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May 20, 2011

U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on exploration and resource expansion of uranium and associated commodities in South America, reports the filing of the National Instrument 43-101 ("NI 43-101") Technical Report on the Laguna Salada Project in Chubut Province, Argentina, following the companys press release on April 7, 2011 that announced the uranium- vanadium resource estimate on this project as follows:

Uranium:

Vanadium:

Laguna Salada is a low-grade prospect with a number of positive attributes for a potentially low-cost mining project including excellent beneficiation features that can increase the uranium and vanadium grades by four to 12 times through simple and inexpensive screening (see U3O8 Corps press releases dated April 7, 2011 and March 2, 2011.) For uranium, this would lead to a head grade of approximately 550-580 ppm U3O8 � typical of head grades of similar deposits elsewhere in the world1. The mineralized layer at Laguna Salada lies near the surface of flat-topped mesas and mining could simply lower the profile of the mesas. The uranium-vanadium occurs in soft, unconsolidated gravel that should require no blasting and crushing. Acid leach tests yielded good recoveries of both metals. Metallurgical test work on both acid and alkaline leach is ongoing.

Mineralization remains open in both the Guanaco and Lago Seco areas of Laguna Salada. Further resource growth will be investigated through the exploration of possible extensions to the Laguna Salada Project as well as through exploration of similar targets in Santa Cruz Province in southern Argentina.

A summary of the resource estimates in the Laguna Salada Project is shown below. The recommended cut-off grades for the two mineralized areas, taking into account their distinct beneficiation characteristics, are: 25ppm U3O8 for Guanaco and 100ppm U3O8 for Lago Seco.