Mr. Roger Lemaitre reports

UEX INCREASES SIZE OF PRIVATE PLACEMENT TO APPROXIMATELY $3,000,000

UEX Corp. has increased the size of its previously announced flow-through-common-share offering with Raymond James Ltd. Under the offering, the agent has agreed to act as agent for the offering of common shares of the company, which will qualify as flow-through shares pursuant to the Income Tax Act (Canada), at a price of 43 cents per flow-through share to raise approximately $3-million (previously approximately $2-million), on a best-efforts private-placement basis.

Cameco Corp. has a pre-emptive right under the provisions of the agreement dated Oct. 23, 2001, among UEX, Cameco and Pioneer Metals Corp. to purchase shares from UEX on the same terms and conditions as the offering, so as to maintain its current approximate 21.95-per-cent ownership interest in UEX. The agent will receive a cash commission on the sale of the flow-through shares equal to 5 per cent of the gross proceeds raised. The company intends to use the gross proceeds of the offering to finance exploration of the company's uranium properties.

Closing of the offering is anticipated to occur on or about Sept. 29, 2014, and is subject to receipt of applicable regulatory approvals. The securities issued by UEX in connection with the offering are subject to a four-month-plus-one-day hold period as prescribed by the Toronto Stock Exchange and applicable securities laws.

The offering is being made in the provinces of British Columbia, Alberta and Ontario, and other jurisdictions as may be determined between the company and the agent, and is subject to the approval of regulatory authorities.

We seek Safe Harbor.