RiskMetrics Group Reaffirms Support "FOR" U3O8 Corp's Director Nominees

Market Wire, June, 2008

U3O8 Corp. (TSX VENTURE: UWE), a Canadian uranium exploration company, announced today that RiskMetrics Group / Institutional Shareholder Services (ISS)(i) has reaffirmed its earlier recommendation that U3O8 Corp. shareholders vote FOR the company's slate of director nominees at the Annual and Special Meeting of Shareholders to be held on Thursday, June 26, 2008, and AGAINST the slate proposed by Aberdeen International Inc.

In its June 23, 2008 report, RiskMetrics/ISS noted that a proxy contest had been initiated by Aberdeen on June 16, 2008 in connection with U3O8 Corp's annual shareholders' meeting. After a review of the points made by Aberdeen in its challenge to the existing board and U3O8 Corp's response, RiskMetrics/ISS concluded:

"Our finding is that the Dissident does not have a concrete plan to enhance shareholder value except by acquiring key near term production assets. As such, we CONTINUE to recommend shareholders vote the management proxy including supporting the management slate."

"We are pleased that RiskMetrics supports the election of U3O8 Corp's director nominees following their careful review of the facts," said Dr. Richard Spencer, President and CEO of U3O8 Corp. "This recommendation confirms our view that the current board is the appropriate Board of Directors for U3O8 Corp. We strongly urge all U3O8 Corp. shareholders to vote FOR U3O8 Corp's highly qualified and experienced board nominees."

RiskMetrics/ISS is widely recognized as a leading independent proxy voting and corporate governance advisory firm. Their analysis and recommendations are relied upon by many major institutional investment firms, mutual funds and fiduciaries throughout North America.

Aberdeen's Press Release on June 23, 2008

Further to Aberdeen's statement that "Aberdeen has requested and met all conditions under the Ontario Business Corporations Act to receive the complete shareholders list from U3O8 Corp. including the Non-Objecting Beneficial Owner ("NOBO") list", U3O8 Corp. provided the registered shareholder list as soon as Aberdeen met those conditions on June 20, 2008, and took immediate steps to obtain the NOBO list from the transfer agent. U3O8 Corp. has advised Aberdeen that the company will provide the NOBO list once it is received and in accordance with applicable securities law to provide such list within 10 days.

U3O8 Corp. reminds shareholders that Aberdeen established its own timetable when it filed its dissident circular on SEDAR on June 16, 2008, ten days prior to U3O8 Corp's annual shareholders' meeting

Discovery-Oriented, Experienced Board & Management

U3O8 Corp's accomplishments are attributed to the focused and experienced leadership of the company's executive team directed by a seasoned Board of Directors, which together have more than 130 years of global exploration, technical, financial and business expertise. In particular, U3O8 Corp's management and Board of Directors bring extensive knowledge, local relationships and operational experience in South America and a record of making discoveries. Members of the Board have been involved with the discovery of 16 million ounces of gold (Fruta Del Norte and Quimsacocha) with an in situ value exceeding $10 billion and similar value in the Mirador and San Carlos copper deposits in Ecuador.

The qualifications of U3O8 Corp's directors are in contrast to Aberdeen's proposed slate of financiers and consultants. U3O8 Corp's Board of Directors consists of a majority of independent board members, who serve as directors on a select number of companies. Aberdeen's alternate slate comprises of Mr. Stan Bharti, who serves on the board of more than 20 companies including companies in which his other proposed nominees are also board members. In the view of U3O8 Corp., Aberdeen is attempting to take control of U3O8 Corp. at no cost.

Vote "FOR" U3O8 Corp's Nominees

U3O8 Corp. strongly encourages shareholders to carefully consider the significant exploration results accomplished to date and the qualifications of the current Board of Directors and management in making its decision to vote in favour of the current Board of Directors. Highlights of U3O8 Corp's exploration strategy, achievements and qualifications of the current directors were presented in the press release dated June 18, 2008, which is available on the company's website www.u3o8corp.com .

Shareholders are urged to reaffirm their support for the company's existing directors by submitting their WHITE form of proxy that was enclosed with the Information Circular sent by U3O8 Corp. in connection with the annual meeting, and vote in favour of the re-election of U3O8 Corp's slate of director nominees. Shareholders with any questions or requiring assistance in obtaining a replacement proxy or in completing their proxy form, are asked to contact Nancy Chan-Palmateer, Vice President, Investor Relations at U3O8 Corp. at 416-868-1491 or nancy@u3o8corp.com . Shareholders' votes are extremely important in order that U3O8 Corp. can stay on course. U3O8 Corp. must receive a WHITE proxy form no later than 4:30 p.m. (Toronto time) today, Tuesday, June 24, 2008 for the shareholder's vote to be counted. Even if you have already voted using the dissident proxy, you have every right to change your vote by executing U3O8 Corp's WHITE proxy form; it is the later-dated proxy that will be counted.