Uranium Participation Corporation
TSX : U

Uranium Participation Corporation

November 14, 2006 15:11 ET

Uranium Participation Corporation Reports Net Asset Value at October 31, 2006

TORONTO, ONTARIO--(CCNMatthews - Nov. 14, 2006) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Uranium Participation Corporation ("Uranium Corp") (TSX:U) reports its net asset value at October 31, 2006 was CDN$414,670,000 or CDN$8.56 per share. On a fully diluted basis, after assuming the full exercise of all outstanding in-the-money warrants, net asset value per share was CDN$8.34. As at October 31, 2006, Uranium Corp's investment portfolio consisted as follows:



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(in thousands of Canadian dollars,
except quantity amounts) Quantity Average Cost Market Value
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Investments in Uranium:
Uranium oxide in concentrates
("U3O8") 4,200,000 lbs $ 158,388 $ 282,920
Uranium hexafluoride ("UF6") 800,000 KgU $ 121,115 $ 150,891

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$ 279,503 $ 433,811
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U3O8 average cost and market
value per pound:
- In Canadian dollars $ 37.71 $ 67.36(1)
- In United States dollars $ 31.75 $ 60.00
UF6 average cost and market
value per KgU:
- In Canadian dollars $ 151.39 $ 188.61(1)
- In United States dollars $ 135.87 $ 168.00
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(1) Converted at the October 31, 2006 exchange rate of $1.1227.


As at October 31, 2006 Uranium Corp had agreed to purchase 150,000 KgU as UF6 for a total price of US$22,590.000. Delivery of the UF6 will occur in December 2006. Purchase commitments will be funded from the proceeds of Uranium Corp's public offering closed on September 14, 2006 and a line of credit of up to $15,000,000 from Denison Mines Inc.

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