U3O8 Corp. appoints John Ross as Chief Financial Officer
Toronto, Ontario ? June 4, 2010 ? U3O8 Corp. (TSX Venture: UWE), a Canadian-based company focused on uranium exploration and resource expansion in South America, is pleased to announce the appointment of John Ross as Chief Financial Officer, effective June 4.
John is a Chartered Accountant with over 25 years of experience in the financial management of Canadian publicly listed exploration and mining companies operating in South America, Africa and Canada. Previously, he served as Chief Financial Officer of Colossus Minerals Inc. (an advanced explorer in Brazil), Cronus Resources Ltd. (a gold explorer in Mexico, recently amalgamated with Continental Gold Limited), FNX Mining Company (a nickel and precious metal producer in the Sudbury Basin), and IAMGold Corp. (a gold producer with operations in Africa and exploration in Ecuador, Brazil and Argentina). John started his career in the mining industry at Rio Algom Limited. John was instrumental in FNX Mining?s transition from an exploration to a development company and he contributed to IAMGold?s development into an intermediate gold producer. He also implemented IAMGold?s decision to convert its cash to gold immediately prior to the sustained increase in the gold price.
U3O8 Corp. wishes to thank Carmelo Marrelli for his contribution as Chief Financial Officer and helping the company progress from inception to become a leading, advanced exploration company.
In association with Mr. Ross? appointment, 150,000 stock options have been granted pursuant to the company?s stock option plan at an exercise price of $0.24 per share and will expire on June 3, 2015.
About U3O8 Corp.
U3O8 Corp. is a Toronto-based exploration company, focused on uranium exploration and resource expansion in South America ? a promising new frontier for uranium exploration and development. U3O8 Corp. has one of the most advanced portfolios of uranium projects in the region comprising NI 43-101 compliant resources in Guyana to significant historic resources in Colombia and near-resource and discovery potential in Argentina.
Additional information on U3O8 Corp. is available on the company?s web site at www.u3o8corp.com.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of U3O8 Corp., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For information, please contact:
U3O8 Corp.
(416) 868-1491
Nancy Chan-Palmateer Richard Spencer
Vice President, Investor Relations President & CEO
nancy@u3o8corp.com richard@u3o8corp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.