UWE U3O8 Corp

U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on exploration
and resource expansion of uranium and associated commodities in South America,
announced that, further to the press release of April 3, 2012, it has completed
the acquisition of the three mineral concessions from Pacific Bay Minerals Ltd.,
which are contiguous with U3O8 Corp's Cerro Solo East concessions adjacent to
the state-owned Cerro Solo uranium deposit in Chubut Province, Argentina.


As consideration for the properties, U3O8 Corp. issued 1.5 million shares, which
are subject to a statutory hold period expiring August 28, 2012, and paid
$100,000 in cash to Pacific Bay. Pacific Bay retains a 2% net smelter royalty
purchasable by U3O8 Corp. for $3 million at any time.


About U3O8 Corp. 

U3O8 Corp. is a Toronto-based exploration company focused on exploration and
resource expansion of uranium and associated commodities in South America - a
promising new frontier for uranium exploration and development. U3O8 Corp. has
one of the most advanced portfolios of uranium projects in the region comprising
mineral resources in Colombia, Guyana and Argentina.


Forward-Looking Statements 

Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of U3O8 Corp., including,
but not limited to, the possibility that the open-pit mining ban in Chubut
Province may not be lifted or amended on terms that would allow for the
potential mining of the company's projects in the province, the impact of
general economic conditions, industry conditions, volatility of commodity
prices, risks associated with the uncertainty of exploration results and
estimates, that a mineral resource will be defined on the company's targets in
Argentina or the resource growth potential will be achieved on its projects,
currency fluctuations, dependence upon regulatory approvals, and the uncertainty
of obtaining additional financing and exploration risk. 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.

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