U3O8 Corp.

U3O8 Corp.

June 17, 2008 22:25 ET

CORRECTION by U3O8 Corp.: U3O8 Corp. Reports First Uranium Mineralization in the Accori Target Area

TORONTO, ONTARIO--(Marketwire - June 17, 2008) - U3O8 Corp. (TSX VENTURE:UWE) - A correction is issued with respect to the press release disseminated today at 9:00 AM ET. The grade results for drill hole ACCON-C-002 should read 0.080% and 1.6 lb/st U308. Table 1 below reflects the correction.

Table 1. Summary of significantly mineralized intercepts cut in the first
four holes drilled on the Accori North C structure. Total metreage drilled
in the four holes was 681 metres.

Bore hole data Interval Grade
Total From To Interval true width U3O8 U3O8
Hole Depth (m) (m) (m) (m) (m) % lb/st
61.5 68.0 6.5 5.4 0.061 1.2
ACCON-C-0001 130.7 ---------------------------------------------------
74.0 79.5 5.5 4.6 0.068 1.4
151.7 20.5 29.0 8.5 7.0 0.080 1.6
ACCON-C-0002 Including 28.0 29.0 1.0 0.8 0.258 5.2
111.5 121.0 9.5 7.9 0.109 2.2
33.0 36.0 3.0 2.5 0.074 1.5
187.8 ---------------------------------------------------
102.0 135.5 33.5 27.8 0.083 1.7
ACCON-C-003 ---------------------------------------------------------------
Including 116.0 129.5 13.5 11.2 0.112 2.2
Including 124.5 129.5 5.0 4.1 0.145 2.9
ACCON-C-004 211.0 51.0 56.0 5.0 4.1 0.056 1.1
Note: lb/st is an abbreviation for pounds per short ton. 1 short ton equals
2,000lbs or 0.907 metric tonnes.

About U3O8 Corp.

U3O8 Corp. is a Canadian uranium exploration company based in Toronto, Canada. Currently focused on exploration in the Roraima Basin area of Guyana, South America, U3O8 Corp.'s primary business objective is to explore, develop and acquire uranium projects in the Americas. The Company is well funded with over $18 million held solely in cash and Canadian chartered bank-backed Guaranteed Investment Certificates. At current rates of exploration expenditure, the company expects to be funded up until 2010.

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 includes:

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

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

For further information on U3O8 Corp's properties, please refer to the technical report prepared for the company by Dahrouge Geological Consulting Ltd. and dated September 15, 2006 as amended and restated December 12, 2006, available on SEDAR at www.sedar.com and on the company's website www.u3o8corp.com. Potential quantity and grade are conceptual in nature.

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.


Basic shares outstanding: 23,057,700

Fully diluted shares outstanding: 25,281,000

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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