First Uranium announces receipt of US$25 million from AngloGold Escrow.

First Uranium announces receipt of US$25 million from AngloGold Escrow. 
TORONTO AND JOHANNESBURG, Jan. 21, 2013 /CNW/ - First Uranium Corporation 
(NEX:FIU.H) (JSE:FUU) (ISIN:CA33744R5047) ("First Uranium" or "the 
Corporation") today announced that it received US$25 million, being the 
balance of the US$335 million purchase price for the shares of Mine Waste 
Solutions (Proprietary) Limited, which amount had been held in escrow pursuant 
to the sale agreement (the "AGA Agreement") dated March 2, 2012 with AngloGold 
Ashanti Limited ("AGA"). 
The US$5 million balance of the US$70 million sale proceeds from the sale of 
First Uranium Limited, which owns all of the shares of Ezulwini Mining Company 
(Proprietary) Limited, to Gold One International Limited ("Gold One") 
continues to be held in escrow pending the end of the Gold One escrow period 
on February 1, 2013, after which this amount, less any claims made and payable 
in accordance with the Gold One Agreement, if any, will be paid to First 
As previously reported, as both transactions were completed and implemented on 
or before October 5, 2012, in accordance with the trust indenture for the 
4.25% unsecured convertible debentures (the "Debentures"), the final 3% of the 
principal amount of the outstanding Debentures being CAD$4.5 million, which 
was payable only to the extent of the Corporation receiving funds from the 
escrows, to a maximum of CAD$4.5 million, is now payable to the holders of the 
Debentures. Upon receipt of the US$25 million referred to above, and in 
accordance with the trust indenture for the Debentures, on January 28, 2013, 
the Corporation will pay to the indenture trustee for the Debentures CAD$4.5 
million (being 3% of the principal amount owing as of April 30, 2012) for 
further payment to the holders of the Debentures. 
Once the amount of the escrow funds to be released in accordance with the Gold 
One Agreement is determined, and subject to the establishment of a reserve for 
any continuing and contingent obligations of the Corporation, the Board of the 
Corporation will determine an additional amount to be distributed to the 
holders of the Units from this amount and the balance of the AGA escrow amount 
less the CAD$4.5 million. 
The Corporation will also consider the most efficient and orderly way in which 
to distribute to the shareholders all remaining property of the Corporation 
(after payment of the Corporation's creditors). The Corporation may then 
proceed to be wound up and dissolved. However, the Board has not made any 
decisions with respect to the windup and dissolution at this time. 
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 Corporation's plans involve various 
estimates and assumptions and its business is subject to various risks and 
uncertainties. For more details on these estimates, assumptions, risks and 
uncertainties, see the Corporation'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 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. 
Mary Batoff, +1 416 306 3072 
SOURCE: First Uranium Corporation 
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CO: First Uranium Corporation
ST: Ontario
-0- Jan/21/2013 14:55 GMT
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