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Press release from Marketwire

Uranium Participation Corporation Reports Net Asset Value at October 31, 2011

Wednesday, November 02, 2011

Uranium Participation Corporation Reports Net Asset Value at October 31, 201110:28 EDT Wednesday, November 02, 2011TORONTO, ONTARIO--(Marketwire - Nov. 2, 2011) -THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.Uranium Participation Corporation ("UPC")(TSX:U) reports its estimated net asset value at October 31, 2011 was CDN$729.4 million or CDN$6.81 per share. As at October 31, 2011, UPC's investment portfolio consisted as follows:(in thousands of Canadian dollars, except quantity amounts)QuantityCostMarket ValueInvestments in Uranium:Uranium oxide in concentrates ("U3O8")7,250,000 lbs$ 342,495$ 374,550Uranium hexafluoride ("UF6")2,374,230 KgU$ 389,998$ 338,487$ 732,493$ 713,037U3O8 average cost and market value per pound:- In Canadian dollars$ 47.24$ 51.661- In United States dollars$ 43.23$ 52.00UF6 average cost and market value per KgU:- In Canadian dollars$ 164.26$ 142.571- In United States dollars$ 152.06$ 143.501 Converted at the October 31, 2011 exchange rate of $0.9935. In the month of October 2011, UPC repurchased 274,900 of its common shares at a cost of CDN$1,464,000 under a normal course issuer bid.About Uranium Participation CorporationUranium Participation Corporation is an investment holding company which invests substantially all of its assets in uranium oxide in concentrates (U3O8) and uranium hexafluoride (UF6) (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumparticipation.com.FOR FURTHER INFORMATION PLEASE CONTACT: Ron HochsteinUranium Participation CorporationPresident(416) 979-1991 Ext. 232ORJames AndersonUranium Participation CorporationChief Financial Officer(416) 979-1991 Ext. 372www.uraniumparticipation.com