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A Green Resources Company
Annual & Special Meeting& p g- 2016 -
Toward production of clean energyToward production of clean energy commodities:
uranium & battery metals
www.u3o8corp.comJune 22, 2016
Clean Energy Power Storage Fertilizer
Uranium Vanadium PhosphateTSX: UWE | OTCQX: UWEFF | SSE: UWECL
Forward-Looking Statements & DisclaimerA Green Resources Company
QP for Technical Disclosure – All scientific and technical disclosure contained herein has been prepared and approved by Dr.Richard Spencer, U3O8 Corp’s President and CEO and a “qualified person” within the meaning of NI 43-101.
Certain statements contained herein constitute forward-looking statements (“FLS”) that involve substantial known and unknown risks and uncertainties. These FLSare 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 economicare 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 economicconditions, industry conditions, geopolitical risks, volatility of commodity prices, assumptions used in resource estimates, economic analysis and financialprojections, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, timingand outcome of the preliminary economic assessment (“PEA”) and that a mine will be achieved on the Laguna Salada Project or the Berlin Deposit, that a jointventure will be formed with the Chubut provincial resource company, that the frac sand property will be developed as anticipated and silica potential is realized,currency fluctuations, the uncertainty of obtaining additional financing and exploration risk, and dependence upon regulatory approvals. Readers are cautioned thatthe 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 FLS These FLS are made as of the date hereof and U3O8 Corp assumes no obligation to update or revise them to reflectundue reliance should not be placed on FLS. These FLS are made as of the date hereof and U3O8 Corp. assumes no obligation to update or revise them to reflectnew events or circumstances. Industry and peer information has been drawn from publicly available sources and have not been independently verified by U3O8Corp. Comparisons of U3O8 Corp’s resource and uranium targets with other uranium deposits are conceptual in nature, and have not been independently verifiedby U3O8 Corp. and information regarding these peer deposits are drawn from publicly available information.
Kurupung Project, Guyana – resource of 8.4Mlb indicated at 0.09% U3O8 and 7.7Mlb inferred at 0.08% U3O8. See June 26, 2012 – “Technical Review and MineralResource Estimates of the Aricheng C and Aricheng West Structures, Kurupung Uranium Project, Mazaruni District, Guyana for U3O8 Corp.” and January 14, 2009– “A Technical Review of the Aricheng North and Aricheng South Uranium Deposits in Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc.”A Technical Review of the Aricheng North and Aricheng South Uranium Deposits in Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc.Scout drilling suggests that the Kurupung may contain an additional uranium target of 6-11Mt at a grade of 0.08% to 0.10% U3O8 (~14-19Mlb) – see press releasesdated June 10, 2008, October 15, 2009, November 18, 2009, March 16, 2010, April 20, 2011 and June 8, 2011.
Laguna Salada Project, Argentina – resources of 6.3Mlb indicated at 60ppm U3O8 and 3.8Mlb inferred at 85ppm U3O8; and 57Mlb indicated at 550ppm V2O5 and27Mlb at 590ppm V2O5. See May 20, 2011 – “Laguna Salada Project, Chubut Province, Argentina, NI 43-101 Technical Report on Laguna Salada: Initial ResourceEstimate”. Based on exploration results on other mineralized areas, there is an additional uranium target of 56-113Mt at a grade of 50ppm to 60ppm U3O8 (~10-15Mlb) – see press releases dated December, 4, 2013 and November 12, 2013. For the Laguna Salada PEA, see the September 18, 2014 – “PreliminaryE i A t f L S l d U i V di D it Ch b t P i A ti ”Economic Assessment of Laguna Salada Uranium-Vanadium Deposit, Chubut Province, Argentina”.
Berlin Project, Colombia – resources of 1.5Mlb indicated at 0.11% U3O8 and 19.9Mlb inferred at 0.11% U3O8 ; plus a phosphate inferred resource of 0.8Mt at 9.3%P2O5 and vanadium inferred resource of 97mlb at 0.50% V2O5 defined on only the southern 3km of the 10.5km mineralized trend at Berlin. See March 2, 2012 –“Berlin Project, Colombia – National Instrument NI 43-101 Report”. Based on exploration on other mineralized areas, there is an additional uranium target of 20-27Mt at a grade of 0.09% to 0.11% U3O8 (~50-55Mlb) on the remaining 7.5km of the trend – see press release dated September 20, 2012. For the Berlin PEA seethe January 31, 2013 – “Berlin Project, Colombia - Preliminary Economic Assessment, NI 43-101 Report”.
2
PEAs are preliminary in nature as they include inferred mineral resources that are considered too speculative geologically for economic consideration that wouldenable them to be classified as mineral reserves. Mineral resources are not mineral reserves and have not demonstrated economic viability. There is no certaintythat the results of the PEAs will be realized. Potential quantity and grades are conceptual in nature. There has been insufficient exploration to define a mineralresource on the above uranium targets, and it is uncertain if further exploration will increase the mineral resources on the company’s projects in Guyana, Argentinaand Colombia. Information on U3O8 Corp., its projects and technical reports in compliance with NI 43-101 are available on the company’s web site atwww.u3o8corp.com.
U3O8 Corp. StategyA Green Resources Company
To create shareholder value through:• Discovery & development of uranium & battery metal deposits that
have potential for low-cost production; and• Short permitting timelineswhile working with local communities to create a safe workplace,
stimulating sustainable development and minimizing our environmental impact and carbon footprint
TSX: UWE | OTCQX: UWEFF | SSE: UWECL 3
U3O8 Corp. Core ComponentsA Green Resources Company
p p
U3O8 Corp
Uranium
p
Battery Phosphate Frac SandyCommodities & Rare Earth
Elements86% of revenue
from Laguna Salada
14% of revenue from Laguna
Salada
24% 55% f
35% of revenue from Berlin
39% holding in South
American Silica (pvt Co)
35% of revenue from Berlin
24%-55% of revenue from
Berlin
( )
Warning PEA estimates are preliminary in nature as is the revenue projected to be derived from each commodity The
4TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty that the results of the PEA will be realized - see slide 2
U3O8 Corp. Focus on low cost uranium production profile
A Green Resources Company
Focus on low cost uranium production profile
GUYANADepositUranium
• Uranium & energy metals in South AmericaCOLOMBIA
Deposit Uranium• Target: lower quartile
cash cost for uranium:• Projected US$22/lb in
A ti
pUranium | Vanadium
Phosphate | Rare earths
By-product credits projected to cover
On Hold
Argentina;• By-product credits
projected to cover uranium production
projected to cover cost of uranium production
costs in Colombia;
• Potential near-term production in Argentina.ARGENTINA
Deposit
UWE average projected uranium cash cost of ~US$6/lb Deposit
UraniumVanadium
Projected US$22/lb uranium cash cost of production
for Colombian & Argentine deposits
Current long-term uranium price US$40/lb
5
cash cost of production
WARNING – Projected cash costs are based on PEAs that are preliminary in nature since they include resource estimates that are not mineral reserves and do not have demonstrated economic viability – see slide 2TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Uranium Market DriversUnprecedented Nuclear Reactor Build
A Green Resources Company
Unprecedented Nuclear Reactor Build
Operable Under construction Planned Total
Life extension of existing reactors
Closures planned in the short-
termterm
Pre-Fukushima 443 62 156 661
Post-Fukushima 439 65 158 662 157 23Projected Supply
• Reactors being refurbished for life
518
extension
• 65 reactors under construction today –
439 518Reactors by 2024Operable Reactors
construction today more than there were prior to Fukushima
6
eacto s by 0Ope ab e eacto stoday
Source: WNA, Dundee Securities, Timeless Uranium
6TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Uranium Market DriversChinese & Indian Nuclear – long-term growth
A Green Resources Company
Chinese actual & planned nuclear energy output (GW) 300
Indian actual & planned nuclear energy output (GW)
200
y
China’s nuclear build is exponential200
250
y C
apac
ity India’s nuclear energy plan
calls for more rapid growth than China’s
100
150
clea
r Ene
rgy
utpu
t (G
W)
USA’s nuclear output: ~100GW100
150
clea
r Ene
rgy
(GW
)
0
50
1969
1981
1986
1992
1994
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
2024
2026
2028
2030
2032
Nuc O
0
50
1969
1986
1995
2001
2005
2009
2013
2017
2021
2025
2029
2033
2037
2041
2045
2049
Nuc
• China- world’s 2nd largest economy;• Air polution need for low-carbon power
sources;
• India - world’s 7th largest economy;• 7% average GDP growth rate in last 20 years;• ⅓ of popluation doesn’t have electricity;
7
• Water polution symbiosis between nuclear & water purification & desalination.
• ⅔ of electricity is provided by coal;• Per capita electricity use to double by 2020.
TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Uranium Market SummarySpot price bottoming – looming forecast supply deficit
A Green Resources Company
Spot price bottoming looming forecast supply deficit Global Uranium Demand Scenarios vs.
Global Total Supply
Projected Demand
Spot Uranium Price (US$/lb)
/lb)
Projected Demand Scenarios
Proposed Laguna /yea
r U3O
8Fukushima
e U
3O8
(US$
/
Projected Supply
Total Supply Demand starts to
outstrip supply in 2020
Salada production
Mlb
s/
rani
um P
rice
• Supply defecit expected to start 2020;• Utilities typically hold 3 years of nuclear fuel inventory for their reactors;
U
• Takes 12-18 months to get yellowcake from mine face to fuel delivered to reactors;• 2 Japanese reactors now back on-stream, 25 of 43 operable reactors have applied for
restart. 37 expected to restart by 2020;
8Sources: WNA, Cantor Fitzgerald, Dundee Securities, Raymond James, Ux Consulting Company LLC
Fear of Japan dumping uranium onto the market post-Fukushima finally starting to be outweighed by concern about supply-demand fundamentals.
8TSX: UWE | OTCQX: UWEFF | SSE: UWECL
U3O8 Corp.Potential production cost of uranium
A Green Resources Company
in context with the uranium industry
of ita
l)
Total world mine production
Laguna Salada estimated all in production
prod
uctio
n o
men
t of c
ap
Laguna Salada estimated all-in production cost at 10% NPV discount rate
otal
cos
t of p
xes
& re
paym
$ pe
r pou
nd
ted
actu
al to
nclu
ding
tax
in U
S$
Estim
atur
aniu
m (i
Cumulative annual production (in millions of pounds) from each mine or future project arranged in order of increasing total cost of production
9
Source: Ratmond James and http://www.sprottglobal.com/thoughts/articles/thoughts-on-uranium/ March 14, 2016
future project arranged in order of increasing total cost of production
WARNING – Projected cash costs are based on PEAs that are preliminary in nature as they include resource estimates that are not mineral reserves and do not have demonstrated economic viability – see slide 2TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Laguna Salada DepositOverview
A Green Resources Company
OverviewArgentina’s only: • NI 43-101 uranium resource• Only uranium resource that has
10Mlb uranium resource,Vanadium by-product,Only uranium resource that has
had a PEA completed
Simple Geology
10 year mine life
Flat-lying in soft gravel
Simple Mining
Clear resource-growth potential Exploration has defined extensions to the deposit
Free-digging “migrating trench”Simple Mining
Simple Processing
gg g g g
Screening to remove pebbles & concentrate uranium – followed by
standard alkaline leach
Continuous real-time environmental restoration
Shrubs moved from leading edge of the trench replanted on trailing edge
10TSX: UWE | OTCQX: UWEFF | SSE: UWECL
In-country uranium-enrichment facility
Pilcaniyeu located ~450km from Laguna Salada
Berlin ProjectPEA: commodities produced,
A Green Resources Company
% of revenue generated by each commodity
Main uses of commodities:Yttrium
6%
Neodymium1%
Mo, Zn3% Revenue:
US$2 8B Uranium: Nuclear energyPhosphate: Fertilizer, batteries
Nickel: Stainless steel, batteries, fertilizerUranium
35%
Vanadium9%
US$2.8B
Vanadium: Steel alloys, batteriesYttrium: Lazers, electronics, monitors
Neodymium: Magnets high-efficiency motors
Nickel15%
Neodymium: Magnets, high efficiency motorsBase metals: Steel alloys, fertilizer, Zn-Ceflow batteries, galvanizing, alloysPhosphate
31%
Metals & Phosphate extracted in a single metallurgical process – iron sulphate leach – was the principal process used at Elliot Lake
11
Warning - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEA includes resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
TSX: UWE | OTCQX: UWEFF | SSE: UWECL
U3O8 Corp. Core ComponentsA Green Resources Company
p p
U3O8 Corp
Uranium
p
Battery Phosphate Frac SandyCommodities & Rare Earth
Elements86% of revenue
from Laguna Salada
14% of revenue from Laguna
Salada
24% 55% f
35% of revenue from Berlin
39% holding in Souht
American Silica (pvt Co)
35% of revenue from Berlin
24%-55% of revenue from
Berlin
( )
Warning PEA estimates are preliminary in nature as is the revenue projected to be derived from each commodity The
12TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
Berlin Project’s other commodities:“Clean Energy & Agriculture Commodities”
A Green Resources Company
Clean Energy & Agriculture Commodities
Uranium for Nuclear Power – Clean EnergyUranium for Nuclear Power – Clean Energy
Ph h t f f tili A i ltPhosphate for fertilizer - Agriculture
Berlin contains 3 micronutrients used in Ni
Mo
speciality fertilizersZn
Rare Earth Elements Tech & ElectronicsRare Earth Elements – Tech & Electronics• Neodymium for supermagnets in electric motors & generators;• Yttrium for red phosphors in screens an lazertechnology
13TSX: UWE | OTCQX: UWEFF | SSE: UWECL
gy
U3O8 Corp. Core ComponentsA Green Resources Company
p p
U3O8 Corp
Uranium
p
Battery Phosphate Frac SandyCommodities & Rare Earth
Elements86% of revenue
from Laguna Salada
14% of revenue from Laguna
Salada
24% 55% f
35% of revenue from Berlin
39% holding in Souht
American Silica (pvt Co)
35% of revenue from Berlin
24%-55% of revenue from
Berlin
( )
Warning PEA estimates are preliminary in nature as is the revenue projected to be derived from each commodity The
14TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
“Battery Commodities”A Green Resources Company
+ve ve
Lithium Ion Batteries – short duration high power output
Vanadium Redox Batteries – long duration lower power output
ode
+ve
Ano
-ve
GraLi+Li+
V5+ V3+
Cat
ho
ode
aphiteAs battery discharges Li+
Li+Li+
V4+ V2+
• Elements typically used in Cathode:• Nickel • Cobalt
V V
Potential by-product from Laguna Salada
• Cobalt• Phosphate • Manganese • Aluminium
V di 5
4+3+
Vanadium occurs naturally in 4
different charge
Potential by-product from Berlin
Iron & manganese added as a reagent
15
• Vanadium• Iron
TSX: UWE | OTCQX: UWEFF | SSE: UWECL
5+ 2+states added as a reagent
planned to be recovered at Berlin
U3O8 Corp. Core ComponentsA Green Resources Company
p p
U3O8 Corp
Uranium
p
Battery Phosphate Frac SandyCommodities & Rare Earth
Elements86% of revenue
from Laguna Salada
14% of revenue from Laguna
Salada
24% 55% f
35% of revenue from Berlin
39% holding in South
American Silica (pvt Co)
35% of revenue from Berlin
24%-55% of revenue from
Berlin
( )
Warning PEA estimates are preliminary in nature as is the revenue projected to be derived from each commodity The
16TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
Properties:Bahia Branca Project, Brazil – premium sand
Bahia Branca Project in Brazil – potential for large-scale production • Sand is at surface – no cover;• Soft sand amenable to hydromining;• >90% of bulk sand has outstanding frac characteristics:
• ≤25% in coarser 20/40 grain size;• ~50% in the finer 40/70 fraction; &• ≤25% in the very fine 70/140 grain size;
• Production could start in 12-18 months – with hub-and-spoke design - production feeding to central processing facility – advangate is this can be scaled as the market grows;
• Infrastructure – rail runs through property - 460km to deepwater port.
Railway line with friable frac sand in foreground at Bahia Branca Project
17
j
Corporate ValuationAfter-tax net present value of projects
A Green Resources Company
$350Berlin Deposit, Colombia
p p jAfter-tax Net Present Value of U3O8 Corp.’s projects
(NPV at 7.5% Discount Rate (US$ Million) )
%
$200
$250
$300p
Laguna Salada Project, Argentina
alue
at 7
.5%
S$M
)
$142
$198
$255
$100
$150
$200
C t M k tPres
ent V
aun
t rat
e (U
S
-$40 -$25 $3$31 $59$56 $85
$142
$50
$0
$50Current Market capitalization of
U3O8 Corp.
er-T
ax N
et
disc
o u
Combined NPV of
-$100
-$50
$35 $40 $50 $60 $70=$229M =$314M=$145M=$60MA
fte Projects (7.5% discount rate)
Uranium Price (US$/lb)
18TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the projected revenue. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
Corporate ValuationAfter-tax net present value of projects
A Green Resources Company
$250
p p j
After-tax Net Present Value of U3O8 Corp.’s projects (NPV at 10% Discount Rate (US$ Million) )
%
$150
$200Berlin Deposit, Colombia
Laguna Salada Project, Argentina
Valu
e at
10%
S$M
)
$112
$159
$50
$100
$
Current Market Pres
ent V
unt r
ate
(US
-$42 -$29-$4 $22
$47
-$4
$19$66
-$50
$0
$50
=$134M =$206M=$62M
capitalization of U3O8 Corp.
er-T
ax N
et
disc
o u
Combined NPV of Projects (10%
-$100
-$50$35 $40 $50 $60 $70Aft
j (discount rate)
Uranium Price (US$/lb)
19TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Warning - PEA estimates are preliminary in nature, as is the projected revenue. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results of the PEA being realized - see slide 2
Corporate ValuationComparison with peers
A Green Resources Company
$2.50
Enterprise Value per Pound of Uranium Resources250
NI 43-101 Compliant Resources
p p
$1.50
$2.00
$
b
150
200
rce
(Mlb
s)
$0.50
$1.00
$
US$
/l
50
100
nium
Res
our
$0.00
$0.50
Den
ison
Fiss
ion
Ener
gyEn
ergy
Meg
aN
exG
enB
erke
ley
Aza
rga
um R
es.
UEX
Kiv
alliq
Wes
tern
aram
ide
O8
Cor
pPe
le M
tnne
rman
Plat
eau
Gov
iex
Fors
ys
0
Gov
iex
nerm
anN
exG
enPl
atea
uFo
rsys
Den
ison
aram
ide
Fiss
ion
Wes
tern
Ber
kele
yU
EXEn
ergy
Pele
Mtn
O8
Cor
pum
Res
.K
ival
liqEn
Cor
eA
zarg
aM
ega
Ura
n
D
Toro
Vi
my N B
Ura
niu W La
U3O P
Ban
n
Ban
n N D La W B
Vim
y PU
3OU
rani
u
• U3O8 Corp. undervalued relative to peers• U3O8 Corp. value per pound of resources is low relative to its peers – still trading as if
20TSX: UWE | OTCQX: UWEFF | SSE: UWECL
political risk has not improved dramatically in Argentina
Source Data: Dundee Corp. & Cantor Fitzgerald
U3O8 Corp. Capital StructureA Green Resources Company
p p
Share CapitalU3O8 Corp. Shareholder Base
Market cap(at $0.025) $6.7M
52wk range: $0.02 - $0.07
Average volume (3-mth): 207kI tit ti l
Basic shares o/s 272M
Options o/s 15M
Warrants o/s 105M
8% Insiders
Institutional 24%
Insiders65% Other
Sh h ld Warrants o/s 105M
Fully diluted 392M
Insiders 11%
Shareholders
21TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Laguna Salada Project:Pathway to production & next steps
A Green Resources Company
Discovery
Initial (10Mlb) NI43-101 uranium resource
Landmark agreement with Provincial govt
Initial (10Mlb) NI43 101 uranium resource
PEA focus on projected cash cost$22/lb
Lower quartile
Increase resource to 20-25Mlbs
Trial Mining Pilot processing plant
PEA – focus on projected cash cost
Next Steps
qproduction cost
Trial Mining Pilot processing plant
Feasibility Study
Construction decision
p
Construction decision
22TSX: UWE | OTCQX: UWEFF | SSE: UWECL TSX: UWE | OTCQX: UWEFF | SSE: UWECL
Berlin Project:Pathway to production & next steps
A Green Resources Company
y p p
Highest-value project in U3O8 Corp’s portfolio with one of the lowest projected uranium extraction costs in the industryp j y
Built on discovery by Cogema (Areva)
Initial (21Mlb) NI43-101 uranium resourceInitial (21Mlb) NI43 101 uranium resource
Having confirmed low potential production cost in PEA PEA – focus on projected cash cost
Pilot processing plant
Next Next StepStep
Test alternative extraction techniques
Increase resource to 50Mlb threshold
Feasibility Study
TSX: UWE | OTCQX: UWEFF | SSE: UWECL 23
Construction decision
A Green Resources Company
Richard Spencer, President & [email protected]@u3o8corp.com
(416) 868-1491www.u3o8corp.com
24TSX: UWE | OTCQX: UWEFF | SSE: UWECL