FIRST URANIUM CORPORATION PROVIDES UPDATES ON OPERATIONS AND CAPITAL PROGRAM AT MINE WASTE SOLUTIONS

TORONTO AND JOHANNESBURG, Feb. 3 /CNW/ - First Uranium Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company") announced today that it has made available on its website at www.firsturanium.com presentations regarding operational updates on the operations at the Ezulwini Mine and the Mine Waste Solutions ("MWS") tailings recovery project as well as an overview of the Phase 2 Capital Expansion Program at MWS. The presentations entitled "First Uranium Investor Presentation - 03 February 2011" and "An update on the Phase Two Capital Expansion Program at MWS" may be accessed by selecting the Investor Centre page on the First Uranium website and clicking on Presentations.

About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming a low-cost producer of uranium and gold through the expansion of the underground development to feed the new uranium and gold plants at the Ezulwini Mine and through the expansion of the plant capacity of the MWS tailings recovery facility, both operations situated in South Africa. First Uranium also plans to grow production by pursuing value-enhancing acquisition and joint venture opportunities in South Africa and elsewhere.

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 Company's plans involve various estimates and assumptions and its business and operations are subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company'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 www.sedar.com. 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.

SOURCE First Uranium Corporation

For further information:

Julian Gwillim, julian@aprio.co.za
Gail Strauss, gailstrauss@mweb.co.za

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First Uranium Corporation

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