First Uranium begins toll treating gold ore from its Ezulwini Mine



    TORONTO and JOHANNESBURG, Nov. 5 /CNW/ - First Uranium Corporation
(TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Corporation")
announced that the Corporation commenced transporting gold ore from the
Ezulwini Mine for toll treatment at the Randfontein Estates Limited ("REL")
Doornkop gold plant at the end of October 2007.
    Based on Ezulwini Mine start-up schedules for mining uranium and gold,
the Corporation expects to ship approximately 5,000 tonnes of ore for toll
treatment in November 2007 and steadily increase the quantity to about
25,000 tonnes per month by April 2008, when the Ezulwini Mine's own gold plant
is scheduled to be commissioned. For the next six months mill feed grades are
expected to range between 6.5 grams per tonne and 8.0 grams per tonne,
although the average gold grade is initially expected to be lower since
development ore will be processed first.
    "Now that we are shipping ore from the Ezulwini Mine, both of our
projects are now in gold production and are contributing to our cash flow",
said Gordon Miller, First Uranium's President and Chief Executive Officer. "To
see the Ezulwini Mine come into production on schedule is particularly
gratifying and confirms the confidence we have in the ability of our
experienced operating team at this site to meet future milestones on time and
on budget. To this end, they are on track with the start-up milestones for the
completion of our own gold plant next April and our uranium plant in June."
    First Uranium's Ezulwini Mine is an underground uranium and gold mine
located 40 kilometres southwest of Johannesburg, South Africa.
    REL is located adjacent to the north-west boundary of the Ezulwini Mine
and is a wholly-owned subsidiary of Harmony Gold Mining Company.

    Cautionary Language Regarding Forward-Looking Information

    This news release contains certain forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements
of First Uranium to be materially different from any future results,
performance or achievement expressed or implied by the forward-looking
statements. Risks and uncertainties include, among others, the actual results
of the planned feasibility study for the Buffelsfontein Tailings Recovery
Project, the actual results of additional exploration and development
activities, the timing and amount of estimated future production and the cost
thereof, the conclusions of economic evaluations, failure of plant, equipment
or processes to operate as anticipated, accidents, labour disputes or other
risks of the mining industry. Although First Uranium has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. It is important to note, that: (i) unless otherwise
indicated, forward-looking statements indicate the Corporation's expectations
as at the date hereof; (ii) actual results may differ materially from the
Corporation's expectations if known and unknown risks or uncertainties affect
its business, or if estimates or assumptions prove inaccurate; (iii) the
Corporation cannot guarantee that any forward-looking statement will
materialize and, accordingly, readers are cautioned not to place undue
reliance on these forward-looking statements; and (iv) the Corporation
disclaims any intention and assumes no obligation to update or revise any
forward-looking statement even if new information becomes available, as a
result of future events or for any other reason. In addition, First Uranium is
in the development stage and is subject to the risks and challenges similar to
other companies in a comparable stage of development. The risks include, but
are not limited to, certain business, operational and market risks. For a
discussion of the Corporation's risks please refer to the Corporation's Annual
MD&A, the 2007 Annual Information Form and other filings, which are available
on the Corporation's website www.firsturanium.com and on www.sedar.com or upon
request from the Corporation.

    About First Uranium Corporation

    First Uranium Corporation is focused on the development of South African
uranium and gold mines with the goal of becoming a significant producer
through the re-opening and development of the Ezulwini Mine, and the
construction of the Buffelsfontein Tailings Recovery Project. First Uranium
also plans to grow production by pursuing acquisition and joint venture
opportunities.

    First Uranium Corporation
    1240-155 University Avenue, Toronto, ON Canada M5H 3B7
    www.firsturanium.com





For further information:

For further information: Bob Tait, VP Investor Relations at (416)
558-3858 or bob@firsturanium.com

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