Toronto, Ontario - May 2nd, 2017 - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) ("U3O8 Corp." or the "Company") reports on recent developments in the Argentine nuclear industry and their relevance to the Company's Laguna Salada uranium-vanadium deposit, which is located in Argentina.   

The President of the Argentine National Atomic Energy Commission ("CNEA") has reconfirmed that Argentina aims to capture 15%-20% of the international market for small modular nuclear reactors ("SMR") with its CAREM design.  CNEA refers to estimates that the international market for SMR's could be as large as US$400 billion by 2030-2035.  Capturing a reasonable proportion of that market would have a notable and positive impact on the Argentine economy.  

During Argentine President Macri's official visit to the Netherlands last month, Argentine nuclear reactor designer and construction company, INVAP SE ("INVAP"), submitted a bid to construct the Pallas research reactor.  INVAP was selected as having presented the best technical offer in the original tender for the Pallas reactor, but the Netherlands cancelled the planned construction in the wake of the global financial crisis in 2009.  The Pallas reactor is to replace the Petten research reactor that has been producing radioisotopes for the medical diagnostic sector, as well as for other industrial applications, for over 55 years.  The Petten research centre supplies 60% of Europe's medical isotope requirements.  

"Argentina's reach into the international nuclear market would benefit from local uranium production so that the Argentine nuclear sector could offer a turn-key product that includes: reactor design, construction, fuel supply and fuel rod manufacture," said U3O8 Corp.'s President and CEO, Dr Richard Spencer.  "U3O8 Corp. is well placed to support Argentina's local nuclear energy industry, as well as its international aspirations since, to my knowledge, U3O8 Corp. is the only company in Argentina that has a NI 43-101 uranium resource and preliminary economic assessment ("PEA").  Our current work is focused on refining the metallurgical methods described in the PEA, with the aim of further reducing estimated production costs.  Results of that test work should be available in the next month."     

U3O8 Corp.'s presentation at the Nuclear Industry Summit Latin America 2017 held in Buenos Aires, Argentina is available on the Company's website at http://www.u3o8corp.com/nuclear-industry-summit-latin-america-2017/

U3O8 Corp. will also be making a presentation at the Investing in LatAm Mining Cumbre to be held in Santiago, Chile, on July 11th and 12th, 2017.

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