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To: Goose94 who wrote (19004)	6/24/2016 10:20:12 AM
From: Goose94	Read Replies (1) \| Respond to of 203260

UEX (UEX-T) June 24, '16 is pleased to announce the radiometric results of drill hole CB-092-1 at the Christie Lake Project, where UEX has a $2.75 million drill program which recommenced in mid-June. The Project is owned 10% by UEX and 90% by JCU (Canada) Exploration Company Limited ("JCU"). UEX holds an option to earn up to a 70% interest in the Project. Radiometric Equivalent Grades ("REGs" or "eU3O8") from down-hole probe results from hole CB-092-1 (see Figure 1) intersected widespread uranium mineralization within which a high-grade core averaged 3.82% eU3O8 over 2.6 m (507.25 to 509.85 m). Within this core zone, a higher grade subinterval of 8.09% eU3O8 over 1.0 m was also encountered. The eU3O8 grade was estimated in-situ within the drill hole using calibrated down-hole radiometric gamma probes. Samples from hole CB-092-1 (an offcut from hole CB-092 drilled this past winter) have been collected for assay analysis to confirm these equivalent grades. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan, with results expected in the coming weeks. "By intersecting high grades, hole CB-092-1 is the first step in validating our view that a high grade core exists within the Paul Bay Deposit at Christie Lake." - Roger Lemaitre, President & CEO, UEX Corporation The objectives of the current exploration program at Christie Lake are to expand the high grade core of the known Paul Bay Deposit and to extend the deposit in the down-dip direction where it appears to be open for expansion (see Figure 1). The depth of the unconformity in the Paul Bay Deposit area is approximately 425 m. 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. Qualified Persons and Data Acquisition Technical information in this news release has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., UEX's President and CEO and Trevor Perkins, P.Geo., UEX's Exploration Manager, who are each considered to be a Qualified Person as defined by National Instrument 43-101. 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 (Christie Lake) 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 2015 accounted for approximately 22% of the global primary uranium production. UEX is currently advancing several uranium deposits in the Athabasca Basin which include the Christie Lake deposits, the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project and 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. FOR FURTHER INFORMATION PLEASE CONTACT Roger Lemaitre President & CEO (306) 713-1401 uex-corporation.com