Algold concludes acquisition of First Uranium

MONTREAL AND TORONTO, Dec. 19, 2013 /CNW/ - Algold Resources Ltd. ("Algold") (TSXV:ALG) and First Uranium Corporation ("FIU")(NEX: FIU.H) (JSE: FUU) are pleased to announce that Algold completed the previously announced plan of arrangement (the "Arrangement") between FIU and Algold and effective today, Algold has acquired all of the issued and outstanding units ("FIU Units") of FIU.

FIU shareholders will receive 0.0729849 of an Algold share for each FIU Unit held.  In addition, for every full Algold share issued to an FIU shareholder, such holder will receive ½ of one Algold common share purchase warrant (the "Algold Warrants").  Each full Algold Warrant entitles the holder thereof to purchase one Algold share at a price of $0.20 per Algold share at any time for a period of eighteen months following the issuance of the Algold Warrants.

For more information on the Arrangement, please refer to the joint press release of Algold and FIU issued on October 29, 2013.

ABOUT ALGOLD

Algold Resources Ltd. is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.

SOURCE First Uranium Corporation

For further information:


Please contact:

FIRST URANIUM COPRORATION

Mary Batoff 
Director 
(416) 306-3072

ALGOLD RESOURCES LTD.

Francois Auclair
President and CEO
(514) 889 5089