UEX Board Re-elected and Mark Eaton Re-Appointed Chairman

Trading Symbol: UEX-TSX

VANCOUVER, June 7, 2012 /CNW/ - Shareholders of UEX Corporation ("the Company") have re-elected Board members Suraj Ahuja, Mark Eaton, Colin Macdonald, Emmet McGrath and Graham Thody at its annual general meeting held June 5, 2012 in Vancouver, B.C.

The Board of Directors have re-appointed Mark Eaton as its Chairman and Graham Thody as President and CEO.

In addition, the Board re-appointed Mr. Ed Boney as Chief Financial Officer, Mr.Sierd Eriks as Vice President - Exploration and Ms. Nan Lee as Vice President - Project Development.

Mr. Boney was also appointed by the Board to the position of Corporate Secretary.

Forward-Looking Information

This news release may contain statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such statements are based on UEX's current expectations, estimates, forecasts and projections. Such forward-looking information includes statements regarding UEX's mineral resource and mineral reserve estimates, outlook for our future operations, plans and timing for exploration activities, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking information. Such forward-looking information is based on certain factors and assumptions and is 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 information. 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 Canadian securities commissions on SEDAR. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is 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 information. 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.

Graham C. Thody, President & CEO,
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