UraMin Inc. ("UraMin" or the "Company")

    TORONTO, March 28 /CNW/ - The Company announces that on the
recommendation of the Remuneration Committee it has granted options over a
further 6,410,000 ordinary shares of no par value under its share option
scheme to directors, employees and consultants at an exercise price of
(pnds stlg)2.47 per share. The directors to whom options have been granted

    -   An option over 1,400,000 shares to Ian Stalker, Chief Executive
        Officer (total 5,400,000 shares under option following this grant)

    -   An option over 1,400,000 shares to Stephen Dattels, Deputy Chairman
        (total 4,000,000 shares under option following this grant)

    -   An option over 400,000 shares to Neil Herbert, Finance Director
        (total 2,700,000 shares under option following this grant)

    -   An option over 100,000 shares to James Pitman, Vice President
        Corporate Affairs (total 1,900,000 shares under option following this

    The remaining 3,110,000 options were granted to management, employees and
consultants of the Company.
    The options will vest over in three equal annual instalments commencing
on the date of grant and will expire in 2017.


    UraMin (www.uramin.com) was established in 2005 to acquire and develop
mineral properties, predominantly uranium. Following the private placement the
Company currently working capital of approximately US$300 million and a market
capitalization of approximately US$1.3 billion on an undiluted basis. UraMin
(www.uramin.com) is traded on the Alternative Investment Market of the London
Stock Exchange plc and the Toronto Stock Exchange under the symbol UMN.
    UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for prospecting licences will be successful.


    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
    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: UraMin, Ian Stalker, Chief Executive Officer,
Neil Herbert, Finance Director, Tel: +27 (0)11 783 5056; Canaccord Adams
Limited, Robin Birchall, Tyler Broda, Tel: +44 (0) 20 7050 6500; Heenan
Blaikie LLP, Steve Vaughan, Toronto, (416) 643-6924

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