Uranium Participation Corporation Reports Net Asset Value at January 31, 2011

TORONTO, ONTARIO -- (Marketwire) -- 02/17/11 -- THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Uranium Participation Corporation ('Uranium Corp') (TSX: U) reports its net asset value at January 31, 2011 was CDN$999,656,000 or CDN$9.40 per share. On a fully diluted basis, after assuming the exercise of outstanding stock options, net asset value per share was CDN$9.37. As at January 31, 2011, Uranium Corp's investment portfolio consisted as follows:

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(in thousands of Canadian
 dollars, except quantity                                       Market
 amounts)                               Quantity      Cost       Value
----------------------------------------------------------------------

Investments in Uranium:
  Uranium oxide in concentrates
   ('U3O8')                        7,250,000 lbs $ 342,495 $   530,414
  Uranium hexafluoride ('UF6')     2,374,230 KgU $ 389,998 $   483,029

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                                                 $ 732,493 $ 1,013,443
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  U3O8 average cost and market
   value per pound:
    - In Canadian dollars                        $   47.24 $  73.16(1)
    - In United States dollars                   $   43.23 $     73.00
  UF6 average cost and market
   value per KgU:
    - In Canadian dollars                        $  164.26 $ 203.45(1)
    - In United States dollars                   $  152.06 $    203.00
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(1)Converted at the January 31, 2011 exchange rate of $1.0022.

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.

Contacts:

Uranium Participation Corporation

Ron Hochstein

President

(416) 979-1991 Ext. 232


Uranium Participation Corporation

James Anderson

Chief Financial Officer

(416) 979-1991 Ext. 372