OTCQX: UWEFF



U3O8 Corp. completes $3.16 million private placement NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR U.S. NEWSWIRES

Toronto, Ontario - January 11, 2013 - U3O8 Corp. (TSX: UWE; OTCQX: UWEFF), a Canadian-based company focused on exploration and resource expansion of uranium and associated commodities in South America, has completed the final tranche of its previously announced non-brokered private placement for gross proceeds of $2,315,500 through the issuance of 10,525,000 units ("Units") at $0.22 per Unit (the "Offering"). Together with the first tranche which closed on December 28, 2012, the Offering raised total proceeds of $3,161,694 through the issuance of 14,371,337 Units.
Each Unit consisted of one common share of U3O8 Corp. ("Share") and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder to purchase one Share at $0.30 per Share for a period of 24 months.
All securities issued under the Offering are subject to a statutory 4-month hold period expiring on April 29,
2013 for the first tranche and on May 12, 2013 for the final tranche. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
The net proceeds will be used to fund ongoing work building on the positive Preliminary Economic Assesment ("PEA") recently announced on U3O8 Corp's initial deposit in Colombia, for its exploration projects in Argentina and Guyana, and also for general corporate purposes. Insiders of U3O8 Corp. purchased, directly or indirectly, approximately $2.5 million of the Offering. Of this total, $2.2 million was satisfied by the issuance to U3O8 Corp. of common shares in Pinetree Capital Ltd. (TSX: PNP), which are subject to a statutory hold period expiring on May 12, 2013.

About U3O8 Corp.

U3O8 Corp. is an advanced 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. In just one year, U3O8 Corp's uranium resources have grown 7-fold with deposits now in Colombia, Argentina and Guyana comprising of: