| Fri 29 Jun 2012, 7:55 | | MWNT - Mine Waste Solutions (Proprietary) Limited - First Uranium and Gold One |
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JSE FUM MWNT
MWNT
MWNT - Mine Waste Solutions (Proprietary) Limited - First Uranium and Gold One
extend date for fulfillment of conditions precedent
Mine Waste Solutions (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number2000/1443/07)
(a wholly owned subsidiary of First Uranium Corporation)
JSE code MWNT, ISIN: ZAE000156261
("Mine Waste Solutions", "MWS" or "the Company")
FIRST URANIUM AND GOLD ONE EXTEND DATE FOR FULFILLMENT OF CONDITIONS PRECEDENT
TORONTO AND JOHANNESBURG - June 29, 2012 - Noteholders of Mine Waste Solutions
(Proprietary) Limited (JSE:MWNT) (ISIN: ZAE ZAE000156261)("the Company or MWS")
are referred to the announcement earlier today of First Uranium Corporation
(TSX: FIU) (JSE: FUM) (ISIN: CA33744R1029) ("FIU"). FIU previously announced on
April 2, 2012 that it had signed a binding Sale of Shares and Claims Agreement
(the "Gold One Acquisition Agreement") for the sale of 100% of the issued shares
of, and all shareholders` claims against, First Uranium Limited (Cyprus), which
holds 100% of the issued shares of, and all shareholders` claims against,
Ezulwini Mining Company (Pty) Limited, to Gold One International Limited ("Gold
One") for total consideration of US$ 70 million (the "Gold One Transaction").
The Gold One Acquisition Agreement is subject to a number of conditions
precedent, which, include that the acquisition of all the shares of Mine Waste
Solutions (Pty) Limited by AngloGold Ashanti Limited from First Uranium (the
"AGA Transaction") be implemented in accordance with its respective terms, and
are required to be fulfilled or waived on or before June 29, 2012.
In order to provide sufficient time for the AGA Transaction to be implemented,
which is expected to occur on or before July 24, 2012, Gold One and First
Uranium have agreed to extend the date to satisfy the conditions precedent to
the Gold One Transaction to July 31, 2012. Other than the conditions precedent
associated with the implementation of the AGA Transaction, the material
conditions precedent to the Gold One Transaction have been satisfied or waived,
including all of the regulatory approvals to the extent required.
About First Uranium Corporation
First Uranium Corporation operates the Ezulwini Mine, an underground mining
operation, and Mine Waste Solutions, a tailings recovery facility. Both
operations are 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). The Company`s and FIU`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 FIU`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, including without
limitation, the statements regarding the proposed transactions with Gold One
International Limited and AngloGold Ashanti Limited. 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
For further information:
John Hick or Mary Batoff
(416) 306_]3072
mary@firsturanium.ca
June 29, 2012
Date: 29/06/2012 07:55:01 Produced by the JSE SENS Department.
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