TORONTO and JOHANNESBURG, Dec. 11 /CNW/ - First Uranium Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company") today announced that in early 2010 Chairman Nigel Brunette and President and CEO Gordon Miller will relinquish their roles at associate company Simmer and Jack Mines Limited ("Simmer & Jack") to focus exclusively on First Uranium.
Robert Franklin, Lead Independent Director of First Uranium's board of directors, said:
"Nigel and Gordon have divided their time between two companies for the last three years, which has enabled First Uranium to draw on the technical support of its largest shareholder, Simmer & Jack, during an intensive capital program when our resources were limited. The capital program, at the Company's Ezulwini Mine, has been mostly completed and production is increasing as underground development continues. Also, the capital program at Mine Waste Solutions is now in its final stages and production continues to ramp up at that operation. On behalf of my fellow independent directors and the shareholders of First Uranium, I welcome this decision by Nigel and Gordon to focus their time and attention exclusively on First Uranium."
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.
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 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.
SOURCE First Uranium Corporation
For further information: For further information: Bob Tait, Vice President, Investor Relations at email@example.com, (416) 342-5639 (office) or (416) 558-3858 (mobile), 1240-155 University Avenue, Toronto, ON, M5H 3B7