U3O8 Corp. Announces that David Marsh, a Metallurgist with Extensive Experience in the Design, Construction and Operation of Uranium Extraction Plants, is to Stand for Election as a Director
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Toronto, ON M5H 2Y4 TSX: UWE
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Press release
U3O8 Corp. Announces that David Marsh, a Metallurgist with Extensive Experience in the
Design, Construction and Operation of Uranium Extraction Plants, is to Stand for
Election as a Director
Toronto, Ontario – May 25 th, 2017 – U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.” or the
“Company”) announces that Mr David Marsh has agreed to stand for election as a director of the
Company at its Annual and Special Meeting sche duled to be held at 11am on Thursday June 22 at 20
Toronto Street, Second Floor, Toronto, Ontario M5C 2B8.
“I am delighted that David is standing for election as a director of the Company,” said Mr David
Constable, Chairman of U3O8 Corp. “David’s specific experience with the design and construction of the
processing plant for Paladin Energy’s Langer Heinrich uranium deposit will be invaluable as U3O8 Corp.
undertakes pilot plant test work in preparation fo r a feasibility study at its Laguna Salada Deposit in
Argentina. David’s experience with the processing and extraction of rare earth elements and other metals
from multi-commodity ore, will also be key to advanci ng U3O8 Corp.’s Berlin Deposit. I would also like to
thank Darin Milmeister, who offered not to stand for re-election so as to make his seat on the board
available for David Marsh, for his counsel and guidance over the last year.”
David Marsh commented: “I had begun to think that the extensive design and operational experience that
I gained from many years’ involvement with the dev elopment and implementation of the alkaline leach
plant for Paladin Energy at Langer Heinrich would be a one-off in my career. By becoming a director of
U3O8 Corp. I have an opportunity to bring that ex perience to the advancement of the Laguna Salada
Deposit that shares so many characteristics with Lan ger Heinrich. This comes at a time that Argentina is
accelerating its adoption of nuclear to generate clean, base-load power.”
Last week, an agreement was signed fo r the construction of Argentina’s 4th and 5 th large nuclear power
plants which will more than double Argentina’s uranium requirement from the current 0.5 million pounds
(“Mlbs”) to 1.1Mlbs per year. The Secretariat of Mines in Argentina lists U3O8 Corp.’s Laguna Salada
Deposit, along with the State’s Cerro Solo and past-producing Sierra Pintada deposits, as well as Ur-
America’s Meseta Central project, as potential local sources of uranium.
Argentina is reported to have imported approximately 0. 23Mlbs of uranium in 2016 at an average price of
US$58 per pound. This price excludes insurance and transport of the uranium to Argentina.
The 4 th nuclear plant will be of Canadian Candu design, a 700 megawatt (“MW”) reactor, on which
construction is planned to start in early 2018. The 5 th reactor will be a 1,150MW Hualong One plant, on
which construction is scheduled to commence in 2020. The budget for the construction of the two plants
is US$14 billion, 85% of which is to be funded by Chinese entities.
Uranium Extraction Experience: Mr Marsh was involved with initial test work and development of
alkaline leach – a new technology at that time – for the treatment of ore from the Langer Heinrich uranium
deposit at GRD Minproc. He subsequently joined Paladin Energy to manage the team responsible for the
implementation of this new technology, including pl ant design and optimization, at the Langer Heinrich
Mine. Alkaline leach is the technology that current test work shows to be most appropriate for the
extraction of uranium and vanadium from U3O8 Corp.’s Laguna Salada Deposit in Argentina.
Mr Marsh was also responsible for the test work, flow sheet design and optimization of the acid leach
processing facility at Paladin Energy ’s Kayelekera uranium deposit. At Paladin Energy, Mr Marsh also
led the team that developed the flow sheet for the scoping study of the Valhalla Uranium Deposit, which is
of the same type as U3O8 Corp.’s Kurupung Deposit in Guyana.
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Experience with Multi-Commodity Deposits: Mr Marsh has extensive experience in the extraction of
metals from multi-commodity deposits including plat inum group metals, base metals, lithium and rare
earth elements. He is currently serving as S enior Vice President – Metallurgy and Technology
Development for Avalon Advanced Materials Inc. wh ere his focus is on the extraction of rare earth
elements, lithium and tin-copper-zinc from three different deposits. After developing extraction
technologies for each deposit, he has led teams that optimized flow sheets for incorporation in economic
studies of the deposits. Mr Marsh’s experience w ill be invaluable in the further refinement of the
extraction process for U3O8 Corp.’s Berlin Deposit that contains uranium, phosphate, vanadium, nickel
and rare earth elements, and on the past-producing uranium-cobalt-nickel mines that U3O8 Corp. has
recently staked in Argentina.
Technical Information
Dr. Richard Spencer, P.Geo., CGeol., President and CEO of U3O8 Corp. and a Qualified Person as
defined by National Instrument 43-101, has approved the technical information in this news release
relating to the Laguna Salada Deposit and the related PEA.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and developm ent of deposits of uranium and associated
commodities in South America. Potential by-products from uranium production include commodities used
in the energy storage industry – in the manufacture of batteries - such as nickel, vanadium and
phosphate. The Company’s mineral resources estimates were made in accordance with National
Instrument 43-101, and are contained in three deposits:
Laguna Salada Deposit, Argentina – a PEA shows this near surf ace, free-digging uranium -
vanadium deposit has low production-cost potential;
Berlin Deposit, Colombia – a PEA shows that Berlin also has low-cost uranium production potential
due to revenue that would be generated from by-products of phosphate, vanadium, nickel, rare earths
(yttrium and neodymium) and other metals that occur within the deposit; and
Kurupung Deposit, Guyana – a uranium resource has been estimated in four veins within a
uranium-zirconium vein system. Resources have been estimated on four veins, while consistent
mineralization of the same type has been intersected in scout drilling of an additional six veins, while
yet other veins require first-time exploration drilling.
Information on U3O8 Corp., its resources and technical reports are available at www.u3o8corp.com and
on SEDAR at www.sedar.com. Follow U3O8 Corp. on Facebook: www.facebook.com/u3o8corp, Twitter:
www.twitter.com/u3o8corp and YouTube: www.youtube.com/u3o8corp.
Forward-Looking Statements
This news release includes certain “forward lookin g statements” related with the development plans,
economic potential and growth targets of U3O8 Corp ’s projects. Forward-looking statements consist of
statements that are not purely historical, including st atements regarding beliefs, plans, expectations or
intensions for the future, and include, but not limited to, statements with respect to: (a) the low-cost and
near-term development of Laguna Salada, (b) the Laguna Salada and Berlin PEAs, (c) the potential of the
Kurupung district in Guyana, (d) impact of the U- pgradeTM process on expected capital and operating
expenditures, and (e) the price and market for uranium. These statements are based on assumptions,
including that: (i) actual results of our exploration, re source goals, metallurgical testing, economic studies
and development activities will continue to be posit ive and proceed as planned, and assumptions in the
Laguna Salada and Berlin PEAs prove to be accurate, (ii) a joint venture will be formed with the provincial
petroleum and mining company on the Argentina proj ect, (iii) requisite regulatory and governmental
approvals will be received on a timely basis on terms acceptable to U3O8 Corp., (iv) economic, political
and industry market conditions will be favourable, a nd (v) financial markets and the market for uranium
will improve for junior resource companies in the sh ort-term. Such statements are subject to risks and
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uncertainties that may cause actual results, perform ance or developments to differ materially from those
contained in such statements, including, but not limited to: (1) changes in general economic and financial
market conditions, (2) changes in demand and prices for minerals, (3) the Company’s ability to establish
appropriate joint venture partnerships, (4) litigation, regulatory, and legislative developments, dependence
on regulatory approvals, and changes in environmental compliance requirements, community support and
the political and economic climate, (5) the inherent uncertainties and speculative nature associated with
exploration results, resource estimates, potential re source growth, fu ture metallurgical test results,
changes in project parameters as pl ans evolve, (6) competitive developm ents, (7) availability of future
financing, (8) exploration risks, and other factor s beyond the control of U3O8 Corp. including those
factors set out in the “Risk Factors” in our Annual Information Form available on SEDAR at
www.sedar.com. 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 forw ard-looking statements. U3O8 Corp. assumes no
obligation to update such information, except as ma y be required by law. For more information on the
above-noted PEAs, refer to the S eptember 18, 2014 techni cal report titled “P reliminary Economic
Assessment of the Laguna Salada Uranium-Vanadi um Deposit, Chubut Province, Argentina” and the
January 18, 2013 technical report titled “U3O8 Corp . Preliminary Economic Assessment on the Berlin
Deposit, Colombia.”
For further information, please contact:
Richard Spencer, President & CEO, U3O8 Corp. Tel.: (416) 868-1491 & email: [email protected]