Events, Financial Statements and Exhibits for URANIUM 308 CORP

August 27, 2008,  URANIUM 308 CORP(URCO)

ITEM 8.01. OTHER EVENTS It has recently been discovered by Mongolia Energy Limited (“MEL”), a wholly-owned subsidiary of Uranium 308 Corp. (the “Company”), that Lin Dong Hong, now a former director of the Company, fraudulently transferred a 20.53% ownership of Tooroibandi Limited (“Tooroibandi”), which is a wholly-owned subsidiary of MEL, to Xinjiang Ridong Mining Investment Co. Ltd., a Chinese company that is owned by Lin Dong Hong, under Mongolia’s Foreign Investment and Foreign Trade Authority Resolution A-2783. Therefore, MEL has terminated the employment of Lin Dong Hong as the Executive Director of Tooroibandi and authorized Mongolian attorney D. Enkhtur of the law firm of Lehman, Lee & Xu to turn over evidence of Lin Dong Hong’s fraud to the Ulaanbaatar Prosecutor’s Office.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS Exhibits

Exhibit No. Description Exhibit 99.1 August 7, 2008 letter to State Registration Office of Mongolia August 7, 2008 letter to Foreign Exhibit 99.2 Investment and Foreign Trade Authority of Mongolia Claim filed with the Capital City Administrative Court, dated August 7, 2008, by Mongolia Exhibit 99.3 Energy Limited against the Foreign Trade Authority of Mongolia and the State Registration Office of Mongolia.

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