UEX Corp

Published : April 23rd, 2007

on Riou Lake and Northern Athabasca Uranium Projects 2007 Geophysical Programs and 2006 D

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Attention Business Editors:

UEX Update on Riou Lake and Northern Athabasca Uranium Projects 2007 Geophysical Programs and 2006 Drilling Programs

     Trading Symbol: UEX-TSX
     VANCOUVER, April 23 /CNW/ - UEX Corporation ("UEX") is pleased to
announce that ground geophysical surveying is underway on its Riou Lake
Project ("Riou Lake"), and has been recently completed on its Munroe Lake
Project ("Munroe Lake"), one of the Northern Athabasca Uranium Projects (the
"Northern Projects"). Riou Lake and Munroe Lake are 100%-owned by UEX and are
located in the northern Athabasca Basin of Saskatchewan. The geophysical
surveys were designed to better detail prospective areas explored with
electromagnetic surveys and drilling programs in 2006.
     Riou Lake
     ---------
     2006 Drilling Program Results
     In the fall of 2006, UEX carried out a helicopter-supported Diamond
drilling program on high-priority targets along the KC Conductor. Three holes
were drilled totaling approximately 2,487 metres, including a hole that was
restarted from a wedge at 335 metres depth after the initial hole was lost in
highly fractured rock. One of the three holes encountered a narrow interval of
uranium mineralization.
     Hole RLG-D25 intersected uranium-bearing basement rock just below the
unconformity at 602.3 metres, grading 0.66% U(3)O(8) over 0.10 metres. The
geochemical signature of the occurrence is similar to that of uranium deposits
in the Athabasca Basin with accompanying enrichment in nickel, arsenic,
cobalt, copper, lead, potassium and magnesium. A subsequent re-evaluation of
the KC Conductor in the area of hole RLG-D25 indicates that the hole narrowly
missed the optimum target location where the top of the conductor intersects
the unconformity, interpreted to be approximately 25 metres north of the hole
collar. Follow-up drilling is planned for this prospective area of the KC
Conductor in 2007.
     2007 Exploration Programs
     A DC Resistivity survey totaling approximately 25.0 line kilometres is
underway at Riou Lake within the Hocking Lake Corridor, a highly-prospective
area with known faulting, graphitic conductors, and sandstone alteration on
surface and in drill holes.
     Follow-up drilling of any prospective targets interpreted from the
ongoing ground surveys would occur as part of a summer 2007
helicopter-supported drilling program, or from a land-based drill, depending
on the access to the target location.
     Northern Projects
     -----------------
     2006 Drilling Program Results
     During the summer and fall of 2006, as part of the helicopter-supported
exploration program UEX drilled 4,353 metres in 8 holes on four of the
Northern Projects, namely Butler Lake, Fond du Lac, Munroe Lake, and Otherside
River. The drilling program targeted anomalous geophysical responses obtained
from the 2005 airborne and 2006 ground geophysical programs. None of the holes
intersected significant uranium mineralization. However, on the Munroe Lake,
hole ML-02 encountered strong dravite alteration in the sandstone. At the
Butler Lake Project, anomalous uranium values up to 5 to 10 times background
were observed in the basal 30.0 metres of sandstone. Hole BTL-01 also
encountered anomalous nickel values below the unconformity, which was reached
at 403.1 metres. A subsequent borehole electromagnetic survey of hole BTL-01
indicated that a strong basement conductor lies about 50 metres below the end
of hole at 540.0 metres. Follow-up drilling is planned.
     2007 Exploration Programs
     A time-domain electromagnetic survey totaling 70.0 line kilometers has
been recently completed at Munroe Lake in the vicinity of hole ML-02, and on
other conductors interpreted from UEX's 2005 MEGATEM airborne survey.
Follow-up drilling of interpreted conductors is planned as part of the
helicopter-supported drilling program during the summer and fall of 2007.
     The technical information in this document has been compiled and reviewed
by Sierd Eriks, P. Geo., a qualified person as defined by National Instrument
43-101. True widths of drill hole intervals have not yet been determined. To
access a map depicting UEX's Riou Lake and Northern Projects, please visit
UEX's website at www.uex-corporation.com under "Latest Updates", and "Map
Gallery".
     About UEX
     UEX is a Canadian uranium exploration company formed under an agreement
between Pioneer Metals Corporation and Cameco Corporation. Cameco Corporation,
the world's largest supplier of uranium, is UEX's largest shareholder. UEX
began trading on the Toronto Stock Exchange in July 2002 and is actively
involved in the exploration and development of 19 uranium projects, including
seven that are 100% owned and operated by UEX, one joint venture with AREVA
that is operated by UEX, ten under option from AREVA and one under option from
Japan-Canada Uranium Company, Limited, which are operated by AREVA. The 19
projects, totaling approximately 385,452 hectares (952,452 acres), are located
in the eastern, western and northern perimeters of the Athabasca Basin, the
world's richest uranium belt, which accounts for approximately 25% of the
global primary uranium production. UEX's exploration budget for 2007 is
approximately $25.0 million and the Company has a cash position of
approximately $72.4 million.
            ON BEHALF OF THE BOARD OF DIRECTORS OF UEX CORPORATION
                    Stephen H. Sorensen, President & C.E.O.
     Forward-Looking Statements
     This news release contains "forward-looking statements" that are based on
UEX's current expectations, estimates, forecasts and projections. These
forward-looking statements include statements regarding UEX's outlook for our
future operations, plans and timing for the commencement or advancement of
exploration activities on our properties, and other expectations, intention
and plans that are not historical fact. The words "estimates", "projects",
"expects", "intends", "believes", "plans", or their negatives or other
comparable words and phrases are intended to identify forward-looking
statements. Such forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Many of these factors are beyond the control of UEX. Consequently,
all forward-looking statements made in this news release are qualified by this
cautionary statement and there can be no assurance that actual results or
developments anticipated by UEX will be realized. For the reasons set forth
above, investors should not place undue reliance on such forward-looking
statements. UEX disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
     %SEDAR: 00017609E
For further information: UEX CORPORATION, Suite 1007 - 808 Nelson Street,
Vancouver, B.C., V6Z 2H2, PH: (604) 669-2349, FAX (604) 669-1240, Website:
www.uex-corporation.com, e-mail: uex@intergate.ca

Data and Statistics for these countries : Canada | Japan | All
Gold and Silver Prices for these countries : Canada | Japan | All

UEX Corp

EXPLORATION STAGE
CODE : UEX.TO
ISIN : CA9026661061
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UEX is an exploration gold and copper company based in Canada.

UEX holds various exploration projects in Canada.

Its main exploration properties are BLACK LAKE, RIOU LAKE, BEATTY RIVER, DOUGLAS, NORTHERN ATHABASCA PROJECTS, WESTERN ATHABASCA PROJECTS, FOND DU LAC, SHEA CREEK, HIDDEN BAY, ALEXANDRA, BRANDER LAKE PROJECTS and JAMES CREEK PROJECTS in Canada.

UEX is listed in Canada and in Germany. Its market capitalisation is CA$ 41.5 millions as of today (US$ 31.6 millions, € 26.6 millions).

Its stock quote reached its lowest recent point on August 15, 2003 at CA$ 0.05, and its highest recent level on November 09, 2007 at CA$ 9.30.

UEX has 319 240 000 shares outstanding.

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Financings of UEX Corp
5/18/2016Closes $7.25 Million Combined Flow-Through and Hard Dollar P...
6/5/2013Announces Closing of Private Placement
5/25/2013Announces $3.175 Million Private Placement
2/23/2012Announces $3 Million Private Placement
Nominations of UEX Corp
12/19/2013Announces the Appointment of Roger Lemaitre as President and...
4/29/2011appoints Ed Boney as Chief Financial Officer
5/27/2010Appoints Walter Segsworth and David Rhys to its Management A...
Financials of UEX Corp
11/6/2013Third Quarter 2013 Financial Results and MD&A
Project news of UEX Corp
1/7/20142014 Joint Venture Exploration Programs Commence
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4/26/2012(Shea Creek)/AREVA 2012 Shea Creek Drilling Program Underway
2/16/2012(Hidden Bay)Commences Winter 2012 Hidden Bay Drilling Program
11/30/2011(Shea Creek)Announces Shea Creek Drilling Budget of $6 Million for 2012
8/9/2011(Hidden Bay)Commences 18,000 Metre Summer Drilling Program at Hidden Bay
2/24/2011(Western Athabasca Projects)/AREVA 2011 Western Athabasca Basin Drilling Programs Underw...
2/18/2010(Hidden Bay)Receives West Bear Preliminary Feasibility Study Reporting P...
1/27/2010(Shea Creek)2010 Western Athabasca Basin Drilling Programs Underway with...
1/6/2010(Hidden Bay)Reports Results of Summer 2009 Exploration on the Hidden Bay...
7/23/2009(Hidden Bay)Reports Significantly Expanded Resource Estimates for the Ho...
2/25/2009(Shea Creek)2009 Drill Program Underway at Shea Creek with Three Drills
1/12/2009(Shea Creek)/AREVA Drilling in the Prospective Corridor at Shea Creek Co...
1/5/2009Reports N.I. 43-101 Compliant Mineral Resource Estimate for ...
9/29/2008(Hidden Bay)reports N.I. 43-101 compliant mineral resource for Horseshoe...
6/18/2008/AREVA Drilling Outlines New Zone of High-grade Mineralizati...
1/17/2008(Hidden Bay) Launches Largest Winter Drilling Program at Hidden Bay with...
1/15/2008(Shea Creek)UEX/AREVA Launch Largest Drill Program to Date at Shea Creek...
12/5/2007(Shea Creek)/AREVA Plan $20.3 Million Program at Shea Creek for 2008 Whi...
12/4/2007(Shea Creek)/AREVA Report Additional High-Grade Basement-Hosted Minerali...
11/14/2007/AREVA Report High-Grade Basement-Hosted Mineralization in t...
10/18/2007Report Second-Best Hole Ever at the Anne Deposit Intersectin...
9/4/2007(Shea Creek)/AREVA to Commence Shea Creek Drilling Program with Three Dr...
8/21/2007(Black Lake)Extends Uranium Mineralization at Black Lake Hole BL-140 Int...
7/23/2007Reports Best Hole Ever from West Bear Deposit: Hole UEX-206 ...
7/12/2007Drilling Extends Mineralization at Kianna Deposit: SHE-115-1...
6/14/2007 Plans to Initiate Final Feasibility Study at Raven and Hors...
2/8/2006(Beatty River)2006 winter exploration commences at Beatty River Uranium pr...
Corporate news of UEX Corp
8/18/2016Research Reports Initiated on Uranium Miners Stocks U3O8, UE...
7/11/2016Paul Bay Continuity Confirmed and Down-Dip Drilling Underway
6/24/2016High Grade Zone Extended at Christie Lake
6/13/2016Drill Turning at Christie Lake
6/8/2016UEX Corporation Reports Results of Annual General Shareholde...
5/25/2016Highest Grade Hole at Christie Lake Project – 9.3% U3O8 over...
5/17/2016UEX Closes $7.25 Million Combined Flow-Through and Hard Doll...
5/2/2016UEX Places “Flow-Through” Shares and Overallotment Option; A...
4/28/2016UEX Announces $4.0 Million “Flow-Through” Private Placement
4/13/2016UEX intersects 4.27% eU3O8 over 10.2 m at Christie Lake
1/22/2016UEX Closes $2.0 Million Private Placement
1/19/2016Final Option Agreement Signed - Drill Program to Commence Im...
1/19/2016UEX Corporation: Final Option Agreement Signed-Drill Program...
12/22/2015UEX Announces $2.0 Million Private Placement
10/26/2015UEX Signs LOI on Advanced Stage Athabasca Uranium Project
9/21/2015Uranium companies could take the cake
4/21/2015UEX Announces $2.5 Million Private Placement
4/10/2015New Radioactive Fault at Wolf Lake Returns Probe Peak of 12,...
2/27/2015Promising Hydrothermal Clay Alteration Expanded at Dwyer Lak...
6/5/2014UEX/AREVA Report Drilling Results from Laurie and Mirror Riv...
4/2/2014(Black Lake)Uracan/UEX report uranium mineralization on the Black Lake P...
11/28/2013(Shea Creek)Reports 31.5 Metres Grading 0.80% eU3O8, Including 4.05% eU3...
8/6/2013(Shea Creek)Reports 22.3 Metres Grading 0.85% eU3O8, including 5.93% eU3...
6/4/2013(Shea Creek)Announces Completion and Filing of Shea Creek Technical Repo...
3/21/2013(Beatty River)Announces Completion of Beatty River Earn-in
8/8/2012/AREVA Drilling Continues to Outline Thick Mineralization at...
6/8/2012Board Re-elected and Mark Eaton Re-Appointed Chairman
5/31/2012/AREVA Drilling Continues to Outline Thick Unconformity Mine...
5/7/2012Terminates Shareholder Rights Plan
5/1/2012(Hidden Bay)Reports Summer-Fall 2011 Drilling Results for the Raven and ...
2/17/2012Announces $8 Million Bought Deal
12/16/2011Comments by David Talbot on UEX Corporation in the Energy Re...
12/7/2011Adopts Shareholder Rights Plan
12/6/2011(Shea Creek)/AREVA Drilling Expands Mineralization Northward from the Ki...
6/24/2011Board Re-elected
4/28/2011appoints Nan Lee as Vice-President of Project Development
3/17/2010Significant Unconformity Intersections at Shea Creek's 58B A...
9/23/2009CEO Stephen Sorensen to Retire; Board Names Current Chairman...
6/10/2009Stepout Drilling Expands Mineralization at Raven and Horsesh...
11/26/2008Announces Minimum $16.5 Million Budget for 2009
4/9/2008 reports final results of 2007 Horseshoe and Raven drilling,...
3/26/2008Eaton Joins UEX Board
1/22/2008UEX Commences 2008 Winter Exploration Program at Black Lake ...
1/14/2008UEX Earns Full 49% Interest in AREVA's Western Athabasca Ura...
12/14/2007Interim Resource Estimate for the West Bear Deposit Adds 223...
7/11/2007Commences Summer/Fall 2007 Drilling Programs at the Raven an...
4/23/2007on Riou Lake and Northern Athabasca Uranium Projects 2007 Ge...
2/28/2007Commences 2007 Winter Exploration Program at Black Lake Uran...
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