Allgemein

January, 23, 2019

GoviEx Market Update & Letter to Stakeholders
VANCOUVER, CANADA
GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) (“GoviEx”or “Company”) today provides a Market Update & Letter to Stakeholders
from the Executive Chairman, Govind Friedland and the Chief Executive Officer, Daniel Major.
To Our FellowStakeholders, Thank you for placing your trust in our team during a turbulent 2018 and continuing to support
our efforts to build GoviEx into a significant uranium company. We wish to reaffirm our belief in the fundamentals of nuclear power and to state clearly
our resolve to play a leading role in the development of clean energy solutions for years to come. We appreciate this opportunity to present our perspective
of the sector as we advance into 2019. We do so with increased confidence in the overall uranium and nuclear industries, and our positioning to respond to
improving market conditions and underlying sector fundamentals. As a uranium exploration and development company, GoviEx has one of the largest
undeveloped mineral resources in the industry and two mine-permitted projects, which includes our flagship project located in Niger (the “Madaouela Project”)
that has key infrastructure (road access, skilled mine labor, ground water and grid power) already in place. (1)
Our team has been operating in Niger for more than 10 years, taking the Madaouela Project from early exploration to mine permitted project in that time frame,
and we are grateful for the work completed by our predominately local team, the strong support from the local communities and all levels of government as we
focus on the next phase of development. When we reflect on market dynamics, the spot uranium price (2) was US$22.32/lb U3O8 at the beginning of 2018 and
had risen to US$29.10/lb U3O8 by the end of the year. Global nuclear energy generation has returned to the levels last seen in 2011. The rate of global reactor
construction is now at the highest level in the past 25 years. (5) With the announcement recently of six new power reactor construction starts in China and the
restart of nuclear reactors in Japan, we should expect the level of nuclear energy generation to continue its rise. The supply constraint shouldered by the major
uranium producers, combined with the increase in uranium inventories shifting to investment funds, has resulted in the supply of the yellow metal being in a deficit
with forecasts now indicating that the uranium price will continue to rise through 2019. From a corporate finance perspective, in 2018 the Company successfully resolved,
at a substantial discount, the 6 year old Toshiba B Bond that removed not only a leveraged loan from the balance sheet but also the related loan security, a n important steps
towards securing project finance for the Madaouela Project.
Responding to an expected improvement in uranium price the Company appointed SRK Consulting (UK) Ltd
(“SRK ”) and SGS Bateman (Pty) Ltd (“SGS”) as the consultants for the completion of a feasibility study for the Madaouela Project. SRK and SGS have considerable
experience in uranium and African project development. Together, our teams are focused on 2 options that have the potential to improve the feasibility of the Madaouel
a Project. Some of these include (3)
-Negotiations with the Government of Niger to include in the Madaouela Mining Permit the mineral resources associated with the Miriam deposit situated on Agaliouk
Exploration Permit. The Miriam deposit on the Agaliouk Permit includes 5.96 million pounds (Mlb) U3O8 in the Measured and Indicated categories.
-Analysis of contractor mining operations vs owner operator mining (as currently forecast in the current pre-feasibility study 1), which has the potential to significantly
reduce up front capital costs.
-The inclusion of membrane separation in the Madaouela Project process design could potentially reduce operating and capital costs.
-Potential of stand-alone solar hybrid power supply to reduce power supply risks and reduce power costs.
Please read the complete press release at the following link: LINK