First Uranium announces that the Federation for a Sustainable Environment is appealing the decision of the South African Water Tribunal

TORONTO AND JOHANNESBURG, Feb. 1, 2012 /CNW/ - First Uranium Corporation (Toronto: FIU) (JSE: FUM) (ISIN: CA33744R1029) ("First Uranium" or the "Company") announced that it has received today notification that the Federation for a Sustainable Environment ("FSE") submitted a notice of appeal to the High Court of South Africa regarding the recent decision of the South African Water Tribunal dismissing the appeal lodged by the FSE against Mine Waste Solutions' Water Use Licence (see the Company's press release dated January 4, 2012). The Water Tribunal found that it had no jurisdiction to hear the case and consequently the FSE had no legal standing to bring the appeal.

The Company has not received a copy of the FSE's appeal application. The Company intends to vigorously defend the appeal.

About First Uranium Corporation

First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming a low-cost producer of gold and uranium through the expansion of the underground development to feed the new gold and uranium plants at the Ezulwini Mine and the ramp-up of production at the Mine Waste Solutions (MWS) tailings recovery facility following the completion of a significant gold capital expansion program in May 2011. Both operations are located in South Africa.

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, including the future plans and objectives of First Uranium, are forward-looking statements (or forward-looking information) that involve risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. Readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

www.firsturanium.com

Adam Gunn - [email protected]

Scot Sobey - [email protected]