Company seeks greater clarification from NWDACE
TORONTO and JOHANNESBURG, Jan. 20 /PRNewswire-FirstCall/ - First Uranium Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company") has been notified by the North West Provincial Government's Department of Agriculture, Conservation, Environment and Rural Development ("NWDACE") of their decision to withdraw the Company's environmental authorization ("EA") for a new Tailings Storage Facility ("TSF") designed to accommodate future tailings deposition capacity requirements at the Company's MWS tailings recovery project in South Africa.
NWDACE's decision to withdraw the EA was unexpected, as the Company had, in December 2009, secured the withdrawals of two of three previously filed third-party appeals. First Uranium had been advised that the third appeal would also be withdrawn.
"The Company is currently seeking clarification from NWDACE's regarding their apparent decision, before undertaking any action," said Gordon Miller, President and CEO of First Uranium. "We will keep shareholders informed as more information becomes available."
As previously disclosed, MWS received a positive record of decision ("RoD") from NWDACE in July 2009 to construct the TSF. After the RoD was received, three appeals were then lodged by interested third parties with the offices of the Member of the Executive Council (the "MEC") for the Northwest Province. In reaction to the appeals, the MEC subsequently advised MWS that the RoD was being suspended pending the outcome of the appeal process governed by the National Environmental Management Act ("NEMA"). In October 2009, NWDACE notified MWS that they intended to withdraw the RoD. MWS submitted its response on November 5, 2009 to NWDACE, recommending a retrospective authorization process under NEMA to address NWDACE's issues.
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release including, without limitation, statements regarding production and development plans and future plans and objectives of First Uranium are forward-looking statements (or forward-looking information) that involve various risks and uncertainties. These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.
Important factors could cause actual results to differ materially from First Uranium's expectations. Such factors include, among others: the timing and amount of estimated future production and the costs thereof; the failure of plant, equipment or processes to operate as anticipated; accidents; labour disputes; delays in obtaining governmental approvals, as well as those factors discussed under "Risk Factors" in First Uranium's Annual Information Form dated June 29, 2009 as filed with securities regulatory authorities in Canada. Although First Uranium has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming a significant low-cost producer of uranium and gold through the expansion of the underground development to feed the new uranium and gold plants at the Ezulwini Mine and through the expansion of the plant capacity of the Mine Waste Solutions tailings recovery facility, both operations situated in South Africa.
SOURCE First Uranium Corporation