AIF Altus Group Limited

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Uranium Participation Corporation ("Uranium Corp" or the "Corporation") (TSX:U)
announced today that it has received approval from the Toronto Stock Exchange
(the "TSX") to acquire for cancellation, by way of normal course issuer bid (the
"Bid"), up to 7,886,393 common shares of the Corporation ("Shares"), which, at
the date hereof, represent approximately 10% of the public float. The
Corporation may purchase up to 2,151,196 Shares in any 30-day period which is 2%
of the 107,559,813 issued and outstanding Shares as at June 9, 2011.


The purchases may commence on June 14, 2011 and will terminate on June 13, 2012
or on such earlier date as Uranium Corp completes its purchases. The purpose for
the Bid is to provide Uranium Corp with a mechanism to decrease the potential
spread between the net asset value per Share and the market price of the Shares.


Purchases will be made by the Corporation in accordance with TSX requirements,
and the price which the Corporation will pay for any Shares will be the market
price of the Shares at the time of acquisition. All purchases will be effected
through the facilities of the TSX. All purchased Shares will be cancelled.


Since being listed on the TSX in May 2005, the Corporation has not repurchased
any of its outstanding Shares.


To the knowledge of the Corporation, no director, senior officer or other
insider of the Corporation currently intends to sell any Shares under the Bid.
However, sales by such persons through the facilities of the TSX may occur if
the personal circumstances of any such person change or any such person makes a
decision unrelated to these normal course purchases. The benefits to any such
person whose Shares are purchased would be the same as the benefits available to
all other holders whose Shares are purchased.


A copy of the Corporation's Notice filed with the TSX may be obtained, by any
shareholder without charge, by contacting Uranium Corp's Corporate Secretary.


CAUTION REGARDING FORWARD LOOKING INFORMATION

Certain of the statements contained herein may contain forward looking
statements and forward looking information that are based on the Corporation's
current internal expectations, estimates, assumptions and beliefs. Forward
looking statements generally can be identified by the use of forward looking
terminology such as "may", "will", "expect", "intend", "estimate", "anticipate",
"plan", "should", "believe" or "continue" or the negative thereof or variations
thereon or similar terminology. 


By their very nature, forward looking statements involve numerous assumptions
and estimates. The Corporation has made certain assumptions about the forward
looking statements and information contained herein, including its ability to
acquire Shares in the market through the Bid and in compliance with regulatory
requirements. A variety of factors, many of which are beyond the control of the
Corporation, may cause actual results to differ materially from the expectations
expressed in the forward looking statements, such as future market conditions
and the behaviors of other market participants. For a list of the principal
risks of an investment in Uranium Corp, please refer to the "RISK FACTORS"
section of the Corporation's Annual Information Form ("AIF") dated May 19, 2011
available on Uranium Corp's website and SEDAR. These and other factors should be
considered carefully, and readers are cautioned not to place undue reliance on
these forward looking statements. Although management reviews the reasonableness
of its assumptions and estimates, unusual and unanticipated events may occur
which render them inaccurate. Except where required under applicable securities
legislation, the Corporation does not undertake to update any forward looking
information.


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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