FIRST URANIUM CORPORATION

First Uranium Corporation has completed its previously announced bought deal offering of 15,250,000 common shares of First Uranium at a price of $7.00 per share for gross proceeds of Can$106,750,000. The company intends to use the net proceeds from the offering to accelerate the construction of the pressure leach portion of the uranium circuit at the Mine Waste Solutions tailings recovery operation (at the Ezulwini Mine in South Africa) to more quickly realize higher uranium and gold recoveries; for potential consolidation opportunities; and for general corporate purposes.