| Wed 15 Oct 2008, 15:01 | | UUU - Uranium One Inc - News Release |
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UUU
UUU
UUU - Uranium One Inc - News Release
Uranium One Inc (Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
Uranium One Inc.
900 - 1285 West Pender Street
Vancouver, British Columbia V6E 4B1
Trading Symbols: UUU - Toronto Stock Exchange, JSE Limited (Johannesburg Stock
Exchange)
NEWS RELEASE
October 15, 2008
Uranium One Establishes Australian Joint Ventures with Mitsui
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One Inc.
today announced that it has reached agreement with Mitsui & Co., Ltd. of Japan
to create joint ventures in relation to the Australian assets of Uranium One.
Under the agreement, Mitsui will acquire a 49% interest in the Honeymoon project
and the company`s Australian exploration portfolio. This includes the Goulds
Dam and Billeroo projects, as well as other prospective tenements on the Stuart
Shelf and the Eyre Peninsula.
The total minimum cash commitment from Mitsui will be approximately A$104
million for its share of Uranium One Australia`s business. The majority of
these funds will be used to advance the development of the Honeymoon project
through to commercial production.
Uranium One announced in May that it was evaluating corporate development
opportunities for the project and its portfolio of advanced and early stage
Australian exploration projects. The transaction remains subject to certain
regulatory approvals, including Australian Government regulatory approvals,
which are expected by the end of the year.
For further information, please contact:
Jean Nortier
Chief Executive Officer
Tel: + 1 604 601 5642
Chris Sattler
Senior Vice President, Corporate Development and Investor Relations
Tel: + 1 416 350 3657
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. For further
information about Uranium One, please visit uranium1.com.
Date: 15/10/2008 15:01:02 Produced by the JSE SENS Department.
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