Aflease Gold Ltd. Financial Results for 2006



    Trading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg
    stock exchange)

    TORONTO, ON and JOHANNESBURG, South Africa, March 30 /CNW/ - sxr Uranium
One Inc. ("Uranium One") announced today that its majority-owned Aflease Gold
Ltd. subsidiary has released audited financial results for the twelve months
ended December 31, 2006. The results are stated in South African Rand.

    
    Highlights for the year include the following:

    -   Headline loss per share of 5.16 cents for 12 months to
        December 31, 2006, compared to a headline loss of 0.42 cents per
        share for the 12 months to December 31, 2005
    -   Completed the reverse takeover of Sub Nigel Gold Mining Company
        Limited
    -   Share exchange agreement for the acquisition, at the election of
        Aflease Gold, of between 7.5 million and 13 million shares of
        Randgold and Exploration Ltd.
    -   Completion of a feasibility study for the Modder East Gold Project
        and commencement of Project construction
    -   Increase in indicated resources and probable reserves at Modder East
           -  Probable reserves of 7.69 million tonnes grading 5.54 g/t for
              1.37 million contained ounces of gold (a 28% increase during
              the year)
           -  Indicated resources of 22.57 million tonnes grading 3.31 g/t
              for 2.4 million contained ounces of gold (a 19% increase during
              the year)
           -  Inferred resources of 13.32 million tonnes grading 2.31 g/t for
              0.99 million contained ounces of gold (a 3% decrease during the
              year)
    -   Upgrade in resources at Sub Nigel
    

    Commenting on today's announcement, Neal Froneman, Chief Executive
Officer of Aflease Gold, said: "Aflease Gold is making excellent progress at
Modder East, which remains on track for production commencing in 2009. We look
forward to the re-evaluation of the Modder East feasibility study in line with
the recent increase in the Project's mineral resources and reserves, and to
the completion of the pre-feasibility study at our Sub Nigel property. In the
meantime, the Company is well positioned and will continue to focus on
achieving a premium market rating through its focus on high margin and low
technical risk assets."

    About Uranium One

    Uranium One Inc. is a Canadian uranium and gold resource company with a
primary listing on the Toronto Stock Exchange and a secondary listing on the
JSE Limited (the Johannesburg stock exchange). The Corporation owns the
Dominion Reefs Uranium Mine in South Africa and the Honeymoon Uranium Project
in South Australia, and is actively pursuing growth opportunities in the
uranium sector in the United States and Central Asia. The Corporation holds a
majority interest in Aflease Gold Limited, which owns the Modder East Gold
Project in South Africa. Through a 50/50 joint venture with Pitchstone
Exploration Ltd., the Corporation is also engaged in uranium exploration
activities in the Athabasca Basin of Saskatchewan.

    About Aflease Gold

    Aflease Gold is a South African gold resource company listed on the JSE
Limited (the Johannesburg stock exchange). The Company owns the Modder East
Gold Project, currently under construction, as well as the Sub Nigel, New
Kleinfontein, Turnbridge and the Holfontein Gold Projects, all on the East
Rand; the Ventersburg Gold Project in the Free State gold field; and the
Etendeka Gold Project in Namibia. Aflease Gold was formed in January 2006
through the reverse takeover of Sub Nigel Gold Mining Company by New
Kleinfontein Mining Company, a wholly-owned subsidiary of sxr Uranium One Inc.
The Company has a market capitalization in excess of R1.7 billion.

    Cautionary Statement

    This News Release includes certain "forward-looking statements" and
"forward-looking information". All statements other than statements of
historical fact included in this release including, without limitation,
statements regarding future plans and objectives of Aflease Gold, are
forward-looking statements (or forward-looking information) that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors could cause actual results to differ materially from Aflease Gold's
expectations. Such factors include, among others, the actual results of
exploration activities, actual results of reclamation activities, the
estimation or realization of mineral reserves and resources, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
availability of capital required to place Aflease Gold's properties into
production, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of gold and other commodities,
possible variations in ore grade or recovery rates, failure of plant,
equipment or processes to operate as anticipated, accidents, labour disputes
and other risks of the mining industry, delays in obtaining governmental
approvals, permits or financing or in the completion of development or
construction activities, Aflease Gold's hedging practices, currency
fluctuations, title disputes or claims limitations on insurance coverage,
Although Aflease Gold has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such 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. Aflease Gold does not undertake to update any
forward-looking statements that are included herein, except in accordance with
applicable securities laws. Investors are advised to refer to competent
person's reports on Aflease Gold's material properties for detailed
information with respect to such properties, which information is subject to
the qualifications and notes set forth therein.
    In addition, this news release uses the terms "indicated resources" and
"inferred resources" as defined in accordance with the SAMREC Code (South
African Code for Reporting of Mineral Resources and Mineral Reserves prepared
by the South African Mineral Resource Committee) (SAMREC) under the auspices
of the South African Institute of Mining and Metallurgy effective March 2000
or as amended from time to time. United States investors are advised that
while these terms are recognized and required by South African regulations,
the SEC does not recognize them. Investors are cautioned not to assume that
all or any part of the mineral deposits in the measured and indicated resource
categories will ever be converted into reserves. In addition, "inferred
resources" have a great amount of uncertainty as to their existence and
economic and legal feasibility. Investors are cautioned not to assume that all
or any part of an inferred resource exists or is economically or legally
mineable. Mineral resources are not mineral reserves and do not have
demonstrated economic viability. Under South African rules, estimates of
inferred mineral resources may not form the basis of feasibility or
pre-feasibility studies or economic studies except under conditions noted in
the SAMREC Code. Scientific and technical information contained herein has
been reviewed by Warwick Bullen, M.Sc., Pr.Sci.Nat., Vice President: Geology
and Exploration, Aflease Gold, who is a qualified person for the purposes of
NI 43-101.

    No stock exchange, securities commission or other regulatory authority
    has approved or disapproved the information contained herein.

    To receive the Corporation's news releases by email, please register on
    Uranium One's website - www.uranium1.com.

    %SEDAR: 00005203E




For further information:

For further information: Jean Nortier, Chief Financial Officer, Tel: +
27 11 482 3605; Chris Sattler, Vice President, Investor Relations, Tel: (416)
671-3341

Organization Profile

Uranium One Inc.

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