Executive Chairman reduces shareholding

Vancouver, October 12, 2018 - Today, Govind Friedland, Executive Chairman of GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or the "Company"), has sold 8 million Class A common shares of GoviEx, following which he continues to hold approximately 23.7 million Class A common shares. Mr. Friedland remains the Company's largest individual shareholder and the third largest shareholder overall.

Mr. Friedland commented, "I have recently moved back to North America, in part to focus on and strengthen GoviEx's marketing and future capital raising activities, and for personal reasons, which have necessitated this sale. I have held these shares for over a decade and continue to hold a leading position. I remain as committed as I have always been to GoviEx."

The shares were sold in a private transaction to a sophisticated and strategic investor who has been a long-term shareholder of the Company since it was founded in 2007, and who has participated in GoviEx's offerings since it became a public company. The shares were acquired for investment purposes.

About GoviEx Uranium

GoviEx is a mineral resource company focused on the exploration and development of uranium properties. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its Mine Permitted Madaouela Project and its other uranium properties in Africa.

Information Contacts

Website: www.goviex.com
Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
+1 604-681-5529
info@goviex.com

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