First Uranium's Ezulwini prospecting rights application accepted by South African Department of Minerals and Energy



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
    NEWSWIRE SERVICES/

    TORONTO and JOHANNESBURG, South Africa, April 16 /CNW/ - First Uranium
Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the
Company") today announced that the South African Department of Minerals and
Energy ("DME") has accepted for consideration the Company's application in
respect of a Prospecting Work Program (the "Program") on contiguous properties
to the north-east and south-east of First Uranium's Ezulwini underground
uranium and gold mining project in South Africa.
    The initial stages of the Program will test the strike extent of the
Middle Elsburg Reef in an area east of the Ezulwini project. The Program will
include surface diamond drill exploration with drill hole depths of up to
2,000 metres. Previous exploration drilling conducted in the area by Gencor
confirmed the presence of mineralization along the approximately 20 kilometres
of strike within the prospecting area included in the Program
(see map: http://files.newswire.ca/589/firsturanium1.pdf).
    The Ezulwini project and the properties which are the subject of the
Program are located in the Witwatersand Basin, which is the largest known gold
province in the world, with deposits having been mined for well over
100 years. Several groups of reefs have been identified in the area, including
the Livingstone Reefs, the South Reef, the Kimberley Reefs, the Bird Reefs,
the Mondeor Reefs, the Ventersdorp Contact Reef and the Black Reef, as well as
the Elsburg Reefs associated with the Ezulwini project. Within these reefs, a
total of nine economic reef horizons have been mined at depths below surface
of between 600 metres and 1,260 metres.
    Acceptance by the DME implies that no other parties have made prior
application for the prospecting rights, and that, subject to the Company
complying with all the requirements of the DME, the rights will in due course
be granted. However, the Company must submit the following to the DME to
obtain their approval for the grant of the rights prior to commencing the
Program:

    
    -   the results of a notification and consultation with the surface
        owners of the land overlying the Program area by May 13, 2007;
    -   an acceptable Environmental Management Plan by June 12, 2007; and
    -   confirmation of the Company's qualifying Black Economic Empowerment
        credentials.
    

    The Program fits within the Company's strategy to focus its exploration
on or near its current projects in order to leverage the infrastructure of
those projects. For instance, at Ezulwini the Company is currently working on
re-commissioning the Ezulwini mine with the intention to start hoisting
uranium ore and gold production in October 2007 and is scheduled to complete
construction of new uranium and gold plants by June 2008.

    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 processing 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 actual
results of the planned feasibility studies on First Uranium's projects; the
actual results of additional exploration and development activities at First
Uranium's projects; the timing and amount of estimated future production and
the costs thereof; capital expenditures; the costs and timing of the
development of First Uranium's projects; the availability of any additional
capital required to bring future projects into production; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; future prices of commodities; the failure of plant, equipment or
processes to operate as anticipated; accidents; labour disputes; delays in
obtaining governmental approvals, permits or financing or in the completion of
development or construction activities; currency fluctuations, as well as
those factors discussed under "Risk Factors" in First Uranium's final
prospectus dated December 12, 2006 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 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 underground mine, and
the construction of the Buffelsfontein tailings recovery facility. 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: Gordon Miller, President and Chief Executive
Officer, at +27 11 830 0390; or Bob Tait, VP Investor Relations, at (416)
558-3858, or bob@firsturanium.com

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