U3O8 Reports Uranium Deposit Update

U3O8 Corp. (TSXV:UWE,OTCQX:UWEFF) announced an update and filed of the technical report on the uranium deposits in the Kurupung project in Guyana.

U3O8 Corp’s President and CEO, Richard Spencer said:

With this expanded resource from the Kurupung, we have grown our NI 43-101 uranium portfolio nearly 7-fold in just over one year while defining maiden resources of phosphate, vanadium, rare earths and other metals. Positive metallurgical results have also been achieved on all of our projects. 2012 is expected to be another milestone year with the priority on the Berlin Project in Colombia where we can efficiently use our cash to build shareholder value. Key objectives for Berlin are: ongoing drilling to show the size potential of the entire mineralized trend; infill drilling to increase the resource; refine the metallurgical process developed to extract multiple commodities from the ore; and complete a preliminary economic assessment by year-end.

Click here to read the U3O8 Corp. (TSXV:UWE) press release.