/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TORONTO, June 29 /CNW/ - The Company announces that it has issued a total
of 507,000 new Ordinary Shares of no par value pursuant to the exercise of
The shares are listed on the TSX and application has been made for these
shares to be admitted to trading on AIM and it is expected that dealings will
commence 4 July 2007.
The securities referred to in this release will not be registered under
the United States Securities Act of 1933 or the laws of any state and may not
be offered or sold in the United States absent such registration or an
applicable exemption from registration requirements.
UraMin (www.uramin.com) was established in 2005 to acquire and develop
mineral properties, predominantly uranium. UraMin is focused on advancing its
100%-owned Trekkopje uranium project in Namibia to the completed Definitive
Feasibility Study stage. A trial mine is planned for the fourth quarter of
2007 and commercial production is planned for late 2008. The Company also has
a feasibility study underway at its 90%-owned Bakouma uranium project in the
Central African Republic and on its 74%-owned Ryst Kuil uranium project in
South Africa. SRK is the lead consultant for the Ryst Kuil Project.
UraMin intends to bring these near-surface open-pitable projects into
production, utilizing efficient mining and processing methods currently in
practice worldwide in similar deposits in a cost-effective manner.
UraMin also has a number of exploration projects in both Africa (Chad,
Niger, Senegal and Mozambique) and joint venture projects in Canada (the Rea
Project within the Athabasca Basin in Alberta and the Labrador Project in
Quebec) on which it is advancing exploration programs that could provide a
pipeline of potentially economic uranium projects for the future.
This press release contains statements that are "forward-looking".
Generally, the words "expect," "intend," "estimate," "will" and similar
expressions identify forward-looking statements. By their very nature,
forward-looking statements are subject to known and unknown risks and
uncertainties that may cause our actual results, performance or achievements,
or that of our industry, to differ materially from those expressed or implied
in any of our forward-looking statements. Statements in this press release
regarding the Company's business or proposed business, which are not
historical facts, are "forward looking" statements that involve risks and
uncertainties, such as estimates and statements that describe the Company's
future plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in such
statements. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they are made.
For further information:
For further information: Neil Herbert, Finance Director, Tel: +27 (0)11
783 5056; Nominated Advisor, Canaccord Adams, Robin Birchall, Tel: +44 (0)20
7050 6500; Toronto, Steve Vaughan, Tel: (416) 643-6924