Uranium One Files Technical Reports Supporting Updated Mineral Resource and Reserve Estimates for the Karatau and Akbastau Uranium Mines

TORONTO, Dec. 19, 2013 /CNW/ - Uranium One Inc. ("Uranium One") today announced the filing on SEDAR of independent technical reports supporting the updated mineral resource and reserve estimates for its Akbastau and Karatau uranium mines originally announced in its press release dated November 5, 2013.

The reports were prepared by CSA Global Pty Ltd. with the assistance of Roscoe Postle Associates Inc. and confirm the resource and reserve estimates for Akbastau and Karatau announced earlier, subject to two minor adjustments: (i) at Akbastau, the Company's attributable share of proven and probable reserves as of June 30, 2013 is 41.12 million lbs U₃O₈ (15,817.5 t U), rather than the 41.075 million lbs U₃O₈ (15,799 t U) reported earlier; and (ii) at Karatau, the Company's attributable share of proven and probable reserves as of June 30, 2013 is 67.52 million lbs U₃O₈ (25,971, t U) rather than the 67.543 million lbs U₃O₈ (25,980 t U) reported earlier.

About Uranium One

Uranium One is one of the world's largest uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, Australia and Tanzania.

Cautionary Statements

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

Scientific and technical information contained herein has been reviewed on behalf of the Corporation by Mr. M.H.G. Heyns, Pr.Sci.Nat. (SACNASP), MSAIMM, MGSSA, Senior Vice President New Business and Technical Services of the Corporation, a qualified person for the purposes of NI 43-101.

Investors are advised to refer to independent technical reports containing detailed information with respect to the material properties of Uranium One. These technical reports are available under the profile of Uranium One Inc. at www.sedar.com. Those technical reports provide the date of each resource or reserve estimate, details of the key assumptions, methods and parameters used in the estimates, details of quantity and grade or quality of each resource or reserve and a general discussion of the extent to which the estimate may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. The technical reports also provide information with respect to data verification in the estimation.

For further information about Uranium One, please visit www.uranium1.com.

SOURCE Uranium One Inc.