| Tue 26 Jul 2011, 8:04 | | FUM - First Uranium Corporation - First Uranium receives Directive to |
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FUM
FIU
FUM - First Uranium Corporation - First Uranium receives Directive to
Cease Operations at MWS
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
NEWS RELEASE - July 26, 2011
First Uranium receives Directive to Cease Operations at MWS
Toronto and Johannesburg - First Uranium Corporation (TSX:FIU),
(JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company")
announced today that the South African National Nuclear Regulator (the
"NNR") issued a directive to Mine Waste Solutions to cease deposition of
material on all of the existing tailings storage facilities, including
the new life of mine tailings storage facility, citing alleged issues
regarding pipeline maintenance and non-reporting. The directive may be
lifted by the NNR upon the Company demonstrating its compliance with the
terms of the directive. In the interim, the Company has complied with
the directive and suspended operations. Notwithstanding the above, the
Company believes that it materially complies with the requirements of
the NNR Act and as such will be seeking injunctive relief from the local
courts.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on the
development and operation of gold and uranium projects in South Africa.
The Company`s goal is to become a significant low-cost producer of gold
and uranium from its Ezulwini underground mine (the "Ezulwini Mine") and
the Mine Waste Solutions tailings recovery facility ("MWS"). To expand
it production profile, First Uranium has expanded the capacity of MWS
and it is ramping up production at the Ezulwini Mine and plans to pursue
other value-enhancing opportunities in South Africa.
For further information, please contact:
Scot Sobey
Executive Vice President
Tel: +27 11 278 7001
Johannesburg
Sponsor: Investec Bank Limited
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). The Company`s plans
involve various estimates and assumptions and its business and
operations are subject to various risks and uncertainties. For more
details on these estimates, assumptions, risks and uncertainties, see
the Company`s most recent Annual Information Form and most recent
Management Discussion and Analysis on file with the Canadian provincial
securities regulatory authorities on SEDAR at www.sedar.com. 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.
www.firsturanium.com
Date: 26/07/2011 08:04:01 Produced by the JSE SENS Department.
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