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Uranium One Announces Record Production and Sales for 2011; Extends Mantra Option

Uranium One Inc (UUU.TO) today announced record production of 10.7 million pounds and record sales of 9.9 million pounds for 2011. Uranium One also announced that, under the terms of the previously disclosed Mantra option agreement between the Company and its 51% shareholder ARMZ, it has elected to pay US$150 million to ARMZ which will both extend the term of the Mantra purchase option from June 7 2012 to June 7 2013 and result in Uranium One acquiring a 13.9% stake in Mantra from ARMZ.

3.7 million shares have been traded so far.

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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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