U3O8 Corp. Provides an Update on Activities: August, 2017
401 Bay Street T: 416-868-1491
Suite 2702 www.u3o8corp.com
Toronto, ON M5H 2Y4 TSX: UWE
Canada OCTQB: UWEFF
Press release
U3O8 Corp. Provides an Update on Activities: August, 2017
Toronto, Ontario – August 03, 2017 – U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.” or
the “Company”) is pleased to provide an update on a ctivities since its Annual and Special Meeting
(“ASM”) held on June 22, 2017, that includes:
• The closing of the Existing Shareholder Prospectus Exemption (“ESPE”) financing announced on
June 27, 2017;
• Next steps in the stock consolidation that was app roved by shareholders at the Company’s recent
ASM;
• Update on metallurgical test work that has been co ncluded in Australia; and
• A note on the recent surge in vanadium prices.
Closing of the ESPE Financing
The Company raised $119,353 in a financing that was available only to existing shareholders – a
financing that was designed to give smaller shareho lders an opportunity to increase their shareholding in
the Company in a cost-effective way prior to the sh are consolidation that was approved at the ASM.
U3O8 Corp. is one of the first resource companies t o use the ESPE financing model with a subscription
form that could be completed online. Minor issues were encountered and successfully resolved in
offering this format which included an option of el ectronic payment through PayPal. The ESPE financing
closed on August 2, 2017.
Richard Spencer, President and CEO of U3O8 Corp. co mmented, “I would like to thank the subscribers to
this financing for their patience and help with iro ning out the wrinkles of the process, and for makin g the
first subscription payments to a U3O8 Corp. financi ng by credit card. We are well on our way to
streamlining and simplifying the subscription proce ss. Future financings by the Company are likely to be
private placements, which are open only to accredit ed investors, combined with ESPE, to ensure that al l
shareholders of U3O8 Corp. have an equal opportunit y to subscribe, irrespective of the size of their
shareholding.”
Consolidation of Shares
The consolidation of U3O8 Corp.’s common shares, as approved by shareholders at the ASM, will be
undertaken shortly. A further announcement will be made, and a letter of transmittal will be mailed t o
shareholders and posted on the Company’s profile on www.sedar.com , which will provide all related
details and instructions.
For shareholders with less than 1,000 U3O8 Corp. sh ares, the result of the consolidation is that their
share position will be cancelled and a cash payment made based on the trading price of the shares on
the date of approval at the ASM (June 22, 2017). T he consolidation provides a simple and cost-effecti ve
means of reducing the number of small common share lots that cost the Company a disproportionate
amount in administration expenses.
For shareholders holding more than 1,000 shares, th e consolidation will be followed by a share split
resulting in an overall consolidation of each twent y previously issued and outstanding common shares t o
one new share. The information circular posted on the Company’s profile on www.sedar.com provides
further background to the consolidation.
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Metallurgical Test Work
Test work that was undertaken in Australia failed t o achieve the results anticipated due to the extrem ely
fine-grained nature of the uranium-vanadium mineral s in the Laguna Salada gravel. Ironically, it is t his
fine particle size that leads to the rapid leaching of uranium and vanadium that is favourable for the
economics of the Project. It turns out that these f ine minerals may also be amenable to flotation as a
means of concentrating the metals beyond the levels attained by the methods described in the
preliminary economic assessment (“PEA”) of the Depo sit. The objective of the test work will be to
determine whether flotation may result in lower cash costs of production for the Deposit.
Surge in Vanadium Prices
The vanadium market moved into deficit last year as a result of increased demand for vanadium-steel
used mainly in the construction industry, and great er demand for vanadium in lithium-ion and vanadium
redox flow batteries (“VRB”). The vanadium price r esponded with a gain of 100% from its 10-year low
reached in early-2016. Its price surged a further 50% last week on an announcement that China intends
to ban the importation of iron slag which had been a secondary source of vanadium.
The selection of a VRB for the construction of the world’s largest battery is drawing attention to its energy
storage capacity at a truly industrial scale. The choice of the VRB for the Dalian site in China was based
on the battery’s reliability, life in excess of 20 years, and the fact that the electrolyte is fully r ecyclable at
the end of the battery’s life. The 200 megawatt / 8 00 megawatt-hour battery has sufficient capacity to
provide the electricity required by 100,000 typical western homes for eight hours.
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 developmen t of deposits of uranium and associated
commodities in South America. Potential by-product s 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 estimat es 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 uran ium -
vanadium deposit has low production-cost potential;
• Berlin Deposit, Colombia – a PEA shows that Berlin also has low-cost uraniu m production potential
due to revenue that would be generated from by-prod ucts 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 ve ins within a
uranium-zirconium vein system. Resources have been estimated on four veins, while consistent
mineralization of the same type has been intersecte d in scout drilling of an additional six veins, whi le
yet other veins require first-time exploration drilling.
Information on U3O8 Corp., its resources and techni cal 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 .
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For further information, please contact:
Richard Spencer
President & CEO
U3O8 Corp.
Tel.: (416) 868-1491
Forward-Looking Statements
This news release includes certain “forward looking statements” related with the development plans, ec onomic
potential and growth targets of U3O8 Corp’s project s. Forward-looking statements consist of statements that are not
purely historical, including statements regarding b eliefs, plans, expectations or intensions for the f uture, and include,
but not limited to, statements with respect to: (a) the low-cost and near-term development of Laguna S alada, (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 expenditu res, and (e) the price and market for uranium. Thes e statements
are based on assumptions, including that: (i) actua l results of our exploration, resource goals, metal lurgical 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 accur ate, (ii) a joint venture will be formed with the p rovincial
petroleum and mining company on the Argentina proje ct, (iii) requisite regulatory and governmental app rovals will be
received on a timely basis on terms acceptable to U 3O8 Corp., (iv) economic, political and industry ma rket conditions
will be favourable, and (v) financial markets and t he market for uranium will improve for junior reso urce companies in
the short-term. Such statements are subject to risk s 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) t he Company’s
ability to establish appropriate joint venture part nerships, (4) litigation, regulatory, and legislati ve developments,
dependence on regulatory approvals, and changes in environmental compliance requirements, community su pport
and the political and economic climate, (5) the inh erent uncertainties and speculative nature associat ed with
exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project
parameters as plans evolve, (6) competitive develop ments, (7) availability of future financing, (8) ex ploration risks,
and other factors beyond the control of U3O8 Corp. including those factors set out in the “Risk Facto rs” in our Annual
Information Form available on SEDAR at www.sedar.co m. Readers are cautioned that the assumptions used in the
preparation of such information, although considere d reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not b e 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 rep ort titled “Preliminary Economic Assessment of the Laguna
Salada Uranium-Vanadium Deposit, Chubut Province, A rgentina” and the January 18, 2013 technical report titled
“U3O8 Corp. Preliminary Economic Assessment on the Berlin Deposit, Colombia.”