REG-U3O8 Holdings Plc: Interim Results

U3O8 Holdings plc

Interim Results For The Six Months Ended 31 March 2009

HIGHLIGHTS

* Radon anomalies identified on the flagship Chilean uranium project,
Peralillo, confirming the presence of uranium bearing minerals

* Proposed expansion of the Company into Argentina following the signing of a
Letter of Intent with Entropy Resources S.A., the owner of three copper and
gold projects in the San Juan province

* A fundraising of GBP271,782 completed in February 2009

POST-PERIOD HIGHLIGHTS

* Radiometric survey, mapping, and radon survey commenced at Poñen uranium
project

* Continued due diligence on Entropy Resources S.A.

* Third investment made by Southern Star Investments plc, acquiring 1,250,000
shares and 625,000 options in AIM-listed Sirius Exploration plc

CHIEF EXECUTIVE'S STATEMENT

We have made solid progress on the development of the Company since my last
statement, on a project basis, as well as corporate development. The highlight
of the period was the signing of the Letter of Intent with the Argentine
company, Entropy Resources S.A., in January, which presents us with the
opportunity of expanding our presence in South America to traverse both Chile
and Argentina. Entropy also provides U3O8 with the opportunity of diversifying
its metal base to encompass uranium, copper, and gold. We will be updating
shareholders on this opportunity in due course.

We have an enviable position in Chile, being the country's major uranium play,
and were included in the June 2009 issue of independent mining magazine,
Minería Chilena, in a feature article "Apostando por el uranio". Our two major
uranium projects in Chile, Peralillo and Poñen, have returned strong results to
date, and we are optimistic as to their potential.

PERALILLO URANIUM PROJECT

At the start of February we reported that at Peralillo radon surveying had been
undertaken on three of four anomalous target areas that had been defined
through a combination of soil sampling and radiometrics. The radon surveying
returned positive results, with the following targets being identified:

NORTH TARGET

A large, one square kilometre sized radon anomaly has been outlined at the east
end of the North target, and a smaller 0.25 square kilometre anomaly at the
west end. The area between these two anomalies, about six square kilometres,
remains to be surveyed. The anomaly covers the contact between the fine and
coarse grained phases of the intrusive.

SOUTH TARGET

Several small anomalies covering an aggregate area of about one square
kilometre have been outlined at the east end of the South target. These
anomalies cover the contact between the fine and coarse grained phases of the
intrusive.

SOUTH WEST TARGET

A small, 0.25 square kilometre sized radon anomaly has been outlined at the
west end of the South West target. The anomalies are underlain by clastic
sedimentary rocks of the Triassic successor basin.

The next stage of development at Peralillo will involve trenching and
geophysics, prior to commencing drilling. I believe that our cautious optimism
regarding the project will prove well founded as we progress its development.

POÑEN URANIUM PROJECT

Work recommenced at the Poñen uraniferous pegmatite project in May, comprising
mapping, sampling of outcropping pegmatite occurrences, and orientation radon
gas surveys, using the EPerm Electret chambers that were also used for radon
surveying at Peralillo. The radon measurements will help to identify "blind"
(non-outcropping) occurrences of pegmatite, and it is envisaged that the
results from the current work programme will serve to identify targets for a
drilling programme, which it is hoped will commence later in 2009.

ENERGY IN CHILE

Chile is looking ever closer at nuclear power as an obvious viable solution to
provide it with the capacity necessary for its forecast economic growth and
predicted future electrical demand. As I reported last year, it is forecast
that Chile's demand for electricity will double by 2023 and triple by 2032. The
country remains heavily reliant upon fossil fuels for its electricity, and it
is imperative that it looks to alternative cleaner sources for its power.

Earlier this month a report by researchers at the Universidad de Chile was
released, which envisages coal-fired power plants making up the majority of new
generation capacity within Chile, which will serve to quadruple greenhouse gas
emissions over the next 20 years. The report forecasts that combined emissions
from all sources within the country would result in a per-capita emissions rate
of 13.8 tonnes per individual, which would be higher than any other country in
the Americas, except for the United States.

The growing awareness within Chile of the impending scenario is seeing an
increasing number of noted individuals within the country speaking out in
favour of nuclear power. Ricardo Lagos, the President of Chile from 2000 -
2006, and who is now a United Nations special envoy on climate change said
recently that "We have to seriously study nuclear energy in Chile", whilst
Marcelo Tokman, the incumbent Energy Minister, has also spoken in favour of
nuclear power. Nuclear power is also sought by mining companies with operations
in the north of the country so as to improve the economics of their projects.

SOUTHERN STAR INVESTMENTS PLC

In May we announced that U3O8's wholly-owned subsidiary, Southern Star
Investments plc, had made an investment of £28,125 in AIM-listed Sirius
Exploration plc, in return for 1,250,000 ordinary shares and 625,000 options
over ordinary shares, exercisable at 4.5p for two years from the date of issue.
Shares in Sirius closed 26 June at 3.88p valuing our stake on a mid-price basis
at £48,500.

Sirius is the third investment made to date by Southern Star Investments, and
is in keeping with our strategy of taking positions in mining and
energy-related companies that have the potential of creating value for the
Group.

FINANCIALS

The financial results for the six months to 31 March 2009 show a loss of £
327,037. The basic loss per share was 0.5864p. The loss is attributable to the
development of the Company's uranium projects in Chile, the potential
acquisition of Entropy Resources S.A., and administration expenses.

OUTLOOK

We have had a progressive first half of 2009, dominated by our due diligence of
Entropy Resources S.A., which is now reaching a close. Meanwhile, we have made
progress on the development of the two key uranium projects within our
portfolio in Chile, Peralillo and Poñen.

Like our peer group, the pace at which our project portfolio is developed is
linked to our availability to capital, and we are in the process of offering
existing investors the opportunity to acquire new shares in the Company at 2.5p
with a 12-month warrant at 5p for every two new shares taken up. Meanwhile,
discussions are ongoing with other parties that could serve to expedite the
Group's development.

U3O8 holds what is potentially a key strategic position within Chile for the
development of nuclear power. Under Law 18.248, which was passed on 14 October
1983, the Chilean mining code allows free claim to uranium, and gives the
Chilean Nuclear Energy Commission ("CCHEN") the first option to buy uranium
produced within the country. As such, U3O8 is operating in a favourable
environment toward uranium mining, and a country that would benefit from
implementing a nuclear power programme that would serve to reduce its
dependence on fossil fuels and assist in lowering its greenhouse gas emissions.

I would like to thank everybody connected to U3O8 for their hard work in the
development of the Company, to our shareholders for their ongoing support, and
I look forward to reporting progress at both a project and corporate level in
the near future.

Conrad Windham
Chief Executive Officer
30 June 2009

OPERATIONAL REPORT

This report summarizes the operational activities of U3O8 to the end of June
2009. This comprised fieldwork on the Poñen property located east of
Concepcion, Chile, and legal and technical due diligence (fieldwork and data
compilation) on the properties of Entropy Resources S.A. located in Argentina,
which is under an option to purchase. In addition to the above, U3O8 continued
to evaluate available projects in both Chile and Argentina that are prospective
for uranium, copper or gold. In total four projects were reviewed in detail,
two of which justify a field review that will be carried out during the third
quarter.

In January U3O8 signed a letter of intent for an option to purchase Entropy
Resources S.A., which controls three exploration projects. They are the Amiches
and San Francisco properties, located in the high Andes, which are prospective
for epithermal gold and silver deposits, and the Cerro Blanco property, located
in the foot hills of the Andes, which is prospective for a porphyry copper
deposit. All of these properties are in the pro-mining province of San Juan,
Argentina, where Barrick Gold's world-class Veladero gold mine is located.

Fieldwork, consisting of mapping and sampling was carried out at both the
Amiches and Cerro Blanco properties. No fieldwork was carried out on the San
Francisco property. At Amiches, mapping, sampling and PIMA alteration studies
focused on the main zone of alteration known as the "amfiteatro" alteration
zone. Results confirmed the earlier work that indicated small, scattered zones
of anomalous gold mineralization. The highest value obtained was 4.9 g/t. In
addition, a new zone of interest was discovered west of the main "amfiteatro"
alteration zone. Diagnostic alteration minerals were identified in samples
covering an area of 350 by 600 meters. This mineralogy is indicative of the
upper part of a high sulfidation precious metal deposit. The zone beneath is
considered to be highly prospective for gold mineralization.

At Cerro Blanco mapping and sampling was carried out on the intrusive and the
host volcanics in order to assess the extent of the copper mineralization and
to classify the porphyry so as to determine its potential for hosting
significant copper mineralization. The results of the work were mixed in that
they showed that the system has the potential to produce a significant deposit
but that the exposed extent of the favourable porphyry is limited. This
suggests that the target zone is not exposed at surface but is "blind" i.e.
located at depth, covered by the host volcanic rocks. Future work will entail a
geophysical survey to identify any possible targets. Two other areas of
alteration, Despoblados and La Fortuna remain to be evaluated.

Geological reconnaissance mapping and sampling in conjunction with radiometric
sampling (radon flux and "counts" measurements) is ongoing at the Poñen
project. The Poñen project is a zone of scattered uraniferous pegmatite
outcrops from which samples have been collected that gave values of 365 and 464
ppm uranium. No work was carried out at Peralillo during the reporting period.
As of mid-year U3O8 has the Peralillo project (22 pedimentos totalling 6,700
hectares) under option from third parties and the Poñen project (8 pedimentos
totalling 2,400 hectares), which it holds outright.

Mike Parr

Chief Geologist

30 June 2009

U3O8 HOLDINGS PLC GROUP OF COMPANIES

UNAUDITED RESULTS FOR THE 6 MONTHS TO 31 MARCH 2009

PROFIT AND LOSS ACCOUNT

PERIOD TO 31 PERIOD TO 31
/03/2009 /03/2008

£ £

CONTINUING OPERATIONS

Revenue - -

Administrative expenses (327,643) (226,601)

_________ _________

OPERATING LOSS (327,643) (226,601)

Finance costs - (3,149)

Finance income 606 3,603

_________ _________

LOSS BEFORE TAX (327,037) (226,147)

Taxation - -

_________ _________

LOSS FOR THE PERIOD (327,037) (226,147)

_________ _________

Basic loss per share (0.5864p) (1.1777p)

Diluted loss per share (0.4216p) (0.7216p)

Notes

1. The financial information for the period ended 31 March 2009 has not been
audited and does not constitute statutory accounts within the meaning of
Section 434 of the Companies Act 2006. It has however been subject to a review
by the company's auditors.

2. Basic loss per share has been calculated using the weighted average number
of shares of 55,771,712 (2008 - 19,202,239). Diluted loss per share has been
calculated using the weighted average number of shares of 77,569,332 (2008 -
31,341,184).

3. The Directors of the issuer accept full responsibility for this
announcement.

END