GoviEx's common shares attain Depository Trust Company Eligibility

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2017) - GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or "Company") is pleased to announce that the Company's class A common shares have attained DTC eligibility.

The Depository Trust Company ("DTC") is a subsidiary of the Depository Trust & Clearing Corporation, and manages the electronic clearing and settlement of the securities of publicly traded companies in the United States.Securities that are eligible to be electronically cleared and settled through the DTC are considered to be "DTC eligible." This electronic method of clearing securities is designed to speed up the receipt of stock and cash during a securities trade, thus accelerating the settlement process for investors trading the Company's shares on the OTCQB.

The OTCQB provides efficient access to U.S. investors, helping Canadian companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation.

Through trading on OTCQB, companies can engage a far greater network of U.S. investor, data distributors, and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Canada, but through U.S. platforms and portals used to conduct research.

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 Mutanga Project in Zambia, and its other uranium properties in Africa.

Information contacts

Website: www.goviex.com
Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
+1 604-681-5529
info@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 press 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 press 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 potential for the OTCQB quotation to build shareholder value with a goal of enhancing liquidity and achieving fair valuation for the Company, 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 relating to the OTCQB quotation have been made include that GoviEx will be able to enhance its liquidity and achieve greater market awareness of GoviEx in the U.S. marketplace. In addition, the factors described or referred to in the section entitled "Financial Risks and Management Objectives" in the MD&A for the year ended December 31, 2016, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although 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, including the failure to garner the desired increased liquidity and market awareness in the U.S. marketplace, 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, and GoviEx assumes no any liability for disclosure relating to the other company herein.