Uravan - Notice of Grant of Stock Options


    CALGARY, June 12 /CNW/ - The Board of Directors of Uravan Minerals Inc.
(the "Corporation") has approved the granting of 905,000 common share options
("stock options") pursuant to the Corporation's incentive stock option plan
(the "Plan") to the directors, officers and employees (the "optionee") of the
Corporation. The Plan is administered by the Board of Directors of the
Corporation who make allocations from time to time to eligible persons after
considering their present and potential contributions and value to the
Corporation. Each stock option can be exercised by the optionee into common
shares of the Corporation, issued form treasury, at an exercise price of $1.63
per share. The term of the stock options granted under the Plan will be five
years. The stock options granted are in accordance with regulatory policy as
determined by the TSX Venture Exchange. The proposed granting of these stock
options is subject to TSX Venture Exchange approval.
    The Corporation currently has 24,557,614 Shares issued and 1,200,000
stock options outstanding.

    This press release may contain forward looking statements including those
describing the Corporation's future plans and the expectations of management
that a stated result or condition will occur. Any statement addressing future
events or conditions necessarily involves inherent risk and uncertainty.
Actual results can differ materially from those anticipated by management at
the time of writing due to many factors, the majority of which are beyond the
control of the Corporation and its management.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Larry Lahusen, President, Uravan Minerals Inc.,
Tel: (403) 264-2630, Fax: (403) 264-2629, Email: llahusen@uravanminerals.com,
Website: www.uravanminerals.com

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Uravan Minerals Inc.

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