Operations resume at Mine Waste Solutions

TORONTO AND JOHANNESBURG, Aug. 2, 2011 /CNW/ --
SOUTH AFRICAN NATIONAL NUCLEAR REGULATOR (NNR) LIFTS DIRECTIVE

TORONTO AND JOHANNESBURG, Aug. 2, 2011 /CNW/ - Further to the
announcement of July 25, 2011 regarding the directive issued to First
Uranium Corporation's (TSX:FIU), (JSE:FUM) (ISIN:CA33744R1029) ('First
Uranium' or 'the Company') Mine Waste Solutions tailings reprocessing
operation ('MWS'), by the South African National Nuclear Regulator (the
'NNR') to cease deposition of material on all existing tailings storage
facilities,  First Uranium has today received conditional permission
from the NNR to resume operations at MWS.

The MWS received the directive from the NNR on July 25, 2011.

Following a site inspection on Friday 29, July 2011, the regulator
agreed to lift the suspension on condition that MWS adhered strictly to
the conditions of the nuclear authorisation-COR-30, inter alia that MWS
provide the NNR with monthly self inspection reports in accordance with
the enhanced pipeline maintenance program that the Company had
developed and has implemented.

The NNR will review MWS' compliance after a period of one month to
satisfy itself that the operation is complying with the conditions
imposed on the lifting of the directive.

Deon van der Mescht, president and chief executive officer of First
Uranium said: 'We are committed to continuing to be responsible
corporate citizens. MWS will continue to operate in a responsible
manner and we are confident that MWS will continue to comply with the
NNR authorisation.'

About First Uranium Corporation

First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of
becoming a low-cost producer of uranium and gold through the expansion
of the underground development to feed the new uranium and gold plants
at the Ezulwini Mine and through the expansion of the plant capacity of
the Mine Waste Solutions (MWS) tailings recovery facility, both
operations situated in South Africa.  First Uranium also plans to grow
production by pursuing value-enhancing acquisition and joint venture
opportunities in South Africa and elsewhere.

Cautionary Language Regarding Forward-Looking Information

This news release contains and refers to forward-looking information
based on current expectations.  All other statements other than
statements of historical fact included in this release including,
without limitation, statements regarding the timing and amount of
estimated future production, the processing and development plans, operating and capital
cost estimates, resource estimates, metal prices, exchange rates,
discount rates, the timing and receipt of required permits, the ability
to satisfy the Franco Nevado Completion Test and future plans and
objectives of First Uranium are forward-looking statements (or
forward-looking information) that involve various estimates,
assumptions, risks and uncertainties.  For more details on these
estimates, assumptions, risks and uncertainties, see the Company's most
recent Annual Information Form ('AIF') and Management's Discussion and
Analysis ('MD&A') on file with the Canadian provincial securities
regulatory authorities on SEDAR at www.sedar.com. No assurance can be
given that a financing transaction will be concluded. These
forward-looking statements are made as of the date hereof and there can
be no assurance that such statements will prove to be accurate, such
statements are subject to significant risks and uncertainties, and
actual results and future events could differ materially from those
anticipated in such statements.  Accordingly, readers should not place
undue reliance on forward-looking statements that are included herein,
except in accordance with applicable securities laws.  For details on
the Gold Wheaton Completion Test see the AIF and MD&A.

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Julian Gwillim, julian@aprio.co.za
Gail Strauss, gailstrauss@mweb.co.za