UEX Corporation announced its 2022 winter exploration plans for its projects located in the Athabasca Basin of northern Saskatchewan. UEX will be operating drilling programs at the Christie Lake and Hidden Bay Projects this winter. Winter programs are also planned on UEX's 50% owned company, JCU Canada Exploration Company, Limited ("JCU") partner-operated projects.

Winter exploration drilling is planned for three target areas at Christie Lake using two drill rigs. The winter program will consist of approximately 15 holes for a total of 9,000 m of drilling. Based upon the UEX Exploration Team's updated structural interpretation of the Yalowega Trend, the priority of the winter program will be focused on exploring for basement-hosted uranium deposits below, down-dip and down-plunge of the Paul Bay, Ken Pen and rora Deposits, as well as down-dip of existing uraniferous holes located in the gap areas between the three deposits.

The presence of structurally-controlled basement mineralization below known unconformity-hosted mineralization is commonly observed in the Athabasca Basin, such as at the Kianna, 58B, and Anne Deposits at UEX's Shea Creek Project, the Millennium Deposit and at the mined out Gaertner and Deilmann Deposits at Cameco's Key Lake Mine. This winter, the Company will be following up on two target areas on the 100% owned Hidden Bay Project, located in the heart of the eastern Athabasca Basin, adjacent to Cameco's Rabbit Lake Mine and Orano's McClean Lake Operation. Exploration activities will be occurring on two partner-operated JCU joint-venture projects this winter.

A total of 7,400 m of drilling in 10-12 drill holes and 18 line km of Moving Loop Electromagnetic surveying is planned for the Waterfound River Project along the D1 conductor trend, which hosts the Alligator Zone where unconformity uranium mineralization was encountered in several holes including hole WF-08, which interested 4.49% U3O8 over 10.53 m. JCU has a 26.98% interest (as of December 31, 2020) in the Waterfound River Project and has elected to participate in the 2022 program.