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Press release from Marketwire

Uranium Participation Corporation Reports Net Asset Value at January 31, 2012

Thursday, February 02, 2012

Uranium Participation Corporation Reports Net Asset Value at January 31, 201208:45 EST Thursday, February 02, 2012TORONTO, ONTARIO--(Marketwire - Feb. 2, 2012) -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 January 31, 2012 was CDN$724.8 million or CDN$6.82 per share. As at January 31, 2012, 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$378,960 Uranium hexafluoride ("UF6")2,374,230 KgU$389,998$336,507$732,493$715,467 U3O8 average cost and market value per pound: - In Canadian dollars$47.24$52.271 - In United States dollars$43.23$52.00 UF6 average cost and market value per KgU: - In Canadian dollars$164.26$141.731 - In United States dollars$152.06$141.001Converted at the January 31, 2012 exchange rate of $1.0052. About Uranium Participation Corporation Uranium 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