Toward production of clean energy commodities: uranium & - - PowerPoint PPT Presentation

www.u3o8corp.com April, 2018

Uranium

Nuclear Energy Power Storage Rare Earths

Toward production of clean energy commodities: uranium & battery metals

A Green Resources Company

Vanadium, Nickel & Phosphate

Yttrium & Neodymium

TSX: UWE | OTCQB: UWEFF

2 QP for Technical Disclosure – All scientific and technical disclosure contained herein has been prepared and approved by Dr. Richard Spencer, U3O8 Corp’s President and CEO and a “qualified person” within the meaning of NI 43-101.

Certain statements contained herein constitute forward-looking statements (“FLS”) that involve substantial known and unknown risks and uncertainties. These FLS are subject to numerous risks and uncertainties, certain of which are beyond the control of U3O8 Corp., including, but not limited to, the impact of general economic conditions, industry conditions, geopolitical risks, volatility of commodity prices, assumptions used in resource estimates, economic analysis and financial projections, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, timing and outcome of the preliminary economic assessment (“PEA”) and that a mine will be achieved on the Laguna Salada Project or the Berlin Deposit, that a joint venture will be formed with the Chubut provincial resource company, that the frac sand property will be developed as anticipated and silica potential is realized, currency fluctuations, the uncertainty of obtaining additional financing and exploration risk, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FLS. These FLS are made as of the date hereof and U3O8 Corp. assumes no obligation to update or revise them to reflect new events or circumstances. Industry and peer information has been drawn from publicly available sources and have not been independently verified by U3O8

• Corp. Comparisons of U3O8 Corp’s resource and exploration targets with other uranium deposits are conceptual in nature, and have not been independently

verified by U3O8 Corp. and information regarding these peer deposits are drawn from publicly available information. Kurupung Project, Guyana – resource of 8.4Mlb indicated at 0.09% U3O8 and 7.7Mlb inferred at 0.08% U3O8. See June 26, 2012 – “Technical Review and Mineral Resource Estimates of the Aricheng C and Aricheng West Structures, Kurupung Uranium Project, Mazaruni District, Guyana for U3O8 Corp.” and January 14, 2009 – “A Technical Review of the Aricheng North and Aricheng South Uranium Deposits in Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc.” Scout drilling suggests that the Kurupung may contain an additional exploration target of 6-11Mt at a grade of 0.08% to 0.10% U3O8 (~14-19Mlb) – see press releases dated June 10, 2008, October 15, 2009, November 18, 2009, March 16, 2010, April 20, 2011 and June 8, 2011. Laguna Salada Project, Argentina – resources of 6.3Mlb indicated at 60ppm U3O8 and 3.8Mlb inferred at 85ppm U3O8; and 57Mlb indicated at 550ppm V2O5 and 27Mlb at 590ppm V2O5. See May 20, 2011 – “Laguna Salada Project, Chubut Province, Argentina, NI 43-101 Technical Report on Laguna Salada: Initial Resource Estimate”. Based on exploration results on other mineralized areas, there is an additional exploration target of 56-113Mt at a grade of 50ppm to 60ppm U3O8 (~10- 15Mlb) – see press releases dated December, 4, 2013 and November 12, 2013. For the Laguna Salada PEA, see the September 18, 2014 – “Preliminary Economic Assessment of Laguna Salada Uranium-Vanadium Deposit, Chubut Province, Argentina”. Berlin Project, Colombia – resources of 1.5Mlb indicated at 0.11% U3O8 and 19.9Mlb inferred at 0.11% U3O8 ; plus a phosphate inferred resource of 0.8Mt at 9.3% P2O5 and vanadium inferred resource of 97mlb at 0.50% V2O5 defined on only the southern 3km of the 10.5km mineralized trend at Berlin. See March 2, 2012 – “Berlin Project, Colombia – National Instrument NI 43-101 Report”. Based on exploration on other mineralized areas, there is an additional exploration target of 20- 27Mt at a grade of 0.09% to 0.11% U3O8 (~50-55Mlb) on the remaining 7.5km of the trend – see press release dated September 20, 2012. For the Berlin PEA see the January 31, 2013 – “Berlin Project, Colombia - Preliminary Economic Assessment, NI 43-101 Report”. PEAs are preliminary in nature as they include inferred mineral resources that are considered too speculative geologically for economic consideration that would enable them to be classified as mineral reserves. Mineral resources are not mineral reserves and have not demonstrated economic viability. There is no certainty that the results of the PEAs will be realized. Potential quantity and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource on the above exploration targets, and it is uncertain if further exploration will increase the mineral resources on the company’s projects in Guyana, Argentina and Colombia. Information on U3O8 Corp., its projects and technical reports in compliance with NI 43-101 are available on the company’s web site at www.u3o8corp.com.

Forward-Looking Statements & Disclaimer

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

3

U3O8 Corp: Commodities for clean energy

A Green Resources Company

• 1. Uranium

To fuel large nuclear power plants

• 2. Battery

Commodities

• 3. Rare

Earths

High-efficiency generators & motors TSX: UWE | OTCQB: UWEFF To fuel small modular reactors (SMRs)

Nickel, Vanadium, Phosphate, Zinc

U3O8 Corp. Core Components

& Estimate of % Revenue that would be derived from each

4

Note - PEA estimates are preliminary in nature, as is the revenue projected to be derived from each commodity. The PEAs include resources that are not reserves that do not have demonstrated economic viability. There is no certainty of the results

• f the PEA being realized - see slide 2

A Green Resources Company

U3O8 Corp

Project Uranium Battery Commodities Rare Earth Elements Other Metals Total Laguna Salada, Argentina 86% Vanadium 14% 100% Berlin, Colombia 35% Vanadium 9% 7% 1% 100% Nickel 15% Phosphate 31% Zinc 2% Sub-total 57% U3O8 Corp has a 39% holding in South American Silica

TSX: UWE | OTCQB: UWEFF

U3O8 Corp.

Uranium Resource: 48 million pounds

5

A Green Resources Company

Note – Projected cash costs are based on PEAs that are preliminary in nature as they include resource estimates that are not mineral reserves and do not have demonstrated economic viability – see slide 2

Guyana Colombia Argentina

Estimated Cash Cost of Uranium Production Estimated Capital Cost Priority BERLIN, Colombia

Resource Type Million pounds

Indicated 1.5 US$0/pound of uranium net of by- products US$441 million 2 Inferred 19.9 LAGUNA SALADA, Argentina Indicated 6.3 US$22/pound of uranium, net of by- product vanadium US$136 million 1 Inferred 3.8 KURUPUNG, Guyana Indicated 8.3 Rough estimate: US$45/pound Not yet estimated 3 Inferred 7.9 TSX: UWE | OTCQB: UWEFF

Nuclear in Argentina

Will generate 9% of electricity when Embalse reactor is back on stream

6

A Green Resources Company

Reactor Atucha I Embalse Atucha II Atucha III “No 5”

Date of Commercial Operation 1974 1984 2015 Construction starts 2018 Construction starts 2020 Capacity (MWe net) 335 600635 692 800 1,150 Type Siemens Candu-6 Siemens Candu-6 Hualong One Life extensions 10-years to 2027 30-years to 2048 6% output increase Construction contract signed May, 2017

Large Nuclear Power Plants: 2 operating reactors, one being refurbished Small Reactors:

5 Research reactors operating in Argentina 5 Research reactors built by Argentine reactor construction company INVAP elsewhere in the world CAREM Small Modular Reactor:

• 25MW prototype under construction, 100MW & 200MW units designed

TSX: UWE | OTCQB: UWEFF

Nuclear Energy in Argentina:

7

A Green Resources Company

Source of data: CNEA, IAEA

TSX: UWE | OTCQB: UWEFF

5,000 10,000 15,000 20,000 25,000 30,000

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Electricity Production (GWh)

Electricity Generation from Nuclear in Argentina: actual & planned

Reactor 4 Reactor 5 Refurbished Embalse reactor ramps up to full production

Nuclear in Argentina

– the opportunity

8

A Green Resources Company

Reactor Design Reactor Construction Enrichment & Fuel-Rod Manufacture Spent Fuel Storage

CNEA/INVAP INVAP

Uranium Production

DIOXITEC & CONUAR NA-SA1 CNEA2

INVAP to build medical isotope facility in USA for Coqui Pharma

Spent fuel in dry storage in concrete casks - CNEA

Nuclear fuel rod cluster

1 Short-term storage at nuclear power plants operated by NA-SA; 2 Long-term storage in dry casks by CNEA.

Nuclear energy industry overseen by ARN (Nuclear Regulatory Authority)

Australia’s only nuclear reactor – the OPAL research facility

Laguna Salada Deposit – U3O8 Corp. Cerro Solo Deposit – State through CNEA

TSX: UWE | OTCQB: UWEFF

Ivana Deposit – Blue Sky Uranium Corp.

Laguna Salada

Simple mining - real-time environmental restoration

9 Migrating Trench Advances

Mined area restored to

• riginal landscape

Excavation up to 3m/10’ deep

A Green Resources Company

Gravel – averages 8m thick

Gravel that’s been mined, washed & replaced

Removing the Gravel Cover Mining Uranium-Vanadium – bearing gravel

Gravel – averages 8m thick Impermeable shale TSX: UWE | OTCQB: UWEFF

10

Gravel is sieved Washed

Only fine material sent for processing

No blasting, no crushing

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Laguna Salada

Operational Simplicity

11

Only 9% of the gravel is processed for uranium & vanadium extraction. Extraction of Uranium & Vanadium is with household products - Baking powder & baking soda

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Laguna Salada

Simple Processing

Laguna Salada Project:

Resource growth potential

U3O8’s Concession Block Outlined in Green

10Mlb

Current NI 43-101 uranium resource

>25Mlb

potential in gravel plain (grey area)

➢ 10Mlb NI 43-101 Uranium

Resource

➢ 20-25Mlb potential in in La

Susana, La Rosada discoveries

➢ >25Mlb - potential in rest of

land package

> 55Mlb potential

20km

12

A Green Resources Company

Location of exploration results reported in Jan, 2017

20-25Mlb

potential in La Susana, La Rosada(1) discoveries & anomalous radon area

TSX: UWE | OTCQB: UWEFF

$0 $5 $10 $15 $20 $25 $30 $35 $40 $45 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

Cash cost of production of Uranium (US$ per pound)

Uranium Grade (ppm U3O8)

Estimated Cash-Cost of Production with Grade of Fine Component of Gravel

Average life of mine cash cost of production US$21.62/lb of U3O8

Laguna Salada Project:

Higher Grades lead to lower Production Cost Estimates

13

A Green Resources Company

Year 1 Year 10 Objective of current exploration - to find additional higher-grade uranium-vanadium TSX: UWE | OTCQB: UWEFF

$0 $20 $40 $60 $80 $100 $120 $140 $160 Uranium Price (US$/lb)

Uranium Price Chart

Spot Price Long Term Price Argentine Importation Price

Uranium Commodity Price

14 14

A Green Resources Company

Source: of data Ux Consulting Company LLC, Cantor Fitzgerald

TSX: UWE | OTCQB: UWEFF Fukushima

Uranium Market Summary

15

Source: TradeTech

15

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Producers making deep production cuts – led by Cameco and Kazatomprom. Total U3O8 supply in 2017 was ~200Mlbs so:

• 2018: supply cut to ~

169Mlbs (15.5% from 2017)

• 2019: further cut to ~

167Mlbs (1%);

• 2020: further cut to ~

165Mlbs (1%)

• 6Mlbs
• 12Mlbs
• 31Mlbs
• 33Mlbs
• 35Mlbs

Uranium Market Summary

16

Source: Cantor Fitzgerald

Global Uranium Demand Scenarios vs. Global Total Supply Supply cuts put market into deficit in 2018 Primary Supply

Proposed Laguna Salada production

Mlbs/year U3O8

16

A Green Resources Company

Secondary Supply

TSX: UWE | OTCQB: UWEFF

Laguna Salada Deposit

Timeline & budget to mine decision

17

BUDGET TOWARDS POTENTIAL PRODUCTION

(US$)

Resource expansion & upgrade to Measured & Indicated $3.0M Metallurgy & pilot plant $1.5M Social, environmental & permitting $1.0M Feasibility study (FS) $1.5M Budget to Construction Decision $7.0M CAPEX (in 2014 US$) CAPEX after forex adjustment (in 2015 US$) $136M / $117M

Next Steps: 1. Trial mining & pilot plant test work to produce yellowcake as proof of concept; 2. Reduce production cost estimates by finding additional higher grade gravel and

• ptimizing metallurgy.

Recommended work program, timing & budget based on PEA that is preliminary in nature. Includes resources that are not reserves & do not have demonstrated economic viability. No certainty of the PEA being realized – see slide 2

Conceptual Timeline Year 1 Year 2 Year 3 Resource expansion & upgrade Environmental (EIA) Metallurgy & pilot plant Mining & Environ. permit Permit to produce yellowcake Feasibility study (FS) Construction

A Green Resources Company

• Projected 2 years to construction decision
• Projected additional 1 year for construction

TSX: UWE | OTCQB: UWEFF

Battery Commodities

18

A Green Resources Company

Note – Projected cash costs are based on PEAs that are preliminary in nature as they include resource estimates that are not mineral reserves and do not have demonstrated economic viability – see slide 2

Colombia Argentina

BERLIN, Colombia NI 43-101 Resource category Vanadium Nickel Phosphate Zinc Million pounds Million pounds Million Tonnes Million Pounds Indicated 6 3.1 0.05 4.4 Inferred 91 42.1 0.8 45 LAGUNA SALADA, Argentina NI 43-101 Resource Vanadium (Mlb) Indicated 57 Inferred 27 TSX: UWE | OTCQB: UWEFF

19

Lithium Ion Battery Commodities

A Green Resources Company

Kg of metal per kWh of energy storage capacity

Source of data: batteryuniversity.com 0.00 1.00 2.00 3.00 4.00 5.00 6.00

NCA

0.00 1.00 2.00 3.00 4.00 5.00 6.00

LFP LMO

Metal content per kWh in various Lithium-Ion batteries (kg/kWh)

Li-ion Battery Type Chemistry Abrev. Lithium Iron Phosphate LiFePO4 LFP Lithium Vanadium Phosphate Li3V2(PO4)3 LVP Lithium Manganese Oxide LiMn2O4 LMO Lithium Cobalt Oxide LiCoO2 LCO Lithium Nickel Cobalt Aluminium Oxide LiNiCoAlO2 NCA Lithium Nickel Managanese Cobalt Oxide LiNiMnCoO2 NMC

LVP

Cobalt Lithium

LCO NMC

TSX: UWE | OTCQB: UWEFF

100 200 300 400 500 600

Lead Acid NiCad Nickel Metal Hydride Lithium Titanite Lithium Iron Phosphate Lithium Manganese Oxide NMC Lithium Cobalt Oxide NCA Lithium Vanadium Phosphate

Specific Energy (Wh/kg)

20

Lithium Ion Battery Commodities

A Green Resources Company

Source of data: batteryuniversity.com

Comparison of Specific Energy or Capacity of Battery Types Lithium-Ion Batteries

Nissan Leaf, GM, Chevy Volt, BMW i3 BYD e- buses Tesla, Panasonic Subaru G4e, BYD Car battery

TSX: UWE | OTCQB: UWEFF

25 50 75 100 125 150

2013 2014 2015 2016 2017 2018 2019 2020 2021

Gigawatt Hours (GWh)

21

Lithium Ion Battery Commodities

A Green Resources Company

From Dundee Capital Markets (June 13, 2016) from data from Benchmark Mineral Intelligence & Avicienne, Albrecht, 2016

Demand Estimate vs Supply Ramp-up from Megafactories

Current Supply LG Chem Foxcom Tesla-Panasonic BYD Boston Power TSX: UWE | OTCQB: UWEFF

22

Battery Commodities

Vanadium Redox Flow Batteries (“VRB”)

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Flow Batteries

Lithium Ion Lead Acid

1 hr 5 hrs 10 hrs

10MW 10kW 1MW

Rated Output

Battery Duration

5+ 4+ 3+ 2+

Vanadium

• ccurs

naturally in 4 different charge states

+ve

• ve

V5+ V4+ V3+

+ve electrode

• ve

electrode

V2+

current Membrane

23

Battery Commodities

Vanadium Redox Batteries – Industrial e-Storage

A Green Resources Company

600kW & 2.2MWh DC  AC UniEnergy System Cost Guidance

• US$500/kWh (UniEnergy Technologies)

= US$0.10/kWh over 15,000 cycles;

• US$300/kWh with recycled Vanadium

(Imery) = US$0.07/kWh over 15,000 cycles

• Footprint: 20MW/acre or 50MW/hectare
• UET system cost estimate: US$0.05c/kWh

TSX: UWE | OTCQB: UWEFF VRB = Typical large reactor (1,000MW) Only 5 of these VRBs would be needed to store the entire electricity output of a typical large reactor

Largest battery in world is a VRB:

• 200MW / 800MWh;
• Sufficient to power 100,000 typical western

homes for 8 hours; VRB selected for:

• Reliability – no significant loss of capacity
• ver battery life;
• >20 year life;
• Electrolyte is fully recyclable at end of the

battery’s life. VRB VRB VRB VRB

24

Battery Commodities

Vanadium

A Green Resources Company

Vanadium Pentoxide (V2O5) Price

Source of data: www.assetmacro.com, Camelot Ferroalloys Inc., Vanitec

TSX: UWE | OTCQB: UWEFF

Price (US$/lb)

20,000 40,000 60,000 80,000 100,000 120,000 140,000

Vanadium required for Li-Ion Batteries Vanadium required for Redox Flow Batteries Steel, Chemicals Supply

Vanadium Pentoxide (V2O5) Supply/Demand

Vanadium (tonnes)

$0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 1-Jan-10 1-Jul-10 1-Jan-11 1-Jul-11 1-Jan-12 1-Jul-12 1-Jan-13 1-Jul-13 1-Jan-14 1-Jul-14 1-Jan-15 1-Jul-15 1-Jan-16 1-Jul-16 1-Jan-17 1-Jul-17 1-Jan-18

25

Battery Commodities

Zinc-Air Batteries

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

100 200 300 400 500 600

Specific Energy (Wh/kg)

Specific Energy: Li-Ion vs Zinc-Air Zinc + Air → Zinc Oxide & Energy (1.6 volts) Reverse to refuel: Zinc Oxide + Energy → Zinc + Air

• Simple
• Inexpensive
• Safe
• Refillable, but not

rechargeable

• Breakthrough (Aug

2017) on recharging using iron-nickel- cobalt catalyst

Strategically Located in Uruguay, Brazil, Argentina

San Jorge Shale

In Shale

Nascent Need for Local Frac Sand Supply

• Oil & gas production from the Vaca

Muerta is just starting

• Foreign oil majors investing >$9B so far

to develop the giant Vaca Muerta shale in Argentina

• Frac sand / proppant market expected to

be 800,000 tonnes per year in 2017. Current local production only 6,000t per year

• Almost all of Argentina’s frac sand

imported from Brazil, China & USA Our properties near key shale basins & infrastructure (road, rail & ports)

Rail

Brazil Properties Uruguay Properties Argentine Properties

Vaca Muerta

San Antonio Port Comodoro Port Rio Grande Port

26

TSX: UWE | OTCQB: UWEFF

Favoured route to the Vaca Muerta

Director Experience & Key Areas of Expertise Role on the Board

• Dr. Keith

Barron

• Founded Aurelian Resources & discovered the 13 million ounce (“Moz”) Fruta del Norte

(FDN) gold deposit in Ecuador. FDN was sold to Kinross Gold for $1.3B

• Recipient of PDAC’s Thayer Lindsley International Discovery Award – 2008
• Northern Miner’s Mining Man of the Year – 2008
• Founder of U3O8 Corp.
• Minefinder
• Entrepenuer
• Major shareholder
• Mr. David

Constable

• Was VP- Investor Relations (IR) with Australia’s Normandy Mining until it was acquired by

Newmont;

• VP-IR at FNX during the discovery in Sudbury that took the company from junior explorer

to a producer with a multi-billion dollar market cap;

• Served on the board of Aquiline Resources until it was sold to Pan American Silver;
• Holds a ICD.D designation from Institute of Canadian Directors
• Chairman
• Corporate governance
• Mr. David

Franklin

• Co-founder & MD of WoodsWater Capital LP, a resource-focused private equity firm
• Formerly CEO of Sprott Private Wealth;
• Was market strategist at Sprott where he co-wrote the widely-followed monthly note

“Markets at a Glance” with Eric Sprott

• Investment banking
• Corporate strategy
• Mr. Pablo

Marcet

• Member of Board of Directors of Barrick Gold;
• Participated in start-up of the giant Escondida copper mine in Chile;
• As president of Northern Orion, oversaw project development of the Agua Rica gold-copper

deposit & its subsequent sale to Yamana Gold for $1.6B;

• Was president of Waymar Resources, which merged with Orosur Mining that operates a

gold mine in Uruguay

• Entrepeneur
• Mine developer
• LatAm perspective – has

first-hand knowledge - lives in Argentina

• Mr. David

Marsh

• Extensively experienced metallurgist – was instrumental in installation of Paladin Energy’s

alkaline leach uranium plant at Langer Heinrich and acid leach uranium plant at Kayelekera;

• Expertise in metal extraction from multi-commodity deposits
• Technical expertise
• Corporate strategy
• Dr. Richard

Spencer

See “Management” slide

• Minefinder
• Deep LatAm experience

U3O8 Corp. Board

27

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Name Experience & Key Areas of Expertise Management Role

• Dr. Richard

Spencer

Led the exploration teams that:

• Discovered the 3.3 million ounce Quimsacocha / Loma Larga gold deposit in Ecuador (+23Moz silver);
• Increased gold reserves at Las Cristinas in Venezuela by 65% from 10Moz to 17Moz;
• Grass roots discoveries of copper porphyries in Ecuador – resources are:

23 billion pounds of copper + 4 Moz gold in Mirador, Panantza & San Carlos porphyries

President & CEO

• Mr. John

Ross

• As CFO of IAMGOLD Corp., was the first to introduce the gold “money policy” – converted the

company’s cash to gold at an average price of US$287/oz as an ultracontrarian when the majors were still hedged and when the Bank of England was selling the country’s gold

CFO

• Dr. Hugo

Bastias

• Instrumental in the discovery of the 7.5Moz Veladero gold deposit – now a Barrick mine in Argentina;
• Instrumental in U3O8 Corp.’s uranium discoveries in Colombia & Argentina.

Executive VP – based in Argentina

• Mr. Elpidio

Reis

• M.Sc in Mineral Exploration from Queens University, Ontario & an MBA
• Business Development Director of Rio Tinto – Brazil (1988-2001);
• Was General Manager of Braziron Ltd;
• Instrumental in the development of the 10Moz Morro do Ouro mine – developing processing

techniques for very low grade ore.

Chief Operating Officer – based in Brazil

• Mr. Gabriel

Bastias

• Completed MSc in Mineral Exploration at Queens University, Ontario
• Led the team that discovered U3O8 Corp.’s Laguna Salada uranium-vanadium project in Argentina.

VP Exploration – based in Argentina

U3O8 Corp. Management

28

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

29

U3O8 Corp. Capital Structure

8%

Insiders

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Share Capital after Consolidation

Market cap

(at $0.47)

C$9M Average daily volume (3-mth): 39K Basic shares o/s 19,851,095 Warrants o/s 6,644,387 Options o/s 829,750 Fully diluted 27,325,232

U3O8 Corp. Shareholder Base

Largest Shareholders:

Dr Keith Barron – founder & director; Delaware Street Capital; Extract Capital; JMM Partners; Alpha North Asset Management. 9% 19% 72% Insiders Institutions Other Shareholders

30

Laguna Salada, Argentina

~3 years to potential production

Berlin Project, Colombia

~4 to 5 years to potential production

Corporate Strategy:

Sequential Project Development

Immediate goal – double uranium resource to 20Mlb & upgrade to Measured & Indicated $3.0M Metallurgy & pilot plant $1.5M Social, environmental & permitting $1.0M Feasibility study $1.5M TOTAL to reach mine decision in 2 yrs $7.0M Capex Capex (forex-adjusted) $136M $117M

Development strategy: Project is

sufficiently simple for U3O8 Corp. to put into production or JV with producer & keep minority stake to receive cash flow

Development strategies:

• JV with producer & keep minority stake
• Streaming agreements or royalties on by-

products (phosphate, vanadium, nickel, rare earths) Met tests & refine flowsheet $1.0M Double resource to 50Mlb target & show 70-75Mlb potential $23M Resource upgrade, environmental, permitting, feasibility study $20M TOTAL to reach mine decision $44M Capex $441M

Recommended work & budgets based on PEAs that are preliminary in nature. Resources are not reserves & do not have demonstrated economic viability. No certainty of the PEAs being realized . Conceptual cumulative targets based on mineral resources & exploration results: Colombia – potential 32-34Mt at 0.09% to 0.11% U3O8 (~70-75Mlb) & Argentina – potential150-225Mt at 50ppm to 60ppm U3O8 (~20-25Mlb). Potential quantity & grades are conceptual in nature. There has been insufficient exploration to define mineral resources on the targets. It is uncertain if further exploration will increase the mineral resources on the company’s projects.– see slide 2.

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Richard Spencer, President & CEO richard@u3o8corp.com (416) 868-1491 www.u3o8corp.com

31

APPENDIX FOLLOWS

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Uranium Market Drivers

Unprecedented Nuclear Reactor Build

32

Projected Supply

China 43%

449 518

Reactors by 2024 Operable Reactors today, up from 439 at Dec 2015

Operable Under construction On Order Total

Life extension

• f existing

reactors Closures planned in the short- term

Pre-Fukushima 443 62 156 661 March 2018 449 61 176 674 159 28

Source: Word Nuclear Association, World Nuclear News, Dundee Securities, Timeless Uranium

32

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Uranium Market Drivers

Chinese & Indian Nuclear – long-term growth

33

20 40 60 80 100 120 140 160

1969 1981 1986 1992 1994 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032

Nuclear Energy Output (GW)

China’s nuclear build is exponential

USA’s nuclear output: ~100GW

• China- world’s 2nd largest economy;
• Air polution  non-carbon power sources;
• Water polution  symbiosis between nuclear

& water purification / desalination.

• India - world’s 7th largest economy;
• 7% average GDP growth rate in last 20 years;
• 1/3 of popluation doesn’t have electricity;
• 2/3 electricity provided by coal;
• Per capita electricity use to double by 2020.

Chinese actual & planned nuclear energy output (GW)

50 100 150 200 250 300

1969 1984 1992 1998 2001 2004 2007 2010 2013 2016 2019 2022 2025 2028 2031 2034 2037 2040 2043 2046 2049

Nuclear Energy Capacity (GW)

India’s nuclear energy plan shows that India’s build is also exponential, comparable with China’s

Indian actual & planned nuclear energy output (GW)

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Laguna Salada Project, Argentina:

Project status & pathway to production

34

Landmark agreement with Provincial govt Discovery Initial (10Mlb) NI43-101 uranium resource Increase resource to 20-25Mlbs Trial Mining Pilot processing plant Feasibility Study Construction decision PEA – focus on projected cash cost

Next Steps

$22/lb

Low cash cost

• f production

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Laguna Salada Deposit

Overview

35

Argentina’s only NI 43-101 uranium resource on which a PEA has been completed Simple Geology Simple Mining Simple Processing In-country uranium-enrichment facility Continuous real-time environmental restoration Clear resource-growth potential 10Mlb uranium resource, Vanadium by-product, 10 year mine life Flat-lying in soft gravel Exploration has defined extensions to the deposit Free-digging “migrating trench” Screening to remove pebbles & concentrate uranium – followed by standard alkaline leach Shrubs moved from leading edge of the trench replanted on trailing edge Pilcaniyeu located ~450km from Laguna Salada

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

PEA shows potential for low-cost, near-term production

36

Increasing resource size & production rate has been modelled and shows a very significant improvement to the project’s economics. (This analysis was done internally by U3O8 Corp. and can’t be shown because it has not been verified by an external NI43-101 - compliant study.)

Cash cost of production, capex, mine life & payback period Mine life 10 years Life of Mine average uranium cash cost of production1 $21.62/lb Average uranium cash cost of production over 2½ year payback1 $16.14/lb Total capital (incl. sustaining & 20% contingency) $136M

1 Projected uranium cash cost, net of vanadium credit & incl. 3% NSR to the Provincial

Government.. Laguna Salada PEA – see cautionary statements on slide 2

Laguna Salada Project PEA Highlights

PEA Highlights (base case, in US$ at US$60/lb U3O8)

Annual production Uranium Vanadium 0.6Mlb 0.96Mlb Revenue $223M $53M Principal Financial Metrics Pre-Tax After-Tax NPV discount rate 7.5% 10% 7.5% 10% NPV (incl royalties due to State) $55M $43M $31M $22M IRR 24% 18%

A Green Resources Company

36

TSX: UWE | OTCQB: UWEFF

Laguna Salada Deposit

PEA Summary

➢ 1st independent PEA completed on a uranium deposit in Argentina;

➢ Study completed by Tenova (Bateman) >100 years of experience; ➢ Resource: ➢ 10Mlbs uranium (6.4Mlbs recoverable); ➢ 84Mlbs vanadium (10Mlbs recoverable); ➢ Projected average annual production 0.6Mlb uranium over 10 year mine life: Argentina requires 0.4Mlbs per year to operate its three reactors – currently imports 100% of its fuel requirement  potential for off-take agreement; ➢ 1Mlb/annum vanadium production; ➢ Focus of the PEA was cash-cost of production: ➢ US$21.62/lb average over the life of the mine; ➢ US$16.14/lb during the 2½ year payback period; ➢ Demonstrates potential for production cost that is competitive with in situ leach and Athabasca Basin deposits. ➢ Capex: $136M incl 20% contingency. US$ strength against currencies in which plant equipment was quoted could reduce Capex by ~15%.

37

1 Projected uranium cash cost, net of vanadium credit & includes a 3% NSR to the Provincial Government. The PEA is preliminary in nature.

Includes resources that are not reserves & do not have demonstrated economic viability. No certainty of the PEA being realized. – see slide 2

A Green Resources Company

37 TSX: UWE | OTCQB: UWEFF

Berlin Project, Colombia:

Project status & pathway to production Highest-value project in U3O8 Corp’s portfolio with one of the lowest projected uranium extraction costs in the industry

38

Built on discovery by Cogema (Areva) Initial (21Mlb) NI43-101 uranium resource Having confirmed low potential production cost in PEA Increase resource to 50Mlb threshold Pilot processing plant Feasibility Study Construction decision PEA – focus on projected cash cost

Next Step

Test alternative extraction techniques

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

39

Berlin:

Introduction

Berlin: ➢ A uranium-bearing phosphate layer in sedimentary rocks - contains a rare mix of nickel, vanadium, rare earths and other metals; ➢ The current 21 million pound uranium resource is from 3km of a 10.5km uranium- phosphate – bearing trend  there is room for resource growth to 70-75 million pounds of uranium; ➢ Extensive metallurgical test work has shown that this mix of commodities can be cost- effectively extracted from the rock; ➢ Good infrastructure:

• located 12km from a hydroelectric plant;
• 60km from the Magdalena river that is

navigable by barge to the Caribbean Sea;

• 60km from principal paved highway and a

railway that it being refurbished; ➢ Local community is supportive of the project; ➢ Mining would be by underground methods and the uranium-phosphate rock would be processed

• n site to remove the contained metals.

COLOMBIA

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Berlin Deposit

Cross Section

40

Sandstone

Mineralized layer

Shale

➢ Mineralization in 3m thick

layer; ➢ Remarkable continuity; ➢ Underground mining

• peration;

➢ Minimal mine footprint; ➢ Waste would be replaced in backfill of underground excavations; ➢ Cut and fill mining in the steep areas combined with room and pillar in the flat areas.

West East

40

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

41

Berlin Project, Colombia

Multi-commodity Resource

Current resources defined in compliance with NI 43-101 (0.04% U3O8 cut-off grade)

• n southern 3km of a 10.5km mineralized trend

Tonnes (million) Uranium Phosphate Vanadium Yttrium Grade (Mlb) Grade (Mt) Grade (Mlb) Grade (t) 0.6 0.11% 1.5 8.4% 0.05 0.4% 6.0 461ppm 294 8.1 0.11% 19.9 9.4% 0.8 0.5% 91.0 500ppm 4,066 Tonnes (million) Neodymium Nickel Molybdenum Rhenium Grade (t) Grade (Mlb) Grade (Mlb) Grade (t) 0.6 110ppm 70 0.2% 3.1 570ppm 0.8 6ppm 4 8.1 100ppm 813 0.2% 42.1 620ppm 11.0 7ppm 55 Tonnes (million) Zinc Silver Grade (Mlbs) Grade (Moz) 0.6 0.30% 4.4 2.8ppm 0.1 8.1 0.30% 45 3.4ppm% 0.9

Current resource in southern 3km of 10.5km trend

A Green Resources Company

Drilled Area

4km 3.5km 3km

Trenched Area

10.5km Mineralized Trend

TSX: UWE | OTCQB: UWEFF

42

Berlin Project

PEA: commodities produced, % of revenue generated by each commodity

1 PEA estimates are preliminary in nature. Includes resources that are not reserves & do not have demonstrated economic

• viability. No certainty of the PEA being realized. INTERNAL DISCUSSION PURPOSES – see slide 2

Uranium: Nuclear energy Vanadium: Steel alloys, batteries Main uses of commodities: Phosphate: Fertilizer, batteries Yttrium: Lazers, electronics, monitors Neodymium: Magnets, high-efficiency motors Nickel: Stainless steel, batteries, fertilizer Base metals: Steel alloys, fertilizer, Zn-Ce flow batteries, galvanizing, alloys

Uranium 35% Phosphate 31% Nickel 15% Vanadium 9% Yttrium 6% Neodymium 1% Moly, Zinc 3%

Metals & Phosphate extracted in a single metallurgical process – iron sulphate leach – was the principal process used at Elliot Lake

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

43

Berlin Project’s Other Commodities:

“Clean Energy & Agriculture Commodities”

Battery Commodities: Nickel, Vanadium, Phosphate Phosphate for fertilizer

Berlin contains 3 micronutrients used in speciality fertilizers

Ni Zn Mo

Rare Earth Elements:

• Neodymium for

supermagnets in motors & generators;

• Yttrium for red phosphors

in screens an lazer technology

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

44

Potential to be a large, very low-cost uranium producer

Projected Base Case – PEA Highlights (US$60/lb U3O8), reported in US$

Annual uranium production 1.2Mlb Mine life 15 years Cumulative free cash flow $982M Pay-back period 4.6 years Initial capex $360M Sustaining capital $40M Contingency $41M Total capex (incl. 10% contingency) $441M

Berlin Deposit:

PEA Highlights

• 1. Projections based on Berlin PEA – see cautionary statements on slide 2

Principal Financial Metrics Pre-Tax After-Tax NPV discount rate 7.5% 10% 7.5% 10% NPV (incl royalties due to State) $338M $223M $198M $112M IRR 19% 15%

$1.8Billion of by-product revenues would cover the $1.6Billion

• perating cost (cost of mining & extraction)1

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

45

3km 3.5km

N

Berlin Project

Drilling has shown Resource Growth Potential

1Target based on mineral resources & exploration

results for potential 32-34Mt at 0.09% to 0.11% U3O8 (~70-75Mlb) Potential quantity & grades are conceptual in nature. There has been insufficient exploration to define a mineral resource on these targets & it is uncertain if further exploration will increase the current deposit – see slide 2.

Green unit contains uranium &

• ther minerals

4km

25-30Mlb

resource potential already identified by drilling

>25Mlb

potential identified by trenching ➢ 21Mlb NI 43-101

Uranium Resource ➢ 25-30Mlb potential exploration-drilled area ➢ >25Mlb – northern area – potential indicated by trenching

> 70-75Mlb potential

21Mlb

Current NI 43-101 uranium resource

10.5km Mineralized Trend

A Green Resources Company

TSX: UWE | OTCQB: UWEFF

Berlin Deposit

Potential to Improve Project’s Economics

46

➢ Potential to reduce operating (Opex) and capital costs (Capex): ➢ Test work on the effectiveness of alternative techniques for the extraction of metals and phosphate (eg. Use of membrane systems to separate the metals); ➢ Potential to increase revenue: ➢ Removal of carbonate to reduce reagent consumption (lower

• perating costs);

➢ Current PEA only considers revenue stream from two Rare Earth Elements (Neodymium & Yttrium). Include other REEs such as Dysprosium & Europium in revenue stream; ➢ Reduce electricity cost by capturing excess heat generated by the processing plant. ➢ Increase the uranium resource – the target is 70-75Mlbs1. Economics of the deposit are strongly geared to deposit size.

46

A Green Resources Company

1Target based on mineral resources & exploration results for potential 32-34Mt at 0.09% to 0.11% U3O8 (~70-75Mlb)

Potential quantity & grades are conceptual in nature. There has been insufficient exploration to define a mineral resource on these targets & it is uncertain if further exploration will increase the current deposit – see slide 2.

TSX: UWE | OTCQB: UWEFF