| Tue 12 Jan 2010, 8:40 | | FUM - First Uranium Chairman CEO And Executive VP Resign From Simmer & Jack |
|
FUM
FIU
FUM - First Uranium Chairman, CEO And Executive VP Resign From Simmer & Jack
Mines, Limited To Focus Solely On First Uranium
First Uranium Corporation
(Continued under the laws of British Columbia, Canada)
(Registration number C0777384)
(South African registration number 2007/009016/10)
Share code: FUM & ISIN: CA33744R1029
First Uranium Corporation
NEWS RELEASE - January 11, 2010
FIRST URANIUM CHAIRMAN, CEO AND EXECUTIVE VP RESIGN FROM
SIMMER & JACK MINES, LIMITED TO FOCUS SOLELY ON FIRST URANIUM
Toronto and Johannesburg - First Uranium Corporation (TSX:FIU, JSE:FUM)
(ISIN:CA33744R1029) ("First Uranium" or "the Company") announced that effective
Friday, January 8, 2010, the Company`s non-executive chairman Nigel Brunette,
chief executive officer Gordon Miller and executive vice president John Berry
resigned from their respective board and officer positions at Simmer & Jack
Mines, Limited ("Simmer and Jack") and will now focus exclusively on the
business and affairs of First Uranium.
"While the dual roles proved effective during First Uranium`s spin-off from then
parent company, Simmer & Jack, and initial asset development, the time has now
come to formally separate the two companies." commented Nigel Brunette, Chairman
of First Uranium.
Gordon Miller, President and CEO of First Uranium commented, "We have almost
completed what we set out to do at the Ezulwini Mine and Mine Waste Solutions.
We are continuing with the completion of our capital projects at Mine Waste
Solutions, but at a pace that recognizes our capital resources, including income
from operations. We will complete the transition from development to
production status when the availability of capital permits."
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on
current expectations. All other statements other than statements of historical
fact included in this release including, without limitation, statements
regarding production and development plans and future plans and objectives of
First Uranium are forward-looking statements (or forward-looking information)
that involve various risks and uncertainties. These forward-looking statements
are made as of the date hereof and there can be no assurance that such
statements will prove to be accurate, such statements are subject to significant
risks and uncertainties, and actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements that are included
herein, except in accordance with applicable securities laws.
Important factors could cause actual results to differ materially from First
Uranium`s expectations. Such factors include, among others: the availability of
capital; the timing and amount of estimated future production and the costs
thereof; the failure of plant, equipment or processes to operate as anticipated;
accidents; labour disputes; delays in obtaining governmental approvals, as well
as those factors discussed under "Risk Factors" in First Uranium`s Annual
Information Form dated June 29, 2009 as filed with securities regulatory
authorities in Canada. Although First Uranium has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming
a significant low-cost producer of uranium and gold through the expansion of the
underground development to feed the new uranium and gold plants at the Ezulwini
Mine and through the expansion of the plant capacity of the Mine Waste Solutions
tailings recovery facility, both operations situated in South Africa.
For further information, please contact:
Bob Tait, Vice President, Investor Relations at bob@firsturanium.ca
+1 416 342-5639 (office) or +1 416 558-3858 (mobile)
1240-155 University Avenue, Toronto, ON M5H 3B7
12 January 2010
Sponsor: Investec Bank Limited
Date: 12/01/2010 08:40:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
