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UEX Commences Winter 2012 Hidden Bay Drilling Program

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UEX Corporation (UEX.TO) announced today that its winter 2012 diamond drilling program has commenced on its 100%-owned Hidden Bay Project in the eastern Athabasca Basin of northern Saskatchewan, Canada. Drilling totaling approximately 3,000 metres will focus on targets in the vicinity of the Horseshoe and Raven deposits.

Because of the successful results from drilling the Horseshoe and Raven deposits over the last several years, this drilling program will continue to test additional geological and geophysical targets in the area, UEX said. These outlying exploration targets include areas with resistivity and gravity anomalies similar to those at the Horseshoe and Raven deposits, suggesting the possibility of new zones of clay alteration which may be associated with uranium mineralization. This drill program will also test structural targets where projections of known faults (such as the Dragon Lake Fault) may extend across potentially favourable lithologies that form preferential hosts to uranium mineralization in other parts of the district.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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