U3O8 Corp. Files NI 43-101 Technical Report on the Uranium, Phosphate & Vanadium Resources on the Berlin Project, Colombia

U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on exploration
and resource expansion of uranium and associated commodities in South America,
reports the filing of the National Instrument 43-101 ("NI 43-101") Technical
Report on the Berlin Project, Colombia, following the company's press release on
January 18, 2012 that announced a maiden uranium, phosphate and vanadium
resource estimate as follows:


Uranium Resource: 



--  Indicated: 1.5 million pounds ("mlb") U 3O8 (0.6 million tonnes at a
    grade of 0.11% U3O8); and 
--  Inferred: 19.9mlb U3O8 (8.1 million tonnes at a grade of 0.11% U3O8). 



Contained in the same mineralized layer as the uranium resource, are inferred
resources of: 




--  Phosphate: 0.8 million tonnes (8.7 million tonnes at a grade of 9.3%
    P2O5); and 
--  Vanadium: 97mlb V2O5 (8.7 million tonnes at a grade of 0.50% V2O5). 



The NI 43-101 resource has been estimated on only the southernmost three
kilometres ("km") of a 10.5km mineralized trend on the Berlin Project. The
tightly constrained, continuous, tabular unit of the uranium-bearing layer at
Berlin results in minimal change of the resource size at various uranium cut-off
grades. For example, doubling the cut-off grade from 0.04% to 0.08% U3O8 results
in only a 3% decline in the resource (Table 1). In addition, the other
commodities, such as vanadium, phosphate and yttrium, generally occur in a
thicker layer that extends beyond the uranium mineralized unit. This feature of
the mineralization suggests the strong possibility of increasing the resource of
the other elements at Berlin once mining and processing cost parameters have
been defined; and thereafter, a cut-off value based on dollar rock-value will
likely be used for resource estimation instead of a specific uranium grade as
was used in the current resource estimate.


The plan for 2012 is to continue drilling with the goal of increasing the Berlin
resource to 40 to 50mlb(1) of uranium, while ongoing exploration drilling will
aim to outline the size potential of the entire 10.5km mineralized trend. With
an initial NI 43-101 resource estimated and positive metallurgical results
defining efficient extraction of a suite of commodities at Berlin, a scoping
study is planned to commence.


(1) A historic (non NI 43-101 compliant) resource of 12.9 million tonnes at
0.13% U3O8 (38mlb U3O8) was reported on Berlin in Castano, R. (1981), Calcul
provisoire des reserves geologiques de Berlin, sur la base des resultants des
sondages, Unpublished Minatome report, 15p. based on only 11 widely-spaced drill
holes, 20 trenches and three adits, and is not considered a NI 43-101 compliant
resource. The historic resource is regarded by U3O8 Corp. as merely an
indication of the uranium resource potential of the southern 4.4km of the 10.5km
long syncline. The historic resource did not include estimates for other
commodities. U3O8 Corp. has now defined an initial multi-commodity NI 43-101
resource on just the southernmost 3km of the Berlin trend.


Table 1 - Uranium Resource Estimate Summary

A summary of the uranium resource estimated on the southern 3km of the 10.5km
mineralized trend in the Berlin Project at various U3O8 cut-off grades is
detailed below, which estimate is effective as of January 17, 2012. The
recommended cut-off grade of 0.04% U3O8 has been used for the reported uranium
resource.




                --------------------------------------------
                          Mineralized                       
                             Material             Contained 
                 Cut-Off     (million     Grade     Uranium 
                  U3O8 %      tonnes)    U3O8 %  (U3O8 mlb) 
                --------------------------------------------
                             Indicated Resource             
                --------------------------------------------
                    0.04          0.6      0.11         1.5 
                --------------------------------------------
                    0.05          0.6      0.11         1.5 
                --------------------------------------------
                    0.06          0.6      0.11         1.5 
                --------------------------------------------
                    0.07          0.6      0.11         1.5 
                --------------------------------------------
                    0.08          0.6      0.11         1.5 
                --------------------------------------------
                    0.09          0.6      0.11         1.5 
                --------------------------------------------
                    0.10          0.5      0.11         1.2 
                --------------------------------------------
                             Inferred Resource              
                --------------------------------------------
                    0.04          8.1      0.11        19.9 
                --------------------------------------------
                    0.05          8.0      0.11        19.7 
                --------------------------------------------
                    0.06          8.0      0.11        19.7 
                --------------------------------------------
                    0.07          7.9      0.11        19.5 
                --------------------------------------------
                    0.08          7.7      0.11        19.2 
                --------------------------------------------
                    0.09          6.8      0.12        17.5 
                --------------------------------------------
                    0.10          5.6      0.12        15.0 
                --------------------------------------------
                Figures may not add up due to rounding.     



Table 2 - Resource Estimate Summary for Phosphate, Vanadium and Other Metals

A summary of the initial Inferred Resource estimate for other commodities in the
southern 3km of the 10.5km mineralized trend in the Berlin Project at a cut-off
grade of 0.04% (400ppm) U3O8 is shown below.




----------------------------------------------------------------------------
 Mineralized         Commodity        Grade of        Quantity of Commodity 
 Material                             Resource        Contained in Resource 
----------------------------------------------------------------------------
                     Phosphate            9.30%          0.8 million tonnes 
               -------------------------------------------------------------
                      Vanadium            0.50%           97 million pounds 
               -------------------------------------------------------------
 8.7 million           Yttrium          500ppm                 4,300 tonnes 
               -------------------------------------------------------------
 tonnes              Neodymium          100ppm                   880 tonnes 
               -------------------------------------------------------------
                        Nickel            0.23%           45 million pounds 
               -------------------------------------------------------------
                    Molybdenum          600ppm            12 million pounds 
               -------------------------------------------------------------
                       Rhenium            7ppm                    59 tonnes 
----------------------------------------------------------------------------



The NI 43-101 Technical Report is dated March 2, 2012 and titled "Berlin
Project, Colombia, National Instrument NI 43-101 Report", which is consistent
with the resource announced in the press release dated January 18, 2012. The
report can be viewed on SEDAR at www.sedar.com. The report was undertaken by Mr.
Neil Inwood, a Fellow of The Australasian Institute of Mining and Metallurgy,
who is employed by Coffey Mining Pty Ltd, and visited the Berlin site in May
2011. Mr. Inwood has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the activity which
he is undertaking, to qualify as a Competent Person as defined in the 2004
Edition of the "Australasian Code for Reporting of Mineral Resources and
Reserves" and as a "qualified person" fo r purposes of NI 43-101. The disclosure
contained in this news release relating to the Mineral Resource set forth above
has been prepared under the supervision of, and verified by, Mr. Inwood and is
included herein with his consent.


All other scientific and technical information contained in this news release
has been prepared under the supervision of, and verified by Dr. Richard Spencer,
P. Geo, President & CEO of U3O8 Corp., a "Qualified Person" within the meaning
of NI 43-101.


About U3O8 Corp.

U3O8 Corp.is a Toronto-based exploration company focused on explorationand
resource expansion of uranium and associated commodities in South America - a
promising new frontier for exploration and development. U3O8 Corp. has one of
the most advanced portfolios of uranium projects in the region comprising NI
43-101 compliant resources in Guyana, Argentina and Colombia. Additional
information on U3O8 Corp. is available on the company's web site at
www.u3o8corp.com.


Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of U3O8 Corp., including,
but not limited to, the impact of general economic conditions, industry
conditions, the timing of laboratory results and preparation of technical
reports, volatility of commodity prices, risks associated with the uncertainty
of exploration results and estimates and that the resource potential will be
achieved on exploration projects, currency fluctuations, dependence upon
regulatory approvals, and the uncertainty of obtaining additional financing and
exploration risk. There is no assurance that the further exploration on the
Berlin Project will add to U3O8 Corp's resource base in the short-term, or at
all. Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.