TORONTO, ONTARIO--(Marketwire - Aug. 27, 2012) - U3O8 Corp. (TSX:UWE)(OTCQX:UWEFF), a Canadian-based company focused on exploration and resource expansion of uranium and associated commodities in South America, announced that the company has been approved by the Toronto Stock Exchange ("TSX") to graduate from the TSX Venture Exchange and list its common shares on the TSX. U3O8 Corp's common shares will begin trading today on the TSX under the same symbol "UWE".
"U3O8 Corp's graduation to the TSX marks another milestone and reflects our transition from a junior explorer into a mid-sized uranium company with a rapidly growing resource portfolio, across a spectrum of commodities," said Dr. Richard Spencer, U3O8 Corp's President and CEO. "We believe a senior listing will raise our profile and broaden our investor reach, particularly as we aim to show that our Colombian deposit has considerable size while moving to complete a preliminary economic assessment on this project by year-end."
About U3O8 Corp.
U3O8 Corp. is an advanced 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. In just one year, U3O8 Corp's uranium resources have grown 7-fold with deposits now in Colombia, Argentina and Guyana comprising of:
- Berlin Project, Colombia - its flagship property contains a uranium deposit with a high-value suite of by-products including phosphate, vanadium, rare earths (yttrium and neodymium) and other metals;
- Laguna Salada Project, Argentina - a near surface, free-digging uranium, vanadium deposit that is potentially amenable to low-cost mining; and
- Kurupung Project, Guyana - an initial uranium deposit in a large emerging uranium district.
Positive metallurgical results have been achieved on all three projects. U3O8 Corp's near-term focus is ongoing scout drilling in Colombia to drive resource growth and completion of a preliminary economic assessment by the end of 2012 to broadly estimate capital and operating costs on the initial multi-commodity resource defined at Berlin. Additional information on U3O8 Corp. and its mineral resources are available at www.u3o8corp.com.
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 impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, legislative change, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing, exploration risk and that the TSX listing will increase trading. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.