UEX Clarifies Raven and Horseshoe Deposits News Release of June 14, 2007



    Trading Symbol: UEX-TSX

    VANCOUVER, June 14 /CNW/ - Reference is made to UEX Corporation's ("UEX")
news release dated June 14, 2007 entitled "UEX Plans to Initiate Final
Feasibility Study at Raven and Horseshoe Deposits Following Receipt of N.I.
43-101 Compliant Resource Estimate". Although the news release was pre-cleared
by Market Surveillance prior to being issued, the Toronto Stock Exchange has
since requested that UEX issue a further news release clarifying the table on
the first page of the news release relating to gross metal values per tonne at
various grades.
    UEX included this table for information purposes only, and investors
should not apply such uranium values to the Raven and Horseshoe Deposits, for
which no resource estimates have yet been calculated, and no feasibility
studies have been completed.

    About UEX

    UEX is a Canadian uranium exploration company formed under an agreement
between Pioneer Metals Corporation and Cameco. Cameco, the world's largest
supplier of uranium, is UEX's largest shareholder. UEX began trading on the
Toronto Stock Exchange in July 2002 and is actively involved in the
exploration and development of 19 uranium projects, including seven that are
100% owned and operated by UEX, one joint venture with AREVA that is operated
by UEX, ten under option from AREVA and one under option from Japan-Canada
Uranium Company, Limited, which are operated by AREVA. The 19 projects,
totaling 386,650 hectares (955,400 acres), are located in the eastern, western
and northern perimeters of the Athabasca Basin, the world's richest uranium
belt, which accounts for approximately 30% of the global primary uranium
production. UEX's exploration budget for 2007 is $25.0 million, and the
Company has a cash position of approximately $65.0 million.

    
           ON BEHALF OF THE BOARD OF DIRECTORS OF UEX CORPORATION

                   Stephen H. Sorensen, President & C.E.O.
    

    Forward-Looking Statements
    This news release contains "forward-looking statements" that are based on
UEX'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 the commencement or advancement of
exploration activities on our properties, and other expectations, intention
and plans that are not historical fact. The words "estimates", "projects",
"expects", "intends", "believes", "plans", or their negatives or other
comparable words and phrases are intended to identify forward-looking
statements. Such forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Many of these factors are beyond the control of UEX. Consequently,
all forward-looking statements made in this news release are qualified by this
cautionary statement and there can 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 such forward-looking
statements. UEX disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.

    %SEDAR: 00017609E




For further information:

For further information: UEX CORPORATION, Suite 1007 - 808 Nelson
Street, Vancouver, B.C., Canada, V6Z 2H2, PH: (604) 669-2349, FAX (604)
669-1240, Website: www.uex-corporation.com, email: uex@intergate.ca

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UEX Corporation

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