U3O8 Corp's Infill Drilling on Track Towards Maiden NI 43-101 Resource Estimate 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 assays from further trenching and another 21 bore holes in the 19,000
metre ("m") infill drilling program underway on the Berlin Project in Caldas
Province, Colombia. The Berlin Project contains a sediment - hosted,
multi-commodity prospect with a historic resource(1) of 12.9 million tonnes at
an average grade of 0.13% U3O8(38 million pounds ("mlb") U3O8) estimated on the
southernmost 4.4 kilometres ("km") of a 10.5km long mineralized trend. This
historic work did not include estimates for other commodities, such as vanadium,
phosphate, rare earth elements, molybdenum and rhenium, which occur with the
uranium. 


"U3O8 Corp. is on schedule to complete infill drilling in the southern 3km of
the 10.5km prospective trend in the Berlin Project early in Q4. The resource
estimator has now been to site and the process has begun towards our aim of
generating a maiden, interim National Instrument 43-101 ("NI 43-101") resource
on the Berlin Project, as well as providing indicative initial metallurgical
test results by the end of 2011," said Dr. Richard Spencer, President and CEO of
U3O8 Corp. "These latest infill drilling results continue to demonstrate
excellent continuity of multi-commodity mineralization in the southern portion
of the prospective trend in the Berlin Project. Trenching continues to confirm
mineralization in the northern part of the property, which could substantially
expand the size of the project beyond the historic resource."


(1) The Berlin resource estimate is historical and is reported in Castano, R.
(1981), Calcul provisoire des reserves geologiques de Berlin, sur la base des
resultants des sondages, unpublished Minatome report, 15p. There has been
insufficient exploration work completed to verify the historic estimate and it
should not be relied upon as a NI 43-101 compliant resource. As the 38mlb U3O8
historic estimate is based on only 11 widely-spaced drill holes, 20 trenches and
three adits, it is regarded by U3O8 Corp. as merely an indication of the uranium
resource potential of the southernmost 4.4km of the 10.5km long syncline (Figure
1) containing the Berlin mineralization. U3O8 Corp. is currently undertaking an
infill drilling program with the aim of defining a mineral resource at Berlin.


Table 1 - Assay Results from Drilling in the Southern Part of the Berlin Project

Summary results for the bore holes drilled in Cross Sections 7, 8 and 9 in the
southern part of the Berlin Project(2)(Figures 1 and 2). For completeness,
results are tabulated for all bore holes drilled on each section and those holes
from which results were previously reported (see press release dated February
24, 2011) are highlighted in grey in the table.


To view Table 1 - Assay Results from Drilling in the Southern Part of the Berlin
Project, please visit the following link:
http://media3.marketwire.com/docs/908table1.pdf.


Table 2 - Assay Results from Trench TB34 in the Northern Part of the Berlin Project

Summary results for trench TB34 excavated in the northern part of the Berlin
Project(2) (Figure 1).




----------------------------------------------------------------------------
Trench                              Phosp-                                  
 Intercept      Uranium    Vanadium   hate Molybdenum Rhenium Silver Yttrium
----------------------------------------------------------------------------
                                                                            
                  U3O8         V2O5   P2O5         Mo      Re     Ag    Y2O3
             ---------------------------------------------------------------
         True                                                               
Trench  Width                                                               
 Number   (m)     % lbs/st        %      %        ppm     ppm    ppm     ppm
----------------------------------------------------------------------------
                                                                            
  TB34    1.2 0.135   2.70     0.67    2.1       92.0     0.1    3.7     904
----------------------------------------------------------------------------
(2) Assay results - lbs/st is an abbreviation for pounds per short ton. 1   
short ton = 2,000lbs or 0.907 metric tonnes. Potential quantity and grade   
are conceptual in nature. There has been insufficient exploration to define 
a mineral resource at the Berlin Project to date and it is uncertain if     
further exploration will result in the target being delineated as a mineral 
resource.                                                                   



Infill Drilling Program

U3O8 Corp. has now drilled 72 bore holes (16,050m) as part of a 19,000m infill
drill program being undertaken for resource estimation purposes on the southern
part of the Berlin Project. Assays from the 41 drill holes reported so far
confirm the continuity of mineralization along strike and across the Berlin
syncline, and also confirm consistent grades of uranium, vanadium, phosphate,
rare earth elements, molybdenum, rhenium and silver. Two drill rigs continue to
focus on resource drilling, while trenching is planned to advance along the
whole 10.5km trend, to be followed by drilling in due course. A consultant from
Coffey Mining of Australia, an independent consulting company, visited the
Berlin Project in June 2011, and the estimation process has begun towards the
goal of converting part of the historic resource into an initial 20-25mlb NI 43
-101 uranium resource(1) by the end of 2011.


Mineralization

The mineralized layer in the Berlin Project occurs as a canoe-shaped fold that,
in cross-section, has an asymmetric "U"-shape (Figures 3, 4 and 5). In order to
visualize the distribution of mineralization, the layer is shown as an
"unfolded", flat sheet in Figure 6. This diagram shows the distribution of each
pierce point, the point at which each bore hole intersected the mineralized
layer, as well as the distribution of trenches that were excavated where the
layer comes to surface. Each pierce point and trench location is coloured
according to its uranium grade-thickness value (the grade of the mineralized
interval multiplied by its thickness) in order to illustrate the continuity of
grade throughout the mineralized layer.


Quality Assurance and Quality Control ("QAQC")

QAQC are incorporated by reference to the press release dated February 24, 2011,
available on U3O8 Corp's web site at www.u3o8corp.com and on SEDAR at
www.sedar.com.


Dr. Richard Spencer, President & CEO of U3O8 Corp., a Qualified Person within
the definition of that term in NI 43-101 of the Canadian Securities
Administrators, has supervised the preparation of, and verified the technical
information in this release.


About U3O8 Corp.

U3O8 Corp. is a Toronto-based 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. U3O8 Corp. has
one of the most advanced portfolios of uranium projects in the region comprising
NI 43-101 compliant resources in Guyana and Argentina to significant historic
resources in Colombia.


For further information on U3O8 Corp's Berlin Project, refer to the technical
report entitled "Review of Historic Exploration Data from the Unaniferous Black
Shales of the Berlin Project and Chaparral Concession, Colombia: A guide to
future exploration" prepared by Richard Spencer and Richard Cleath dated March
23, 2010 and available at www.sedar.com. 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, 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 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.


To view: Figure 1 - Map Shows the Location of the Trenches and Drill Platforms
in the Berlin Project, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure1.pdf.


To view: Figure 2 - Drill Hole Location in the Southern Part of the Mineralized
Trend on the Berlin Project, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure2.pdf.


To view: Figure 3 - Cross Section 7, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure3.pdf.


To view: Figure 4 - Cross Section 8, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure4.pdf.


To view: Figure 5 - Cross Section 9, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure5.pdf.


To view: Figure 6 - Map of the "Unfolded" Mineralized Layer in the Southern Part
of the Berlin Project, please visit the following link:
http://media3.marketwire.com/docs/uwe908figure6.pdf.


To view the photo associated with this release, please visit the following link:
http://www.marketwire.com/library/20110907-BerlinProject800.jpg.