Uranium Valley Mines Ltd./Results: Annual General Meeting of Shareholders and Corporate Update

Uranium Valley Mines Ltd. (TSX VENTURE:VZZ) (hereinafter "Uranium Valley" or the
"Company") announces the results of its Annual General Meeting of Shareholders
(the "Meeting") held on May 16, 2012, in Montreal, Quebec. At the Meeting,
shareholders approved all resolutions put before them by management, including
the election of all director nominees, the appointment of the auditor, and the
approval of the previously adopted stock option incentive plan, as required
annually by the policies of the TSX Venture Exchange. 


Results of the Meeting 

Elections of Directors 

The shareholders re-elected Messrs. Glenn J. Mullan, Andrew T. Pepper, Michael
H. Wilson, and Dr. C. Jens Zinke. Each shall service the Company as directors
until the next annual general meeting of shareholders Messrs. Pepper and Wilson
are considered to be independent pursuant to applicable securities legislation. 


Appointment of the Auditor 

The shareholders re-appointed Raymond Chabot Grant Thornton LLP, Chartered
Accountants as the Company's auditor for the ensuing year. 


Annual Approval of the Uranium Stock Option Incentive Plan 

The shareholders voted in favour of the resolution pertaining to the annual
approval of the Company's stock option incentive plan.  


Corporate Update 

Officer Appointment



Chief Executive Officer:                Glenn J. Mullan
                                                       
Chief Financial Officer and Secretary:  Daniel Poisson 



Board Committees 

The Board of Directors has crystallized its standing board committee, namely the
Audit Committee, which is comprised of a majority of independent directors. 


About Uranium Valley Mines Ltd.: Uranium Valley Mines Ltd. holds title to
interests previously held by Golden Valley Mines Ltd. in uranium properties,
being the Mistassini-Otish Property (previously under joint venture with Lexam
VG Gold Inc.) and a joint venture uranium property in Saskatchewan (the
Beartooth Island Property), and may acquire and generate other uranium ventures
in Canada and elsewhere. 


Forward Looking Statements: 

This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Golden Valley
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of Golden Valley's management on the date the statements
are made. Except as required by law, Golden Valley undertakes no obligation to
update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.