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Uranium Participation Corporation ("UPC") (TSX:U) reports its estimated net
asset value at April 30, 2012 was CDN$705.5 million or CDN$6.63 per share. As at
April 30, 2012, UPC's investment portfolio consisted as follows:




----------------------------------------------------------------------------
(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    $  370,835
  Uranium hexafluoride ("UF6")          2,374,230 KgU $389,998    $  325,016
                                                                            
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                                                      $732,493    $  695,851
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  U3O8 average cost and market value                                        
   per pound:                                                               
    - In Canadian dollars                             $  47.24    $ 51.15(1)
    - In United States dollars                        $  43.23    $    51.75
  UF6 average cost and market value per                                     
   KgU:                                                                     
    - In Canadian dollars                             $ 164.26    $136.89(1)
    - In United States dollars                        $ 152.06    $   138.50
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(1) Converted at the April 30, 2012 exchange rate of $0.9884.               



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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