U3O8 Corp.
TSX VENTURE : UWE

U3O8 Corp.

February 26, 2008 08:30 ET

U3O8 Corp. Reports 0.12% or 2.4 lbs per ton U3O8 over 25.2m from Aricheng South

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2008) - U3O8 Corp. (TSX VENTURE:UWE) ("U3O8" or the "Company") reports additional significant intercepts of uranium mineralization in Phase II drilling on the Aricheng South target area located in Reconnaissance Permit A, Guyana, South America.

To date the Company has completed two drill programs on the Aricheng South target including:

- Phase I, a 5 diamond drill hole campaign for 761 metres, results of which were released on August 1st, 2007 (available on SEDAR at www.sedar.com and at www.u3o8corp.com) and;

- Phase II, a 16 diamond drill hole program for a total of 2,066 metres, assay results of which are shown in Table 1 below.

As a result of the significant intercepts cut in the Phase I drill program at Aricheng South, the Phase II program focused on extending mineralization along strike and at depth at a spacing of approximately 25m between bore holes.



Aricheng South Phase II Highlights:
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Intersection Grade
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Hole # Core Estimated (i)lbs /
length In true width in % short ton
meters meters U3O8 U3O8
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ARS-006 24.0 23.4 0.104 2.1
-----------------------------------------------------------------
ARS-009 27.5 26.4 0.112 2.2
-----------------------------------------------------------------
ARS-010 26.0 25.2 0.120 2.4
-----------------------------------------------------------------
ARS-012 10.5 10.3 #0.210 #4.2
-------------------------------------------------------
Including 5.0 4.9 #0.356 #7.1
-----------------------------------------------------------------
ARS-020 1.0 1.0 #0.467 #9.3
-----------------------------------------------------------------
ARS-021 10.0 8.8 0.112 2.2
-----------------------------------------------------------------
(i) Note: 1 short ton equals 2,000lbs or 0.907 metric tonnes
# Note: Over-limit assays on samples with values greater than 0.4%
U3O8 are pending.


The location of drill holes relative to the ground scintillometer survey and previous drilling (results of which were released on August 1st, 2007) is shown in Figure 1. Mineralization at Aricheng South occurs in two sub-parallel east-west trending fault-breccia zones, termed the principal and secondary structures, in the Kurupung batholith. The northernmost, or principal, structure has been defined over a strike length of 270m and to a depth of approximately 95m below surface. The principal structure dips approximately 58 degrees to the north and the mineralized zone varies in width from 4m to 28.7m. A grade-thickness long section of the principal structure at Aricheng South is shown in Figure 2 which shows that mineralization remains open at depth.

The sub-parallel secondary structure is located approximately 60m to the south of the principal mineralized zone described above. Uranium mineralization has been traced for 130m along strike where bore holes that were drilled to intersect the principal structure penetrated sufficiently deeply to cut the secondary structure. The vertical extent of mineralization in the secondary structure has not yet been defined by drilling.

Dr. Richard Spencer, U3O8 Corp's President and CEO commented, "It is extremely encouraging that significant uranium mineralization occurs over true widths of up to almost 30 metres in parts of the Aricheng South structure. A program of approximately 5,000m of core drilling is now underway with the objective of providing sufficient intercepts for assessment as to whether a resource estimate may be undertaken on the Aricheng South structure. The density of drilling that will be achieved with the current program is likely to provide valuable insights into the structural controls on mineralization - controls that could then be applied to the exploration for uranium in other targets in the Kurupung batholith". The 5,000m, Phase III drill program at Aricheng South commenced in January and is scheduled for completion in April, 2008.

Half-core HQ samples from the Phase II drill program at Aricheng South were cut on site and delivered to ACME Laboratory's preparation facility in Georgetown, Guyana. Sample blanks were inserted at an average frequency of 1 per 25 samples. Sample pulps were then shipped by ACME to their analytical facility in Vancouver, BC, Canada, for analysis for uranium by ICP-MS after hot, four-acid digestion.

Mr. Richard Cleath, Vice President of U3O8 Corp, a Qualified Person within the definition of that term in National Instrument 43-101 of the Canadian Securities Administrators, had overall responsibility for all aspects of target selection and drilling of the Aricheng South target. Mr. Cleath has supervised the preparation of, and verified, the technical information in this release.



Table 1. Summary of mineralized intercepts cut in Phase II drilling
undertaken in November-December, 2007, on the Aricheng South target.
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Estimated
Hole From To Interval True (i)lbs /
number (m) (m) (m) Width (m) U3O8 % short ton
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ARS-006 33.0 57.0 24.0 23.4 0.104 2.1
Including 34.5 39.0 4.5 4.4 0.156 3.1
Including 51.0 56.0 5.0 4.9 0.160 3.2
--------------------------------------------------------------------------
ARS-007 No Significant Results
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ARS-008 40.0 41.0 1.0 1.0 0.076 1.5
--------------------------------------------------------------------------
ARS-009 38.0 65.5 27.5 26.4 0.112 2.2
Including 60.0 64.5 4.5 4.3 0.163 3.3
--------------------------------------------------------------------------
ARS-010 47.5 73.5 26.0 25.2 0.120 2.4
Including 65.5 72.5 7.0 6.8 0.168 3.4
77.0 79.5 2.5 2.4 0.168 3.4
--------------------------------------------------------------------------
ARS-011 64.0 71.5 7.5 7.0 0.081 1.6
73.5 104.0 30.5 28.7 0.071 1.4
Including 93.0 103.5 10.5 9.9 0.106 2.1
109.5 116.5 7.0 6.6 0.099 2.0
--------------------------------------------------------------------------
ARS-012 44.5 55.0 10.5 10.3 #0.210 #4.2
Including 44.5 49.5 5.0 4.9 #0.356 #7.1
93.5 96.5 3.0 2.9 0.098 2.0
--------------------------------------------------------------------------
ARS-13 68.5 75.5 6.5 6.3 0.141 2.8
78.0 83.5 5.5 5.4 0.120 2.4
85.0 88.5 3.5 3.4 0.082 1.6
--------------------------------------------------------------------------
ARS-014 57.5 75.5 18.0 17.5 0.065 1.3
116.5 120.5 4.0 3.9 0.138 2.8
--------------------------------------------------------------------------
ARS-015 44.0 47.5 3.5 3.4 0.074 1.5
75.5 77.0 1.5 1.5 0.100 2.0
--------------------------------------------------------------------------
ARS-016 Hole Abandoned at 43.6m
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ARS-017 83.0 85.0 2.0 1.9 0.042 0.8
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ARS-018 No Significant Results
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ARS-019 100.5 103.5 3.0 2.9 0.055 1.1
107.5 108.5 1.0 1.0 0.091 1.8
--------------------------------------------------------------------------
ARS-020 78.0 79.0 1.0 1.0 #0.467 #9.3
--------------------------------------------------------------------------
ARS-021 71.0 81.0 10.0 8.8 #0.112 #2.2
Including 72.0 74.5 2.5 2.2 #0.268 #5.4
106.5 115.0 8.5 7.5 0.049 1.0
--------------------------------------------------------------------------
(i) Note: 1 short ton equals 2,000lbs or 0.907 metric tonnes
# Note: Over-limit assays on samples with values greater than 0.4%
U3O8 are pending.


To view Figure 1 please visit the following link: http://media3.marketwire.com/docs/uwe0226fig1.pdf

To view Figure 2 please visit the following link: http://media3.marketwire.com/docs/uwe0226fig2.pdf

About U3O8 Corp.

U3O8 Corp. is a Canadian junior mineral exploration company based in Toronto, Canada. Currently focused on uranium exploration in the Roraima Basin area of Guyana, South America, U3O8 Corp.'s primary business objective is to acquire, explore and develop uranium projects in the Americas. The Company is well funded with over $21.0 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 the end of 2010.

The Company has exclusive uranium exploration rights in two permitted areas near the edge of the Roraima Basin in Guyana. The Permit Area A covers approximately 579,500 hectares, while the Permit Area B property covers approximately 750,900 hectares. Permit Area A covers mainly the basement to the adjacent Roraima Basin. The principal uranium target in Permit Area A is mineralization in intrusive rocks and in relatively narrow shear zones. Permit Area B has the potential to host unconformity-style uranium deposits at the base of the Roraima Basin that are similar to those of the Athabasca Basin in Saskatchewan. For further information on the Company'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 is conceptual in nature. There has been insufficient exploration to define a mineral resource on the Company's properties and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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-V: UWE
Shares outstanding -
Basic: 23,057,700
Fully diluted: 25,676,000


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