Change of Corporate Name - Uranium One Inc.

    Trading Symbol: SXR - Toronto Stock Exchange, JSE Limited
    (Johannesburg Stock Exchange)

    TORONTO and JOHANNESBURG, South Africa, June 13 /CNW/ - sxr Uranium One
Inc. is pleased to announce that it has formally changed its corporate name to
"Uranium One Inc." The change in corporate name was approved by shareholders
at the Corporation's annual and special meeting on June 7, 2007. It is
expected that the Corporation's common shares will commence trading on the TSX
under the new name at the opening of business on or about Monday, June 18,
    Said Neal Froneman, Uranium One's President and CEO: "The change in
corporate name signals a new stage in the Corporation's development. In the
period since our formation in the 2005 merger between Aflease Gold and Uranium
Resources and Southern Cross Resources, we have become a leading,
international senior uranium producer. The change in name marks this milestone
and we look forward to continuing our growth under the Uranium One brand."

    About Uranium One

    Uranium One Inc. is a Canadian-based uranium producing company with a
primary listing on the Toronto Stock Exchange and a secondary listing on the
JSE Limited (the Johannesburg stock exchange). The Corporation owns 70% of the
operating Akdala Uranium Mine in Kazakhstan and is also developing the South
Inkai and Kharasan Uranium Projects in Kazakhstan. Uranium One owns the
Dominion Uranium Project in South Africa, as well as the Honeymoon Uranium
Project in South Australia. The Corporation recently acquired the Shootaring
Mill and associated assets in the western United States. Uranium One is also
engaged in uranium exploration activities in the Athabasca Basin of
Saskatchewan, South Africa, Australia and the Kyrgyz Republic.

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

    For further information about Uranium One, please visit

    %SEDAR: 00005203E

For further information:

For further information: Neal Froneman, Chief Executive Officer, Tel: +
27 83 628 0226; Chris Sattler, Senior Vice President, Investor Relations, Tel:
(416) 671-3341

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Uranium One Inc.

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