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First Uranium Announces Receipt of US$25 M from AngloGold Escrow; Shares Jump 46% Higher

First Uranium Corporation (FIU-H.V) has received US$25 million, being the balance of the US$335 million purchase price for the shares of Mine Waste Solutions (Proprietary) Limited, which amount had been held in escrow pursuant to the sale agreement dated March 2, 2012 with AngloGold Ashanti Limited.

The US$5 million balance of the US$70 million sale proceeds from the sale of First Uranium Limited, which owns all of the shares of Ezulwini Mining Company (Proprietary) Limited, to Gold One International Limited continues to be held in escrow pending the end of the Gold One escrow period on February 1, 2013, after which this amount, less any claims made and payable in accordance with the Gold One Agreement, if any, will be paid to First Uranium.

FIU is up 3 cents to 9.5 cents late morning. More than 1 million shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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