UEX Corporation announces closing of private placement

VANCOUVER, June 5, 2013 /CNW/ - UEX Corporation (TSX: UEX) ("UEX") is pleased 
to announce that it has closed its previously announced private placement of 
an aggregate of 6,350,000 flow-through common shares of UEX (the "Flow-Through 
Shares") at a price of $0.50 per Flow-Through Share for total gross proceeds 
to UEX of $3,175,000 (the "Private Placement"). Cameco Corporation has 
waived its pre-emptive right to participate in the flow-through Private 
A referral fee of $60,000 was paid in connection with the Private Placement. 
The gross proceeds from the Flow-Through Shares must be used to incur Canadian 
exploration expenses as defined by the Income Tax Act (Canada) by December 31, 
2014, to be renounced effective December 31, 2013. UEX intends to use the 
proceeds from the Flow-Through Shares to fund the two approved exploration 
programs at the Shea Creek Project which were announced March 20 and June 4, 
The Flow-Through Shares issued pursuant to the Private Placement are subject 
to a four month plus one day hold period expiring on October 6, 2013. 
About UEX 
UEX is a Canadian uranium exploration and development company actively 
involved in 17 uranium projects, including six that are 100% owned and 
operated by UEX, one joint venture with AREVA Resources Canada Inc. ("AREVA") 
that is operated by UEX, as well as nine joint-ventured with AREVA and one 
joint venture with AREVA and JCU (Canada) Exploration Company, Limited, which 
are operated by AREVA. The 17 projects, totaling 264,363 hectares (653,255 
acres), are located in the eastern, western and northern perimeters of the 
Athabasca Basin, the world's richest uranium belt, which accounts for 
approximately 15% of the global primary uranium production. UEX is currently 
advancing several uranium deposits in the Athabasca Basin which include the 
Kianna, Anne, Colette and 58B deposits at its 49%-owned Shea Creek Project, 
and the Horseshoe, Raven and West Bear deposits located at its 100%-owned 
Hidden Bay Project. Excluding the closing of this Private Placement, UEX 
currently has a cash position of approximately $10.4million. 
Forward-Looking Information 
This news release may contain statements that constitute "forward-looking 
information" for the purposes of Canadian securities laws. Such statements are 
based on UEX's current expectations, estimates, forecasts and projections. 
Such forward-looking information includes statements regarding the Private 
Placement, UEX's mineral resource and mineral reserve estimates, outlook for 
our future operations, plans and timing for exploration activities, and other 
expectations, intention 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 information. Such forward-looking information is based on 
certain factors and assumptions and is 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 information. 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 Canadian securities commissions on SEDAR. Many of these factors are 
beyond the control of UEX. Consequently, all forward-looking information 
contained in this news release is 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 information. 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. 
Graham C. Thody President & CEO 
UEX Corporation Suite 1007 - 808 Nelson Street Vancouver, BC Canada V6Z 2H2 
Tel: +1 (604) 669 2349 Fax: +1 (604) 669 1240 uex@uex-corporation.com 
SOURCE: UEX Corporation 
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CO: UEX Corporation
ST: British Columbia
-0- Jun/05/2013 20:58 GMT
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