Riou Lake Project

Riou Lake Project site is located in the largely unexplored northern part of the Athabasca Basin, is adjacent to the Black Lake property and is about 35 kilometres southwest of Stony Rapids, Saskatchewan. The area has demonstrated potential for uranium mineralization as evidenced by the nearby Fond du Lac Deposit and drilling samples at Black Lake.

Uranium Deposits

With the presence of radioactive boulders in glacial till on the property containing up to 11.3% uranium, graphite-bearing gneiss units in the underlying basement rocks and local evidence of significant post-Athabasca reverse faulting, the property is considered prospective for unconformity-style uranium deposits.

Reconnaissance drilling has focused on areas where electromagnetic conductors have been defined by ground geophysical surveys. Several areas of anomalous alteration, low-grade uranium mineralization, and associated faulting have been intersected and now form principal target areas for follow-up drilling.

Future Exploration

UEX continues to evaluate the uranium exploration potential of the Riou Lake property. While prospective, the significant depths to the target area at the base of the Athabasca sandstone mean drilling will need to be optimized to the best targets with sufficient size potential for a significant uranium deposit.

Historical Timeline

• 2011: Compilation of geophysical data identified future drilling targets
• 2002: UEX assumed ownership of property and continued exploration
• 1997: Initial work on property conducted by Pioneer Metals Corporation