UWE U3O8 Corp

U3O8 Corp. (TSX VENTURE:UWE) a Canadian-based company focused on exploration and
resource expansion of uranium and associated commodities in South America,
reports assay results from a further four bore holes and three trenches
completed in the Berlin Project in Caldas Province, Colombia. The Berlin Project
is a sediment-hosted, multi-commodity prospect with a historic resource(1) of
12.9 million tonnes at an average grade of 0.13% U3O8 (38 million pounds ("mlb")
U3O8) estimated on the southernmost 4.4 kilometres ("km") of a 10.5km long
mineralized trend. This historic work did not include estimates for commodities
other than uranium. 


"U3O8 Corp's exploration drilling has now confirmed consistent, multi-commodity
mineralization in the southernmost 2.5km of the Berlin trend," said Dr. Richard
Spencer. "Trenching has also shown that the mineralization occurs in the
northern part of the trend, corroborating previous exploration for the first
time, and highlighting the upside of the project beyond the historic resource.
Trenching will continue along the whole 10.5km trend, followed by drilling. In
the southern portion, we are now focused on infill drilling with the aim of
converting part of the historic resource into an initial National Instrument
43-101 ("NI 43-101") uranium resource in late 2011."


Dr. Spencer continued, "Metallurgical testing on drill core samples from Berlin
is ongoing to define a means of extracting the various metals and phosphate,
although the work is progressing more slowly than anticipated and results are
now expected in the latter half of the year. A bulk sample has also recently
been sent to Australian Nuclear Science and Technology Organization (ANSTO) for
further work. ANSTO has extensive experience with similar types of ore - it
established the process to extract uranium and rare earths from phosphate,
generating co-product phosphoric acid, at the Nolans Bore deposit in Australia.
The Berlin Project shares many characteristics with the Nolans Bore deposit." 


Table 1 - Assay Results from Drilling in the Southern Part of the Berlin Project 

Summary results for the four bore holes drilled from platform P6 in the southern
part of the Berlin Project(2) (Figures 1 and 2).




----------------------------------------------------------------------------
                                       U3O8      V2O5 P2O5   Mo Y2O3  Re  Ag
          Bore              Estimated --------------------------------------
          Hole   From     To     True        lbs                            
Platform     #    (m)    (m) Width(m)     %  /st    %    %  ppm  ppm ppm ppm
----------------------------------------------------------------------------
         DDB17 237.40 240.40     3.00 0.091 1.81 0.40 7.71  541  424 5.3 2.6
         -------------------------------------------------------------------
         DDB18 227.02 229.77     2.75 0.095 1.90 0.38 7.49  506  431 5.9 2.3
  P6     -------------------------------------------------------------------
         DDB19 225.78 228.35     2.57 0.085 1.71 0.44 7.47  561  428 5.4 2.0
         -------------------------------------------------------------------
         DDB20 295.58 298.53     2.95 0.070 1.41 0.43 7.41  634  497 6.6 2.6
----------------------------------------------------------------------------




Table 2 - Assay Results from Trenches in the Northern Part of the Berlin Project

Summary results for the three trenches excavated in the northern part of the
Berlin Project(2)(Figure 1).




----------------------------------------------------------------------------
          Estimated       U3O8          
 Trench        True ------------------   V2O5   P2O5    Mo  Y2O3    Re    Ag
      #   Width (m)      (%) (lbs/st)     (%)     (%)(ppm) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
TB31           0.92    0.050     0.99    0.63    10.1  102   448  0.09  1.05
----------------------------------------------------------------------------
TB32           1.38    0.057     1.14    0.54     5.6   58   436  0.00  4.99
----------------------------------------------------------------------------
TB33           2.47    0.129     2.59    0.74    18.1   53 1,110  0.07  1.10
----------------------------------------------------------------------------

                                                                            
(2) Assay results - lbs/st is an abbreviation for pounds per short ton. 1    
short ton = 2,000lbs or 0.907 metric tonnes. Potential quantity and grade   
are conceptual in nature. There has been insufficient exploration to define 
a mineral resource at the Berlin Project to date and it is uncertain if     
further exploration will result in the target being delineated as a mineral 
resource.                                                               



Mineralization

The mineralized unit at Berlin is a sedimentary layer that lies beneath an
organic-rich, black shale that is Cretaceous in age (Figure 2). The mineralized
layer changes in composition from fine-grained sandstone that transitions
laterally through carbonate-bearing siltstone to carbonate rock. Mineralization
lies at the top of this variable unit.


Microscopic study of drill core samples shows that the majority of the phosphate
occurs as fine, crystalline fluorapatite (Ca5(PO4)F) masses in the sandstone,
carbonate-bearing siltstone and carbonate rock. Most of the metals of
potentially economic interest occur as phosphate minerals, or are associated
with the fluorapatite.


Quality Assurance and Quality Control ("QAQC")

QAQC are incorporated by reference to the press release dated February 24, 2011,
available on U3O8 Corp's web site at www.u3o8corp.com and on SEDAR at
www.sedar.com.


Dr. Richard Spencer, President & CEO of U3O8 Corp., a Qualified Person within
the definition of that term in NI 43-101 of the Canadian Securities
Administrators, has supervised the preparation of, and verified the technical
information in this release.


(1) The Berlin resource estimate is historical and is reported in Castano, R.
(1981), Calcul provisoire des reserves geologiques de Berlin, sur la base des
resultants des sondages, unpublished Minatome report, 15p. There has been
insufficient exploration work completed to verify the historic estimate. U3O8
Corp. is not treating the historical estimate as current mineral resources and
it should not be relied upon or considered a NI 43-101 compliant resource. The
majority of the prior exploration on the Berlin Project was conducted by the
French company, Minatome, between 1978 and 1981 during which time 11
widely-spaced bore holes were drilled, 20 trenches were dug and three adits were
excavated. The historic estimate was generated on the southern 4.4km of a 10.5km
long syncline (Figure 1). Historic data from trenching shows that anomalous
grades of uranium continue along strike to the north. 


About U3O8 Corp.

U3O8 Corp. is a Toronto-based exploration company focused on exploration and
resource expansion of uranium and associated commodities in South America - a
promising new frontier for exploration and development. U3O8 Corp. has one of
the most advanced portfolios of uranium projects in the region comprising NI
43-101 compliant resources in Guyana and Argentina to significant historic
resources in Colombia.


For further information on U3O8 Corp's Berlin Project, refer to the technical
report entitled "Review of Historic Exploration Data from the Unaniferous Black
Shales of the Berlin Project and Chaparral Concession, Colombia: A guide to
future exploration" prepared by Richard Spencer and Richard Cleath dated March
23, 2010 and available at www.sedar.com. Additional information on U3O8 Corp. is
available on the company's web site at www.u3o8corp.com.


Forward-Looking Statements 

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, the timing of laboratory results, 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, dependence upon regulatory approvals, and the uncertainty of
obtaining additional financing and exploration risk. There is no assurance that
the Berlin Project will add to U3O8 Corp's resource base in the short-term, or
at all. 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. 


To view Figure 1 - Map Shows the Location of Trenches and Drill Platforms in the
Berlin Project please visit the following link:
http://media3.marketwire.com/docs/uwemaplocations1.pdf. 


To view Figure 2 - Cross Section of the Berlin Project at Drill Platform P6
please visit the following link:
http://media3.marketwire.com/docs/uwemaplocations2.pdf. 


To view the photo associated with this press release, please visit the following
link: http://www.marketwire.com/library/20110524-U3O8%20Corp.800.jpg.

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