Uranium Participation Corporation
TSX : U

Uranium Participation Corporation

March 26, 2008 15:50 ET

Uranium Participation Corporation Reports Net Asset Value at February 29, 2008

TORONTO, ONTARIO--(Marketwire - March 26, 2008) -

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Uranium Participation Corporation ("Uranium Corp") (TSX:U) reports its net asset value at February 29, 2008 was CDN$582,547,000 or CDN$8.96 per share on a basic and fully diluted basis. As at February 29, 2008, Uranium Corp's investment portfolio consisted as follows:



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(in thousands of Canadian dollars, Quantity Average Market
except quantity amounts) Cost Value
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Investments in Uranium:
Uranium oxide in concentrates
("U3O8") 4,475,000 lbs $ 197,093 $ 320,076
Uranium hexafluoride ("UF6") 1,417,230 KgU $ 260,618 $ 277,720

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$ 457,711 $ 597,796
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U3O8 average cost and market
value per pound:
- In Canadian dollars $ 44.04 $ 71.53(1)
- In United States dollars $ 37.91 $ 73.00
UF6 average cost and market value
per KgU:
- In Canadian dollars $ 183.89 $ 195.96(1)
- In United States dollars $ 169.23 $ 200.00
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(1) Converted at the February 29, 2008 exchange rate of $0.9798.


In February 2008, Uranium Corp entered into an agreement to purchase 900,000 pounds of U3O8 for a total price of US$64,900,000. Delivery of the U3O8 is anticipated on or before May 31, 2008. In March 2008, the Company agreed to purchase 75,000 KgU as UF6 for a total price of US$14,625,000 with delivery in June 2008. These commitments will be funded from cash on hand together with proceeds of an equity offering which closed on March 19, 2008 and raised net proceeds of approximately CND$71,787,600.

About Uranium Participation Corporation

Uranium Participation Corporation is an investment holding company which invests substantially all of its assets in uranium oxide in concentrates (U3O8) and uranium hexafluoride (UF6) (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumparticipation.com.

Contact Information

  • Uranium Participation Corporation
    E. Peter Farmer
    President
    (416) 979-1991 Ext. 231
    or
    Uranium Participation Corporation
    James Anderson
    Chief Financial Officer
    (416) 979-1991 Ext. 372
    Website: www.uraniumparticipation.com