URANIUM ONE INC - Uranium One Announces Intention to Refinance Ruble Bonds

Uranium One Announces Intention to Refinance Ruble Bonds

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

News Release

August 13, 2013

           Uranium One Announces Intention to Refinance Ruble Bonds

Toronto, Ontario – Uranium One Inc. (“Uranium One” or the “Company”) today
announced that its Board of Directors has authorized the Company to refinance its
existing unsecured, non-convertible, interest-bearing and certificated ruble-denominated
bonds. The refinancing, if completed, would result in the extension to 2020 of the term
of the ruble-denominated debt issued by the Company in 2011.

The Company has scheduled August 23, 2013 as the proposed closing date for the
refinancing, subject to certain conditions (as set out below).

The proposed refinancing would be effected by (i) a public offering in Russia of up to
RUB12,500,000,000 aggregate principal amount of non-convertible unsecured interest
bearing certified bearer bonds of Series 02 (“Series 02 Bonds”) under the prospectus
dated October 17, 2011 previously filed by the Company with the Russian Federal
Service for Financial Markets (the “Offering”), and the listing of the Series 02 Bonds so
issued on the Closed Joint-Stock Company “Moscow Interbank Currency Exchange”
(“MICEX”); and (ii) a simultaneous public offering to repurchase, through the facilities
of MICEX, the Company’s RUB14,300,000,000 aggregate principal amount outstanding
non-convertible unsecured interest bearing certified bearer bonds of Series 01 (the
“Series 01 Bonds”) issued on December 7, 2011 under the above-mentioned prospectus
(the “Repurchase”). The Company has also set an effective term of seven (7) years for
the Series 02 Bonds. Both the Offering and Repurchase are conditional on the Company
receiving commitments to purchase Series 02 Bonds of a value of at least RUB
11,750,000,000.

The refinancing does not affect the Company’s pending going private transaction, which
is still anticipated to be completed by the end of Q3 2013.

This announcement is being made concurrently with a similar Russian announcement
prescribed by the Russian Federal Service for Financial Markets. On satisfaction of the
closing conditions, further details of the Repurchase and the Offering, including the
aggregate principal amount, tenor and coupon rate, will be disclosed in subsequent news
releases in accordance with applicable Russian legal requirements.
About Uranium One

Uranium One is one of the world’s largest 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, and have entered into an agreement to acquire the remaining outstanding
common shares of Uranium One, subject to receipt of all necessary regulatory approvals.

For further information, please contact:

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

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 and terms of the
proposed offering and sale of the Series 02 Bonds referred to herein and the use of the proceeds of such offering, the completion and
terms of the proposed repurchase of Series 01 Bonds, 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, the completion of the proposed transactions,
the state of the capital markets, and changes to the content or application of the relevant 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

14 August 2013

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