FUM - First Uranium Corporation - Dismissal of the appeal lodged by the

FUM - First Uranium Corporation - Dismissal of the appeal lodged by the         
federation for a sustainable environment (FSE) against Mine Waste Solutions`    
water use licence                                                               
First Uranium Corporation                                                       
(Continued under the laws of British Columbia, Canada)                          
(Registration number C0777384)                                                  
(South African registration number 2007/009016/10)                              
Share code:  FUM   ISIN: CA33744R1029                                           
DISMISSAL OF THE APPEAL LODGED BY THE FEDERATION FOR A SUSTAINABLE ENVIRONMENT  
(FSE) AGAINST MINE WASTE SOLUTIONS` WATER USE LICENCE                           
TORONTO and JOHANNESBURG, January 05, 2012 - First Uranium Corporation (Toronto:
FIU) (JSE: FUM) (ISIN: CA33744R1029) ("First Uranium" or the "Company")         
announced that it has received official notification that the South African     
Water Tribunal has dismissed the appeal lodged by the FSE against Mine Waste    
Solutions` Water Use Licence. The ruling vindicates the Company`s decision to   
continue operating the Mine Waste Solutions project in accordance with the      
terms and conditions of its valid water use licence since the purported appeal  
was lodged in March 2011.  The Water Tribunal found that it had no jurisdiction 
to hear the case and consequently the FSE had no legal standing to bring the    
appeal.  As a result the Water Tribunal has closed its file on the matter.      
For further information, please contact:                                        
Adam Gunn - adam.gunn@firsturanium.com                                          
Deon van der Mescht - deon.vdmescht@firsturanium.com                            
About First Uranium Corporation                                                 
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming 
a low-cost producer of gold and uranium through the expansion of the underground
development to feed the new gold and uranium plants at the Ezulwini Mine and the
ramp-up of production at the Mine Waste Solutions (MWS) tailings recovery       
facility following the completion of a significant gold capital expansion       
program in May 2011. Both operations are located in South Africa.               
www.firsturanium.com                                                            
5 January 2012                                                                  
Date: 05/01/2012 08:39:16 Supplied by www.sharenet.co.za                     
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