This corporate presentation provides an overview of UEX Corporation, a uranium exploration and development company. It contains forward-looking statements regarding future plans and contains disclaimers for U.S. persons regarding the differences between Canadian and U.S. standards for mineral resource reporting. The presentation summarizes UEX's management team and board of directors, major exploration projects, total mineral resources, project expenditures, and historical drilling completed to date.

1. CORPORATE PRESENTATION
1

2. Forward-Looking Statements
FORWARD-LOOKING INFORMATION AND STATEMENTS:
Certain statements and other information contained in this presentation may constitute “forward-looking information” within the meaning of applicable Canadian securities
legislation or constitute “forward-looking statements” within the meaning of applicable United States securities legislation. Such information and statements are based on
UEX's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding UEX‘s outlook for our future operations,
plans and timing for exploration activities, and other expectations, intentions and plans that are not historical fact. The words “estimates”, “projects”, “expects”, “intends”,
“believes”, “plans”, or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are
based on certain factors and assumptions and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from UEX's expectations include uncertainties
relating to interpretation of drill results and geology, additional drilling results, continuity and grade of deposits, participation in joint ventures, reliance on other companies
as operators, public acceptance of uranium as an energy source, fluctuations in uranium prices and currency exchange rates, changes in environmental and other laws
affecting uranium exploration and mining, and other risks and uncertainties disclosed in UEX's Annual Information Form and other filings with the applicable securities
commissions in Canada. Many of these factors are beyond the control of UEX. Consequently, all forward-looking statements made herein are qualified by this cautionary
statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place
undue reliance on such forward-looking statements. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events or otherwise.
NOTICE TO U.S. PERSONS:
The information in this presentation has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United
States securities laws. Information, including scientific or technical information, has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure
for Mineral Projects (“N.I. 43-101”). N.I. 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral projects. Canadian standards, including N.I. 43-101, differ significantly from the requirements of the SEC.
For example, the terms “indicated mineral resources” and “inferred mineral resources” are used in this publication to comply with the reporting standards in Canada. While
those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Under United States standards, mineralization may not be classified as a
“reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is
made. Readers should understand that “indicated mineral resources” and “inferred mineral resources” have a great amount of uncertainty as to their existence and as to
their economic and legal feasibility. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral
reserves. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies. In addition, the
definitions of proven and probable mineral reserves used in N.I. 43-101 differ from the definitions in the SEC Industry Guide 7. Disclosure of “contained pounds” is
permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place
tonnage and grade without reference to unit measures. Accordingly, information contained in this publication describing the Company's mineral properties may not be
comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and
the rules and regulations thereunder.
QUALIFIED PERSON:
Technical information in this presentation has been reviewed and approved by R. Sierd Eriks, P.Geo., UEX’s Vice-President of Exploration who is a Qualified Person as defined
by N.I. 43-101.
TSX: UEX
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www.uex-corporation.com

3. Management
Roger Lemaitre, P.Eng., P.Geo., MBA, M.Sc.(Applied), B.Sc.(Applied) – President & CEO
UEX Management Team
Mr. Roger Lemaitre is a Professional Engineer and Geologist with more than 20 years of
professional experience, with both senior and junior mining companies. Before joining UEX,
Mr. Lemaitre held the position of CEO and Executive Director of URU Metals Limited, an AIMlisted junior uranium and base metal exploration company, where he re-organized the
company's asset mix by identifying and successfully acquiring significant new exploration
projects. Prior to joining URU, Mr. Lemaitre held a variety of senior management positions
with Cameco Corporation, one of the world's largest uranium producers, and was Cameco's
Director of Worldwide Exploration Projects.
Ed Boney, CA – Chief Financial Officer & Corporate Secretary
Mr. Boney held the position of Corporate Controller at a Canadian junior gold mining company with producing
mines in Canada and Peru prior to joining UEX. He has also held the position of manager with Deloitte where he
supervised the audits of public companies in the mining and natural resource sector and was involved in the
asset valuations of several companies in the Canadian oil and gas sector.
R. Sierd Eriks, P.Geo. – Vice-President, Exploration
Left to right: Graham Thody, Nan Lee, Ed Boney and Sierd Eriks
Mr. Eriks, B.A. (Geology), has worked in mineral exploration for over thirty years. From 1979 to 1998, he gained
geological and managerial experience with SMDC (now Cameco Corporation), Falconbridge Limited, Noranda
Exploration Co. Ltd. and Cogema Resources Inc. (now AREVA Resources Canada Inc.) in base metals, gold, PGE
and uranium exploration.
Nan H. Lee, M.Sc., P.Eng. – Vice-President, Project Development
UEX Advisory Board
Walter Segsworth
David Rhys
Ms. Lee has worked as a Mining and Project Engineer on several projects in Canada and has also worked with
Kilborn Engineering where she assisted with project feasibility studies. As an independent consultant she has
coordinated, or assisted with the preparation of Environmental Impact Statements for several uranium mine
developments in Canada. Previously, Ms. Lee managed the preliminary feasibility studies for tailings
management facilities for two uranium operations in northern Saskatchewan.
Walter Segsworth, P.Eng. – Management Advisory Board
Mr. Segsworth previously served on the Board of Directors of UEX from 2002 to 2008. He has managed three large Canadian mines. In 1990 he was appointed President and Director
of Westmin Resources Ltd. Upon the takeover of Westmin by Boliden in 1998, Mr. Segsworth joined Homestake Mining Company of California where he was subsequently appointed
President, Director and Chief Operating Officer and served until its merger with Barrick in early 2002. He is currently Lead Director of Alterra Power Corporation.
David Rhys, M.Sc., P.Geo. – Management Advisory Board
Mr. Rhys is a consulting structural geologist specializing in structural controls on mineral deposits and their application to exploration, mining and mine site grade control. He has had
a long association with UEX, and has provided technical consulting and guidance to the Company since its inception. He has also been involved in exploration advisory roles to several
other junior mining companies.
TSX: UEX
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www.uex-corporation.com

4. Board of Directors
UEX Board of Directors
Mark P. Eaton, B.A.
Chairman of the Board
Mr. Eaton is an experienced investment professional with over 20 years of experience in
equity capital markets specializing in the resource sector. He has held the position of
Managing Director of Global Mining Sales, a division of CIBC World Markets of Toronto,
Canada and Manager of U.S. Equity Sales for CIBC World Markets. He was a Partner and
Director of Loewen Ondaatje McCutcheon Ltd., a Toronto-based investment dealer, until
March 2008. He is currently President and CEO of Belo Sun Mining Corp.
Graham C. Thody, CA
Left to right: Mark Eaton, Colin Macdonald, Suraj Ahuja, Graham Thody,
Emmet McGrath and Roger Lemaitre (not pictured here)
Mr. Thody was a Partner of NTA, Chartered Accountants from 1979 until his retirement
from public practice in 2007. He was a Director of Pioneer Metals Corporation at the time
of the adoption of the Plan of Arrangement which created UEX Corporation and has been a
Director of UEX since its inception. He served as Chairman of the Board of UEX until June
2010, and as its President and CEO from November 2009 to January 2014. Mr. Thody
continues in a consulting role with UEX for two years and will continue as a member of the
UEX Board.
Colin C. Macdonald, M.Sc.
Mr. Macdonald held the position of Vice-President, Exploration, for Cameco Corporation until his retirement on June 30, 2011. He had worked for Cameco Corporation and
its predecessor companies since 1981 and was responsible for Cameco's worldwide uranium exploration activities.
Suraj P. Ahuja, M.Sc., P.Geo.
Mr. Ahuja's career as a geologist in the design and management of mineral exploration programs spans over 40 years. From 1978 to 1988 he was employed by SMDC (now
Cameco) as a Project Geologist and a Senior Geologist. From 1988 to 2000 he was employed by PNC Exploration (Canada) Co. Ltd., a Japanese-owned uranium exploration
company, as VP Exploration. Mr. Ahuja consults for several major and junior uranium exploration companies through his own mineral exploration consulting company.
Emmet McGrath, CA
Mr. McGrath, a member of the Canadian Institute of Chartered Accountants, was an audit partner with KPMG from 1981 to 2002. He has a thorough understanding of the
regulatory and statutory reporting requirements of publicly listed companies and is well versed in corporate governance matters. He has extensive experience in mergers
and acquisitions, and currently sits on the Board of Directors of several publicly listed companies in the mining industry. He is a Director and former Chairman of the Board
of Westminster Credit Union, the fourth largest credit union in British Columbia.
Roger Lemaitre, P.Eng., P.Geo., MBA, M.Sc.(Applied), B.Sc.(Applied) – President & Chief Executive Officer
TSX: UEX
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www.uex-corporation.com

5. Corporate Overview

UEX Corporation is an industry leader in
the discovery and advancement of new
uranium resources in Canada’s Athabasca
Basin.
 UEX is amongst a small group of
companies with existing N.I. 43-101
resources at the Indicated stage
 UEX’s enduring success in uranium
exploration is enhanced by:
 Early acquisition of highly prospective
land positions in the prolific Athabasca
Basin
 Strong relationships with Cameco
Corporation and AREVA, the world’s
largest uranium companies
 Progress continues on our advanced
resource development projects at Shea
Creek and Hidden Bay.
TSX: UEX
•
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The Athabasca Basin is located in
northern Saskatchewan, Canada and
yields approximately 15% of the world’s
mined uranium annually.
www.uex-corporation.com

6. Corporate Summary
Shares
 Issued and outstanding
 Fully diluted
Options
Warrants
17,821,000
227,838,679
245,659,679
Weighted Average Exercise Price for Options
$ 0.93
Nil
 Share Price (February 17, 2014)
 Market Capitalization
 Daily Trading Volume (3 month average)
$ 0.52
$ 118,476,000
343,000
Significant shareholders
 Cameco Corporation
 Global X Uranium ETF
 Black Rock Investment Management
 Current/Retired Management & Directors
21.95%
4.38%
3.95%
1.53%
Cash position as at February 17, 2014 (estimated)
$ 8.1 million
TSX: UEX
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7. UEX Major Assets
TSX: UEX
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www.uex-corporation.com

8. Total Resources
N.I. 43-101 Mineral Resource Estimates
Millions of Pounds of U3O8 by Category and by Project
16.53
69.78
Indicated Mineral Resource (UEX’s share)
Millions of pounds of U3O8
40
35
36.62
30
33.15
25
20
15
13.81
10
5
Inferred Mineral Resource (UEX’s share)
2.72
0
SHEA CREEK - Indicated Category
at 0.30% U3O8 Cut-off
SHEA CREEK - Inferred Category
at 0.30% U3O8 Cut-off
U3O8
(lbs)
Grade
U3O8
(%)
Shea Creek (UEX's 49% share)
U3O8
(lbs)
Deposit
Tonnes
Grade
U3O8
(%)
Kianna*
1,034,500
1.526
34,805,000
560,700
1.364
16,867,000
Anne*
564,000
1.992
24,760,000
134,900
0.880
Colette*
327,800
0.786
5,680,000
493,200
58B*
141,600
0.774
2,471,000
2,067,900
1.484
67,663,000
Total*
Hidden Bay
HIDDEN BAY - Indicated Category
at 0.05% U3O8 Cut-off
HIDDEN BAY - Inferred Category
at 0.05% U3O8 Cut-off
U3O8
(lbs)
Grade
U3O8
(%)
Deposit
Tonnes
Grade
U3O8
(%)
2,617,000
Horseshoe
5,119,700
0.203
22,895,000
287,000
0.166
1,049,000
0.716
7,780,000
Raven
5,173,900
0.107
12,149,000
822,200
0.092
1,666,000
83,400
0.505
928,000
78,900
0.908
1,579,000
-
1,272,200
1.005
28,192,000
10,372,500
0.160
36,623,000
1,109,200
Tonnes
West Bear
Total
Tonnes
0.111
U3O8
(lbs)
2,715,000
* Joint venture with 49% UEX / 51% AREVA ownership
TSX: UEX
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9. Project Expenditures
To December 31, 2013
UEX Expenditures 2012-2013
Cumulative Expenditures
(C$ millions)
(C$ millions)
4
$3.80M
70
$6.8M
60
$3.07M
3
50
40
2
$1.25M
30
$1.09M
Shea Creek
Exploration 2012
Exploration 2013
TSX: UEX
2012
2013
Hidden Bay
20
-
2012
$0.02M
2013
$0.61M
$0.09M
2012
$0.09M
1
0
$7.4M
-
2013
Other
$59.9M
$43.7M
$38.2M
10
0
Shea Creek Hidden Bay
Development 2012
Development 2013
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Exploration
Other
Development
www.uex-corporation.com

10. Exploration Drilling
To December 31, 2013
Annual Drilling 2010-2013
Historical Drilling
(thousands of metres)
(thousands of metres)
25
500
20
400
282.9
300
15
10
24.0
19.9 21.1
200
11.5 12.6
5
100
6.5
0
2.9
2010
2011
2012
2013
Shea Creek*
2010
2011
153.9
2010
2011
-
2012
2013
Hidden Bay
2012
2013
205.0
99.3
0
Shea Creek*
Pre-UEX
Hidden Bay
UEX
* Utilizing directional drilling, whereby several wedge cuts are made from a single pilot hole, has significantly reduced the total number
of drilling metres required to attain the desired number of unconformity impacts.
TSX: UEX
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11. 50.9%


49.1%
Largest undeveloped uranium resource in the
Athabasca Basin.
Impressive potential for resource expansion:
‒ Current resources are open in almost every
direction.
‒ Only 3 km of the 33 km prospective Saskatoon
Lake Conductor has been adequately explored.
‒ Several conductors on the property remain
untested.


TSX: UEX
Experienced world-class joint venture partner
AREVA is a global uranium miner with Athabasca
experience.
UEX has the ability to direct future exploration
activities through additional funding.
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www.uex-corporation.com

12. SHEA CREEK PROJECT
 Located in northwest Saskatchewan,
the Shea Creek property hosts the
largest undeveloped uranium
resource in the Athabasca Basin.
Shea Creek Exploration Camp
 AREVA’s former Cluff Lake uranium
mine is located approximately
15 km to the north of the Shea
Creek deposits and produced over
62 million lbs(1) of U3O8 during its
successful 22 years of operation.
 Access is provided year-round by Provincial Highway 955, allowing for easy transport of
crews, equipment and supplies to the project site.
(1)
TSX: UEX
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Source: Saskatchewan Mining Association
www.uex-corporation.com

13. Shea Creek - Overview

The Shea Creek Project is a joint venture 49.1%
owned by UEX Corporation and 50.9% owned by
AREVA Resources Canada Inc., the project
operator.

The Shea Creek Project contains the largest
undeveloped uranium resource in the Athabasca
Basin.

UEX Cumulative Expenditures
Projected to December 31, 2013
 Exploration
 Development
C$43.7 million
C$ 7.4 million


2013 Additional Exploration Expenditures
 Exploration
C$ 2.0 million

TSX: UEX
2013 Joint Venture Expenditures
 Exploration
C$ 3.1 million
2014 Joint Venture Budget
 To be determined
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www.uex-corporation.com

14. Shea Creek - Resources

The N.I. 43-101 mineral resource estimate for Shea Creek incorporates resources from the
Kianna, Anne, Colette and 58B deposits based on drilling information up to December 31, 2012.
The Shea Creek mineral resource estimate is included in a technical report on the Shea Creek Project with an effective date of May 31,
2013 which was filed on SEDAR at www.sedar.com on May 31, 2013.

This mineral resource estimate confirms that Shea Creek remains the largest undeveloped
uranium resource in the Athabasca Basin. It also ranks as the third largest existing uranium
resource in the Basin, exceeded in size only by McArthur River and Cigar Lake.

The resources at Shea Creek are open in almost every direction and have excellent potential for
significant expansion as exploration continues.
Indicated Resources at 0.30% U3O8 cut-off
Deposit
Tonnes
Kianna*
1,034,500
1.526
34,805,000
560,700
1.364
16,867,000
Anne*
564,000
1.992
24,760,000
134,900
0.880
2,617,000
Colette*
327,800
0.786
5,680,000
493,200
0.716
7,780,000
58B*
141,600
0.774
2,417,000
83,400
0.505
928,000
2,067,900
1.484
67,663,000
1,272,200
1.005
28,192,000
Total*
U3O8 (%)
U3O8 (lbs)
Inferred Resources at 0.30% U3O8 cut-off
Tonnes
U3O8 (%)
U3O8 (lbs)
* Joint venture with 49.1% UEX / 50.9% AREVA ownership
TSX: UEX
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15. Shea Creek - Deposits

The Shea Creek Project contains four known
uranium deposits:
 Colette
 Kianna
 58B
 Anne

The deposits are distributed along a strike length
of over 3 km at the north end of the 33-km long
Saskatoon Lake Conductor.

Mineralization is largely open and large parts of
the Saskatoon Lake Conductor remain untested;
the potential for resource expansion is extremely
high.

UEX signed an agreement that allows the
Company to increase its interest in the Western
Athabasca Joint Venture (including Shea Creek).
The Company has the option but no obligation to
spend up to $18.0 million over a six-year period
to earn an additional 0.9% interest in the project.
UEX will gain not only a further interest of 0.9%
in the existing resource, but also up to 49.9% of
any further resources discovered. UEX has
already earned 0.1% of the 0.9% interest to date.
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16. Shea Creek - Mineralization

Perched
The uranium mineralization in a deposit
can occur in three styles:
Unconformity
 Perched (P) mineralization is found in
sandstone at shallower depths.
Basement
 Unconformity (UC) mineralization is
found at the contact of the
sandstone and the underlying
basement rock.
 Basement (B) mineralization is found
in the gneissic rock beneath the
unconformity.
New
Basement
Zone

Kianna Deposit
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A wireframe model of the Kianna Deposit
depicting stacked mineralization is shown
to the left.
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17. Shea Creek - Mineralization
Kianna SHE-114-05
 Perched (P)
mineralization grading
27.7% eU3O8 over 7.6 m
Kianna SHE-115-03
 Unconformity (UC)
mineralization grading
21.2% U3O8 over 4.3 m
Kianna SHE-115-11
 Basement (B)
mineralization grading
13.2% U3O8 over 4.5 m
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18. Shea Creek - Mineralization
Selected High-Grade Drilling Results
Kianna
Colette




SHE-114-19
(P)
33.6% eU3O8 over 1.3 m
SHE-115-10
(B)
24.3% U3O8 over 2.5 m
SHE-123-06
(UC) 32.3% U3O8 over 1.1 m
SHE-111-06
(B)
23.9% U3O8 over 0.5 m
Anne



TSX: UEX
SHE-087
(B)
34.7% U3O8 over 1.9 m
SHE-096-03
(UC) 29.2% U3O8 over 3.4 m
SHE-099
(UC) 60.6% U3O8 over 1.2 m
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www.uex-corporation.com

19. Shea Creek - Kianna Deposit
SHE-114-09: GT 144
4.64% eU3O8/22.2 m
SHE-114-11: GT 254
4.09% eU3O8/45.0 m
Perched
SHE-114-20: GT 145
1.02% eU3O8/141 m
SHE-114-19: GT 71
5.94% eU3O8/12.0 m
SHE-114-07: GT 70
7.37% U3O8/9.5 m
SHE-115-04: GT 48
2.55% U3O8/19.0 m
SHE-115-11: GT 88
5.36% U3O8/16.5 m
SHE-115-03: GT 114
9.34% U3O8/12.2 m
SHE-118: GT 50
6.30% U3O8/7.9 m
SHE-115-18: GT 115
8.42% eU3O8/12.6 m
SHE-114-05: GT 224
20.7% eU3O8/10.2 m
Unconformity
SHE-115-05: GT 73
7.83% U3O8/7.2 m
Basement
Zone
(2011)
Basement
Basement Zone
Upper Kianna East
(2012)
SHE-115-08: GT 91
6.17% U3O8/6.7 m
SHE-115-10: GT 144
8.58% U3O8/15.0 m
Basement Zone
Kianna East (2012)
Kianna Deposit: Wireframe Model
Side view facing SW: perched, unconformity and
basement mineralization are clearly visible.
GT is presented for the entire drill hole along with
the Grade/Thickness of the major intercept.
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20. Shea Creek - Anne Deposit
SHE-109-06: GT 40
4.51% U3O8/8.9 m
SHE-122-05: GT 75
3.64% U3O8/20.5 m
Perched
Unconformity
SHE-109-05: GT 79
7.24% U3O8/8.7 m
SHE-095-03: GT 86
4.41% U3O8/14.9 m
SHE-101-02: GT 32
3.75% U3O8/8.6 m
SHE-122-01: GT 163
4.21% U3O8/36.0 m
SHE-100-01: GT 110
3.32% U3O8/25.1 m
SHE-096-03: GT 143
5.42% U3O8/19.0 m
Basement
SHE-099-03: GT 36
2.61% U3O8/13.6 m
SHE-016: GT 39
4.32% U3O8/9.1 m
SHE-087: GT 70
11.6% U3O8/6.0 m
SHE-099-02: GT 101
5.65% U3O8/17.9 m
SHE-099: GT 84
10.0% U3O8/8.4 m
Anne Deposit: Wireframe Model
Side view facing NE: perched, unconformity and
basement mineralization are clearly visible.
GT is presented for the entire drill hole along with
the Grade/Thickness of the major intercept.
TSX: UEX
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21. Shea Creek - Colette Deposit
SHE-066-2: GT 33
1.28% eU3O8/26.0 m
ANNE
KIANNA
SHE-066-3: GT 34
1.22% eU3O8/27.9 m
58B
SHE-059: GT 27
4.10% U3O8/6.6 m
KIANNA
EAST
SHE-065: GT 21
1.73% U3O8/11.9 m
COLETTE
SHE-052: GT 39
2.34% U3O8/16.8 m
Basement
mineralization
Unconformity
mineralization
SHE-111-06: GT 26
3.23% U3O8/8.0 m
Colette Deposit: Wireframe Model
View from above the unconformity facing SE with
58B, Kianna and Anne visible in the distance.
GT is presented for the entire drill hole along with
the Grade/Thickness of the major intercept.
TSX: UEX
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22. Shea Creek - 58B Deposit
ANNE
GT is presented for the entire drill hole along with
the Grade/Thickness of the major intercept.
SHE-133-5: GT 19.5
6.53% eU3O8/1.6 m
KIANNA
SHE-133-7: GT 22.7
2.13% eU3O8/10.6 m
KIANNA
EAST
SHE-133-3: GT 20.2
1.81% eU3O8/7.6 m
SHE-133-4: GT 21.2
6.55% eU3O8/2.4 m
58B
SHE-133-6: GT 11.8
6.17% eU3O8/1.6 m
Basement
mineralization
 Mineralization at 58B has now been traced over a
strike length of 400 metres and occurs over a
width of up to 110 metres in plan view.
Unconformity
mineralization
 Broad areas of the highly prospective structural
corridor hosting 58B remain sparsely tested and
open in several directions.
TSX: UEX
58B Deposit: Wireframe Model
View from above the unconformity facing SE with
Kianna and Anne visible in the distance.
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23. HIDDEN BAY PROJECT
100% owned
 Hosts the 6th largest undeveloped uranium
resource in the Athabasca Basin.
 Known deposits:
‒ Horseshoe, Raven and West Bear
Aerial view of Horseshoe-Raven Camp
Horseshoe-Raven Camp
 The 2010 N.I. 43-101 preliminary economic
assessment report (PA) indicates that the
project could yield EBIT of C$246M, pre-tax
NPV of C$163M and IRR of 42%(1)(2) at a price
of US$60/lb U3O8.
(1) These results are included in a technical report on the Hidden Bay property with an effective date of February 15, 2011 available online under UEX’s profile at www.sedar.com.
(2) Projects in the mining sector have experienced rising costs, including rising capital and operating costs, during the past few years. Rising capital and operating costs would, in the
absence of other changes, negatively impact EBIT, NPV and IRR which have been calculated based upon historical costs. Accordingly, readers should bear these factors in mind
when reading the PA and should not place undue reliance on the PA.
TSX: UEX
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24. HIDDEN BAY PROJECT
 Horseshoe and Raven are approximately
4 km from Cameco’s Rabbit Lake Mill and
22 km from AREVA’s McClean Lake Mill.
This proximity creates the opportunity
for toll milling arrangements to be
negotiated.
 Hydroelectric transmission lines that
service both of these facilities pass 3 km
to the north of the deposits.
 Provincial Highway 905 provides access to
the deposits and the local uranium mills.
TSX: UEX
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25. Hidden Bay - Overview

The Hidden Bay Project is 100% owned by
UEX and contains three known uranium
deposits:
 Horseshoe
 Raven
 West Bear

The Hidden Bay Project contains the sixth
largest undeveloped uranium resource in
the Athabasca Basin.

Cumulative Expenditures
Projected to December 31, 2013
 Exploration
 Development

C$59.9 million
C$ 6.8 million
Future Work
 Additional greenfields drilling exploration
at Hidden Bay has been deferred
temporarily until market conditions
improve.
TSX: UEX
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26. Horseshoe and Raven Economics

The February 2011 N.I. 43-101 Preliminary Assessment Technical Report (“PA”) prepared by SRK Consulting
(Canada) Inc. recommends that the project be advanced to a preliminary feasibility level, and that this next
phase of study also include UEX’s West Bear Deposit.
These results are included in a technical report on the Hidden Bay property with an effective date of February 15, 2011 available online under
UEX’s profile at www.sedar.com.

The PA utilized cut-off grades calculated on the basis of $60 (US) per lb of U3O8 and estimated 16.6 million lbs
of U3O8 could be extracted over a seven-year mine life.

Base Case economics at $60 (US) per lb of U3O8:
Price U3O8
Pre-Tax (Base Case) (1)
$60 (US)
NPV5%
IRR
(C$ millions)
(per lb)
EBIT
(C$ millions)
(%)
246
163
42
“EBIT” Earnings before interest and taxes
“NPV5%” Net present value (5% discount rate)
“IRR” Internal rate of return

The Preliminary Assessment Technical Report is preliminary in nature, includes inferred mineral resources that
are considered too speculative geologically to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic
assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated
economic viability.
(1)
Projects in the mining sector have experienced rising costs, including rising capital and operating costs, during the past few years. Rising capital and
operating costs would, in the absence of other changes, negatively impact EBIT, NPV and IRR which have been calculated based upon historical
costs. Accordingly, readers should bear these factors in mind when reading the PA and should not place undue reliance on the PA.
TSX: UEX
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www.uex-corporation.com

27. Horseshoe and Raven Economics

Uranium processing and tailings management, as envisioned
in the PA, would be conducted through a toll arrangement* at
one of two milling facilities located near Horseshoe and Raven:


The Rabbit Lake Mill within 4 km, operated by Cameco
The McClean Lake Mill within 22 km, operated by AREVA

The PA has focused on Cameco’s Rabbit Lake Mill as it has
excess capacity and is the closer of the two facilities.

The Hidden Bay Project has opportunities for the improvement
of economics, including:

Expansion of mineable tonnes due to an increase in U3O8 price which would result in a lower
cut-off grade and thus the conversion of a higher proportion of the existing resource base to
reserves;

Expansion of mineable tonnes through discovery of additional resources at other locations on
the Hidden Bay property; and

Inclusion of UEX’s West Bear Deposit in the overall project mine plan and economics.
* Toll milling utilizes the excess capacity of an existing mill to process uranium ore, and is often a cost-effective alternative to constructing a new milling facility.
TSX: UEX
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28. Horseshoe and Raven Resources

UEX is focused on advancing the
deposits at Horseshoe and Raven
through pre-feasibility and ultimately
to feasibility level to assess the
potential economics and viability of
mining the deposits.

Results from the July 2009 N.I. 43-101
mineral resource estimate prepared by
Golder Associates Ltd. are shown in
the table below.
This resource is included in a technical report on
the Hidden Bay property with an effective date of
February 15, 2011 available online under UEX’s
profile at www.sedar.com.
Indicated Resources at 0.05% U3O8 cut-off
Deposit
Tonnes
Horseshoe
5,119,700
0.203
22,895,000
287,000
0.166
1,049,000
Raven
5,173,900
0.107
12,149,000
822,200
0.092
1,666,000
Total
10,293,600
0.155
35,044,000
1,109,200
0.111
2,715,000
TSX: UEX
U3O8 (%)
U3O8 (lbs)
Inferred Resources at 0.05% U3O8 cut-off
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Tonnes
U3O8 (%)
U3O8 (lbs)
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29. Horseshoe and Raven Deposits

The Horseshoe and Raven Deposits lie in overall competent and impermeable quartzite,
arkosic quartzite and calc-arkosic gneiss host rocks with no overlying Athabasca sandstone
cover, highly favourable conditions for mining in the Athabasca Basin.

Vertical cross sections of the Horseshoe and Raven Deposits are shown above.
TSX: UEX
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30. Horseshoe and Raven Mineralization
HU-16 high grade intercept: 12.35 m @ 4.53% U3O8
Nodular pitchblende
rimmed by boltwoodite
TSX: UEX
Pitchblende in
hematite-clay
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Late yellow boltwooditeuranophane
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31. WEST BEAR RESOURCES

100% owned
Results from the January 2009 N.I. 43-101 mineral resource estimate for the West Bear
Deposit prepared by Golder Associates Ltd. are as follows:
‒ 78,900 tonnes grading 0.908% U3O8 in the Indicated category containing 1,579,000
pounds U3O8 at a cut-off grade of 0.05% U3O8.
‒ All resources are within 35 m of surface.
This resource is included in a technical report on the Hidden Bay property with an effective date of February 15, 2011 available online
under UEX’s profile at www.sedar.com.
TSX: UEX
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32. WEST BEAR DEPOSIT

The West Bear Deposit is a classic, unconformity-hosted uranium deposit developed under
shallow Athabasca sandstone cover above a conductive graphitic gneiss unit.

The near-surface nature of the mineralization is amenable to shallow open-pit mining.
35 m
TSX: UEX
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33. Project Summary
Shea Creek





(1)
Largest undeveloped uranium resource in
Canada’s Athabasca Basin
49.1% owned by UEX in partnership with
AREVA Resources Canada Inc.
Kianna, Anne, Colette and 58B contain an
estimated 67.7 million lbs U3O8 Indicated
and 28.2 million lbs U3O8 Inferred mineral
resources(1)
Potential to grow our interest in known
resources by up to 0.9% and our interest by
up to 49.9% in future resources discovered
by funding additional exploration at Shea
Creek beyond the budgets proposed by the
project operator

Sixth largest undeveloped uranium
resource in the Athabasca Basin

100% owned by UEX Corporation

Positive Preliminary Assessment

Project will be advanced further when
uranium commodity price justifies

Horseshoe, Raven and West Bear are
host to an estimated 36.6 million lbs
U3O8 Indicated and 2.7 million lbs U3O8
Inferred mineral resources(2)
Shea Creek resources are open in almost
every direction and have excellent
potential for significant expansion as
exploration continues

Infrastructure near Hidden Bay is well
developed, with two operating uranium
ore processing facilities in the local area
See “Shea Creek - Resources” on page 14 for % U3O8 grades and % U3O8 cut-off.
TSX: UEX
Hidden Bay
(2)
See “Horseshoe & Raven Resources” on page 28 for % U3O8 grades and % U3O8 cut-off.
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www.uex-corporation.com

34. Growth Strategy
Our primary objectives:
 To continue the exploration and development work required to
delineate and develop economic uranium resources at the Shea
Creek Project;
 To advance the development process at the Horseshoe, Raven and
West Bear uranium deposits to a production decision;
 To maintain, explore and advance to discovery our other uranium
projects; and
 To pursue a diversified portfolio of uranium projects from early
exploration through to development and production.
TSX: UEX
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35. Looking Ahead
Shea Creek
Hidden Bay
Expansion of mineral resources
into deposits of global significance
Advancing toward a
production decision
TSX: UEX
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36. TSX: UEX
International OTC Markets
PRESENTATION
UEXCF.PK
Frankfurt: UXO.F
For more information:
UEX Corporation
ELEMENTS
Suite 1007 – 808 Nelson Street
Vancouver, BC V6Z 2H2
www.uex-corporation.com
Investor and Media Inquiries Contact:
Roger Lemaitre, President & CEO
+1 (604) 669-2349
uex@uex-corporation.com