Uranium One Names Scott Melbye as Executive Vice President, Marketing

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Feb. 11 /CNW/ - Uranium One Inc. today announced that Scott Melbye will join the Company in May as Executive Vice President of Marketing.

Mr. Melbye has 27 years of experience in uranium trading, procurement and marketing, having most recently served as President of Cameco, Inc., a subsidiary of Cameco Corporation, where he was responsible for managing the company's world-wide uranium marketing and trading activities.  Mr. Melbye also played a leading role in representing the Uranium Producers of America in its discussions with the U.S. Department of Energy on the disposition of the DOE's uranium inventories. 

Prior to joining Cameco in 1989, Mr. Melbye held positions at Nukem, Inc., and Arizona Public Service, where he was actively involved in trading and fuel procurement, respectively.  He is currently vice chair of the Board of Governors of the World Nuclear Fuel Market, and holds a B.Sc. in Business Administration from Arizona State University, with degree specialization in International Business.

Chris Sattler, Chief Executive Officer of Uranium One, commented:

"I am delighted to have Scott join our senior management team.  He brings invaluable industry knowledge, experience and perspective, which will serve the Company and its customers well as we continue to execute on our strategy of becoming one of the world's largest uranium suppliers."   

About Uranium One

Uranium One is one of the world's largest publicly traded uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, and Australia.

Cautionary Statement

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

Forward-looking statements: This press release contains certain forward-looking statements. Forward-looking statements include but are not limited to those with respect to the price of uranium, the estimation of mineral resources and reserves, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Uranium One to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the completion of the transactions described in this press release, the future steady state production and cash costs of Uranium One, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the mining industry, delays in obtaining government approvals or financing or in completion of development or construction activities, risks relating to the integration of acquisitions and the realization of synergies relating thereto, to international operations, to prices of uranium as well as those factors referred to in the section entitled "Risk Factors" in Uranium One's Annual Information Form for the year ended December 31, 2009 and Management Information Circular dated August 3, 2010, each of which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document. Although Uranium One 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. There can be no assurance that forward-looking 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. Uranium One expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

For further information about Uranium One, please visit www.uranium1.com

SOURCE Uranium One Inc.

For further information:

Chris Sattler
Chief Executive Officer 
Tel: + 1 416 350-3657

Rob Buchanan
Director, Investor Relations
Tel: + 1 416 350-3657

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Uranium One Inc.

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