U3O8 Corp. Grants Stock Options To New Director - A Key Specialist - And Waives Fees

U3O8 Corp. Grants Stock Options to New Director - a Key Specialist - and Waives Fees

07:55 EST Monday, December 11, 2017 

TORONTO, Dec. 11, 2017 /CNW/ - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) ("U3O8 Corp." or the "Company") is pleased to announce that it has granted stock options ("Options") to Mr. David Marsh, who was elected to the Company's Board of Directors ("Board") at its Annual and Special Meeting on June 22, 2017.  Mr. Marsh's extensive and unique experience in the processing, optimization and extraction of uranium and battery commodities are skills essential to the Company achieving its priorities for advancing the Laguna Salada uranium-vanadium deposit in Argentina including: 

• Proof of concept uranium and vanadium extraction from bulk samples; and
• Pilot plant test work to refine operational and capital cost estimates. 

U3O8 Corp.'s President & CEO commented, "Dave Marsh has already had an impact on the Company by completing a thorough review of the process flow-sheet that forms the core of the Preliminary Economic Assessment ("PEA").  Based on his extensive experience, he has identified various areas in which the Laguna Salada flow-sheet has potential to be simplified.  If this simplification proves to be possible, significant reductions in operational and capital cost estimates may be achievable.  A second area in which we have potential to drive down operational cost estimates is through exploration that is currently underway, successfully identifying additional higher-grade channels at the base of the gravel layer.  These project-orientated initiatives would also be boosted if Argentina's federal government implements a proposed reduction in corporate income tax".

Dave Marsh's Mineral Processing and Metal Extraction Experience
Mr. Marsh was involved with initial test work and development of alkaline leach as the optimal processing technique for the Langer Heinrich uranium deposit – and the adoption of the technology as a go-to standard for the uranium industry.  Alkaline leach is the technology that is most appropriate for the extraction of uranium and vanadium from the Laguna Salada Deposit.

Stock Option Grant
Mr. Marsh has been granted 57,500 stock options that have a strike price of C$0.51 and have a term of five years.  The options vest in tranches of 25%, with 25% vesting immediately and the remaining tranches at six-monthly intervals with the final vesting date being June 11, 2019. 

Board Compensation Related to Market Conditions
Mr. Marsh has adopted the approach taken by the Company's other independent directors to forego compensation.   The Board took the decision to waive directors' fees in January, 2015 in recognition of the prevailing difficult uranium market conditions.  "The recent production cuts announced by the largest and lowest-cost uranium producers, KazAtomProm and Cameco, could result in a fundamental rebalancing of the international market that should lead to a strengthening uranium prices," said U3O8 Corp.'s chairman, Mr. David Constable.  "We anticipate that uranium could follow the lead of the vanadium market in which production cuts in an environment of increasing demand have led to a rally in the price of the metal."

Technical Information & Cautionary Note
A PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the PEA assessment will be realized.

Dr. Richard Spencer, P.Geo., CGeol., President and CEO of U3O8 Corp. and a Qualified Person as defined by National Instrument 43-101, has approved the technical information in this news release relating to the Laguna Salada Deposit and the related PEA.U308 Corp. Grants Stock Options To New Director-A