U3O8 Corp. Shareholders Approved All Matters at Annual & Special Meeting

TORONTO, ONTARIO, Jun 30 (MARKET WIRE) --
U3O8 Corp. (TSX VENTURE: UWE), ("U3O8 Corp." or "the Corporation"), a
Canadian uranium exploration company, announced the results of its 2009
Annual and Special Meeting held earlier today.

A total of 11,338,076 shares were represented in person or by proxy at
the meeting, representing approximately 49.2% of U3O8 Corp's outstanding
common shares. Shareholders of the Corporation approved the following
resolutions:

- the re-election of Mr. Patrick Anderson, Dr. Keith Barron, Mr. Bryan
Coates, Mr. David Constable and Dr. Richard Spencer as directors of the
Corporation for the ensuing year;

- the reappointment of KPMG LLP, Chartered Accountants, as auditors of
the Corporation;

- the approval of a new stock option plan for the Corporation, and all
previous stock option plans being hereby terminated; and

- the confirmation of a new By-Law No. 2.

For further details on each of the above matters, please refer to the
management information circular of the Corporation dated May 29, 2009
available on SEDAR at www.sedar.com.

About U3O8 Corp.

U3O8 Corp. is a Canadian uranium exploration company based in Toronto,
Canada. Currently focused on uranium exploration in the Roraima Basin in
Guyana, South America, U3O8 Corp's primary business objective is to
explore, develop and acquire uranium projects. The company is well funded
with over $7.5 million held solely in cash and Canadian chartered
bank-backed Guaranteed Investment Certificates.

U308 Corp. has exclusive uranium exploration rights in an area covering
approximately 1.3 million hectares that straddles the edge of the Roraima
Basin in Guyana. The company is advancing a two-pronged exploration
strategy that focuses on:

- Exploration for multiple uranium-bearing structures within structural
systems in the basement adjacent to the Roraima Basin with the concept
that the individual breccia zones could potentially aggregate to a
significant total resource; and

- Exploration for unconformity-related uranium deposits near the base of
the Roraima Basin, which are similar to those of the prolific Athabasca
Basin in Saskatchewan.

For further information on the company's properties, please refer to the
technical reports prepared for the company by Dahrouge Geological
Consulting Ltd. and dated September 15, 2006 as amended and restated
December 12, 2006; and the Nation Instrument 43-101 report titled "A
Technical Review of the Aricheng North and Aricheng South Uranium
Deposits in Western Guyana for U3O8 Corp. and Prometheus Resources
(Guyana) Inc." by Watts, Griffis and McOuat dated January 14, 2009,
available on SEDAR at www.sedar.com and on the company's website
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, volatility of commodity prices,
risks associated with the uncertainty of exploration results and
estimates, currency fluctuations, dependence upon regulatory approvals,
the uncertainty of obtaining additional financing and exploration risk.
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.

U3O8 Corp. (TSX VENTURE: UWE)

Basic shares outstanding: 23,057,700

Fully diluted shares outstanding: 24,877,700

Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.

Contacts:
U3O8 Corp.
Nancy Chan-Palmateer
Vice President, Investor Relations
(416) 868-1491
nancy@u3o8corp.com

U3O8 Corp.
Richard Spencer
President & CEO
(416) 868-1491
richard@u3o8corp.com
www.u3o8corp.com

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