MWNT - Mine Waste Solutions (Proprietary) Limited - Update on Distribution

MWNT - Mine Waste Solutions (Proprietary) Limited - Update on Distribution      
Announcement                                                                    
Mine Waste Solutions (Proprietary) Limited                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number2000/1443/07)                                               
(a wholly owned subsidiary of First Uranium Corporation)                        
JSE code MWNT, ISIN: ZAE000156261                                               
("Mine Waste Solutions", "MWS" or "the Company")                                
UPDATE ON DISTRIBUTION ANNOUNCEMENT                                             
Following the Notice on SENS on 5 March 2012, Mine Waste Solutions hereby       
confirms the following dates for an additional interest payment to Rand Note    
Holders;                                                                        
Last day to trade:                      Friday, 23 March 2012                   
Record date:                            Friday 30 March 2012                    
Interest Payment Date:                  Tuesday 24 April 2012                   
On Monday 2 April 2012, the Company made the semi-annual interest payment due   
in accordance with the Rand Note indenture for the period from and including    
30 September 2011 to and excluding 31 March 2012.  However, in a news release   
dated 5 March 2012, the Company announced that it would include interest to and 
including 31 March 2012.  Accordingly, the Company is making arrangements to pay
the additional day`s interest.                                                  
The rate of interest stipulated in the Rand Notes Indenture, being R0,30 per    
Rand Note (ZAR1000), is calculated using the nominal rate method of calculation 
and will not be calculated using the effective rate method of calculation or any
other basis that gives effect to the principle of deemed re-investment of       
interest.                                                                       
17 April 2012                                                                   
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 17/04/2012 15:57:01 Supplied by www.sharenet.co.za                     
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