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Corporate presentation new for website
1. TSX: UEX | www.uex-corporation.com
UEX Corporation
Corporate Presentation
Energy for the Future
TSX:UEX
www.uex-corporation.com
UEX.T | UXO.F | UEXCF.PK
2. TSX: UEX | www.uex-corporation.com
Forward-Looking Statements
FORWARD-LOOKING INFORMATION AND STATEMENTS:
Certain statements and other information contained in this presentation may constitute “forward-looking information” within the meaning of applicable Canadian securities
legislation or constitute “forward-looking statements” within the meaning of applicable United States securities legislation. Such information and statements are based on
UEX's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding UEX‘s outlook for our future operations,
plans and timing for exploration activities, and other expectations, intentions and plans that are not historical fact. Statements concerning mineral resource estimates may
also constitute forward-looking statements to the extent they estimate mineralization that will be encountered if the property is developed. Such forward-looking statements
are based on certain factors and assumptions and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from UEX's expectations include uncertainties
relating to interpretation of drill results and geology, additional drilling results, continuity and grade of deposits, participation in joint ventures, reliance on other companies as
operators, public acceptance of uranium as an energy source, fluctuations in uranium prices and currency exchange rates, changes in environmental and other laws affecting
uranium exploration and mining, and other risks and uncertainties disclosed in UEX's Annual Information Form and other filings with the applicable securities commissions in
Canada. Many of these factors are beyond the control of UEX. Consequently, all forward-looking statements made herein are qualified by this cautionary statement and there
can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such
forward-looking statements. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result
of new information, future events or otherwise.
NOTICE TO U.S. PERSONS:
The information in this presentation has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States
securities laws. Information, including scientific or technical information, has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects (“N.I. 43-101”). N.I. 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes
of scientific and technical information concerning mineral projects. Canadian standards, including N.I. 43-101, differ significantly from the requirements of the SEC. For
example, the terms “indicated mineral resources” and “inferred mineral resources” are used in this publication to comply with the reporting standards in Canada. While those
terms are recognized and required by Canadian regulations, the SEC does not recognize them. Under United States standards, mineralization may not be classified as a
“reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is
made. Readers should understand that “indicated mineral resources” and “inferred mineral resources” have a great amount of uncertainty as to their existence and as to their
economic and legal feasibility. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.
In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies. In addition, the definitions of proven
and probable mineral reserves used in N.I. 43-101 differ from the definitions in the SEC Industry Guide 7. Disclosure of “contained pounds” is permitted disclosure under
Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade without
reference to unit measures. Accordingly, information contained in this publication describing the Company's mineral properties may not be comparable to similar information
made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
QUALIFIED PERSON:
Technical information in this presentation has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., UEX’s President and CEO, who is a Qualified Person as defined by
N.I. 43-101.
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3. TSX: UEX | www.uex-corporation.com
Value Creation
Our existing pounds are ready
We have an enviable portfolio for future discoveries
When the market is ready, we have long-standing partnerships with Cameco and AREVA
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4. TSX: UEX | www.uex-corporation.com
Need for Uranium
- Nuclear Power = 17% of current global electricity generation.
- A minimum of 20% growth in total operating reactors by 2030 is expected.
- Currently: 432 reactors are operable, 65 reactors under construction (25 in
China, 6 in India) and 6 new reactors have come online in 2015 alone.
- Population and industrialization in developing countries are growing.
- World electricity demand is expected to double in the next 20 years.
- There is a need for reliable, green, zero emission energy.
- There is a fundamental shortfall in uranium looming.
- Uranium is the only commodity in the world where mine supply has not
met demand in over 30 years.
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5. TSX: UEX | www.uex-corporation.com
Uranium in Saskatchewan
- Continuous uranium mining since
1953.
- 100% of Canada’s current uranium
production.
- 16% of world uranium production
(2014 est.).
- 4 operating uranium mines.
- 3 operating uranium mills.
- Stable operating environment
(taxes, royalties and
environmental).
- Skilled local workforce,
experienced in uranium.
- Local communities support
uranium mining in the Athabasca
Basin.
ATHABASCA
BASIN
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6. TSX: UEX | www.uex-corporation.com
Company Overview
The UEX Corporation mantra:
SMART EXPLORATION LEAN OPERATION
Think while exploring and
change course if/when
necessary.
Where appropriate, use
contractors and have a
small management team.
Corporate Office: Vancouver
Legal Counsel: Koffman Kalef (Vancouver)
Auditors: KPMG (Vancouver)
Western Athabasca Projects:
AREVA 50.9% Project Operator
UEX 49.1% JV Partner
Includes Shea Creek deposits
100% owned Eastern Athabasca Projects
Includes Hidden Bay deposits
Athabasca Basin
Vancouver, BC
Saskatoon, SK
UEX Exploration Office/Warehouse
We have:
NI 43-101 RESOURCES
Unparalleled mid-stage
exploration targets.
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7. TSX: UEX | www.uex-corporation.com
Company Evolution
2001
2016
2002
2004
2007
2008
2009
2010
2011
2014
2013
- Incorporated under the CBCA. Pioneer Metals shareholders 60%, Cameco 40%. CEO: Stephen Sorensen.
- Initial Public Offering on the Toronto Stock Exchange.
- Agreement with Japan Canada Uranium (JCU) to earn 25% interest in Beatty River.
- Agreement signed with COGEMA (now AREVA) to earn a 49% interest in the Western Athabasca
uranium projects by spending $30 million on exploration.
- Completed 49% earn-in on the Western Athabasca projects from AREVA ahead of schedule.
- NI 43-101 mineral resource estimate for Horseshoe.
- NI 43-101 mineral resource estimate for Raven. CEO: Graham Thody.
- NI 43-101 mineral resource estimate for Shea Creek. Discovery of the 58B Deposit.
- Preliminary Economic Assessment completed on Raven and Horseshoe deposits. Kianna deposit extended.
- Increased resource estimate for Shea Creek. Additional earn-in agreement with AREVA on the
Western Athabasca projects.
- CEO: Roger Lemaitre. Hidden Bay historical Database and Core Review.
- Initial Hidden Bay Basement Targeting Program at Wolf Lake and Dwyer Lake.
- Mine development at Hidden Bay.
- Complete studies for PFS at
Hidden Bay.
- Negotiate toll milling agreement
for Raven and Horseshoe deposits.
- PEA/development at Shea Creek.
- Sustained increase in uranium
price needed to justify the
advancement of existing deposits.
- Investigating potential
acquisitions.
- Find new deposits at Hidden Bay
utilizing innovative basement
targeting program.
- Find new deposits at Western
Athabasca.
INTO THE
FUTURE
2006 - Discovery of the Kianna Deposit.
2015
7
2005 - Drilling on the two existing deposits at Shea Creek: Anne and Collette.
2012 - Kianna deposit extended.
8. TSX: UEX | www.uex-corporation.com
Board of Directors
Colin Macdonald, M.Sc.
- Chairman of the Board
- Independent Director
- 30,000 shares owned
- Director since 2001
Mark Eaton
- Compensation Committee Chair
- Independent Director
- 408,500 shares owned
- Director since 2008
Graham Thody, CPA, CA
- Former CEO of UEX to January 2014
- Non Independent Director
- 826,000 shares owned
- Director since 2001
Emmet McGrath, CPA, CA
- Audit Committee Chair
- Independent Director
- 22,000 shares owned
- Director since 2009
Roger Lemaitre, P.Eng., P.Geo.
- CEO of UEX Corporation
- Non Independent Director
- 87,000 shares owned
- Director since 2014
Suraj Ahuja, M.Sc., P.Geo.
- Corporate Governance Committee Chair
- Independent Director
- 25,000 shares owned
- Director since 2004
Public Company Leadership
Experience
Accounting/Financial
Reporting Experience
Corporate Governance & Public
Company Board Experience
Geological/Technical
Experience in Uranium Sector
Capital Markets Experience
Mergers & Acquisitions/
Strategic Experience
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9. TSX: UEX | www.uex-corporation.com
Management & Advisory Board
Ed Boney, CPA, CA Nan Lee, M.Sc., P.Eng. Roger Lemaitre, P.Eng., P.Geo., MBA,
M.Sc. (Applied), B.Sc. (Applied)- CFO & Corporate Secretary
- With UEX since 2011
- 140,100 Shares owned
- VP Project Development
- With UEX since 2011
- 25,000 shares owned
- President & CEO, Director
- With UEX since 2014
- 87,000 shares owned
Walter Segsworth, B.Sc.
- Management Advisory Board
- Mining Engineer
- Former Homestake CEO, prior
- to acquisition by Barrick
David Rhys, M.Sc., P.Geo.
- Management Advisory Board
- Structural Geologist
- Significant uranium sector
experience
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11. TSX: UEX | www.uex-corporation.com
The Athabasca Basin
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12. TSX: UEX | www.uex-corporation.com
NI 43-101 Resources
0
5
10
15
20
25
30
35
40
Shea Creek (UEX's 49.1% share) Hidden Bay
33.22
36.62
13.84
2.72
MillionsofpoundsofU3O8
Millions of Pounds of U3O8 by Project
69.84
16.56
Millions of Pounds of U3O8
by NI 43-101 Category
UEX Corporation - Indicated Resources UEX Corporation - Inferred Resources
Deposit
SHEA CREEK - Indicated Category SHEA CREEK - Inferred Category
at 0.30% U3O8 Cut-off at 0.30% U3O8 Cut-off
Tonnes
Grade U3O8
(%)
U3O8
Tonnes
Grade U3O8
(%)
U3O8
(lbs) (lbs)
Kianna* 1,034,500 1.526 34,805,000 560,700 1.364 16,867,000
Anne* 564,000 1.992 24,760,000 134,900 0.88 2,617,000
Colette* 327,800 0.786 5,680,000 493,200 0.716 7,780,000
58B* 141,600 0.774 2,417,000 83,400 0.505 928,000
Total* 2,067,900 1.484 67,663,000 1,272,200 1.005 28,192,000
Deposit
HIDDEN BAY - Indicated Category HIDDEN BAY - Inferred Category
at 0.05% U3O8 Cut-off at 0.05% U3O8 Cut-off
Tonnes
Grade U3O8
(%)
U3O8
Tonnes
Grade U3O8
(%)
U3O8
(lbs) (lbs)
Horseshoe 5,119,700 0.203 22,895,000 287,000 0.166 1,049,000
Raven 5,173,900 0.107 12,149,000 822,200 0.092 1,666,000
West Bear 78,900 0.908 1,579,000 - - -
Total 10,372,500 0.16 36,623,000 1,109,200 0.111 2,715,000
*Joint venture with 49.1% UEX/ 50.9% AREVA ownership
• Based upon NI 43-101 Technical Report: TECHNICAL REPORT ON THE SHEA
CREEK PROPERTY, NORTHERN SASKATCHEWAN, WITH AN UPDATED MINERAL
RESOURCE ESTIMATE MAY 2013
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• Based upon NI 43-101 Technical Report: PRELIMINARY ASSESSMENT TECHNICAL REPORT
ON THE HORSESHOE AND RAVEN DEPOSITS HIDDEN BAY PROJECT SASKATCHEWAN CANADA
FEBRUARY 2011.
13. TSX: UEX | www.uex-corporation.com
Project Timelines
Resources
NI 43-101 &
growth
PEA Development Production Closure
Raven and Horseshoe Deposits
Exploration
- Brownfields
Resources
NI 43-101 &
growth
PEA
Kianna, Anne, 58B and Collette Deposits
Exploration
- Brownfields
Resources
NI 43-101 &
growth
- To move forward, the price of uranium needs to be US$65 - $70 /lb.
- The PEA proposed 7 year mine life, with toll milling at Cameco’s
Rabbit Lake mill.
- To move forward enough pounds must exist to support a mill on its own or regionally in the
Western Athabasca Basin.
- To move forward, the price of uranium needs to be US$65 - $70 /lb.
Exploration
- Greenfields
- Mid-stage
- Brownfields
Hidden Bay Basement Targeting Program & Shea Creek Follow-up on SHE-2
Exploration
- Mid-stage
- To move forward, we must find more mineralized intercepts and deposit indicators, and have successful follow-up
drilling programs to define new deposits that could lead to new NI 43-101 resource estimates.
Western Athabasca and Other Projects
Exploration
- Greenfields
- To move forward, we must either identify deposit indicators or find mineralization, which would justify additional
drilling and/or surveys.
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14. TSX: UEX | www.uex-corporation.com
Athabasca Basin Deposits
Discovered PRE - 2000 Discovered POST - 2000
BASEMENTUNCONFORMITY
-10
-5
0
5
10
15
20
25
1965 1970 1975 1980 1985 1990 1995 2000
-10
-5
0
5
10
15
20
25
1979 1980 1981 1982
104 M lbs.
-10
-5
0
5
10
15
20
25
2005 2006 2007 2008 2009
-10
-5
0
5
10
15
20
25
1995 2000 2005 2010 2015 2020
360 M lbs.
* For illustrative purposes only, Company and other sources.
1,410 M lbs. 146 M lbs.
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IncreasingUgradeIncreasingUgrade
IncreasingUgradeIncreasingUgrade
15. TSX: UEX | www.uex-corporation.com
Hidden Bay PEA
- February 2011 NI 43-101 Preliminary Assessment Technical Report on the Horseshoe and Raven Deposits Hidden Bay
Project (“PEA”) prepared by SRK Consulting (Canada) Inc. recommended the project be advanced to a preliminary feasibility
level including West Bear.
These results are included in a technical report on the Hidden Bay property with an effective date of February 15, 2011
available online under UEX’s profile at www.sedar.com.
- Base Case economics and cut-off grades calculated at $60 (US) per lb of U3O8.
- 16.6 million lbs (est.) of U3O8 could be extracted over a seven-year mine life.
(1) Projects in the mining sector have experienced rising costs, including rising capital and operating costs, during the past few years. The price of uranium has
declined since the date of the PEA which could negatively impact the results of the PEA. Projects in the mining sector have also experienced significant
fluctuations of costs, which could impact EBIT, NPV and IRR which have been calculated based upon historical costs. Accordingly, readers should bear these
factors in mind when reading the PEA and should not place undue reliance on the PEA.
Price U3O8
(per lb)
Pre-Tax (Base Case)(1)
EBIT
(C$ millions)
NPV5%
(C$ millions)
IRR
(%)
$60 (US) 246 163 42
“EBIT” Earnings before interest and taxes “IRR“ Internal rate of return
“NPV5%” Net present value (5% discount rate)
- The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to
have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and
there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability.
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16. TSX: UEX | www.uex-corporation.com
Hidden Bay Strengths
- Ongoing exploration for new uranium deposits based on targets identified in our historical database and core review
program.
- Long-lead project studies are ongoing and are required to advance Horseshoe, Raven and West Bear deposits to
Prefeasibility when commodity prices signal a need for additional supply.
- Potential for the Horseshoe open pit to become a suitable tailings facility for a nearby mill.
- Significant resources near existing milling infrastructure operated by our largest shareholder (Cameco) and our joint
venture partner (AREVA) at Shea Creek.
- Horseshoe and Raven deposits proximity to Cameco’s Rabbit Lake mill (approximately 4 km) and AREVA’s McClean
Lake mill (approximately 22 km) may allow for toll milling.
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17. TSX: UEX | www.uex-corporation.com
Western Athabasca Vision
- Grow the existing Shea Creek
deposits:
- Kianna
- Anne
- 58B
- Collette
- Apply the knowledge gained
exploring on the Shea Creek
deposit to the neighbouring
Western Athabasca claims.
- Work collaboratively with AREVA
on advancing the Shea Creek
project towards production.
- Become the cornerstone of future
uranium production in the
Western Athabasca region.
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18. TSX: UEX | www.uex-corporation.com
Growth Strategy
- Drill test priority basement targets at Hidden Bay identified during the 2014 review of the Company’s database and
historical core library. The database was compiled when typical unconformity-style deposits were being sought by previous
explorers.
- Continue the exploration and evaluation work required to delineate and develop economic uranium resources at the Shea
Creek deposits, while finding more deposits in the vicinity.
- Advance the Horseshoe, Raven and West Bear deposits toward a production decision.
- Explore and advance our other projects to discovery.
- Pursue a diversified portfolio of projects from early exploration through to development and production, which may include
outright property acquisitions or other business combinations.
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19. TSX: UEX | www.uex-corporation.com 20
UEX Corporation
Suite 1007 – 808 Nelson St.
Vancouver, BC V6Z 2H2
www.uex-corporation.com
Investor & Media Inquires Contact:
Roger Lemaitre
President & CEO
604.669.2349
uex@uex-corporation.com
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