U308 Corp

over 7 years ago

Uranium-focused resource companies paid attention to the changing uranium landscape this week after major producer Kazakhstan said it would curtail output by 10%, pushing spot prices higher."

Dr. Richard Spencer, U3O8 Corp.'s President and CEO was interviewed by Mining Weekly Online. In this article, Mining Weekly explores the opportunities of resource expansion, cost reduction and upside characteristics of the Laguna Salada project in Argentina.

"A reduction in both operating and capital costs, combined with higher grades, would have a marked impact on the economics of the project - it is likely to make Laguna Salada one of the lowest-cost potential producers in the industry, according to Spencer."

"... vanadium accounts for about 14% of revenue in the economic assessment at Laguna Salada.", "we're starting to see exponential demand growth from the battery industry from lithium-ion batteries that have a vanadium component, and also from vanadium redox batteries that have huge energy storage capacity potential."

To read further, the full article is on Mining Weekly, click here.

About U3O8 Corp.

U3O8 Corp. is focused on exploration and development 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 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.

For information, please contact:

Richard Spencer, President and CEO

richard@u3o8corp.com

TSX: UWE