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News from Marketwire

Uranium Participation Corporation Reports Net Asset Value at May 31, 2009

11:27 EDT Monday, June 15, 2009

TORONTO, ONTARIO--(Marketwire - June 15, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Uranium Participation Corporation ("Uranium Corp")(TSX:U) reports its net asset value at May 31, 2009 was CDN$609,873,000 or CDN$7.12 per share. As at May 31, 2009, Uranium Corp's investment portfolio consisted as follows:


----------------------------------------------------------------------------
(in thousands of Canadian dollars,                                    Market
 except quantity amounts)              Quantity           Cost         Value
----------------------------------------------------------------------------

Investments in Uranium:
 Uranium oxide in concentrates 
  ("U3O8")                        5,425,000 lbs     $  262,565    $  291,371
 Uranium hexafluoride ("UF6")     1,492,230 KgU     $  271,466    $  222,446

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                                                    $  534,031    $  513,817
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 U3O8 average cost and market
  value per pound:
   - In Canadian dollars                            $    48.40    $ 53.71(1)
   - In United States dollars                       $    43.37    $   49.00 
 UF6 average cost and market 
  value per KgU:
   - In Canadian dollars                            $   181.92    $149.07(1)
   - In United States dollars                       $   168.15    $  136.00
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(1) Converted at the May 31, 2009 exchange rate of $1.0961.

Uranium Corp has agreed to purchase 100,000 pounds of U3O8 for US$4,600,000 and 470,000 KgU as UF6 for US$62,000,000. Delivery of the U3O8 is anticipated in June 2009 and delivery of the UF6 is anticipated at various dates over the balance of the 2009 calendar year. These commitments will be funded from the proceeds of Uranium Corp's public offering which closed on May 28, 2009 for gross proceeds of approximately CDN$103,608,000.

About Uranium Participation Corporation

Uranium Participation Corporation is an investment holding company which invests substantially all of its assets in uranium oxide in concentrates (U3O8) and uranium hexafluoride (UF6) (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumparticipation.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Uranium Participation Corporation
Ron Hochstein
President
(416) 979-1991 Ext. 232
or 
Uranium Participation Corporation
James Anderson
Chief Financial Officer
(416) 979-1991 Ext. 372

© Marketwire


 

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