GoviEx Uranium Announces Board Changes and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 19, 2015) - GoviEx Uranium Inc. (CSE:GXU) announced today the appointment of Anthony Abbenante as Ivanhoe Industries, LLC's appointee to the company's Board of Directors.

Ivanhoe Industries became a significant strategic shareholder of GoviEx through a private placement announced on September 29, 2015.

Mr. Abbenante is President of Ivanhoe Industries, LLC, a U.S.-based, privately held company actively engaged in supporting technology, energy and natural resource companies worldwide that is backed by several prominent entrepreneurs, including Robert Friedland. He formerly was an attorney at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, a U.S. law firm, where he worked in the corporate transactional group based out of the firm's New York and Washington, D.C. offices. He has a degree in Foreign Affairs from the University of Virginia and a Law degree from American University in Washington, D.C.

GoviEx also announced that Rachid Benyakhlef and David Marsh have stepped down as active board members. Mr. Marsh will continue to support the company in an advisory capacity through the board's technical committee.

"We welcome Tony to the board and thank Rachid and David for their valuable contributions during their tenure. We also look forward to David's continued technical input through his advisory role," said Govind Friedland, GoviEx's Executive Chairman.

Incentive stock options granted

GoviEx announced that pursuant to its Stock Option Plan, it has granted incentive stock options to certain directors, officers, employees and consultants to purchase up to an aggregate of 6,725,000 common shares in the capital stock of the company.

The options are exercisable at a price of $0.10 per share. The options are subject to a three-year vesting period, with 25% vesting immediately and an additional 25% on each anniversary of the date of grant thereafter until fully vested. The options expire on November 19, 2020.

About GoviEx Uranium Inc.

GoviEx is a Canadian mineral resource company whose principal objective is to become a significant uranium producer through the continued exploration and development of its Madaouela Project and its other uranium properties in Niger. Toshiba Corporation, Ivanhoe Industries and Cameco Corporation are major shareholders of GoviEx.

Visit GoviEx's website at www.goviex.com.