First Uranium announces Dismissal of Appeal Lodged by the Federation for a Sustainable Environment Against Mine Waste Solutions' Water Use Licence

TORONTO AND JOHANNESBURG, Jan. 4, 2012 /CNW/ - First Uranium Corporation (Toronto: FIU) (JSE: FUM) (ISIN: CA33744R1029) ("First Uranium" or the "Company") announced that it has received official notification that the South African Water Tribunal has dismissed the appeal lodged by the Federation for a Sustainable Environment ("FSE") against Mine Waste Solutions' Water Use Licence. The ruling vindicates the Company's decision to continue operating the Mine Waste Solutions project in accordance with the terms and conditions of its valid water use licence since the purported appeal was lodged in March 2011.  The Water Tribunal found that it had no jurisdiction to hear the case and consequently the FSE had no legal standing to bring the appeal.  As a result the Water Tribunal has closed its file on the matter.

About First Uranium Corporation

First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming a low-cost producer of gold and uranium through the expansion of the underground development to feed the new gold and uranium plants at the Ezulwini Mine and the ramp-up of production at the Mine Waste Solutions (MWS) tailings recovery facility following the completion of a significant gold capital expansion program in May 2011. Both operations are located in South Africa.

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, including the future plans and objectives of First Uranium, are forward-looking statements (or forward-looking information) that involve risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. Readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

www.firsturanium.com

SOURCE First Uranium Corporation

For further information:

Adam Gunn - adam.gunn@firsturanium.com

Deon van der Mescht - deon.vdmescht@firsturanium.com

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