| Thu 8 Jul 2010, 8:23 | | FUM - First Uranium Corporation - Announces TSX review extension |
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FUM
FIU
FUM - First Uranium Corporation - Announces TSX review extension
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: CA 33744R1029
NEWS RELEASE - July 07, 2010
FIRST URANIUM ANNOUNCES TSX REVIEW EXTENSION
Toronto and Johannesburg - First Uranium Corporation (TSX:FIU, JSE:FUM) ("First
Uranium" or the "Company") (ISIN:CA33744R1029) today received a 30 day extension
of their listing review.
On March the 12th 2010, First Uranium announced the terms of the now completed
recapitalization financing. The financing relied upon exemptions from the
security holder approval requirements of the Toronto Stock Exchange (the "TSX")
available in cases of financial hardship. As is the ordinary course in the
circumstances, the TSX scheduled a listing review for early July.
As reported on the 18th of June, the new management team at the Ezulwini Mine is
focused on completing a detailed "bottom-up" review of the mine plan to ensure
that the projected financial results are confirmed.
As a result, First Uranium requested and was granted a 30 day extension which
will allow sufficient time for the review of the mine plan and projected
financial results to be completed and incorporated into the submission.
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About First Uranium Corporation
First Uranium Corporation 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.
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 are forward-looking statements (or forward-looking
information). No assurance can be given that the forward-looking 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.
8 July 2010
Sponsor: Investec Bank Limited
Date: 08/07/2010 08:23:03 Produced by the JSE SENS Department.
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