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Uranium Participation Corporation (TSX:U) ("UPC") reports its estimated net
asset value at December 31, 2011 was CDN$737.5 million or CDN$6.94 per share. As
at December 31, 2011, 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  $    381,566
 Uranium hexafluoride ("UF6")       2,374,230 KgU  $   389,998  $    346,494
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                                                   $   732,493  $    728,060
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U3O8 average cost and market value                                          
 per pound:                                                                 
  - In Canadian dollars                            $     47.24  $   52.63(1)
  - In United States dollars                       $     43.23  $      51.75
UF6 average cost and market value                                           
 per KgU:                                                                   
  - In Canadian dollars                            $    164.26  $  145.94(1)
  - In United States dollars                       $    152.06  $     143.50
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(1) Converted at the December 31, 2011 exchange rate of $1.0170.            



In the month of December 2011, UPC repurchased 500,000 of its common shares at a
cost of CDN$2,808,000 under a normal course issuer bid.


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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