UEX Corp

Published : July 23rd, 2007

Reports Best Hole Ever from West Bear Deposit: Hole UEX-206 Intersects High-Grade Mineralization

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Keywords :   Canada | Japan | K Street | Uranium | Water |

Attention Business Editors:

UEX Reports Best Hole Ever from West Bear Deposit: Hole UEX-206 Intersects High-Grade Mineralization Grading 6.03% U(3)O(8) over 10.67 metres, Including 25.22% U(3)O(8) over 1.76 metres; 2007 Winter Sonic Drilling Program Extends Uranium Mineralization to the East; New N.I. 43-101 Compliant Resource Estimate Underway

     Trading Symbol: UEX-TSX
     VANCOUVER, July 23 /CNW/ - UEX Corporation ("UEX") is pleased to announce
the results from 113 holes totaling 3,386 metres completed during the 2007
winter sonic drilling program on the West Bear Uranium Deposit ("West Bear"),
located within UEX's 100%-owned Hidden Bay Project in the eastern Athabasca
Basin area of northern Saskatchewan, Canada. The results include an
intersection in hole UEX-206 grading 6.03% U(3)O(8) over 10.67 metres,
including 25.22% U(3)O(8) over 1.76 metres, representing the best intercept to
date in the deposit, where mineralization occurs at a vertical depth of
between 10 and 31 metres from surface. This intercept is located in the core
area of the deposit where infill drilling was carried out to better define and
confirm continuity of uranium grades.
     The main objectives of the 2007 winter sonic drilling program were to
test the eastern deposit area for uranium mineralization and better define the
deposit geometry and uranium grades in the high-grade core of the main deposit
area. The 2007 winter sonic drilling program, when integrated with
previously-reported holes from 2005, has now defined the West Bear Deposit
over a strike length of 500 metres on drill fences spaced 25 metres apart with
holes spaced at 5 metre intervals. In the high-grade core area of the deposit,
between Lines 17+50E and 18+50E, holes spaced at 5 metre intervals have now
been drilled on fences spaced at 12.5 metre intervals. UEX is extremely
encouraged by the number of 2007 sonic drill holes that have extended the
uranium mineralization to the east by 150 metres and confirmed the continuity
of uranium grades in the high-grade core of the main deposit area.
     The National Instrument 43-101 ("N.I. 43-101") compliant indicated
resource estimate prepared by Cameco Corporation ("Cameco"), which was based
on UEX's 2005 sonic drilling program, outlined an indicated resource of
45,600�tonnes, grading 1.385% U(3)O(8) and totaling 1.391 million pounds
U(3)O(8) at West Bear. The West Bear resource estimate technical report dated
March 2, 2006 is available for review at www.sedar.com
     A new N.I. 43-101 compliant resource estimate, incorporating the results
from the 2007 winter sonic drilling program, is presently being calculated by
Golder Associates Ltd. ("Golder") of Saskatoon, SK and should be delivered to
UEX by September 2007. (Note: Due to the dramatic increase in the spot price
of uranium since Cameco's 2005 resource calculation, Golder will use a lower
cut-off grade of 0.05% U(3)O(8) in its new compliant resource estimate for
West Bear compared to the 0.15% U(3)O(8) cut-off grade used by Cameco.)
     "We are pleased with the results of the winter drilling program at West
Bear," said Stephen Sorensen, President and CEO of UEX. Sorensen went on to
say, "we expect the resource at West Bear should increase because of the
several new high-grade intercepts encountered within the main deposit area,
combined with the extension of new mineralization to the east, and the use of
a lower cut-off grade by Golder in the final resource calculation."
     2007 Winter Sonic Drilling Program
     The 2005 West Bear resource estimate report by Cameco notes that only
two-thirds of the strike length of the mineralized area included as part of a
historical resource outlined by Gulf Minerals ("Gulf") was tested during the
2005 sonic drilling program. A number of historical Gulf holes indicate that
uranium mineralization likely extends to the east up to 150 metres beyond the
current boundaries of the deposit.
     One of the goals of the 2007 winter sonic drilling program was to test
the eastern deposit area for uranium mineralization not previously drilled.
The 2007 program extended the uranium mineralization 150 metres east of the
boundary outlined during the 2005 sonic drilling program. This new uranium
mineralization forms a narrow continuous lens straddling the unconformity in
the northern section of the eastern deposit area. This mineralization contains
uranium values of up to 0.360% U(3)O(8) over 2.0 metres in hole UEX-116 (see
accompanying Section 2075E on UEX's website) and 0.670% U(3)O(8) over
3.05�metres in hole UEX-120 (see accompanying Section 2025E on UEX's website).
To view maps from the 2007 winter exploration program at West Bear, please
access UEX's website at www.uex-corporation.com under "Latest Updates".
     A small secondary lens of uranium mineralization not previously
identified by Gulf Minerals was also discovered in the southern section of the
eastern deposit area. This southern lens of mineralization extends over a
strike length of over 75 metres and contains uranium values of up 0.421%
U(3)O(8) over 2.55 metres in hole UEX-172 (see accompanying Section 2025E on
UEX's website).
     The results of holes UEX-102 to UEX-184 drilled within the eastern
deposit area are presented below in Tables 1, 2 and 3. Significant results
from these holes include the following mineralized intersections, which occur
between 10 and 31 metres depth:
     -   0.157% U(3)O(8) over 0.70 metres in hole UEX-102 (section 2050E)
     -   0.134% U(3)O(8) over 1.39 metres in hole UEX-103 (section 2050E)
     -   0.720% U(3)O(8) over 0.76 metres in hole UEX-107 (section 2050E)
     -   0.135% U(3)O(8) over 1.50 metres in hole UEX-108 (section 2050E)
     -   0.150% U(3)O(8) over 0.50 metres in hole UEX-109 (section 2050E)
     -   0.105% U(3)O(8) over 1.26 metres in hole UEX-111 (section 2050E)
     -   0.195% U(3)O(8) over 0.50 metres in hole UEX-112 (section 2075E)
     -   0.107% U(3)O(8) over 0.50 metres in hole UEX-113 (section 2075E)
     -   0.206% U(3)O(8) over 0.69 metres in hole UEX-114 (section 2075E)
     -   0.503% U(3)O(8) over 1.00 metres in hole UEX-115 (section 2075E)
     -   0.360% U(3)O(8) over 2.00 metres in hole UEX-116 (section 2075E)
     -   0.670% U(3)O(8) over 3.05 metres in hole UEX-120 (section 2025E)
     -   0.166% U(3)O(8) over 0.50 metres in hole UEX-120 (section 2025E)
     -   0.173% U(3)O(8) over 0.60 metres in hole UEX-121 (section 2025E)
     -   0.139% U(3)O(8) over 0.66 metres in hole UEX-132 (section 2075E)
     -   0.144% U(3)O(8) over 0.60 metres in hole UEX-135 (section 2050E)
     -   0.389% U(3)O(8) over 0.60 metres in hole UEX-148 (section 2000E)
     -   0.295% U(3)O(8) over 1.34 metres in hole UEX-148 (section 2000E)
     -   0.126% U(3)O(8) over 2.40 metres in hole UEX-157 (section 1975E)
     -   0.139% U(3)O(8) over 0.85 metres in hole UEX-162 (section 1950E)
     -   0.173% U(3)O(8) over 0.50 metres in hole UEX-163 (section 1950E)
     -   0.329% U(3)O(8) over 1.04 metres in hole UEX-164 (section 1950E)
     -   0.421% U(3)O(8) over 2.55 metres in hole UEX-172 (section 2025E)
            including 1.146% U(3)O(8) over 0.86 metres
     -   0.329% U(3)O(8) over 0.91 metres in hole UEX-176 (section 2000E)
     -   0.283% U(3)O(8) over 0.50 metres in hole UEX-181 (section 2000E)
     In addition, infill drilling on two sections (1762.5E and 1787.5E) was
carried out in the high-grade core of the main deposit area between sections
1750E, 1775E and 1800E drilled by Cameco in 2005 in order to better define the
ore body geometry and uranium grades in this main deposit area. Uranium grades
in this high-grade core area were increased, with up to 6.032% U(3)O(8) over
10.67 metres in hole UEX-206 (see accompanying Section 1762.5E on UEX's
website) and 2.341% U(3)O(8) over 7.08 metres in hole UEX-197 (see
accompanying Section 1787.5E on UEX's website). Some of the most significant
intercepts, which occur between 10 and 31 metres depth, include the following:
     -   2.341% U(3)O(8) over 7.08 metres in hole UEX-197 (section 1787.5E)
            including 6.073% U(3)O(8) over 2.57 metres
     -   0.219% U(3)O(8) over 2.19 metres in hole UEX-197 (section 1787.5E)
     -   1.275% U(3)O(8) over 9.20 metres in hole UEX-198 (section 1787.5E)
            including 2.851% U(3)O(8) over 2.52 metres
     -   1.185% U(3)O(8) over 10.15 metres in hole UEX-199 (section 1787.5E)
            including 2.687% U(3)O(8) over 2.81 metres
     -   0.842% U(3)O(8) over 8.80 metres in hole UEX-200 (section 1787.5E)
            including 1.242% U(3)O(8) over 5.15 metres
     -   0.119% U(3)O(8) over 2.95 metres in hole UEX-201 (section 1787.5E)
     -   0.786% U(3)O(8) over 7.49 metres in hole UEX-205 (section 1762.5E)
            including 1.697% U(3)O(8) over 2.93 metres
     -   6.032% U(3)O(8) over 10.67 metres in hole UEX-206 (section 1762.5E)
            including 18.288% U(3)O(8) over 2.70 metres
            including 25.221% U(3)O(8) over 1.76 metres
     -   4.040% U(3)O(8) over 11.41 metres in hole UEX-207 (section 1762.5E)
            including 5.969% U(3)O(8) over 7.60 metres
     -   1.254% U(3)O(8) over 11.38 metres in hole UEX-208 (section 1762.5E)
            including 1.648% U(3)O(8) over 7.96 metres
     -   0.534% U(3)O(8) over 4.80 metres in hole UEX-209 (section 1762.5E)
            including 1.163% U(3)O(8) over 1.00 metres
     -   0.348% U(3)O(8) over 2.14 metres in hole UEX-210 (section 1762.5E)
     -   0.186% U(3)O(8) over 3.38 metres in hole UEX-211 (section 1762.5E)
            including 0.449% U(3)O(8) over 0.73 metres
     Full results are shown in Table 1 below. Only intervals with grades
greater than 0.05% U(3)O(8) and a grade-thickness product of greater than 0.05
are listed in Table 1.
     2007 West Bear Resource Estimate Report and Metallurgical Testing
     Golder has been engaged to calculate a new N.I. 43-101 compliant resource
estimate for West Bear by incorporating the drilling results from 2007.
Golder's resource estimate is expected to be delivered to UEX by September
2007.
     Melis Engineering Ltd. of Saskatoon, SK is currently overseeing a
confirmation metallurgical testing program using representative composites
derived from fresh drill core samples collected from the 2007 sonic drilling
program. The composites are currently being processed at SGS Lakefield
Research Ltd. of Lakefield, ON to confirm leach and effluent treatment
conditions on fresh samples of core.
     West Bear Environmental Baseline and Feasibility Studies
     Golder is carrying out an environmental baseline study ("EBS") and a
feasibility study for West Bear. The EBS has been underway at West Bear since
August 2005 and Golder continues to collect biological, hydrogeological and
other environmental data. Further baseline studies are scheduled for 2007
following the input of more detailed information on the project design
generated from the West Bear feasibility study.
     UEX looks forward to the completion of the feasibility study, which is
expected to be delivered in March 2008, following Golder's integration of the
results from UEX's 2007 sonic drilling program. The feasibility study will
examine the most efficient methods and procedures for extracting the defined
uranium resource, including the most appropriate road access and support
infrastructure, mining methods and operating plans. Golder is currently
carrying out mine, open pit slope, and waste dump design work. As the
feasibility study progresses, Golder will supervise the tendering of contracts
for all aspects of a potential mining operation, and will perform cash flow
analyses and projections in order to determine net present values and internal
rates of return for West Bear at various uranium price levels.
     Golder and UEX have created a Strategic Planning Group, consisting of key
representatives from both companies, in order to commence the permitting
process for West Bear in the Third Quarter of 2007. Following receipt of the
final EBS report from Golder, UEX plans to initiate the environmental
assessment ("EA") process with the appropriate government agencies on both
provincial and federal levels. The first step in the provincial EA process is
to provide a Project Proposal to the Saskatchewan EA Branch that details the
project description (e.g., mine plan, mining method, water and waste
management), current environmental conditions, proposed measures to mitigate
environmental issues, and residual effects from the project. After review of
this document, the EA Branch will decide if the project meets the definition
of a "development", in which case, an Environmental Impact Statement ("EIS")
will be required and various provincial and federal responsible authorities
will be identified to take part in the review of the EIS. The Strategic
Planning Group will also initiate the community and public consultation
process in 2007.
     About West Bear
     West Bear uranium mineralization occurs at a vertical depth of between 10
and 31 metres (or approximately 33 to 100 feet) from surface and is one of the
shallowest, undeveloped uranium deposits in the prolific Athabasca Basin.
Combined with the relatively soft nature of the host rocks and overburden, UEX
believes that the deposit could be mined using low cost, open pit techniques
within a very short timeframe. The deposit is located close to two existing
uranium mills, Cameco Corporation's Rabbit Lake Mill and the McClean Lake
Mill, operated by AREVA Resources Canada Inc. ("AREVA"). UEX believes that at
current uranium prices, the West Bear Deposit could become a viable source of
future cash flow.
     Sample Handling and Quality Assurance
     Geochemical samples are selected with the aid of hand-held scintillometer
to identify areas of above-background radioactivity. Samples are split, with
half remaining in the core box, and the remainder shipped to Saskatchewan
Research Council ("SRC") Geoanalytical Laboratories where they are crushed and
ground to minus 106 microns. The pulp is digested in aqua regia leach and
analyzed by ICP for uranium and other elements. Check samples have been
submitted to SRC's Analytical Laboratory (a separate facility) for uranium
analysis using the delayed neutron activation technique to confirm the
accuracy of the original analysis. In addition to the geochemical analyses,
down-hole probe radiometric results, obtained for all sonic drill holes on
completion of drilling, provide an independent check of the geochemical data.
Probe results can be used for uranium grade calculations where poor ground
conditions occur and core recoveries are low, although the sonic drilling
method at West Bear produced core recoveries at, or close to, 100%.
     The core lengths of the individual mineralized intersections are believed
to be indicative of the true thicknesses of the mineralized zones, as the
deposit is flat lying, and in the shape of a ribbon. All sonic drill holes
were drilled at -90 degrees (vertical).
     The information in this document has been compiled and reviewed by Sierd
Eriks, P. Geo., a qualified person as defined by National Instrument 43-101.
     About UEX
     UEX is a Canadian uranium exploration and development company actively
involved in 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
386,650 hectares (955,400 acres), are located in the eastern, western and
northern perimeters of the Athabasca Basin, the world's richest uranium belt,
which accounts for approximately 30% of the global primary uranium production.
UEX is currently developing several uranium deposits in the Athabasca Basin
which include the Anne and Kianna Deposits at its Shea Creek Uranium Project,
a joint venture with AREVA in the Western Athabasca Basin, and the West Bear,
Raven and Horseshoe deposits located at its 100% owned Hidden Bay Project in
the eastern Athabasca Basin. UEX's exploration and development budgets for
2007 total $28.0 million, and the Company has a cash position of approximately
$67.0 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.
                                    Table 1.
            West Bear Deposit - 2007 Winter Sonic Drilling Program
         Mineralized Intersections from Drill Holes UEX-102 to UEX-214
      Only intervals with composite grades greater than 0.05% U(3)O(8) and
       a grade-thickness product greater than 0.05 are listed below. All
                    analyses were performed by SRC by ICP.
     -------------------------------------------------------------------------
                                                                       Grade-
                                                                       Thick-
     Hole       West Bear Grid       Hole   From    To  Length  U3O8    ness
                  Coordinates       Length   (m)    (m)   (m)   (wt%)  Product
                                      (m)                             (m%U3O8)
              East-   North- Eleva-
               ing     ing    tion
     -------------------------------------------------------------------------
     UEX-102  2050.0  1495.0  410.5  35.05  19.10  19.80  0.70  0.157   0.110
     -------------------------------------------------------------------------
     UEX-103  2050.0  1490.0  410.5  32.00  19.81  21.20  1.39  0.134   0.186
     -------------------------------------------------------------------------
     UEX-104  2050.0  1485.0  410.5  32.00  22.04  22.86  0.82  0.066   0.054
     -------------------------------------------------------------------------
     UEX-105  2050.0  1480.0  410.5  32.00  22.86  24.38  1.52  0.054   0.083
     -------------------------------------------------------------------------
     UEX-106  2050.0  1475.0  410.5  32.00  21.83  23.86  2.03  0.049   0.099
                                    includ-
                                       ing  21.83  22.86  1.03  0.058   0.060
     -------------------------------------------------------------------------
     UEX-107  2050.0  1470.0  410.5  35.05  22.10  22.86  0.76  0.720   0.547
     -------------------------------------------------------------------------
     UEX-108  2050.0  1465.0  410.5  32.00  21.51  23.01  1.50  0.135   0.202
     -------------------------------------------------------------------------
     UEX-109  2050.0  1460.0  410.6  33.53  24.38  24.88  0.50  0.150   0.075
     -------------------------------------------------------------------------
     UEX-111  2050.0  1450.0  410.6  28.96  22.86  24.12  1.26  0.105   0.132
     -------------------------------------------------------------------------
     UEX-112  2075.0  1505.0  410.5  32.00  25.38  25.88  0.50  0.195   0.097
     -------------------------------------------------------------------------
     UEX-113  2075.0  1500.0  410.5  30.48  16.67  18.17  1.50  0.074   0.111
                                            19.67  20.17  0.50  0.107   0.054
     -------------------------------------------------------------------------
     UEX-114  2075.0  1495.0  410.5  32.00  19.81  20.50  0.69  0.206   0.142
     -------------------------------------------------------------------------
     UEX-115  2075.0  1490.0  410.5  33.53  19.81  20.81  1.00  0.503   0.503
     -------------------------------------------------------------------------
     UEX-116  2075.0  1485.0  410.5  32.00  23.25  25.25  2.00  0.360   0.720
     -------------------------------------------------------------------------
     UEX-120  2025.0  1495.0  410.6  32.00  16.76  19.81  3.05  0.670   2.043
                                            24.36  24.86  0.50  0.166   0.083
     -------------------------------------------------------------------------
     UEX-121  2025.0  1490.0  410.6  32.00  24.95  25.55  0.60  0.173   0.104
     -------------------------------------------------------------------------
     UEX-129  2100.0  1505.0  410.4  35.05  24.38  25.95  1.57  0.078   0.123
     -------------------------------------------------------------------------
     UEX-132  2075.0  1510.0  410.6  28.96  22.20  22.86  0.66  0.139   0.092
                                            23.27  24.17  0.90  0.083   0.075
     -------------------------------------------------------------------------
     UEX-135  2050.0  1500.0  410.5  28.96  18.02  18.65  0.63  0.062   0.039
                                            19.95  20.55  0.60  0.144   0.086
     -------------------------------------------------------------------------
     UEX-137  2050.0  1510.0  410.4  32.00  19.81  20.40  0.59  0.097   0.057
                                            22.86  24.35  1.49  0.081   0.121
     -------------------------------------------------------------------------
     UEX-148  2000.0  1495.0  410.6  28.96  16.76  17.36  0.60  0.389   0.233
                                            17.86  19.20  1.34  0.295   0.396
     -------------------------------------------------------------------------
     UEX-153  1975.0  1485.0  410.6  28.96  20.19  20.59  0.40  0.066   0.026
                                            21.34  22.34  1.00  0.070   0.070
     -------------------------------------------------------------------------
     UEX-157  1975.0  1505.0  410.6  35.05  23.25  25.65  2.40  0.126   0.303
     -------------------------------------------------------------------------
     UEX-162  1950.0  1490.0  410.6  28.96  21.34  22.19  0.85  0.139   0.118
     -------------------------------------------------------------------------
     UEX-163  1950.0  1485.0  410.6  28.96  23.50  24.00  0.50  0.173   0.087
     -------------------------------------------------------------------------
     UEX-164  1950.0  1480.0  410.6  28.96  21.82  22.86  1.04  0.329   0.342
     -------------------------------------------------------------------------
     UEX-172  2025.0  1460.0  410.6  30.48  20.31  22.86  2.55  0.421   1.073
                                    includ-
                                       ing  20.31  21.15  0.84  0.063   0.053
                                    includ-
                                       ing  22.00  22.86  0.86  1.146   0.985
     -------------------------------------------------------------------------
     UEX-176  2000.0  1440.0  410.7  33.53  28.05  28.96  0.91  0.329   0.300
     -------------------------------------------------------------------------
     UEX-181  2000.0  1465.0  410.6  32.00  24.10  24.60  0.50  0.283   0.141
     -------------------------------------------------------------------------
     UEX-187  1900.0  1495.0  410.7  30.48  17.60  26.05  8.45  0.090   0.757
                                    includ-
                                       ing  17.60  21.86  4.26  0.079   0.337
                                    includ-
                                       ing  22.86  23.80  0.94  0.093   0.087
                                    includ-
                                       ing  24.90  26.05  1.15  0.236   0.272
     -------------------------------------------------------------------------
     UEX-197  1787.5  1515.0  411.3  32.00  17.80  24.88  7.08  2.341  16.571
                                    includ-
                                       ing  18.29  20.86  2.57  6.073  15.609
                                            28.96  31.15  2.19  0.219   0.480
     -------------------------------------------------------------------------
     UEX-198  1787.5  1510.0  411.4  30.48  13.25  22.45  9.20  1.275  11.734
                                    includ-
                                       ing  16.76  19.28  2.52  2.851   7.185
     -------------------------------------------------------------------------
     UEX-199  1787.5  1505.0  411.4  30.48  12.45  22.60 10.15  1.185  12.031
                                    includ-
                                       ing  17.50  20.31  2.81  2.688   7.553
     -------------------------------------------------------------------------
     UEX-200  1787.5  1500.0  411.5  30.48  14.00  22.80  8.80  0.842   7.409
                                    includ-
                                       ing  15.45  20.60 5.150  1.242   6.396
     -------------------------------------------------------------------------
     UEX-201  1787.5  1495.0  411.9  25.91  20.00  22.95  2.95  0.119   0.351
     -------------------------------------------------------------------------
     UEX-202  1787.5  1490.0  412.0  25.91  18.61  23.50 4.890  0.059   0.290
     -------------------------------------------------------------------------
     UEX-205  1762.5  1510.0  411.7  30.48  18.29  25.78  7.49  0.786   5.889
                                    includ-
                                       ing  21.07  24.00  2.93  1.697   4.971
     -------------------------------------------------------------------------
     UEX-206  1762.5  1505.0  411.6  33.53  16.76  27.43 10.67  6.032  64.365
                                    Includ-
                                       ing  21.10  23.80  2.70 18.288  49.378
                                    includ-
                                       ing  21.10  22.86  1.76 25.221  44.389
     -------------------------------------------------------------------------
     UEX-207  1762.5  1500.0  411.6  30.48  14.50  25.91 11.41  4.040  46.097
                                    includ-
                                       ing  16.40  24.00  7.60  5.969  45.361
                                            29.50  30.48  0.98  0.366   0.359
     -------------------------------------------------------------------------
     UEX-208  1762.5  1495.0  411.6  32.00  10.67  12.00  1.33  0.323   0.430
                                            13.72  25.10 11.38  1.254  14.269
                                    includ-
                                       ing  14.90  22.86 7.960  1.648  13.115
     -------------------------------------------------------------------------
     UEX-209  1762.5  1490.0  411.5  28.96  17.65  22.45  4.80  0.534   2.563
                                    includ-
                                       ing  20.95  21.95 1.000  1.163   1.162
     -------------------------------------------------------------------------
     UEX-210  1762.5  1485.0  411.5  28.96  22.86  25.00  2.14  0.348   0.746
     -------------------------------------------------------------------------
     UEX-211  1762.5  1480.0  411.5  27.43  22.53  25.91 3.380  0.186   0.628
                                    includ-
                                       ing  25.18  25.91  0.73  0.449   0.328
     -------------------------------------------------------------------------
     UEX-214  2125.0  1510.0  410.3  32.00  20.30  20.80  0.50  0.130   0.065
     -------------------------------------------------------------------------
                                    Table 2.
            West Bear Deposit - 2007 Winter Sonic Drilling Program
         Mineralized Intersections from Drill Holes UEX-102 to UEX-214
        Only intervals with composite grades lower than 0.05% U(3)O(8) and
        a grade-thickness product lower than 0.05 are listed below. All
                    analyses were performed by SRC by ICP.
     -------------------------------------------------------------------------
                                                                       Grade-
                                                                       Thick-
     Hole         West Bear Grid     Hole   From    To  Length  U3O8    ness
                    Coordinates     Length   (m)    (m)   (m)   (wt%)  Product
                                      (m)                             (m%U3O8)
              East-   North- Eleva-
               ing     ing    tion
     -------------------------------------------------------------------------
     UEX-118  2075.0  1475.0  410.6  35.05  30.11  30.48  0.37  0.076   0.028
     -------------------------------------------------------------------------
     UEX-128  2100.0  1510.0  410.5  35.05  23.86  24.38  0.52  0.077   0.040
                                            24.93  25.03  0.10  0.090   0.009
     -------------------------------------------------------------------------
     UEX-136  2050.0  1505.0  410.5  36.58  22.90  23.10  0.20  0.237   0.047
                                            27.60  28.10  0.50  0.056   0.028
     -------------------------------------------------------------------------
     UEX-147  2000.0  1500.0  410.6  28.96  16.76  17.29  0.53  0.061   0.032
     -------------------------------------------------------------------------
     UEX-149  2000.0  1490.0  410.6  27.43  19.47  19.81  0.34  0.053   0.018
     -------------------------------------------------------------------------
     UEX-160  1950.0  1500.0  410.7  28.96  23.94  24.44  0.50  0.066   0.033
     -------------------------------------------------------------------------
     UEX-166  1950.0  1470.0  410.6  28.96  23.63  24.00  0.37  0.087   0.032
     -------------------------------------------------------------------------
                                    Table 3.
            West Bear Deposit - 2007 Winter Sonic Drilling Program
            Unmineralized Holes from Drill Holes UEX-102 to UEX-214
     ---------------------------------------------------------
     Hole            West Bear Grid Coordinates         Hole
                                                       Length
                                                         (m)
     --------                                         --------
                  Easting    Northing   Elevation
     ---------------------------------------------------------
     UEX-110       2050.0      1455.0       410.6       30.48
     ---------------------------------------------------------
     UEX-117       2075.0      1480.0       410.5       32.00
     ---------------------------------------------------------
     UEX-119       2075.0      1470.0       410.6       32.00
     ---------------------------------------------------------
     UEX-122       2025.0      1485.0       410.5       32.00
     ---------------------------------------------------------
     UEX-123       2025.0      1480.0       410.6       32.00
     ---------------------------------------------------------
     UEX-124       2025.0      1475.0       410.5       32.00
     ---------------------------------------------------------
     UEX-125       2100.0      1525.0       410.5       35.05
     ---------------------------------------------------------
     UEX-126       2100.0      1520.0       410.5       35.05
     ---------------------------------------------------------
     UEX-127       2100.0      1515.0       410.5       32.00
     ---------------------------------------------------------
     UEX-130       2100.0      1500.0       410.6       28.96
     ---------------------------------------------------------
     UEX-131       2100.0      1495.0       410.6       28.96
     ---------------------------------------------------------
     UEX-133       2075.0      1515.0       410.5       28.96
     ---------------------------------------------------------
     UEX-134       2075.0      1520.0       410.5       28.96
     ---------------------------------------------------------
     UEX-138       2050.0      1515.0       410.5       28.96
     ---------------------------------------------------------
     UEX-139       2050.0      1520.0       410.5       28.96
     ---------------------------------------------------------
     UEX-140       2025.0      1500.0       410.5       28.96
     ---------------------------------------------------------
     UEX-141       2025.0      1505.0       410.5       28.96
     ---------------------------------------------------------
     UEX-142       2025.0      1510.0       410.6       28.96
     ---------------------------------------------------------
     UEX-143       2025.0      1515.0       410.6       28.96
     ---------------------------------------------------------
     UEX-144       2000.0      1515.0       410.5       28.96
     ---------------------------------------------------------
     UEX-145       2000.0      1510.0       410.5       28.96
     ---------------------------------------------------------
     UEX-146       2000.0      1505.0       410.5       28.96
     ---------------------------------------------------------
     UEX-150       2000.0      1485.0       410.6       25.91
     ---------------------------------------------------------
     UEX-151       2000.0      1480.0       410.6       27.43
     ---------------------------------------------------------
     UEX-152       1975.0      1480.0       410.6       27.43
     ---------------------------------------------------------
     UEX-154       1975.0      1490.0       410.6       25.91
     ---------------------------------------------------------
     UEX-155       1975.0      1495.0       410.6       25.91
     ---------------------------------------------------------
     UEX-156       1975.0      1500.0       410.6       28.96
     ---------------------------------------------------------
     UEX-158       1975.0      1510.0       410.6       28.96
     ---------------------------------------------------------
     UEX-159       1975.0      1515.0       410.5       25.91
     ---------------------------------------------------------
     UEX-161       1950.0      1495.0       410.6       25.91
     ---------------------------------------------------------
     UEX-165       1950.0      1475.0       410.6       28.96
     ---------------------------------------------------------
     UEX-167       1950.0      1465.0       410.6       28.96
     ---------------------------------------------------------
     UEX-168       1950.0      1460.0       410.6       25.91
     ---------------------------------------------------------
     UEX-169       2050.0      1445.0       410.7       30.48
     ---------------------------------------------------------
     UEX-170       2050.0      1440.0       410.6       28.96
     ---------------------------------------------------------
     UEX-171       2025.0      1455.0       410.6       28.96
     ---------------------------------------------------------
     UEX-173       2025.0      1465.0       410.6       28.96
     ---------------------------------------------------------
     UEX-174       2025.0      1470.0       410.6       28.96
     ---------------------------------------------------------
     UEX-175       2025.0      1450.0       410.6       28.96
     ---------------------------------------------------------
     UEX-177       2000.0      1445.0       410.6       30.48
     ---------------------------------------------------------
     UEX-178       2000.0      1450.0       410.6       30.48
     ---------------------------------------------------------
     UEX-179       2000.0      1455.0       410.6       28.96
     ---------------------------------------------------------
     UEX-180       2000.0      1460.0       410.6       28.96
     ---------------------------------------------------------
     UEX-182       2000.0      1470.0       410.6       28.96
     ---------------------------------------------------------
     UEX-183       2000.0      1475.0       410.6       27.43
     ---------------------------------------------------------
     UEX-184       2000.0      1435.0       410.7       28.96
     ---------------------------------------------------------
     UEX-185       1925.0      1490.0       410.6       28.96
     ---------------------------------------------------------
     UEX-186       1925.0      1485.0       410.6       27.43
     ---------------------------------------------------------
     UEX-188       1875.0      1530.0       410.8       27.43
     ---------------------------------------------------------
     UEX-189       1875.0      1535.0       410.7       27.43
     ---------------------------------------------------------
     UEX-190       1837.5      1530.0       410.9       25.91
     ---------------------------------------------------------
     UEX-191       1837.5      1535.0       411.0       24.38
     ---------------------------------------------------------
     UEX-192       1850.0      1530.0       411.0       27.43
     ---------------------------------------------------------
     UEX-193       1800.0      1525.0       411.2       25.91
     ---------------------------------------------------------
     UEX-194       1775.0      1525.0       411.8       28.96
     ---------------------------------------------------------
     UEX-195       1787.5      1525.0       411.4       30.48
     ---------------------------------------------------------
     UEX-196       1787.5      1520.0       411.3       30.48
     ---------------------------------------------------------
     UEX-203       1762.5      1520.0       412.1       28.96
     ---------------------------------------------------------
     UEX-204       1762.5      1515.0       411.9       28.96
     ---------------------------------------------------------
     UEX-212       1762.5      1475.0       411.5       28.96
     ---------------------------------------------------------
     UEX-213       2125.0      1515.0       410.2       32.00
     ---------------------------------------------------------
     The core lengths of the individual mineralized intersections are believed
to be indicative of the true thicknesses of the mineralized zones, as the
deposit is flat lying, and in the shape of a ribbon. All sonic drill holes
were drilled at -90 degrees (vertical).
     %SEDAR: 00017609E
For further information: UEX CORPORATION, SUITE 1007 - 808 NELSON STREET,
VANCOUVER, B.C., CANADA, V6Z 2H2, PH: (604) 669-2349, FAX (604) 669-1240,
Website: www.uex-corporation.com, email: 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$ 49.5 millions as of today (US$ 37.3 millions, € 33.7 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
6/4/2013(Shea Creek)Announces Additional $2.0 Million Drilling Budget for Shea C...
4/10/2013(Shea Creek)Secures Right to Fund $18 Million in Additional Drilling at ...
3/20/2013(Shea Creek)/AREVA Announce $3.1 Million Budget for Shea Creek Spring/Su...
2/13/2013(Black Lake)Regarding Uracan's Option for Black Lake Project in the Atha...
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
11/15/2012(Shea Creek)/AREVA Expands New Kianna East Basement Zone at Shea Creek. ...
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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TORONTO (UEX.TO)FRANKFURT (UXO.F)
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TORONTO
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318,750 10.71%
24hGold TrendPower© : 44
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