UEX:TSX

UEX Corp.

UEX Corporation has the largest known resources of uranium held by any junior exploration company operating in the Athabasca Basin, a politically stable, mining-friendly jurisdiction that contains the highest-grade uranium deposits in the world. The company's two advanced projects in the region contain approximately 86 Mlb U3O8. UEX was formed in 2002 and maintains strategic relationships with Cameco Corp. and AREVA group.

Expert Comments:

Haywood Securities (4/24/15)
"UEX Corp. announced on Wednesday that it has entered into an agreement with a group of agents who will, on a best-efforts private-placement basis, offer flow-through UEX shares at a price of CA$0.30 per share for gross proceeds of CA$2.5M. . .to fund the company's exploration efforts."

David Sadowski, Raymond James (4/10/15)
"UEX Corp. announced results from 22 holes drilled at Wolf Lake on its 100%-owned Hidden Bay project, near Cameco's operating Rabbit Lake mine on the east side of the Athabasca Basin. Two holes cut an encouraging radioactive fault, suggesting exploration could be vectoring toward a wider zone within basement rocks whose mineralized potential was previously overlooked. We view the winter program, which is now complete, as being a successful first pass, and we are excited about follow-up drilling at Wolf and Dwyer to commence next winter."

"UEX Corp. has a couple of world-class projects in the Athabasca Basin. . .the company's Shea Creek project has a 96 Mlb U3O8 resource. UEX owns 49% of Shea Creek. It also owns 39 Mlb at its Hidden Bay project. . .the company historically trades well on positive exploration news, and that could still be the case going forward. There is brownfield exploration underway at Hidden Bay, close to Cameco's Rabbit Lake mill. There has been significant work on this property in the past, but it has not yet been tested for the type of basement deposits that keep extending the life of the Eagle Point Mine. UEX's CEO, Roger Lemaitre, helped discover much of the basement mineralization at Eagle Point when he was with Cameco. At Hidden Bay, almost all previous exploration was focused on the upper deposits, and the basement rocks were ignored. Roger is trying to change that." read more >

David Sadowski, Raymond James (3/30/15)
"UEX Corp. is wrapping up a phase 1 regional exploration campaign designed to follow up on historic drilling, which may have overlooked basement-hosted mineralized potential. Early results have been positive, warrant further follow-up and suggest the company could be vectoring toward a shallow discovery; we are particularly excited about the Dwyer Lake target, where a large fluid/alteration system is clearly evident."

David Sadowski, Raymond James (2/26/15)
"UEX Corp. released initial drill results from the ongoing winter exploration program at its 100%-owned Hidden Bay uranium project. . .results suggest strong hydrothermal and fault systems, key 'ingredients' of Athabasca basin uranium deposits, are present at the Dwyer Lake target. We look forward to additional results in the coming weeks and encourage investors to build positions on strong discovery potential within close proximity to some of the world's best mill infrastructure."

"UEX Corp. has gotten beaten up alongside its uranium peers. While there's been renewed fascination with Athabasca Basin explorers, we think the realization among investors that not all high-grade pounds are created equal has weighed on the company. To be specific, companies like Fission Uranium have benefited from defining near-surface, high-grade pounds, whereas UEX, with its massive Shea Creek resource just down the road from Fission, trades at pennies on the dollar by comparison. We don't think it's fair. Although UEX is deeper and not entirely hosted in stable basement rock, it's a great call option on higher uranium prices. It's the third biggest, undeveloped asset in the basin after Fission's Triple R resource and Cameco's Millennium project. We also think the market is undervaluing the potential at Hidden Bay on the east side of the basin. . .the key thing is success on the upcoming program at Hidden Bay, located on the infrastructure-rich east side of the basin within a stone's throw from Cameco's underutilized Rabbit Lake mill. . ." read more >

Management Q&A: View From the Top
After losing half of its value, the spot price of uranium has in recent weeks risen from less than $30 per pound to $42 per pound. Roger Lemaitre, President and CEO of UEX Corp., is pleased but not surprised, and explains how UEX's substantial resources in Saskatchewan's Athabasca Basin have primed the company to move forward.
read more >

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