U3O8 Corp. Announces $1 Million Private Placement

TORONTO, ONTARIO--(Marketwired - Feb. 13, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR U.S. NEWSWIRES

U3O8 Corp. (TSX:UWE)(OTCQX:UWEFF), a Canadian-based company focused on exploration and development of uranium resources and associated commodities in South America, announces a non-brokered private placement of up to 7,692,307 units (the "Units") at a price of $0.13 per Unit for total gross proceeds of up to approximately $1.0 million (the "Offering"). Insiders, who are among U3O8 Corp's largest shareholders, intend to participate, directly or indirectly, in the Offering.

Each Unit shall consist of one common share of U3O8 Corp. ("Share") and one share purchase warrant ("Warrant"). Each Warrant shall entitle the holder to purchase one Share at a price of $0.18 for a period of 24 months from the closing date.

The securities issued and issuable pursuant to the Offering will be subject to a 4-month hold period. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

The net proceeds will be used to advance U3O8 Corp's Laguna Salada Deposit in Argentina as a potential low-cost, near-term uranium producer including refining the beneficiation process, completing the preliminary economic assessment (PEA) and finalizing the definitive agreement to joint venture with Petromineras Chubut S.E., Chubut's provincial resource company, as well as for exploration projects in Colombia and Guyana, and for general corporate purposes.

About U3O8 Corp.

U3O8 Corp. is focused on exploration and development of uranium resources and associated commodities in South America. The company's uranium resources comprise three deposits defined in accordance with National Instrument 43-101 located in Colombia, Argentina and Guyana:

• Berlin Deposit, Colombia - a recent PEA shows that Berlin could be a zero cash cost uranium producer thanks to revenue from by-products of phosphate, vanadium, nickel, rare earths (yttrium and neodymium) and other metals occurring in the same deposit;
• Laguna Salada Deposit, Argentina - a near surface, free-digging uranium, vanadium deposit that is potentially amenable to low-cost mining and processing methods; and
• Kurupung Deposit, Guyana - an initial uranium deposit in a large emerging uranium district.

Additional information on U3O8 Corp., its mineral resources and technical reports are available at www.u3o8corp.com. Follow U3O8 Corp. on Facebook: www.facebook.com/u3o8corp, Twitter: www.twitter.com/u3o8corp and Youtube: www.youtube.com/u3o8corp.