corporate presentation dec 29, 2016

TSX: UEX | www.uex-corporation.com

UEX Corporation

Corporate Presentation

Energy for the FutureTSX:UEX

www.uex-corporation.comUEX.T | UXO.F | UEXCF.PK

URANIUM


Forward-Looking StatementsFORWARD-LOOKING INFORMATION AND STATEMENTS:Certain statements and other information contained in this presentation may constitute “forward-looking information” within the meaning of applicable Canadian securitieslegislation or constitute “forward-looking statements” within the meaning of applicable United States securities legislation. Such information and statements are based onUEX'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 mayalso constitute forward-looking statements to the extent they estimate mineralization that will be encountered if the property is developed. Such forward-looking statementsare 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 resultsexpressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from UEX's expectations include uncertaintiesrelating to interpretation of drill results and geology, additional drilling results, continuity and grade of deposits, participation in joint ventures, reliance on other companies asoperators, public acceptance of uranium as an energy source, fluctuations in uranium prices and currency exchange rates, changes in environmental and other laws affectinguranium exploration and mining, and other risks and uncertainties disclosed in UEX's Annual Information Form and other filings with the applicable securities commissions inCanada. Many of these factors are beyond the control of UEX. Consequently, all forward-looking statements made herein are qualified by this cautionary statement and therecan 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 suchforward-looking statements. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a resultof 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 Statessecurities laws. Information, including scientific or technical information, has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure forMineral 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 makesof scientific and technical information concerning mineral projects. Canadian standards, including N.I. 43-101, differ significantly from the requirements of the SEC. Forexample, the terms “indicated mineral resources” and “inferred mineral resources” are used in this publication to comply with the reporting standards in Canada. While thoseterms 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 ismade. Readers should understand that “indicated mineral resources” and “inferred mineral resources” have a great amount of uncertainty as to their existence and as to theireconomic 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 provenand 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 underCanadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade withoutreference to unit measures. Accordingly, information contained in this publication describing the Company's mineral properties may not be comparable to similar informationmade 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 byN.I. 43-101.

2


Value CreationOur 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

3


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: 447 reactors are operable, 59 reactors under construction (20 in

China, 5 in India) and 9 new reactors have come online in 2016 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.

4


Uranium in Saskatchewan

- Continuous uranium mining since 1953.

- 100% of Canada’s current uranium production.

- 22% of world uranium production (2015 estimate).

- 4 uranium mines.

- 3 uranium mills.

- Stable operating environment (taxes, royalties and environmental).

- Skilled local workforce, experienced in uranium.

- Local communities support uranium mining in the Athabasca Basin.

ATHABASCABASIN

5


Company OverviewThe 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: VancouverLegal Counsel: Koffman Kalef (Vancouver)Auditors: KPMG (Vancouver)

100% owned Eastern Athabasca ProjectsIncludes Hidden Bay deposits

Athabasca Basin

Vancouver, BC

Saskatoon, SK

UEX Exploration Office/Warehouse

We have:

NI 43-101 RESOURCES

Unparalleled mid-stage exploration targets.

6

Western Athabasca Projects:AREVA 50.9% Project OperatorUEX 49.1% JV PartnerIncludes Shea Creek deposits

Christie Lake Project:JCU 90% JV PartnerUEX 10% Project Operator


Company Evolution

2001

2015

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 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.

- LOI signed with JCU (Canada) Exploration (JCU) to acquire up to 70% interest in the ChristieLake advanced uranium project.

- 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.

- Upgrade and grow Christie Lake deposits.

INTO THE FUTURE

2006 - Discovery of the Kianna Deposit.

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2005 - Drilling on the two existing deposits at Shea Creek: Anne and Colette.

2012 - Kianna Deposit extended.

- Initial Hidden Bay Basement Targeting Program at Wolf Lake and Dwyer Lake.

2016 - 10% interest earned in Christie Lake and joint venture agreement signed.


Board of DirectorsColin 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- 22,400 shares owned- Director since 2009

Roger Lemaitre, P.Eng., P.Geo.- CEO of UEX Corporation- Non Independent Director- 185,400 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/FinancialReporting Experience

Corporate Governance & PublicCompany Board Experience

Geological/TechnicalExperience in Uranium Sector

Capital Markets Experience

Mergers & Acquisitions/Strategic Experience

8


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- 223,000 Shares owned

- VP Project Development- With UEX since 2011- 25,000 shares owned

- President & CEO, Director- With UEX since 2014- 185,400 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

9


Corporate Summary

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Issued and Outstanding Fully Diluted - Options (Weighted Average Exercise Price $0.68)- Warrants (Weighted Average Exercise Price $0.22)Share Price (December 22, 2016)Market CapitalizationDaily Trading Volume (3 month average)

296,538,879342,204,784

20,904,00024,761,905

$ 0.22$ 65,238,553

541,497

SHARES

INSIDERS

CASH POSITION

Cameco CorporationCurrent/Retired Management & DirectorsTotal Insiders

16.87%8.01%

24.88%

As at November 30, 2016 $ 6.0 million

UEX Share Price

0.00

0.05

0.10

0.15

0.20

0.25

0.30

UEX

Sha

re P

rice

$ (C

AD)


The Athabasca Basin

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NI 43-101 Resources

0

5

10

15

20

25

30

35

40

Shea Creek (UEX's 49.1% share) Hidden Bay

33.2236.62

13.84

2.72

Mill

ions

of p

ound

s of

U3O

8

Millions of Pounds of U3O8 by Project

69.84 16.56

Millions of Pounds of U3O8by 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


Project TimelinesResources

NI 43-101 & growth

PEA Development Production Closure

Raven and Horseshoe Deposits

Exploration- Brownfields

Resources NI 43-101 &

growthPEA

Kianna, Anne, 58B and Colette Deposits

- 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.

Exploration- Greenfields- Mid-stage- Brownfields

Hidden Bay Basement Targeting Program & Shea Creek Follow-up on SHE-2

Western Athabasca and Other Projects

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Resources NI 43-101 &

growth

- 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.

Christie Lake Project


Resources growth

- To move forward, we need to confirm and upgrade the existing resource to NI 43-101 standards, expand the size of the known deposits and make additional discoveries along the known mineralized trend.

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.

Exploration- Greenfields

- To move forward, we must either identify deposit indicators or find mineralization, which would justify additional drilling and/or surveys.


-10

-5

0

5

10

15

20

25

2004 2006 2008 2010

Athabasca Basin DepositsDiscovered PRE - 2000 Discovered POST - 2000

BASE

MEN

TUN

CONF

ORM

ITY

-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.

* For illustrative purposes only, Company and other sources.

1,410 M lbs. 142 M lbs.

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Incr

easi

ng U

gra

deIn

crea

sing

U g

rade

Incr

easi

ng U

gra

deIn

crea

sing

U g

rade

-10

-5

0

5

10

15

20

25

1995 2000 2005 2010 2015 2020

605 M lbs.


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 feasibilitylevel 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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http://www.sedar.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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Heap leaching has become a major beneficiation technique used for processing large tonnage, low grade ores

UEX’s Horseshoe and Raven Deposits are being evaluated to help identify the best available leaching process for its uranium ore.

HEAP LEACHINGOre Grade < 0.5%

TANK LEACHINGOre Grade

> 0.5%

Time

Ore

Grad

e

HORSESHOEand RAVEN

Heap Leach Potential

17

Presenter

Presentation Notes

U prices and inability to secure toll-milling agreement at RBL has stalled the project TMF issues Despite our help, we decided to look at alternatives Grade of deposits led us to consider HL possibility


Benxi mine, CNNC

Krasnokamensk mine, ARMZSheep Mountain,

Energy Fuels

Lantian mine, CNNC

Chongyi mine, CNNC

Proposed uranium heap leach operations

Current or past uranium heap leach operations

Uranium heap leach operations under development

Ingul’skaya mine, VOSTGOK

Don Otto, Globe Uranium Ltd.

Caetité, Indústrias Nucleares do Brasil

Trekkopje,AREVA

Imouraren, AREVA

Gornoe, ARMZ

Wiluna,Toro Energy

Salamanca,Berkeley Energy

Macusani,Plateau Uranium

Fort Knox(Au)

Kuranah(Au)

Other cold weather base and precious metal heap leach projects

Dornod mine, Khan Resources

Horseshoe and Raven Deposits UEX Corporation Voro mine

(Au)

Vostok,Kazatomprom

Pioneer(Au)

Beresitovy(Ag, Zn, Pb )

Uranium is heap leached around the world, including cold weather regions.

Uranium Heap Leaching World-Wide

EtangoBannerman

Somair, AREVA

18

Presenter

Presentation Notes

U heap leaching has been done globally, and is being considered on several new projects Also done in cold climates, colder than Saskatchewan Has been done in Sask as well


Western Athabasca Vision- Grow the existing Shea Creek

deposits:- Kianna- Anne- 58B- Colette

- Apply the knowledge gained exploring on the Shea Creek deposit to the neighbouringWestern 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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TSX: UEX | www.uex-corporation.com 20

2016 Notable Intersections

CB-93 – 14.74% U3O8 over 5.5 m CB-92 – 9.30% U3O8 over 9.8 m

Historical Notable Deposit Intersections

CB-04 – 9.38% U3O8 over 8.0 mCB-11 – 2.31% U3O8 over 11.0 mCB-20 – 4.82% U3O8 over 20.8 mCB-32 – 9.22% U3O8 over 1.5 m and

– 5.20% U3O8 over 9.0 m

- Known resources with significant growth potential.

- Very good location in area currently producing significant uranium.

- Good partner that we have had a long working relationship with.

- Project beginning to be tested for basement-hosted mineralization.

Christie Lake Overview


Many known mineralized camps in the Athabasca Basin exhibit a recognizable trend plunging into the basement.

We believe the Christie Lake deposits represent the basement tail of a mineralized system that includes the McArthur River Mine.

Athabasca Basin Deposit Blueprint

SANDSTONE

P2 Main Deposit (Cameco)

McArthur River Mine (Cameco)

Christie Lake (JCU/UEX)

PerchedUnconformity

Basement

BASEMENT ROCK

Known Plunging Systems in the Athabasca:

Shea Creek (UEX/AREVA)Collins Bay – Eagle Point (Cameco)Sue A-E (AREVA/Denison)Triple R (Fission)J Zone/Roughrider (Denison and Rio Tinto)


Christie Lake Highlights- LOI signed with JCU (Canada) Exploration (JCU) to

earn up to 70% interest in the Christie Lake Project, joint venture agreement signed.

- Located 9 km along strike from the McArthur River Mine, the world’s largest uranium producer.

- The McArthur River Mine’s host structure, the P2 Fault, continues onto the Christie Lake Property, and its successor fault hosts two deposits within the project.

POUNDS- The Paul Bay and Ken Pen Zones have historical

resources of 20.87 million pounds U3O8 at an average grade of 3.22% U3O8*BASEMENT DEPOSIT POTENTIAL

- The Paul Bay and Ken Pen Zones are open for expansion at depth- Drilling has not tested the basement environment along the 1.5 km mineralized trend for new deposits

* This is a historic resource estimation which does not use resource classifications consistent with NI 43-101. The historical resource estimate was presented in an internal report titled Christie Lake Project, GeologicalResource Estimate completed by PNC Tono Geoscience Center, Resource Analysis Group, dated September 12, 1997. The historical resource was calculated using a 3-D block model using block sizes of 2 m by 2 m by 2 m,and block grades interpolated using the inverse distance squared method over a circular search radius of 25 m and 1 m height. Specific gravities for each deposit were averaged from specific gravity measures of individualsamples collected for assay. UEX plans to complete additional infill drilling on the deposits during the option earn-in period to upgrade these historic resources to indicated and inferred. A qualified person has not donesufficient work to classify the historic estimate as current mineral resources or mineral reserves. UEX is not treating the historic estimate as current mineral reserves or mineral resources.

Ore Body*Cut-Off Grade

(% U3O8) Ore (t)Resources

(t U3O8)Resources

(million lbs U3O8)Average Grade

(% U3O8)

Paul Bay Ore Shoot 0.3 231,298 7,078 15.60 3.06Ken Pen Ore Shoot 0.3 62,956 2,392 5.27 3.80Total 294,254 9,470 20.87 3.22


Christie Lake & McArthur River

540M

420M

Depth to UnconformityUnconformity

McArthur River Uranium Mine

Christie Lake Exploration Camp


Christie Lake Potential- The unconformity depth of the area is about 420 m (˜120 m

less than at McArthur River).

- There are many areas for further exploration and potential deposit expansion.

- The Paul Bay and Ken Pen Zones remain open for expansion in the down-dip direction and along cross-fault directions.

- None of the previously drilled holes test for basement mineralization outside the Paul Bay and Ken Pen Zones.

- Only a handful of existing holes constrain potential mineralization down-dip along the 1.5 km trend.

- The basement setting of the Paul Bay Deposit has not been tested by drilling along the 1.5 km mineralized trend.

- We have identified areas 1 – 7 for upcoming exploration work in order of priority.

- We believe that in 1 year we will convert and upgrade the historical resource.

Camp


Modern Ideas to Apply at Christie Lake

Key structural features observed at:McArthur River, Eagle Point/02NEXT, Shea Creek, PLS, Arrow

Map View – Paul Bay DepositFollows a Plunge Line– Intersecting Faults?


Growth Strategy

- To plan and execute the exploration and evaluation work required to delineate and develop economic uranium resources at Christie Lake, as part of our project earn-in.

- To find new uranium deposits at the Hidden Bay Project and in the Western Athabasca Projects with our joint-venture partner AREVA.

- To continue the exploration and evaluation work required to delineate and develop economic uranium resources at Shea Creek.

- To advance the evaluation/development process at the Horseshoe, Raven and West Bear uranium deposits at the Hidden Bay Project to a production decision once uranium commodity prices have demonstrated a sustained recovery from current spot and long-term prices.

- To maintain, explore and advance to discovery our other uranium projects.

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UEX CorporationSuite 1700 – 750 West Pender St.Vancouver, BC V6C 2T8www.uex-corporation.com

Investor & Media Inquires Contact:Roger LemaitrePresident & CEO [email protected]

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