Graham Thody Announces Retirement

Trading Symbol: UEX-TSX

VANCOUVER, July 26, 2013 /CNW/ - UEX Corporation ("UEX") announced today that Graham Thody has advised that he will be retiring as Chief Executive Officer and President of UEX effective January 1, 2014.  Mr. Thody will continue as a Director of UEX and has agreed to assist with transitional matters following his retirement pursuant to a consulting agreement.  Mr. Thody has been the Chief Executive Officer and President of UEX since September 2009 and a Director of UEX since its formation in 2002.  The Board of Directors has commenced a search for a new Chief Executive Officer.

"We would like to thank Mr. Thody for his contribution to the Company as Chief Executive Officer and President over the last four years" said Mark Eaton, Chairman of the Board.  "His efforts have been instrumental in assisting the Company in advancing its properties, including our two major projects, Shea Creek and Hidden Bay.  We are pleased that Graham will continue as a Director of UEX and will be available to assist with transitional matters once a new CEO has been identified.  We wish Graham well in his retirement."

About UEX

UEX is a Canadian uranium exploration and development company actively involved in 16 uranium projects, including six that are 100% owned and operated by UEX, one joint venture with AREVA that is operated by UEX, as well as eight joint-ventured with AREVA and one under option from JCU (Canada) Exploration Company, Limited, which are operated by AREVA. The 16 projects, totaling 264,363 hectares (653,255 acres), are located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt, which accounts for approximately 15% of the global primary uranium production.  UEX is currently advancing several uranium deposits in the Athabasca Basin which include the Kianna, Anne, Colette and 58B deposits at its 49%-owned Shea Creek Project, and the Horseshoe, Raven and West Bear deposits located at its 100%-owned Hidden Bay Project. UEX currently has a cash position of approximately $11.6 million.

SOURCE: UEX Corporation

Graham C. Thody
President & CEO
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