FIRST URANIUM CORPORATION 
By
Toronto and Johannesburg - First Uranium Corporation
(NEX:FIU.H), (JSE:FUU) (ISIN:CA33744R5087) ("First Uranium"
or "the Corporation") announces that it will make an initial
distribution (the "Distribution") on October 1, 2012 of
Cdn$0.125 per unit to shareholders of the Corporation in the
form of a redemption of the Class A Special Shares. Holders
of the units (the "Units") of record as of the close of
business on September 28, 2012 (the "Record Date") will be
entitled to receive the Distribution.
Each Unit is currently comprised of 100 Class A Special
Shares and 1 Class B Common Share. The Corporation will
redeem pro rata 12.5 Class A Special Shares (the
"Redemption") for every 100 of the Class A Special Shares of
First Uranium held by each shareholder on the Record Date at
a price per Class A Special Share of Cdn$0.01 for a total of
Cdn$0.125 per Unit. Following the Redemption, each Unit will
be comprised of
87.5 Class A Special Shares and 1 Class B Common Share. There
will be no reduction in the number of Units held by a
shareholder as a result of the Redemption.
Holders of Units recorded on the register maintained by
Computershare Investor Services Proprietary Limited and
traded on the JSE Limited will receive the Distribution in
South Africa rand at a price per Class A Special Share of
ZAR0.08402 for a total of ZAR1.05 per Unit.
Shareholders will receive the Distribution as a return of
stated capital on the Class A Special Shares. See the
Management Information Circular dated May 4, 2012 for
additional information concerning certain Canadian federal
income tax consequences of the Distribution.
Shareholders will not be required to surrender share
certificates representing the Units in order to receive the
Distribution. The Corporation, through its transfer agent,
will record the Redemption of Class A Special Shares on the
Corporation's share register.
Mary Batoff: (416) 306
