FALL OF GROUND AT EZULWINI GOLD MINE

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Nov 16, 2010, 09:52 ET

TORONTO and JOHANNESBURG, Nov. 16 /PRNewswire/ - It is with deep regret that First Uranium Corporation (First Uranium) announces that a fall of ground accident at its Ezulwini Mine near Westonaria on the West Rand has claimed the life of a mine employee and injured three others.

The incident occurred during the morning of Tuesday, 16 November 2010, on the mine's 48 level on the Middle Elsburg Reef horizon.

Representatives of organised labour and the Department of Mineral Resources (DMR) have joined management on site to investigate the cause of the accident.

The DMR has issued a section 54 on underground workplaces pending the outcome of the investigation and management's proposed actions to prevent such incidents from reoccurring.

Deon van der Mescht, president and chief executive of First Uranium said: "Safety is one of our key values and this accident comes as a huge blow to all of us. We are working to establish the cause of the accident and on ensuring that the injured received the necessary care and attention. We extend heartfelt condolences to the family, friends and colleagues of the deceased."

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 tailings recovery facility, both located 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 including, without limitation, statements regarding the timing and amount of estimated future production, processing and development plans and future plans and objectives of First Uranium are forward-looking statements (or forward-looking information) that involve various estimates, assumptions, risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent Annual Information Form 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

SOURCE First Uranium Corporation