Uranium One Provides Update on Betpak Dala and Kyzylkum Joint Ventures

 Uranium One Provides Update on Betpak Dala and Kyzylkum Joint Ventures  TORONTO, June 5, 2014 /CNW/ - Uranium One Inc. ("Uranium One" or the  "Company") announced  today that the Astana City Court has dismissed the  appeal of the Company's Betpak Dala and Kyzylkum joint ventures against the  March 26, 2014 Kazakh court order invalidating the Akdala, South Inkai and  Kharasan subsoil use contracts.  Uranium One also announced that its parent company, Rosatom, and Kazatomprom,  the Company's Kazakh joint venture partner, have signed an agreement providing  for the issuance of new subsoil use rights on the same terms for the Akdala,  South Inkai and Kharasan uranium fields by October 28, 2014.  Concurrently with the signing of this agreement, Betpak Dala and Kyzylkum  entered into a number of other agreements which provide for the continuation  of normal business operations and which are designed to ensure that the  economic return to the joint ventures from existing operations will not be  affected in the period prior to the issuance of the new subsoil use rights.   Uranium One and Kazatomprom also signed a definitive uranium offtake agreement  ensuring the continuity of deliveries to Uranium One and its customers during  this period.  The agreement relating to the issuance of new subsoil use rights was signed by  Sergiy Kirienko, Chief Executive Officer of Rosatom, and Vladimir Shkolnik,  Chairman of Kazatomprom's Management Board, and was among the documents  formally signed in the presence of the Presidents of the Russian Federation  and the Republic of Kazakhstan at a high level Russia/Kazakhstan summit  meeting held in Astana, Kazakhstan on May 29, 2014.  A memorandum of understanding for cooperation in the construction of  Kazakhstan's first nuclear power plant was also signed during the summit,  together with a comprehensive program relating to further cooperation between  the two countries in the peaceful uses of nuclear energy as well as a joint  statement on closer cooperation in alternative energy and rare earth metals  production.  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 further possible appeals  of the court order, the probability of a successful appeal of that order (if  any), 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, obtaining of necessary governmental and corporate approvals,  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, 2013, 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, or as to whether all required regulatory, corporate  and other approvals will be obtained or as to the ultimate outcome of the  current legal  proceedings.  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), 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  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/June2014/05/c1445.html  CO: Uranium One Inc. ST: Ontario NI: MNG ORDER VNT  
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