Uravan Announces Private Placement

    T S X V :   U V N

    CALGARY, June 19 /CNW/ - Uravan Minerals Inc. (the "Corporation") is
pleased to announce that it has completed its previously announced $2,900,000
non-brokered private placement (the "Offering") by issuing up to 2,000,000
common shares (the "Common Shares") at a price of $1.45 per Common Share.
    Proceeds of the Offering will be used by the Corporation to finance
potential uranium opportunities and for working capital and general corporate
purposes. Common shares issued in connection with the Offering will be subject
to a four-month hold period.

    About Uravan Minerals Inc.
    Uravan Minerals Inc. ("Uravan") is a Calgary, Alberta based mineral
exploration company specializing in uranium, base metal (nickel, copper) and
precious metal (gold, platinum, and palladium) exploration. Uravan's principal
assets are the Boomerang uranium project, the Garry Lake uranium property and
the Rottenstone Nickel-Copper-PGE project. Due to the persistent increase in
the uranium prices, going from $7.10 per pound U(3)O(8) in 2000 to $125.00
recently, Uravan has become highly focused in pursuing exploration for
potential high-grade unconformity-type uranium deposits on its joint
Cameco-Uravan Boomerang uranium project and its Gary Lake uranium project plus
acquiring additional uranium properties in other potential geological domains.
Uravan is a publicly listed company on the TSX Venture Exchange under the
trading symbol UVN. Uravan now has 26,557,614 shares outstanding and
$11.9 million in working capital. All of the mineral properties Uravan owns
are considered in the exploration stage of development.

    This press release may contain forward looking statements including those
describing the Company'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 Company 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: uravanminerals.com

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Uravan Minerals Inc.

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