FUM - First Uranium Corporation - Exchange of common shares to Class A special

FUM - First Uranium Corporation - Exchange of common shares to Class A special  
shares linked to Class B common shares                                          
First Uranium Corporation                                                       
(Continued under the laws of Ontario, Canada)                                   
(Registration number 2082276)                                                   
(South African registration number 2007/009016/10)                              
Share code:  FUM   ISIN: CA33744R1029                                           
EXCHANGE OF COMMON SHARES TO CLASS A SPECIAL SHARES LINKED TO CLASS B COMMON    
SHARES                                                                          
TORONTO and JOHANNESBURG, June 22, 2012 - First Uranium Corporation (Toronto:   
FIU) (JSE: FUM) (ISIN: CA33744R1029) ("First Uranium" or the "Company")announces
that following a special meeting of the shareholder of First Uranium Corporation
held on 13 June 2012, shareholders approved the reorganization of the capital of
the Corporation which involves issuance of an unlimited number of Class A       
Special Shares and an unlimited number of Class B Common Shares and the exchange
of each common share of the Corporation for a unit (the "Units") consisting of  
100 Class A Special Shares and one Class B Common Shares (the "Share Capital    
Reorganization") which will trade as a unit.                                    
The following details of the conversion are as follows;                         
ISIN number of the Units                     CA33744R5087                       
JSE Code                                     FUU                                
Short name                                   FIUUNIT                            
Finalisation Date                            Friday, 22 June 2012               
Last Date to Trade                           Friday, 29 June 2012               
Listing of the Units and suspension of                                          
the common shares                            Monday, 2 July 2012                
Record date                                  Friday, 6 July 2012                
Issue of the Units                           Monday, 9 July 2012                
Dematerialised shareholders will have their                                     
Accounts at their CSDP or broker updated on  Monday, 9 July 2012                
Note:                                                                           
Shares may not be transferred between the registers in Canada and South Africa  
between Monday, 2 July 2012 and Friday, 6 July 2012, both days inclusive.       
For more information please contact;                                            
Mary Battoff - mary@firsturanium.ca                                             
25 June 2012                                                                    
Sponsor: Investec Bank Limited                                                  
Date: 25/06/2012 07:05:01 Supplied by www.sharenet.co.za                     
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