Uranium One Appoints Chief Operating Officer

    Trading Symbols: UUU - Toronto Stock Exchange, JSE Limited (Johannesburg
    Stock Exchange)

    VANCOUVER and JOHANNESBURG, Sept. 16 /CNW/ - Uranium One Inc. announced
today that it has appointed Steve Magnuson as Chief Operating Officer with
effect from October 1, 2008. He will be based in Denver, Colorado.
    Mr. Magnuson is a professional engineer with 30 years mining experience
primarily in uranium in situ recovery (ISR) operations. Most recently, Mr.
Magnuson was Vice President of Operations for Cameco Resources, a wholly owned
U.S. subsidiary of Cameco Corporation with ISR operations in Wyoming and
Nebraska and direct management of the Inkai Joint Venture in Kazakhstan.
    Mr. Magnuson joined Crow Butte Resources, Inc. in 1989 and was
responsible for the construction and subsequent expansion of the Crow Butte
Mine in Nebraska. He also directed the commercial development and operation of
the Inkai ISR project test plant facility in Kazakhstan.
    Jean Nortier, Chief Executive Officer of Uranium One said:
    "We are extremely pleased that Steve will be joining us as Chief
Operating Officer. Uranium One has a highly attractive, rapidly growing
portfolio of ISR mines and development projects in the United States and
Kazakhstan and Steve's experience and leadership abilities are very well
suited to realizing the potential of these assets.
    I wish to also thank Dave Hodgson for his contributions to the growth of
our business during his tenure as acting Chief Operating Officer. Uranium One
will continue to benefit from Dave's extensive experience and guidance, first
during the hand over period to Steve, and then in his ongoing role as a
director of the Company."

    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. In the United States, Uranium One has extensive
property holdings in Wyoming, Texas, Utah and New Mexico, including the
Shootaring Canyon Mill and the Hobson ISR facility. Uranium One is also
engaged in uranium exploration activities in the United States, the Athabasca
Basin of Saskatchewan, South Africa and Australia.

    Cautionary Statement

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

    %SEDAR: 00005203E

For further information:

For further information: Jean Nortier, Chief Executive Officer, Tel: +27
11 482-3605; Chris Sattler, Senior Vice President, Corporate Development and
Investor Relations, Tel: (416) 350-3657; For further information about Uranium
One, please visit www.uranium1.com

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Uranium One Inc.

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