TORONTO and JOHANNESBURG, Feb. 25 /CNW/ - First Uranium Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company") has been notified by the North West Provincial Government's Department of Agriculture, Conservation, Environment and Rural Development that they have issued a positive decision on the amendment application lodged by MWS last year pertaining to the Environmental Authorization ("EA") for a future Tailings Storage Facility ("TSF") for its Mine Waste Solutions tailings reclamation project ("MWS") near the town of Stilfontein, North West Province, South Africa. The application was lodged by MWS on 2 October 2009 to clarify any possible discrepancies which may have arisen regarding the project and property descriptions in the environmental authorization. The amended environmental authorization now correctly describes the project location, including the site of the TSF south-east of the town of Stilfontein, and allows MWS to immediately start preparing for construction of the TSF once financing is in place.
"Now that we have the environmental authorization re-instated we can concentrate on the process of securing the necessary financing for the construction of this tailings storage facility at MWS and our plans for ramping up our production at both operations," said Gordon Miller, President and CEO of First Uranium. "In the spirit of building a good relationship with the community in which we operate, we will continue engaging with the authorities and Interested and Affected Parties in the area regarding the MWS operation."
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 including, without limitation, statements regarding production and development plans and future plans and objectives of First Uranium are forward-looking statements (or forward-looking information) that involve various risks and uncertainties. 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.
Important factors could cause actual results to differ materially from First Uranium's expectations. Such factors include, among others: the availability, timing and amount of financing on acceptable terms; the timing and amount of estimated future production and the costs thereof; the failure of plant, equipment or processes to operate as anticipated; accidents; labour disputes; delays in obtaining governmental approvals, as well as those factors discussed under "Risk Factors" in First Uranium's Annual Information Form dated June 29, 2009 as filed with securities regulatory authorities in Canada. Although First Uranium 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.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming a significant 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 Mine Waste Solutions tailings recovery facility, both operations situated in South Africa.
SOURCE First Uranium Corporation
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