Uranium One Announces Kazakh Litigation Proceedings

TORONTO, March 27, 2014 /CNW/ - Uranium One Inc. ("Uranium One" or the 
"Company") announced that the Special Inter-District Economic Court for the 
City of Astana (Republic of Kazakhstan) on March 26, 2014 issued an order 
having the effect of invalidating the original transfers in 2004 and 2005 from 
Kazatomprom to the Company's Betpak Dala and Kyzylkum joint ventures of the 
subsoil use contracts for the Akdala, South Inkai and Kharasan fields. 
While the proceedings before the Court were held behind closed doors and only 
limited information has been made available, Uranium One understands that the 
ruling was made orally in proceedings brought by the State Prosecutor of the 
Saryark District of the City of Astana against Betpak Dala, Kyzylkum and 
Kazatomprom, among other parties, and relates to events which occurred two to 
three years before Uranium One acquired its interest in the two joint ventures. 
Under Kazakh law, the order is automatically stayed and may not be enforced 
for a period of 15 days and such additional time as it may take to hear an 
appeal therefrom, and is also subject to further appeals.  Both joint ventures 
intend to vigorously defend themselves in the Kazakhstan courts and plan to 
file notices appealing the order. The Company considers the lawsuit to be 
without merit. 
Neither Uranium One nor its shareholders are parties to the proceedings. 
Kazatomprom, the Company's Kazakh state-owned joint venture partner in 
Kazakhstan, has, however, assured the Company and its shareholders that their 
legal rights and economic interests will be fully preserved.  The Company and 
its shareholders are now in discussions with Kazatomprom with a view to 
obtaining new subsoil use rights to the Akdala, South Inkai and Kharasan 
fields in the event that the order becomes effective. While those discussions 
are underway, and in order to mitigate the impact on the Company's interests, 
Kazatomprom, Betpak Dala and Kyzylkum are putting in place temporary 
arrangements designed to ensure that, notwithstanding the court order, Betpak 
Dala and Kyzylkum carry on normal business operations and the rate of return 
to the Company from existing operations is unaffected during this period.  The 
Company's shareholder, Uranium One Holding N.V., and Kazatomprom have signed 
protocols to this effect and are taking the steps necessary to ensure that 
scheduled production and deliveries to customers are not affected. 
The Company and its shareholders have reserved their rights to take all such 
steps, and exercise all such remedies available to them, including proceedings 
under international investment treaties, as they may consider necessary or 
advisable to protect their legal rights and economic interests in this matter. 
About Uranium One 
Uranium One is one of the world's largest uranium producers with a globally 
diversified portfolio of assets located in Kazakhstan, the United States, 
Australia and Tanzania. ROSATOM State Atomic Energy Corporation, through its 
affiliates, owns 100% of the outstanding common shares of Uranium One. 
Cautionary Statements 
No stock exchange, securities commission or other regulatory authority has 
approved or disapproved the information contained herein. 
Forward-looking statements and risk factors: This news release contains 
certain forward-looking statements. Forward-looking statements include but are 
not limited to those with respect to the outcome of the appeals of the court 
order, the probability of a successful appeal of that order, the possibility 
of concluding and the terms of any new subsoil use contracts which may be 
entered into with Kazatomprom if the order is not reversed, the price of 
uranium, the estimation of mineral resources and mineral reserves, the 
realization of mineral reserve estimates, the timing and amount of estimated 
future production, costs of production, capital expenditures, costs and timing 
of the development of new deposits, success of exploration activities, 
permitting time lines, currency fluctuations, requirements for additional 
capital, government regulation of mining operations, environmental risks, 
unanticipated reclamation expenses, the timing and potential effects of 
proposed transactions, title disputes or claims, limitations on insurance 
coverage, and the timing and possible outcome of pending litigation. In 
certain cases, forward-looking statements can be identified by the use of 
words such as "plans", "expects" or "does not expect", "is expected", 
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or 
"does not anticipate", or "believes" or variations of such words and phrases, 
or state that certain actions, events or results "may", "could", "would", 
"might" or "will" be taken, occur or be achieved. Forward-looking statements 
involve known and unknown risks, uncertainties and other factors, which may 
cause the actual results, performance or achievements of Uranium One to be 
materially different from any future results, performance or achievements 
expressed or implied by the forward-looking statements. Such risks and 
uncertainties include, among others, the reversal of the court order on 
appeal, the obtaining of new subsoil use rights if the order is not reversed, 
as well as those factors referred to in the section entitled "Risk Factors" in 
Uranium One's Annual Information Form for the year ended December 31, 2012, 
which is available under Uranium One's profile on SEDAR at www.sedar.com, and 
which should be reviewed in conjunction with this document. There can be no 
assurance as to whether or on what terms new subsoil use rights might be 
obtained, and, given the nature of the proceedings, Uranium One cannot assess 
the probability of a reversal of the order on appeal.  If the order is not 
reversed in full or new subsoil use rights are not granted or alternative 
arrangements implemented (or are granted or implemented on less favourable 
terms), or binding agreements with Kazatomprom are not concluded, the effect 
on Uranium One may be material.  Although Uranium One has attempted to 
identify important factors that could cause actual actions, events or results 
to differ materially from those described in forward-looking statements, there 
may be other factors that cause actions, events or results not to be as 
anticipated, estimated or intended. There can be no assurance that 
forward-looking statements will prove to be accurate, as 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. Uranium One expressly disclaims any intention or obligation to 
update or revise any forward-looking statements, whether as a result of new 
information, future events or otherwise, except in accordance with applicable 
securities laws. 
For further information about Uranium One, please visit www.uranium1.com.
 

SOURCE  Uranium One Inc. 
Chris Sattler Chief Executive Officer Tel: +1 647 788 8500 
Anton Jivov Vice President, Corporate Affairs Tel: +1 647 788 8461 
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CO: Uranium One Inc.
ST: Ontario
NI: MNG LAW VERDICTS LAWVIEWS  
-0- Mar/27/2014 13:15 GMT
 
 
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