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Uranium Participation Corporation (TSX:U) ("UPC") reports its estimated net
asset value at March 31, 2012 was CDN$705.4 million or CDN$6.63 per share. As at
March 31, 2012, UPC's investment portfolio consisted as follows:




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(in thousands of                                                            
 Canadian dollars,                                                          
 except quantity                                                            
 amounts)                        Quantity           Cost     Market Value   
----------------------------------------------------------------------------
                                                                            
Investments in Uranium:                                                     
  Uranium oxide in                                                          
   concentrates ("U3O8")    7,250,000 lbs      $ 342,495       $  369,417   
  Uranium hexafluoride                                                      
   ("UF6")                  2,374,230 KgU      $ 389,998       $  326,163   
                                                                            
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                                               $ 732,493       $  695,580   
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  U3O8 average cost and                                                     
   market value per                                                         
   pound:                                                                   
    - In Canadian                                                           
     dollars                                   $   47.24       $    50.95(1)
    - In United States                                                      
     dollars                                   $   43.23       $    51.00   
  UF6 average cost and                                                      
   market value per KgU:                                                    
    - In Canadian                                                           
     dollars                                   $  164.26       $   137.38(1)
    - In United States                                                      
     dollars                                   $  152.06       $   137.50   
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(1) Converted at the March 31, 2012 exchange rate of $0.9991.               



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.
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