northern Saskatchewan including Millennium and Wheeler River and the Kiggavik project in the Thelon Basin in Nunavut. Image Available: http://www.marketwire.com/library/MwGo/2016/6/10/11G102449/Images/NR_230_Figure_1_Paul_Bay_3D_View_and_Long_Section_-cd6e73d49ea0a363a5efb4ae11fd9356.jpg UEX CORPORATION SUITE 1700 - 750 WEST PENDER STREET VANCOUVER, B.C., CANADA V6C 2T8 PH: (604) 669-2349 FAX (604) 669-1240 Website: www.uex-corporation.com Email: uex@uex-corporation.com FOR FURTHER INFORMATION PLEASE CONTACT Roger Lemaitre President & CEO (306) 713-1401