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 drill results that confirm consistent uranium mineralization in a tenth
zone, the Illiwa structure, in the Kurupung Batholith in Guyana (Figure 1).
Illiwa lies near the northeastern margin of the Kurupung Batholith, and extends
the area in which uranium-bearing structures have been found to 12 by eight
kilometres ("km").


"The drilling of consistent mineralization in the Illiwa area significantly
extends the size potential of the Kurupung Project," said Dr. Richard Spencer,
U3O8 Corp's President and CEO. "Numerous targets that lie in the 9km gap between
the mineralized areas of Illiwa and Aricheng will be explored in due course. At
present, we continue to focus on infill drilling at Aricheng towards our goal of
increasing our current National Instrument 43-101 ("NI 43-101") resource on the
Kurupung Project by the end of 2011(1)."


Table 1 - Assay Results for Illiwa Target

Summary of the principal mineralized intercepts cut in six bore holes (1,325
metres) completed in scout drilling at Illiwa. The location of the bore holes
referred to in the table is shown in Figure 2.




----------------------------------------------------------------------------
                              Intercept                         Grade       
            ----------------------------------------------------------------
                                          Estimated true               U3O8 
Bore Hole    From (m) To (m) Interval (m)       width (m)  U3O8 (%)  (lb/st)
----------------------------------------------------------------------------
ILLIWA-001       136    140            4             3.5     0.082      1.6 
----------------------------------------------------------------------------
ILLIWA-002  No Significant Values                                           
----------------------------------------------------------------------------
ILLIWA-003        79     87            8             6.9     0.082      1.6 
----------------------------------------------------------------------------
ILLIWA-004       107    114            7             6.1     0.045      0.9 
----------------------------------------------------------------------------
ILLIWA-005       203    206            3             2.6     0.104      2.1 
----------------------------------------------------------------------------
ILLIWA-006  No Significant Values                                           
----------------------------------------------------------------------------
                                                                            
Note: lb/st is an abbreviation for pounds per short ton. 1 short ton =      
 2,000lbs or 0.907 metric tonnes.                                           



Potential quantity and grade are based on drill results that define the
approximate length, thickness, depth and grade of the target area, but are
considered conceptual in nature. To date, there has been insufficient
exploration to define a mineral resource at Illiwa, and it is uncertain if
further exploration will result in a mineral resource being defined in this
area.


Mineralization at Illiwa

Scout drilling at Illiwa has confirmed consistent uranium mineralization for a
distance of 120 metres ("m") along a northeast-trending shear zone that lies
near the eastern margin of the Kurupung Batholith (Figure 3). Mineralization has
been drilled to 150m below surface and remains open at depth and along strike.
By analogy with similarly orientated mineralized shear zones such as Aricheng
North, uranium is expected to be concentrated in shoots that are spaced at
fairly regular intervals along trend and are separated by poorly mineralized
gaps up to 100m wide.


Uranium mineralization at Illiwa is contained within a crackle breccia zone with
an alteration assemblage of albite, chlorite, hematite and calcite. The
sheet-like breccia zone strikes northeast and dips to the southeast at an angle
of approximately 70 degrees. The mineralized breccia varies from approximately
1m to 8m in width.


Quality Assurance & Quality Control

QAQC procedures for Illiwa are the same as those used in our exploration
elsewhere in the Kurupung Project as described in the press release dated April
20, 2011.


Dr. Richard Spencer (P.Geo.), CEO and President of U3O8 Corp., a Qualified
Person within the definition of that term in NI 43-101 of the Canadian
Securities Administrators, had overall responsibility for all aspects of target
selection and drill-site location on the Illiwa target. Dr. Spencer has
supervised the preparation of, and verified, the technical information in this
release.


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 uranium 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.




(1) Scout drilling results suggest that the ten Kurupung structures         
    identified to date may contain a conceptual target of 13-18 million     
    tonnes at a grade of 0.08% to 0.10% U3O8 (estimated 30 to 35 million    
    pounds ("mlb") U3O8) including the initial NI 43-101 resource estimate. 
    The initial NI 43-101 resource estimate of 5.8mlb Indicated at an       
    average grade of 0.10% (2.0 lbs/st) U3O8 and 1.3mlb Inferred at an      
    average grade of 0.09% (1.9 lbs/st) U3O8 has been reported on the       
    Aricheng North and Aricheng South structures in the Kurupung Batholith. 
    Refer to the technical report dated January 14, 2009 titled "A Technical
    Review of the Aricheng North and Aricheng South Uranium Deposits in     
    Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc.",  
    available on U3O8 Corp's web site at www.u3o8corp.com and on SEDAR at   
    www.sedar.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, volatility of commodity prices, risks associated with the
uncertainty of exploration results and estimates and that the resource potential
will be achieved on the company's exploration projects, currency fluctuations,
dependence upon regulatory approvals, and the uncertainty of obtaining
additional financing and exploration risk. There is no assurance that
mineralization encountered at Illiwa and other Kurupung targets will add to U3O8
Corp's resource base. 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 - Clusters of Uranium-Bearing Structures in the Kurupung
Batholith, please visit the following link:
http://media3.marketwire.com/docs/u3o8_june8_fig01.pdf


To view Figure 2 - Drill Hole Locations of the Illiwa Target, please visit the
following link: http://media3.marketwire.com/docs/u3o8_june8_fig02.pdf


To view Figure 3 - Long Section of the Illiwa Structure, please visit the
following link: http://media3.marketwire.com/docs/u3o8_june8_fig03.pdf


To view the photo associated with this press release, please visit the following
link: http://www.marketwire.com/library/20110607-u3o8_june8_kurupung_map_01.jpg

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