January 2015 Part of the Global Energy Solution

Disclaimers & Cautionary Statements

This presentation is confidential and proprietary to GoviEx Uranium Inc., and may not be reproduced, disseminated or referred to, in whole or in part without the prior consent of the company. The company assumes no responsibility for verification of the information in these materials, and no representation or warranty is made as to the accuracy or completeness of such information. The company assumes no obligation to correct or update these materials. These materials do not contain all information that may be required to evaluate, and do not constitute a recommendation with respect to, any transaction or matter. Any recipient of these materials should conduct its own independent analysis of the matters referred to herein.

This presentation includes certain “forward-looking statements”. All statements other than statements of historical facts, are forward looking statements that involve various risks and uncertainties. Statements relating to “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the resources described can be profitably produced in the future. There can be no assurances that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company can not guarantee future results, levels of activity, performance, or achievements. The company does not assume the obligation to update any forward-looking statement.

Information contained in this presentation regarding Areva and its mines and mineral projects in Niger has been derived from publicly available information. The company does not assume any responsibility or liability for the accuracy of any such information.

Disclosure of a scientific or technical nature in this presentation relating to the companies mineral properties was prepared by, or under the supervision of, Dr. Rob Bowell of SRK Consulting UK, a “qualified person” as defined in NI 43-101. Historical data disclosed herein has not been verified by Dr. Bowell

Complete disclosure with respect to (a) the key assumptions, parameters, and methods used to estimate the mineral resources and mineral reserves described herein and (b) known risks that could materially affect the potential development of those mineral resources or mineral reserves is set forth in the Company’s technical report with respect to the Madaouela Project available at www.sedar.com.

Air Pollution is the World’s Single Biggest Environmental Health Risk – WHO

March 2014. The UN’s World Health Organization released new estimates of air pollution’s toll on humanity, declaring risks to be far greater than previously thought.

• Air pollution accounts for one of every eight deaths around the world. It claimed 7 million lives in 2012 – almost half caused by outdoor sources of pollution.

• “This finding more than doubles previous estimates and confirms that air pollution is now the world’s largest single environmental health risk.”

• “Few risks have a greater impact on global health today than air pollution; the evidence signals the need for concerted action to clean up the air we all breathe.”

— Dr. Maria Neira, WHO Director

54% of World’s Population Now Live in Cities

Sources: United Nations & Statista, July 2014

Ensuring sustainable cities and equitable sharing of benefits makes supply of enabling commodities a global priority % of population living in urban areas

Urbanization: Cheap, Clean and Reliable Energy Generation is Key to Solving China’s Air Pollution

PROFOUND IMPLICATIONS FOR NUCLEAR ENERGY GROWTH, URANIUM PRODUCERS

FROM 2004 - 2010 APPROXIMATELY 80% OF CHINA’S TOTAL ELECTRICAL

GENERATING CAPACITY WAS PRODUCED WITH COAL

Getty Images

IN 2012, MAINLAND CHINA HAD A TOTAL URBAN POPULATION OF 712 MILLION OR 52.6% OF THE TOTAL POPULATION, RISING FROM 26% IN 1990

LONG TERM, CHINA FACES INCREASING URBANIZATION; ACCORDING TO PREDICTIONS, NEARLY 70% OF THE POPULATION WILL LIVE IN URBAN AREAS BY 2035

Sources: Chinadaily.com.cn; United Nations; International Energy Agency

The China Story Equals Uranium Demand

In 2012, China had 15 nuclear power units with a total electric capacity

of 11 gigawatts, accounting for just 1.9% of the total electricity output. In 2013, this rose to 2% with 17 reactors, and 28 under construction.

By comparison, the USA is currently 20% and France 74%.

China has the world’s most ambitious nuclear program with plans to provide 6% or 58 GW

of capacity by 2020, and a further increase to 16% or 200 GW by 2030. By 2030, China is expected to consume nearly half of global uranium production. With limited domestic reserves, and majority high-cost, it makes sense China looks to purchase

as much low-cost production it can over the next few years.

Sources: UXC Consulting & World Nuclear News

Uranium Demand

• Uranium demand driven by nuclear build • China forecast to grow from 13 reactors in 2010 to 132 reactors in 2030 • Japan restarts slow to begin, but still targeting approx. 10% of long-term power mix • Indian and African reactor builds forecast to exceed reductions in Western Europe

No. reactors

Sources: UxC Consulting, OECD

Uranium Supply Mlb U3O8

Cash / Incentive Cost US$/lb U3O8

• Declining production partly offset by new projects

• Post-2020 supply deficit • Continued price weakness

increases risk of further closures

• Decline in quality of Reasonably Assured Resources since 2011

• US$18/lb resources equate to only 6 years global production

• Majority production currently not profitable at current spot price

• Increase in incentive price for new production with majority >US$79/lb

Tonnes U 000s

Source: UxC Consulting, OECD

The Republic of Niger – Uranium Country • World’s 4th largest uranium-producing nation (World Nuclear Association Report, 2012)

• 50 years of uninterrupted uranium exports on highway that crosses GoviEx tenements

• 2011 Presidential Election lauded by independent observers and the EU

• President Issoufou has a mining background and elected on platform of job creation

Cominak Mill & Somair Mine near Arlit, adjacent to GoviEx’s Madaouela Project

• Mining accounts for 50-70% of export revenues, national priority for job creation

• Ranked 70 out of 96 in Fraser Institute Global Mining Survey 2012/2013 above China, Russia, Mongolia, Mali and DRC

• Well-established infrastructure

• Mining Code encourages foreign direct investment

Partners for the Future • 2007 – GoviEx commenced operations focused on building a local team

• 2008 – Signed Strategic Partnership with Cameco Corporation

• 2009 – Expanded exploration program at Madaouela

• 2010 – Completed NI 43-101 preliminary economic assessment (PEA)

• 2011 – Surpassed 400,000 metres of drilling and updated resource estimate

• 2012 – Signed Strategic Financing and off-take agreement with Toshiba

• 2013 – Completed NI 43-101 integrated development plan (IDP)

• 2014 – Canadian Securities Exchange IPO and Toshiba A Bond Redemption

GoviEx Licences in Niger’s Mining Heart

Madaouela Historical Drilling Licence Metres*

Mad 1 & Agal 525,000

Mad 2 10,900

Mad 3 16,700

Mad 4 & Era 25,300

Anou Melle 3,300

Total 581,200

*End 2013

• Resource extension drilling

targets still open on Mad 1 • Agal targets for resource

development and extension

• Considerable “blue sky” remains

GT = Thickness (m) x U grade (kg/t)

• Renewed Madaouela 1, 2, 3, 4 and Anou Melle permits in November 2012; extended for a further 36 months • Applied for Agal and Era licences in November 2012; awaiting approval

Madaouela Exploration Upside Potential

Main Targets: 1. Anou Melle 2. Brownfileds 3. Madaouela

Fault 4. Redox Extn.

1

2

4 3

Summary of the classified mineral resources in accordance with CIM guidelines for Madaouela Project using cut-off: 0.4 kg/t eU (1kg/t = 0.1%)

*On November 22, 2012, GoviEx submitted to the Niger authorities a license application covering certain portions of the original Madaouela I and IV licences surface areas that were excluded from the renewed licences granted on November 2, 2012. GoviEx has been advised that the two applications for the excluded areas of Madaouela I and IV will be approved, but is awaited at the time of writing its applications, and hence has not adjusted its resources to account for any potential changes. However, it should be noted that resources associated with MSEE, and La Banane would be materially affected, and to a limited extent Miriam’s resources would be affected should GoviEx not be successful in its application. The Company’s mineral resources as at March 13, 2013 are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards - For Mineral Resources and Mineral Reserves" in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects" (the Instrument). Mineral reserve and mineral resource estimates reflect the Company's reasonable expectation that all necessary permits and approvals will be obtained and maintained. Mineral resources that are not mineral reserves do not have to demonstrate economic viability. Mineral resources are subject to infill drilling, permitting, mine planning, mining dilution and recovery losses, among other things, to be converted into mineral reserves. Due to the uncertainty associated with inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to indicated or measured mineral resources, including as a result of continued exploration. The Mineral Resource Statement was prepared by and under the direction of Daniel Guibal, MSc FAusIMM, (CP) of SRK Ltd, who is a Qualified Person as defined by the CIM Code.

Madaouela Classified Mineral Resources

Integrated Development Plan

TAILINGS STORAGE FACILITY

M&M PORTAL LOCATION

PROCESSING PLANT

HIGH VOLUME & MINE LINK ROAD CONVEYOR

EXPLOSIVES MAGAZINE

MSNE-MARYVONNE INFRASTRUCTURE AREA

MSNE-MARYVONNE PORTAL LOCATION

WELLFIELD LOCATION

MARIANNE-MARILYN UNDERGROUND MINE

M&M INFRASTRUCTURE AREA

SITE ACCESS ROAD FROM N25 MSNE-MARYVONNE MINE

HIGH VOLUME & MINE LINK ROAD

MIRIAM OPEN PIT

MIRIAM WASTE DUMP 3

MIRIAM WASTE DUMP 2

MIRIAM WASTE DUMP 1

MIRIAM INFRASTRUCTURE AREA

Mineral Reserves

ROM Uranium Oxide

Deposit

Cut-Off

Grade

eU (kg/t) Tonnes

(Mt)

Grade

U3O8 (kg/t)

Contained

U3O8 (t)

Miriam OP 0.41 6.4 1.07 6,800

Marianne-Marilyn U/G 0.60 11.1 1.00 11,100

MSNE-Maryvonne U/G 0.48 7.8 0.89 7,000

Probable Mineral Reserves 25.3 0.98 24,900

CIM mineral reserve statement (June 7th, 2013) for the Madaouela deposit *

* Open Pit Mineral Reserves for Miriam are reported within a designed pit shell at a cut-off grade of 0.41 kg/t eU. Cut-off grades are based on a price of USD 70 per pound of U3O8 (USD 154 /kg U3O8) and uranium recoveries of 84.4 %, without considering revenues from other metals. Note Mineral Reserves are based on both Measured and Indicated Resources. Underground Mineral Reserves for MSNE-Maryvonne are reported at a cut-off grade of 0.48 kg/t eU for MSNE-Maryvonne. Cut-off grades are based on a price of USD 70 per pound of U3O8 (USD 154 /kg U3O8) and uranium recoveries of 84.4 %, without considering revenues from other metals. Note Mineral Reserves are based on both Measured and Indicated Resources. Underground Mineral Reserves for Marianne Marilyn are reported at a cut-off grade of 0.60 kg/t eU for Marianne Marilyn, higher than the estimated cut-off grade 0.48 kg/t eU. On November 22, 2012, GoviEx submitted to the Niger authorities an application covering certain portions of the original Madaouela I and IV licences surface areas that were excluded from the renewed licences granted on November 2, 2012. GoviEx has been advised that the two applications for the excluded areas of Madaouela I and IV will be approved, but is awaited at the time of writing, and hence has not adjusted its reserves to account for any changes. However, it should be noted that to a limited extent Miriam’s resources and hence reserves would be impacted should GoviEx not be successful in its application. The Company’s mineral reserves as at June 7, 2013 are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards - For Mineral Resources and Mineral Reserves" in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects" (the Instrument). Mineral reserve and mineral resource estimates reflect the Company's reasonable expectation that all necessary permits and approvals will be obtained and maintained. The Mineral Reserve Statement was prepared by and under the direction of Rick Skelton, MSc, CEns, MIMMM MSAIMM, ARSM and Ryan Freeman MAusIMM (CP) of SRK Ltd, who are Qualified Persons as defined by the CIM Code.

• Probable mineral reserves are 54.88 Mlb U3O8 at 0.098% U3O8.

• Reported on 100% basis. • Total Uranium Recovery forecast at 83% • Accounts for dilution, mining losses and stope design losses. • Based on June 2013 IDP cash costs, still to be revised for lower Sept IDP costs.

Economics Summary Table

Parameter Units September IDP

Base Case

Sales U3O8 (Mlb) 45,59

Prices U3O8 (USD/lb) 70

Cash Operating Costs (USD/lb U3O8) 26.39

Total Operating Costs (incld Rylty) (USD/lb U3O8) 33.10

Startup Capital Expenditure (USDm) 340

Total LOM Capital Expenditure (USDm) 646

Capital Costs (USD/lb U3O8) 14.16

Total Costs (USD/lb U3O8) 40.55

NPV @ 8.00% (USDm) 251.14

IRR (%) 21.9%

Break even price (NPV=0 @ 8%) (USD/lb U3O8) 50.5

NPV IRR NPV at 10% (USD70/lb U3O8) (USDm) 185 21.9% NPV at 8% (USD70/lb U3O8) (USDm) 251 21.9% NPV at 8% (USD65/lb U3O8) (USDm) 184 18.5% NPV at 8% (USD75/lb U3O8) (USDm) 317 25.2%

NPV reported post all taxes and royalties, and for 100% of the Madaouela Project

Five-Year Plan

• Completed IDP in 2013

• IPO completed in 2014

• ESIA completion 2014/2015

• Mining Permit grant in 2015/16

• Pre-mine development in 2016/17

• Commence initial production in 2017

• Attain full production in 2018/2019

Uranium Sector Snapshot

Note: Priced as of January 13, 2015. (1) Assumes an CAD:USD and AUD:USD exchange rate of 0.85 and 0.81, respectively. (2) Resources are reported exclusive of reserves.

Uranium Industry Peer Group(1,2)

Measured Indicated Inferred Total

Company Name Share Price EV Reserves Resources Resources Resources Resources(1)

(US$) (US$M) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (Mlbs) Developers Denison Mines Corp. $1.10 $473.9 0.2 2.0 78.0 53.8 134.0 Fission Uranium Corp. $1.13 $327.8 79.6 25.9 105.5 Toro Energy Ltd. $0.09 $121.0 3.5 57.7 22.2 83.4 GoviEx $0.50 $65.4 55.8 22.9 19.5 24.1 122.3 UEX Corp. $0.28 $54.7 69.8 16.6 86.4

Berkeley Resources Ltd. $0.25 $21.9 32.0 29.6 61.6

Kivalliq Energy Corp. $0.18 $28.1 43.3 43.3 Forsys Metals Corp. $0.18 $16.1 79.0 24.0 22.0 125.0

Laramide Resources Ltd. $0.36 $28.7 43.2 19.0 62.2

Average $126.4 Median $54.7

Note: Priced as of January 13, 2015 (1) M&I is inclusive of 2P reserves. (2) GXU NAV based on the NPV8% (US$70/lb U3O8) of US$251M (March 08, 2011 Technical Report) and adjusted for working capital as of September 30, 2014 (3) Peer group NAVs are based on consensus analyst estimates. (4) Consensus pricing based on Bloomberg estimates as of October 2014.

Uranium Sector EV/Resource (M&I only) Total U3O8 Measured & Indicated Resource(1)

$35.00

$43.00

$51.50

$69.37 $70.00

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

$80.00

2014 2015 2016 2017 LT

(US$

/lb

)

Consensus Uranium Prices(4) Consensus P/NAV(2,3)

Uranium Sector Snapshot

Committed to Responsible Practices

• $1+5 million donation for local social relief

• Investments to improve educational facilities

• Focus on water delivery that serve 2,000 locals

• Partnership with Rain 4 Sahara

“We believe that the realization of a broad, common good can be assisted by enterprise that demonstrates, through its Corporate Citizenship practices, its support for human rights, social justice and sound environmental management – and is encouraged to prosper in a free market business environment.” - Statement of Values and Responsibilities

Investment Strategy in Niger

Sustainable Success Through Local Investment

• Over US$100 million invested in Niger since 2007

• 100% in-country leadership positions occupied by locals

• Peak 500 Nigeriens employed & contracted during PFS

• Substantial investment in training programs

• Top foreign direct investment (non Sovereign, ex France /

China)

GoviEx Core Team

Executive Management Board of Directors

• Govind Friedland, Exec. Chairman, GE, Colorado School of Mines

• Daniel Major, CEO, Mining Engineer, Camborne School of Mines

• Pierre Massé, CFO, Mining Engineer, McGill

• Mary Vincelli, Corporate Secretary

• Aminou Boukari, Niger Country Manager

• Jerome Randabel, Chief Geologist

• Dr. Henri Sanguinetti, 35 years experience in uranium exploration and mining, 25+ years with COGEMA and AREVA

• Dr. Rob Bowell, SRK Project Manager for Madaouela PFS

• Assane Adamou, Legini Niger, geotechnical/environmental (EIA)

• Matthew Lechtzier, Lead Director

• Govind Friedland, Exec Chairman

• Daniel Major, CEO & Exec Director

• Robert Hanson, HRCC Chair

• Rachid Benyakhlef, TC Chair

• William Assini, Audit Chair

• David Marsh, Director, TC Member

• Benoit LaSalle, Director

• SRK Consulting, Madaouela Project Consultants

• Tenova Bateman Engineering (EPCM)

• Deloitte & Touche LLP, Auditors

• BCF Business Law

External Advisors

Niger Management/Consultants

As at As at

December 31, 2013 September 30, 2014 All figures in Millions except for per share items

Common Shares Outstanding

117.08

146.2

Options & Warrants 3.81 4.6

Fully Diluted:

122.09

150.8

Cash & Cash Equivalent $3.95 $1.87

Inventory of Uranium Concentrate $3.45 $3.55

Debt $45.61 $9.34

Capital Structure

Registered Shareholders Percentage

Govind Friedland 20.99%

Toshiba Corporation 19.42%

Cameco Global Exploration Ltd. 8.55%

THL Resources Investment Limited 6.84%

Semafo Inc. 6.70%

Current Shareholding

Questions?