Mr. David Cates reports

URANIUM PARTICIPATION CORPORATION REPORTS NET ASSET VALUE AT FEBRUARY 28, 2017

Uranium Participation Corp. had an estimated net asset value at Feb. 28, 2017, of $462.3-million or $3.83 per share. As at Feb. 28, 2017, UPC's investment portfolio is as shown in the attached table.

                         UPC INVESTMENT PORTFOLIO
             (in thousands of dollars, except quantity amounts)
                                                  
Investments in uranium                            Quantity   Fair value

Uranium oxide in concentrates (U3O8)         10,080,024 lb    $ 297,127
Uranium hexafluoride (UF6)                  1,903,471 kg U    $ 161,390
U3O8 fair value per pound
In Canadian dollars (1)                                       $   29.48
In U.S. dollars                                               $   22.25
UF6 fair value (1) per KgU
In Canadian dollars (1)                                       $   84.79
In U.S. dollars                                               $   64.0
                                                                                   
(1) Fair values are month-end spot prices published by Ux Consulting Company LLC,
    translated at the month-end noon exchange rate of $1.3248.

On Feb. 28, 2017, the common shares of UPC closed on the Toronto Stock Exchange at a value of $4.37, which represents a 14.1-per-cent premium to the net asset value per share of $3.83.

About Uranium Participation Corp.

Uranium Participation is a company that invests substantially all of its assets in uranium oxide in concentrates (U3O8) and uranium hexafluoride (UF6), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company.

We seek Safe Harbor.