First Uranium announces receipt of US$5 million from Gold One Escrow.

First Uranium announces receipt of US$5 million from Gold One Escrow. 
TORONTO and JOHANNESBURG, Feb. 1, 2013 /CNW/ - First Uranium Corporation 
(NEX:FIU.H) (JSE:FUU) (ISIN:CA33744R5047) ("First Uranium" or "the 
Corporation") today announced that it received US$5 million, being the 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. 
As previously reported on January 21, 2013, the Corporation 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 with AngloGold Ashanti Limited. From 
these funds, the Corporation used CAD$4.5 million (being 3% of the principal 
amount owing as of April 30, 2012) to repay the final amount due under the 
trust indenture for the 4.25% unsecured convertible debentures (the 
"Debentures"). This final payment resulted in the Debentures being redeemed 
in full on January 28, 2013. 
The Board of the Corporation will determine, subject to the establishment of a 
reserve for any continuing and contingent obligations of the Corporation, an 
additional amount to be distributed to the holders of the Units. It is the 
Corporation's present intention, subject to the requirements of the stock 
exchanges, to effect an additional distribution to shareholders by the end of 
March 2013. 
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- Feb/01/2013 22:56 GMT
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