Acquisition of Uramin: Remaining shares to be redeemed, and cancellation of AIM listing

    TORONTO, Aug. 3 /CNW/ - Further to the announcement on 15 June 2007
regarding AREVA's offer (the "Offer") through its indirect wholly-owned
subsidiary CFMM Développement to acquire all of the issued and outstanding
ordinary share capital (the "Shares") of UraMin Inc ("UraMin" or "the
Company") (TSX/AIM: UMN), AREVA announced on 31 July 2007 that, as at
5:00 p.m. (Toronto time) on 30 July 2007, the expiry time of the Offer, valid
acceptances have been received in respect of approximately 92.93 per cent of
the issued share capital of UraMin.
    As AREVA has acquired over 90% of the Shares, in accordance with the laws
of the British Virgin Islands, AREVA announces that it has today issued a
notice to UraMin requiring UraMin to redeem the remaining Shares not held by
AREVA (the "Minority Shares"). UraMin will send a notice of the redemption to
the remaining shareholders shortly. Following the completion of the redemption
procedure, which is expected to occur on 20 August 2007, AREVA will be the
sole shareholder of UraMin.
    The Company has submitted a request to the Alternative Investment Market
of the London Stock Exchange ("AIM") for the cancellation of the trading of
shares in UraMin. Such cancellation is subject to a minimum 20 business day
notice period. The last day of trading in UraMin Shares on AIM is expected to
be 3 September 2007.
    It is expected that UraMin will also request that its Shares be delisted
from trading on the Toronto Stock Exchange immediately after the redemption of
the Minority Shares has been completed.

    Forward Looking Statements:

    This announcement may include forward-looking statements. All statements
other than statements of historical fact included in this announcement,
including without limitation those regarding plans, objectives and expected
performance, are forward-looking statements. These forward-looking statements
are based on current expectations and projections about future events,
including numerous assumptions regarding present and future business
strategies, operations, and the environment in which the business will operate
in the future. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as 'ambition', 'may', 'will', 'could',
'would', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'plan',
'seek' or 'continue', or negative forms or variations of similar terminology.
Such forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors. By their nature, forward-looking
statements involve risks, uncertainties and assumptions, such as future market
conditions and the behaviour of other market participants, which may cause the
actual results, performance or achievements of UraMin to differ materially
from any future results, performance or achievements expressed or implied by
the forward looking statements. Given these risks, uncertainties, and
assumptions, you are cautioned not to put undue reliance on any
forward-looking statements. In addition, the inclusion of such forward-looking
statements should under no circumstances be regarded as a representation that
any results set out in such statements will be achieved or that the underlying
assumptions used will in fact be the case. Other than as required by
applicable law or the applicable rules of relevant exchanges, AREVA has no
intention or obligation to update or revise any forward-looking statements
included in this announcement after the release of this announcement.

For further information:

For further information: AREVA, Frédéric Potelle, Tel: +33 134 961 408;
UraMin Inc, Neil Herbert, Tel: +27 11 783 5056; Canaccord Adams Limited
(Nominated Adviser to UraMin Inc), Robin Birchall, Tel: +44 20 7050 6500

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