DEVEX RESOURCES LIMITED — Board/Management Information 2011

Apr 26, 2011

27 April 2011

The Company Announcement Officer Australian Securities Exchange Ltd via electronic lodgement

Appointment of Director (Non Executive)

Uranium Equities Limited (ASX:UEQ) is pleased to announce the appointment of Tom Pool as a Non-executive Director of the Company.

Tom is a mining engineer with more than 35 years experience in the resources industry, the last 25 years of which has focussed on assessment and evaluation of projects in the uranium and nuclear fuels sector. Tom is Chairman of International Nuclear Inc (iNi) based in Golden, Colorado, having previously held senior positions with Nuclear Fuels Corporation and the Concord Group of Companies.

Uranium Equities has had a long association with Tom through Urtek LLC, the company developing the PhosEnergy Process. Tom is a founding member of Urtek LLC and currently holds a 19.39% interest.

UEQ Chairman, Tony Kiernan said

“We are very pleased to welcome Tom onto the Board of Uranium Equities. Tom brings a wealth of experience in the uranium and nuclear fuel industries; both of which are fields where he is greatly respected.

We look forward to Tom’s contribution to the Board in what promises to be a very exciting year for Uranium Equities.”

As part of his remuneration package Mr Pool will be granted 500,000 3 year unlisted options in UEQ at an exercise price of 25 cents, subject to shareholder approval.

Yours faithfully,

==> picture [107 x 45] intentionally omitted <==

Tony Kiernan Chairman

w w w . u e l . c o m . a u