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GoviEx Uranium to complete Environmental and Social Impact Assessment for the Madaouela Uranium Project in Niger

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/03/14 -- GoviEx Uranium Inc. ("GoviEx") (CSE: GXU) announced today that the Company has executed contracts with SRK Consulting (UK) Ltd ("SRK") and Legeni S.A. ("Legeni") to finalize the completion of the Environmental and Social Impact Assessment ("ESIA") for the Madaouela Project in Niger (the "Project").

As stated in its prospectus dated May 8, 2014, GoviEx intends to use the proceeds of its initial public offering together with existing working capital to fund the completion of the Madaouela ESIA. The ESIA and the feasibility study will support GoviEx's mining permit application for the Project located in the prolific Arlit uranium-mining district of northern Niger.

"GoviEx's strategy remains focused on adding value and that includes strategically reducing the risk associated with the Project. The completion of the ESIA will culminate the detailed feasibility study and environmental work already undertaken to date," said GoviEx Chief Executive Daniel Major.

Mr. Major went on to say, "A successful application for the mining license would provide GoviEx the option to commit additional capital and finalize optimisation of the Project. Through the use of proprietary technologies never before used in Niger, our Project team has presented a commercially viable project and one that seeks to limit its impact on the environment with a particular focus on limitation of dust, reduction in water usage and commercialization of the molybdenum by-product resource."

Industry leading consultant SRK, working with an in-country environmental partner Legeni, have already completed initial environmental and social (E&S) works during the previous phases of the Project, as presented in the Technical Report dated September 20, 2013 and amended on April 28, 2014, titled "An Updated Integrated Development Plan for the Madaouela Project, Niger" available on SEDAR.

The work undertaken by Legeni, with support from SRK, included meetings with regulatory authorities, including the commencement of primary baseline data collection (water resources, social, soils, air quality, dry season flora/fauna), preparation of the initial submission to Nigerien authorities and identification of likely issues, risks and opportunities for the Project.

The mandate of SRK and Legeni includes completion of the ESIA by expanding on previous work and the outcome of discussions with various stakeholders and regulatory authorities from May 2013. Specifically, the activities will enable preparation of an ESIA report suitable for submission to the Niger regulatory authorities with the aim of obtaining environmental approval for a 20-year extendable mining permit for the Project. The ESIA process is also designed to support GoviEx in identifying and addressing risks and opportunities associated with Environmental and Social issues so that these can be appropriately addressed with detailed engineering design.

About GoviEx Uranium Inc.

GoviEx is a mineral resource company incorporated in British Columbia focused on the exploration and development of uranium properties. The Company's principal objective is to become a significant uranium producer through the continued exploration and development of its Madaouela Project and its other uranium properties in Niger.

Visit GoviEx's website at www.goviex.com

Forward-Looking Statements and Disclaimer

This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to GoviEx at this time and involve known and unknown risks, uncertainties and other factors that may cause GoviEx's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting GoviEx's business and activities appears under the heading "Financial Risks and Management Objectives" of its MD&A for the interim period ended March 31, 2014 as well under the heading "Risk Factors" of its prospectus dated May 8, 2014 available at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that GoviEx will derive there from. In particular, no assurance can be given as to the future financial performance of GoviEx. The forward-looking information contained in this press release is made as of the date hereof and GoviEx undertakes no obligation to publicly update such forward looking information to reflect new information, subsequent or otherwise, except as may be required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.

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