URANIUM ONE INC - Uranium One Enters into Definitive Agreement with ARMZ for Going Private Transaction for CDN$2.86 per Share in Cash

Uranium One Enters into Definitive Agreement with ARMZ for Going Private Transaction for CDN$2.86 per Share in Cash

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 22, 2013

       Uranium One Announces Final Terms for Refinancing of Bonds in Russia

Toronto, Canada and Moscow, Russia - Uranium One today announced that it has
negotiated definitive commercial terms and closed the order book for its offering (the
“Offering”) of approximately USD 378.8 million (RUB12,500,000,000) aggregate
principal amount of Series 2 Ruble Bonds, originally announced in the Company’s press
release dated August 13, 2013. The Company further announced that the order book for
its public offering to repurchase the Company’s existing USD 433.3 million
(RUB14,300,000,000) aggregate principal amount of Series 1 Bonds, announced in the
same press release, has also closed (the “Repurchase”), with 83% of the existing bonds
submitted for repurchase.

Highlights of the Series 2 Bond Offering

   -    The Offering was over-subscribed.
   -    Expected gross proceeds of approximately USD 378.8 million
        (RUB12,500,000,000).
   -    Ruble interest rate of 10.25%.
   -    Effective term of seven years from the date of issue.
   -    Series 2 Bonds to be listed for trading on the Moscow Exchange.
   -    The Offering is scheduled to close on August 23, 2013.

Highlights of the Series 1 Bond Repurchase

   -    Holders of approximately USD 357.9 million (RUB11,809,941,000) aggregate
        principal amount of the Series 1 Bonds have tendered to the Repurchase.
   -    The Repurchase is scheduled to close on August 23, 2013.
   -    Funding for the Repurchase will come from the proceeds of the Series 2 Offering.
   -    The terms of the remaining USD 75.5 million (RUB2,490,059,000) Series 1
        Bonds will remain unchanged with an effective U.S. dollar interest rate of 6.74%
        and maturity of November 30, 2016.

(The U.S. dollar amounts given above are indicative and based on current spot exchange
rate of USD 1 = RUB 33.0; both series of bonds are denominated and payable in rubles.)
The Offering and the Repurchase were arranged by CJSC “Sberbank CIB” (as lead
arranger) and Gazprombank.

This announcement is being made concurrently with one or more similar Russian
announcements in the form prescribed by the Russian Federal Service for Financial
Markets.

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.

The Series 02 Bonds are offered for sale only in Russia and in such other jurisdictions in which the offer and sale of the Series 02
Bonds may be legally made and will not trigger (i) any obligation to prepare and file a prospectus or similar disclosure document, or
(ii) any registration or other obligation on the part of Uranium One.

The Series 02 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any U.S. state securities laws, nor will the Bonds be offered or sold to, or for the account or benefit of, a person in
the United States or a U.S. person, as such terms are defined in Regulation S under the U.S. Securities Act.

The distribution of this press release and other information in connection with the securities described herein in certain jurisdictions
may be restricted by law and persons into whose possession any document or other information referred to herein comes should
inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of
the securities laws of any such jurisdiction.

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




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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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