FIRST URANIUM ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS

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Jun 08, 2011, 05:53 ET

TORONTO and JOHANNESBURG, June 8, 2011 /PRNewswire/ - First Uranium Corporation (TSX: FIU) (JSE: FUM) ("First Uranium" or the "Company") (ISIN:CA33744R1029) announced today that Messrs. Hugh Cameron, Normand Champigny and Thabo Mosololi have been appointed to the Board of Directors of First Uranium and that Mr. David Cohen has resigned.

Mr. Cameron was a Partner at PricewaterhouseCoopers and during his 40 year career with that firm and its predecessors, he specialized in mining and headed up their global mining practice from 2002 to 2007 and served as the firm's mining leader for Southern Africa from 2007 until his retirement in 2010. He also gained additional international experience working in PwC's London and Chicago offices. Mr. Cameron attended the University of the Witswatersrand and holds a Bachelor of Commerce and a Bachelor of Accountancy. He qualified as a Chartered Accountant (SA) in 1974. Mr. Cameron has been an Independent Non-Executive Director of Impala Platinum Holdings Ltd since November 1, 2010.

Mr. Champigny is President and Chief Operating Officer and a director of Golden Alliance Resources Corp. and Blue Sky Uranium Corp., both TSX listed companies, focused on gold, copper and silver exploration in Peru, and uranium in Argentina, respectively. He is a senior mining professional with 30 years of international practice mostly with world-leading consultancy organizations. Previous experience includes: involvement with PricewaterhouseCoopers' Americas' Mining Centre of Excellence; Executive Vice President, Azimut Exploration Inc.; Associate Partner, IBM Business Consulting Services; and, Americas Mining Industry Leader and Principal Consultant for the Mining Industry Group with PwC Consulting. Mr. Champigny graduated as a Geological Engineer from École Polytechnique in 1979 and obtained an M.Sc.A. in Geological Engineering from the University of British Columbia (1981) and a Specialized Diploma in Geostatistics from the Paris School of Mines (1987). He is a member of the Order des Ingénieurs du Quebec, a member of the Professional Engineers of Ontario and a member of the Association of Professional Engineers and Geoscientists of British Columbia.

Mr. Thabo Mosololi has been the Financial Director of Tsogo Sun Gaming since 2002. His expertise includes management consulting, financial re-engineering and strategy development. He is Chartered Accountant (1994) and a member of the South African Institute of Chartered Accountants and the Association of Black Chartered Accountants in South Africa. In 1999, Mr. Mosololi was appointed by the South African Minister of Finance to the Financial Services Board Insider Trading Directorate and served on that board until 2003. He was a Commissioner on the Fiscal & Financial Commission from 2001 to 2003. Mr. Mosololi holds a Bachelor of Commerce from the University of the Western Cape (1991), a Diploma in Project Management from Damelin College (1997), and completed the Management Advancement Programme (1999) and Executive Development Programme (2004) at the Wits Business School. He has also served as a director and audit committee member of Telkom Ltd. (October 2004 to September 2007) and as a director and chairman of the audit committee of Matodzi Ltd. (March 2003 to January 2007).

Mr. David Cohen has resigned from the Board of Directors of the Company. Mr Cohen is the former Chairman and Chief Executive Officer of Gold Wheaton Gold Corp., which was recently acquired by Franco Nevada. The Board of Directors of First Uranium wishes to thank Mr. Cohen for his past service and contribution to the Company.

The appointment each of Messrs. Cameron, Champigny and Mosololi is subject to the acceptance of the Toronto Stock Exchange.

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.

Cautionary Language Regarding Forward-Looking Information
This document may contain or refer to forward-looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

www.firsturanium.com

SOURCE First Uranium Corporation