Western Athabasca Projects

In addition to the projects at Shea Creek and Douglas River, the Western Athabasca Projects consist of eight other project sites. Several areas have been noted for testing and drilling has been carried out on the Alexandra, Erica, Laurie and Mirror River project sites. These projects are accessible by Provincial Highway 955 and an airstrip maintained by AREVA Resources Canada Inc. ("AREVA"). The former Cluff Lake Mine camp is used as a base to conduct exploration work.

Exploration Results

Exploration on the Western Athabasca Projects is at an early stage. To date, airborne and ground geophysical surveys and drilling in widely spaced diamond drill holes have been completed. Diamond drilling and directional drilling has been carried out at Alexandra, Laurie, Erica and Mirror River.

Numerous conductors have been identified and confirmed on the properties with signatures similar to the highly prospective Saskatoon Lake Conductor, which is associated with uranium mineralization on the Shea Creek property. The presence of conductors in the area indicates the potential for unconformity-type uranium mineralization within the Western Athabasca properties.

Future Exploration

UEX and AREVA Resources Canada Inc. ("AREVA") continue to evaluate the uranium potential of the Western Athabasca Projects.

Historical Timeline

• 2010 - 2011: Ground geophysical studies at Mirror River Project
• 2007: Drilling programs at Mirror River Project
• 2007: UEX earns a 49% interest in the Western Athabasca Projects
• 2003 - 2006: Drilling programs at Laurie Project
• 2005: Drilling programs at Alexandra Project
• 1998 - 2005: Drilling programs at Erica Project
• 2004:UEX enters agreement to fund $30 million of drilling managed by AREVA to earn a 49% interest in the Western Athabasca Projects
• 2002 - 2004: First-pass airborne exploration programs
• 1980 - 2002: Production at nearby Cluff Lake Mine
• 2001: Drilling programs at Alexandra Project
• 1960s: Initial exploration of Western Athabasca region