First Uranium shareholders, noteholders and debentureholders overwhelmingly approve the proposed transactions with Anglogold Ashanti and Gold One

TORONTO AND JOHANNESBURG, June 13, 2012 /CNW/ - First Uranium Corporation (TSX: FIU) (JSE: FUM) (ISIN: CA33744R1029) ("FIU" or the "Company") is pleased to announce that at a special meeting of the shareholders of FIU held earlier today, shareholders voted overwhelmingly in favour of the resolutions approving the transactions with each of AngloGold Ashanti Limited and Gold One International Limited, as well as the ancillary resolutions necessary to effect the two transactions.  Of the Company's shareholders, 57.1% were represented in person or by proxy at the Shareholders Meeting.  With respect to the AngloGold Resolution, 91.7% of the shares voted at the Shareholders Meeting were voted in favour of the special resolution approving the AngloGold Transaction.   With respect to the Gold One Resolution, 91.7% of the shares voted at the Shareholders Meeting were voted in favour of the special resolution approving the Gold One Transaction.

In addition, at the joint meeting of the holders of the senior secured convertible notes of FIU and Mine Waste Solutions (Proprietary) Limited, 84% of the noteholders were represented in person or by proxy.  The noteholders voted 93.5% in favour of the noteholder resolution, approving the terms of supplemental indentures in respect of the Canadian Notes and the Rand Notes.  Finally, at a meeting of the holders of the senior unsecured convertible debentures of FIU, 89.2% of the debentureholders were represented in person or by proxy.  The debentureholders voted 100% in favour of the debentureholder resolution, approving the terms of a supplemental indenture in respect of the debentures.

Mr. John Hick, lead independent director of FIU, stated, "The Company is extremely gratified by the support shown by its stakeholders during these very difficult times.  We can now proceed to finalize all of the steps necessary to complete the transactions."

The Company anticipates that the transactions will be completed by the end of this month.

About First Uranium Corporation

First Uranium Corporation operates the Ezulwini Mine, an underground mining operation, and Mine Waste Solutions, a tailings recovery facility. Both operations are situated 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 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, including without limitation, the statements regarding the proposed transactions with Gold One International Limited and AngloGold Ashanti Limited. Accordingly, 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:

John Hick or Mary Batoff
(416) 306‐3072
mary@firsturanium.ca

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First Uranium Corporation

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