| Wed 3 Aug 2011, 7:36 | | FUM - First Uranium Corporation - News Release - Operations resume at mine waste |
|
FUM
FIU
FUM - First Uranium Corporation - News Release - Operations resume at mine waste
solutions - South African National Nuclear Regulator (NNR) lifts directive
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
OPERATIONS RESUME AT MINE WASTE SOLUTIONS - SOUTH AFRICAN NATIONAL NUCLEAR
REGULATOR (NNR) LIFTS DIRECTIVE
Toronto and Johannesburg - Further to the announcement of July 25, 2011
regarding the directive issued to First Uranium Corporation`s
(TSX:FIU),(JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company")Mine
Waste Solutions tailings reprocessing operation ("MWS"), by the South African
National Nuclear Regulator (the "NNR") to cease deposition of material on all
existing tailings storage facilities, First Uranium has today received
conditional permission from the NNR to resume operations at MWS.
MWS received the directive from the NNR on July 25, 2011.
Following a site inspection on Friday 29, July 2011, the regulator agreed to
lift the suspension on condition that MWS adhered strictly to the conditions of
the nuclear authorisation-COR-30, inter alia that MWS provide the NNR with
monthly self inspection reports in accordance with the enhanced pipeline
maintenance program that the Company had developed and has implemented.
The NNR will review MWS` compliance after a period of one month to satisfy
itself that the operation is complying with the conditions imposed on the
lifting of the directive.
Deon van der Mescht, president and chief executive officer of First Uranium
said: "We are committed to continuing to be responsible corporate citizens. MWS
will continue to operate in a responsible manner and we are confident that MWS
will continue to comply with the NNR authorisation."
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming
a 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 (MWS)
tailings recovery facility, both operations situated in South Africa. First
Uranium also plans to grow production by pursuing value-enhancing acquisition
and joint venture opportunities in South Africa and elsewhere.
For further information, please contact:
Julian Gwillim, julian@aprio.co.za
Gail Strauss, gailstrauss@mweb.co.za
Sponsor :Investec Bank Limited
3 August 2011
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: 03/08/2011 07:36:23 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.
