URANIUM ONE INC - Uranium One Provides Update on Going Private Transaction

Uranium One Provides Update on Going Private Transaction

Uranium One Inc
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
(“Uranium One” or the “Company”)

                       News Release

June 13, 2013

               Uranium One Provides Update on Going Private Transaction

Toronto, Ontario – Uranium One Inc. (the “Corporation”) today announced that the closing of the
agreement between JSC Atomredmetzoloto, its affiliate Effective Energy, N.V. (collectively,
“ARMZ”) and the Corporation under which Uranium One would be taken private pursuant to a
plan of arrangement is now expected to occur during the third quarter of 2013.

The transaction was approved on March 7, 2013 at a special meeting of Uranium One common
shareholders and optionholders and has received all required court approvals. Closing is subject
to regulatory approvals in a number of jurisdictions, most of which have been received; the last
such required approval is now expected during the third quarter.

About Uranium One

Uranium One is one of the world’s largest publicly-traded uranium producers with a globally
diversified portfolio of assets located in Kazakhstan, the United States, Australia and Tanzania.
ARMZ and its affiliates currently are Uranium One’s largest shareholder, owning approximately
492.2 million (approximately 51.4% of the outstanding) common shares of Uranium One.

For further information, please contact:

Chris Sattler
Chief Executive Officer
Tel: +1 647 788 8500

Anton Jivov
Vice President, Corporate Affairs
Tel: +1 647 788 8461

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained
herein.

Forward-looking statements:

This press release contains “forward-looking statements” within the meaning of applicable securities laws that are intended to be
covered by the safe harbours created by those laws, including statements that use forward-looking terminology such as “may”,
“will”, “expect”, “anticipate”, “believe”, “continue”, “potential”, or the negative thereof or other variations thereof or comparable
terminology. Such forward-looking statements may include, without limitation, statements regarding the completion of the proposed
transaction and other statements that are not historical facts. While such forward-looking statements are expressed by Uranium One,
as stated in this release, in good faith and believed by Uranium One to have a reasonable basis, they are subject to important risks
and uncertainties including, without limitation, approval of applicable governmental authorities, necessary Court approvals, the
satisfaction or waiver of certain other conditions contemplated by the Arrangement Agreement, and changes in applicable laws or
regulations, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-
looking statements. As a result of these risks and uncertainties, the proposed transaction could be modified, restructured or not be
completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events.
These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Uranium
One is not affirming or adopting any statements made by any other person in respect of the proposed transaction and expressly
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except in accordance with applicable securities or to comment on expectations of, or statements made by
any other person in respect of the proposed transaction. Investors should not assume that any lack of update to a previously issued
forward-looking statement constitutes a reaffirmation of that statement. Reliance on forward-looking statements is at investors' own
risk.

For further information about Uranium One, please visit www.uranium1.com.

Sponsor
Nedbank Capital

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