GoviEx Uranium awarded Best Mining Project at the Africa Investment Forum in Paris, France

The AIFA is an event dedicated to Africa business opportunities in fields such as mining, energy, infrastructure, and real estate. A rigorous judging and selection process decided the winners in a variety of categories. A jury of experts voted for the best shortlisted projects, based on industry experience, market knowledge, and an application form provided by the nominees.

Criteria included the following:

• Consistency and quality of the investment and its evolution over the last three years.
• Innovation ability.
• Corporate Social Responsibility vision.

GoviEx's nomination form detailed the timeline of the Company's exploration and development of its African uranium properties, and highlighted GoviEx's community initiatives in Zambia and Niger.

"We are proud to be recognized for our ongoing efforts in Africa," said Daniel Major, GoviEx's Chief Executive Officer. "Having successfully acquired a portfolio of high-quality uranium development and exploration projects in Africa, we now are focused on advancing our projects though the development-ready stage so that we are well positioned to take advantage when the uranium market recovers."

About GoviEx Uranium

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its other uranium properties in Africa.

Contact information

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement regarding forward-looking statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include, without limitation, statements regarding the Company's efforts to advance its projects though the development-ready stage and to position the Company to take advantage of an anticipated uranium market recovery, and other statements that are not facts. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which GoviEx operates, are inherently subject to significant operational, economic, and competitive uncertainties and contingencies.

Assumptions upon which forward-looking statements have been made in this news release include that the uranium market may be reaching a turning point and that the long-term fundamentals of the uranium market remain very strong, and that the price of uranium will rise sufficiently high and the costs of advancing the GoviEx's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (ii) a continued low price of uranium below what is necessary to sustain the Company's operations; (iii) an inability to achieve the anticipated production rates for the Company's projects due to technical, legal, economic, or other factors; (iv) an increase in the Company's operating costs above what is necessary to sustain its operations; (v) accidents, labour disputes, or the materialization of similar risks; (vi) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; (vii) the failure of GoviEx to obtain any necessary debt financing as anticipated; and (viii) generally, the Company's inability to develop and implement a successful business plan for any reason. In addition, the factors described or referred to in the section entitled "Financial Risks and Management Objectives" in the MD&A of GoviEx for the year ended December 31, 2016, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements. There can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.