May 27, 2010

UEX Corp Discovers 44 thousand ton Uranium Deposit

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1. UEX Corp, a Vancouver company, is sitting on what could be the largest undeveloped uranium deposit in Canada.

UEX Corp. (TSX:UEX) announced the first 43-101 resource estimate for its Shea Creek project in Saskatchewan’s Athabasca Basin Wednesday morning. The basin is considered the world’s richest source of uranium.

The estimate revealed a total resource of 88.1 million pounds (44,000 tons) of uranium in indicated and inferred categories, which are standardized classifications based on drill results. In 2009, UEX spent $14.5 million on exploration in the Athabasca Basin to find this $4 billion of uranium.

2. China Guangdong Nuclear Power Holding Corporation (CGNPC) will purchase overseas resources of natural uranium of 170,000 tons

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