U3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium- Vanadium Deposit
36 Toronto Street T: 416-868-1491
Suite 1050 www.u3o8corp.com
Toronto TSX: UWE
ON, M5C 2C5 OCTQB: UWEFF
Canada
Press release
U3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium-
Vanadium Deposit
Toronto, Ontario – November 16th, 2017 – U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.”
or the “Company”) is pleased to outline how the offer of a C$1 million line of credit by the Company’s
founder and director, Dr. Keith Barron, in addition to funds recently raised by the Company, will be used to
undertake proof-of-concept work on its Laguna Salada uranium-vanadium deposit in Argentina. The funds
allow the Company to do specific test work that, if successful, is likely to significantly improve the economics
of Laguna Salada by lowering operating and capital costs from those determined in the positive preliminary
economic assessment (“PEA”) undertaken in 2014.
“I believe that there is a clear path for U3O8 Corp. to become a uranium and vanadium producer from the
Laguna Salada Deposit," said Dr. Keith Barron. “To help U3O8 Corp. achieve that goal, I have pledged to
support the Company with a convertible debt facility of up to C$1 million to be paid back in shares in a
maximum of three years. I cannot think of a more concrete way to demonstrate my faith in the Company:
I will finance the Company at a zero-interest rate and will only be repaid in shares in the future when the
share price is likely to have strengthened on the back of successful proof-of-concept test work.”
“The monies will be used to finance proof-of-concept production tests. In addition, I have released my
Manager of Operations at the Potentate Sapphire Mine in Montana – where we process gravel to recover
gemstones - to U3O8 Corp. on a temporary basis. John Rae is a Mining Engineer who will draw on his
extensive experience to optimize the screening and washing of gravel at Laguna Salada to ensure that its
mineralization is concentrated in the most cost-effective way. This pilot-scale test work will use standard
road-building and alluvial mining equipment sourced from local operators and repurposed in a cost-effective
way. U3O8 Corp.’s Director, David Marsh, who was instrumental in the design and operation of the uranium
processing plant at the Langer Heinrich mine in Namibia, is refining plans for our test work program. Dave
is uniquely qualified to oversee and dynamically adapt the test work program as results become available.”
“I am bullish long-term on uranium and vanadium prices. Cameco’s announcement last week, to cut
production from some of its biggest, highest-grade operations in Canada, unequivocally makes the point
that the current low uranium price is unsustainable. Cameco’s production cut, combined with those from
other producers like KazAtomProm, go a long way towards eliminating the current over-supply to the market
and should be a key factor in strengthening the uranium commodity price. However, until there is sustained
strength in uranium equities, I will stand behind U3O8 Corp. We will use the significant funds that may
otherwise be spent on additional NI43-101 reports, to complete proof-of-concept test work. Our CFO will
carefully monitor the real costs of our proof-of-concept program and make them transparent to shareholders
in our quarterly filings. My personal goal is to fast-track the Laguna Salada Project to demonstrate that we
can supply the current nuclear needs of Argentina, as well as the forecast requirements from the Argentine-
designed and built small modular reactor.”
For further details on Argentina’s electricity generation from large nuclear reactors, as well as its prototype
small modular reactor that represents a prime export opportunity, please see the Corporate Presentation
accessible on the homepage of our website http://www.u3o8corp.com.
Technical Information
Cautionary Note : A PEA is preliminary in nature, and includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no certainty that the results of the PEA
assessment will be realized.
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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 development of deposits of uranium and battery commodities in
South America. Battery commodities that occur with uranium resources include vanadium, nickel, zinc 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 surface, 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: http://www.facebook.com/u3o8corp, Twitter:
http://www.twitter.com/u3o8corp and YouTube: http://www.youtube.com/u3o8corp.
For further information, please contact:
Richard Spencer, President & CEO, U3O8 Corp. Tel.: (416) 868-1491 [email protected]
Forward-Looking Statements
This news release includes certain “forward looking 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 statements 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, resource goals, metallurgical testing, economic
studies and development activities will continue to be positive 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 project, (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,
and (v) financial markets and the market for uranium will improve for junior resource companies in the short-term. Such
statements are subject to risks and uncertainties that may cause actual results, performance 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 resource growth, future metallurgical test results, changes in project parameters as plans evolve,
(6) competitive developments, (7) availability of future financing, (8) exploration risks, and other factors 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 forward-looking statements. U3O8 Corp. assumes no obligation to update such information,
except as may be required by law. For more information on the above-noted PEAs, refer to the September 18, 2014
technical report titled “Preliminary Economic Assessment of the Laguna Salada Uranium-Vanadium Deposit, Chubut
Province, Argentina” and the January 18, 2013 technical report titled “U3O8 Corp. Preliminary Economic Assessment
on the Berlin Deposit, Colombia.”