UEX Corporation announced that the company plans to spend $1.5 million drilling its 100% owned West Bear Cobalt-Nickel Prospect located on the Hidden Bay project, immediately east of the West Bear Uranium Deposit ("WBU Deposit"). The drill program is anticipated to begin in mid-February and complete 3,500 m of drilling with 30 to 40 holes to define the known mineralized zones. The West Bear Co-Ni Prospect was discovered by the Company during the exploration programs that defined, evaluated and tested the area surrounding the WBU Deposit between 2002 and 2005. The West Bear Co-Ni Prospect assays compare favorably to the grades of other global and North American cobalt deposits. The highest-grade assay sample obtained during the 2002-2005 UEX drill programs was from hole WBE-019 that returned 9.94% cobalt and 2.97% nickel over a core length of 0.2 m between 33.8 m and 34.0 m. Impressive cobalt and nickel grades were also returned from historical UEX holes WBE-079 which assayed 3.95% Co and 2.36% Ni over 4.45 m from 60.65 to 65.10 m and WBE-071 that assayed 2.15% Co and 0.91% Ni over 8.4 m from 45.1 to 53.5 m.