U3O8 Corp's Exploration Drilling Extends Mineralization In Colombia

TORONTO - U3O8 Corp. reported that assay results from 12 bore holes confirm that mineralization extends over a minimum of 6.3 kilometres ("km") of a 10.5km prospective trend in the Berlin Project, Colombia. Mineralization is open along strike and exploration drilling is ongoing on the remainder of the Berlin trend where trenching has encountered similar mineralization at surface.

"These results are extremely positive because they show that mineralization extends over an additional area that is about 1.5 times the size of the maiden resource area - with more drill results to come from the northern half of the Berlin trend," said Dr. Richard Spencer, President & CEO of U3O8 Corp. "Berlin continues to show remarkable geological continuity with the uranium and other commodities concentrated in a specific and easily recognizable limestone-sandstone unit. Since the grade of uranium and other elements in the new area is similar to that of the current Berlin resource, we intend to undertake an infill drilling program to convert the newly discovered mineralization into additional resources. Additionally, the preliminary economic assessment being undertaken by Bateman Engineering N.V., an international company with extensive experience in the construction of multi-commodity processing plants, is on track for delivery by the end of 2012."