Creating a Globally Diversified Uranium Producer. January 2012

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1 Creating a Globally Diversified Uranium Producer January 2012

2 Cautionary Statement CORPORATE PRESENTATION JANUARY 2011 Readers are advised to refer to independent technical reports containing detailed information with respect to the material properties of Uranium One. These technical reports are available under the profiles of Uranium One Inc. and UrAsia Energy Ltd., at and provide the date of each resource or reserve estimate, details of the key assumptions, methods and parameters used in the estimates, details of quantity and grade or quality of each resource or reserve and a general discussion of the extent to which the estimate may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. The technical reports also provide information with respect to data verification in the estimation. Scientific and technical information contained herein has been reviewed on behalf of Uranium One by Mr. M.H.G. Heyns, Pr.Sci.Nat. (SACNASP), MSAIMM, MGSSA, Senior Vice President of Uranium One Inc., a Qualified Person for the purposes of NI Certain of the statements herein are forward-looking statements. Forward-looking statements include but are not limited to those with respect to the price of uranium, the estimation of mineral resources and reserves, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as plans, expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate, or believes or variations of such words and phrases, or state that certain actions, events or results may, could, would, might or will be taken, occur or be achieved. Forwardlooking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Uranium One to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the completion of the transaction described in this document, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the mining industry, delays in obtaining government approvals or financing or in completion of development or construction activities, risks relating to the integration of acquisitions, to international operations, to prices of uranium as well as those factors referred to in the section entitled Risk Factors in Uranium One s Annual Information Form for the year ended December 31, 2010 and Management Information Circular dated August 3, 2010, each of which is available on SEDAR at and which should be reviewed in conjunction with this document. Although Uranium One has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as 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. Uranium One 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 laws. For further information about Uranium One, please visit 2 TSX: UUU JSE: UUU

3 Uranium Market Overview

4 Number of Nuclear Power Reactors Demand Growth Fueled by New Builds CORPORATE PRESENTATION JANUARY 2011 Global Nuclear Power Reactor New Builds Proposed Ordered or Planned 600 Under Construction Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Oct-2011 Jan-2012 Source: WNA, January TSX: UUU JSE: UUU

5 Demand Growth Fueled by New Builds China, India and Russia represent over 55% of the 560 reactors in the construction, planned or proposed categories Nuclear Reactor New Build (top eight countries) China India Russia USA Under Construction Planned Proposed Ukraine Japan UAE South Korea Number of Reactors Source: WNA, January TSX: UUU JSE: UUU

Growth of Supply from Kazakhstan An estimated 70% of new global production this decade will come from Kazakhstan and Africa Kazakhstan targeted production for 2012 of just over 21,000

6 Growth of Supply from Kazakhstan An estimated 70% of new global production this decade will come from Kazakhstan and Africa Kazakhstan targeted production for 2012 of just over 21,000 t U (55 million pounds U 3 O 8 ), an increase of approximately 7% from 2011 Primary Uranium Production by Country, Source: WNA, May TSX: UUU JSE: UUU

7 Secondary Uranium Supply Secondary Uranium Supply Millions of pounds U 3 O Expiry of HEU Agreement f 2012f 2013f 2014f 2015f 2016f 2017f 2018f 2019f 2020f Source: Ux Consulting, Q Report 7 TSX: UUU JSE: UUU

8 Current Events Uranium demand growth forecasts remain positive, despite the impact of Fukushima: Annual growth of 2-3% over the next 10 years Growth driven by emerging markets: China, India, Korea, Russia and Middle East remain committed to nuclear power and will incorporate lessons learned from Fukushima Emirates have broken ground on 4 new units and Saudi s are contemplating up to 16 units. Jordan and Turkey also moving ahead Bangladesh signed a reactor build contract with Rosatom German reaction to Fukushima appears to be the exception rather than the rule All remaining established nuclear countries are conducting stress tests to determine the ability of their reactors to withstand extreme scenarios. These reviews are generally validating the robust nature of nuclear power, while some units will face upgrades which will enhance the level of safety 8 TSX: UUU JSE: UUU

9 Overview of Uranium One

Global Asset Base South Inkai (70%) Kazakhstan Akdala (70%) Kazakhstan Wyoming Powder River Basin & Great Divide Basin Properties (100%) Akbastau (50%) Kazakhstan Zarechnoye (49.

10 Global Asset Base South Inkai (70%) Kazakhstan Akdala (70%) Kazakhstan Wyoming Powder River Basin & Great Divide Basin Properties (100%) Akbastau (50%) Kazakhstan Zarechnoye (49.7%) Kazakhstan Karatau (50%) Kazakhstan Kharasan (30%) Kazakhstan Producing Mines Development Projects Mkuju River* (Operator) Tanzania Pending Acquisition Honeymoon (51%) Australia * Pending exercise of U1 option to acquire Mantra from ARMZ 10 TSX: UUU JSE: UUU

11 Production Attributable U 3 O 8 Production (1) M lbs U 3 O Forecast production Actual production F 2013F Notes: 1. Includes commercial production and production during commissioning 11 TSX: UUU JSE: UUU

12 U1 is the Lowest Cost Producer $ Analyst Cash Cost Forecast (US$/lb) $33 $29 $25 $18 Denison Paladin ERA Cameco Uranium One Note: Cash cost shows 2012 median street consensus estimates as of January 10, TSX: UUU JSE: UUU

13 8-Nov Nov-10 6-Dec Dec-10 3-Jan Jan Jan Feb Feb Mar Mar Apr Apr-11 9-May May-11 6-Jun Jun-11 4-Jul Jul-11 1-Aug Aug Aug Sep Sep Oct Oct-11 7-Nov Nov-11 5-Dec Dec-11 2-Jan-12 Market Related Pricing Approximately 90% of utility contracts and off-take agreements are market price at time of delivery 12 Month U 3 O 8 Price History $75 $70 $ per lb U 3 O 8 $65 $60 $55 Spot Price Long Term Price $50 $45 $40 Source: Ux Consulting, Bloomberg 13 TSX: UUU JSE: UUU

14 Sales Levels 2011 sales of 9.9 M lbs 2012 sales guidance of 11.0 M lbs 2013 sales guidance of 12.5 M lbs Millions of lbs U 3 O Attributable U 3 O 8 Sales Volumes Q Q Q Q Q Q Q Q Q Q Q Q Q Q Rolling sales volume for previous 12 months Quarterly sales volume 14 TSX: UUU JSE: UUU

15 Development Projects

16 Mantra Resources High Quality Low Cost Development Project in Tanzania Uranium One s 51% shareholder ARMZ acquired 100% interest in the Mkuju River Project by acquiring Mantra Resources Ltd in June 2011 Located in an attractive jurisdiction for mining Uranium One is operator of the Mkuju River Project Revised transaction valued Mantra at approximately US$1.04 billion ARMZ and Uranium One have entered into an Amended and Restated Put/Call Agreement allowing Uranium One to acquire Mantra Uranium One has elected to pay US$150M to ARMZ which both extends the term of the option by one year to June 2013 and results in Uranium One acquiring a 13.9% stake in Mantra ARMZ has a put option to sell Mantra to Uranium One at the end of the applicable term For either the call or put option to be exercised, Uranium One minority shareholder approval will be required The total purchase price to be paid upon exercise of either the put or call option will be equal to ARMZ s acquisition cost of Mantra, including any additional expenditures and accrued interest of 2.65% per annum 16 TSX: UUU JSE: UUU

17 Mkuju River Project Updated Resource Estimate 39% increase in Measured Resources to 55.3 M lbs U 3 O 8 48% increase in Indicated Resources to 38.0 M lbs U 3 O 8 Inferred Resources of 26.1 M lbs U 3 O 8 87% or 81.2 million pounds U 3 O 8 of the Measured and Indicated resources are within 60 metres of surface (91% of Measured Resources and 82% of Indicated Resources) Tonnes (millions) Mkuju River Resources as of September 27, 2011 Grade (ppm U 3 O 8 ) Contained U 3 O 8 (M lbs) Measured Resource Indicated Resource Total Measured & Indicated Inferred Resource Notes: 1. The above technical and scientific information concerning the Mkuju River Project is derived from the Company s press release dated November 3, The above information is based on information compiled by Qualified Persons (as defined under National Instrument ) and is also based on assumptions, qualifications and procedures which are set out in such press release. For a complete description of the assumptions, qualifications and procedures associated with the above information, reference should be made to the full text of the press release which is available for review on SEDAR at 2. Reported at a cut-off grade of 100 ppm U 3 O 8 3. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding 17 TSX: UUU JSE: UUU

18 Mkuju River Project Mantra Definitive Feasibility Study (1) : Initial life of mine 12 years Annual production of 4.2 M lbs Life of mine average cash cost $22/lb U 3 O 8 Capital expenditures of US$430M Upside to Definitive Feasibility Study: Strong potential to increase production beyond 4.2 M lbs per year Growth via heap leaching being investigated Uranium One is scheduled to complete a revised feasibility study by the end of H Large land package; excellent exploration potential Note: 1. Mantra Resources News Release; May 6, TSX: UUU JSE: UUU

19 Attractive Production Profile CORPORATE PRESENTATION JANUARY 2011 Attributable U 3 O 8 Production to 26 Mkuju River 4.2 to 5.7 U.S. 2 to Zarechnoye 2.0 Akbastau 3.9 Karatau 2.6 Existing Operations Kharasan 2.3 South Inkai Akdala F 2013F Steady State Notes: Steady state assumed to begin once South Inkai, Kharasan, Karatau, Akbastau, and Mkuju River ramp-ups have been completed 19 TSX: UUU JSE: UUU

20 Conclusion

21 Attractive Investment CORPORATE PRESENTATION JANUARY 2011 Production growth Steady state production of M lbs per year Low total cash costs Leverage to uranium price Strong balance sheet Diversified asset base $19/lb (2) Focus on market-related pricing Significant uncommitted future production ~$650 M cash (3) 6 producing mines 2 development projects (4) Diversifying into Tanzania Notes: forecast production of 12.5 M lbs compared to 2010 production of 7.4 M lbs. 2. Cash costs as per U1 Guidance Cash as at December 31, Honeymoon and Powder River Basin 21 TSX: UUU JSE: UUU

22 Appendix 1 Mine by Mine Assets

Akdala Uranium Mine (70%) 2011 production of 2.0M lbs (1) 2012 guidance: Production - 1.

23 Akdala Uranium Mine (70%) 2011 production of 2.0M lbs (1) 2012 guidance: Production M lbs (1) Cash cost per pound sold - $16 Capex - $19 M (1) Satellite plant to be completed during 2012 Pump House at Akdala Q Q Q Production (lbs) (1) 496, , ,500 Sales (lbs) (1) 728, ,200 73,400 Inventory at End of Period (lbs) (1) 936,800 1,173, ,000 Operating Expenses (per lb sold) $13 $14 $13 Note: 1. Attributable to Uranium One Inc. 23 TSX: UUU JSE: UUU

24 South Inkai Uranium Mine (70%) 2011 production of 2.8 M lbs (1) 2012 guidance: Production 3.4 M lbs (1) Cash cost per pound sold - $20 Capex - $36 M (1) South Inkai production facilities Q Q Q Production (lbs) (1) 690, , ,800 Sales (lbs) (1) 666, , ,100 Inventory at End of Period (lbs) (1) 1,162,000 1,138,100 1,245,400 Operating Expenses (per lb sold) $19 $17 $17 Note: 1. Attributable to Uranium One Inc. 24 TSX: UUU JSE: UUU

25 Karatau Uranium Mine (50%) 2011 production of 2.8 M lbs (1) 2012 guidance: Production 2.6 M lbs (1) Cash cost per pound sold - $13 Capex - $26 M (1) Karatau Well Fields (view from processing plant) Q Q Q Production (lbs) (1) 691, , ,000 Sales (lbs) (1) 1,084, , ,400 Inventory at End of Period (lbs) (1) 551, , ,200 Operating Expenses (per lb sold) $8 $8 $9 Note: 1. Attributable to Uranium One Inc. 25 TSX: UUU JSE: UUU

26 Akbastau Uranium Mine (50%) 2011 production of 1.4 M lbs (1) 2012 guidance: Production 1.5 M lbs (1) Cash cost per pound sold - $18 Capex - $57 M (1) Akbastau Karatau building to process Akbastau Flow Q Q Q Production (lbs) (1) 261, , ,900 Sales (lbs) (1) 303, , ,600 Inventory at End of Period (lbs) (1) 382, , ,800 Operating Expenses (per lb sold) $13 $11 $13 Notes: 1. Attributable to Uranium One Inc 26 TSX: UUU JSE: UUU

Zarechnoye Uranium Mine (49.67%) 2011 production of 0.9 M lbs (1) 2012 guidance: Production 1.1 M lbs (1) Cash cost per pound sold - $22 Capex - $21 M (1) Notes: 1. Attributable to Uranium One Inc 2.

27 Zarechnoye Uranium Mine (49.67%) 2011 production of 0.9 M lbs (1) 2012 guidance: Production 1.1 M lbs (1) Cash cost per pound sold - $22 Capex - $21 M (1) Notes: 1. Attributable to Uranium One Inc 2. Attributable values since the acquisition date of December 27, 2010 Zarechnoye Mining Blocks Q Q Q Production (lbs) (1) 211, , ,000 Sales (lbs) (1) 302, , ,100 Inventory at End of Period (lbs) (1) 109, , ,000 Operating Expenses (per lb sold) $21 $20 $17 27 TSX: UUU JSE: UUU

28 Kharasan Uranium Project (30%) 2011 production of 0.2 M lbs (1) 2012 guidance: Production 0.4 M lbs (1) Capex - $20 M (1) Processing facilities at Kharasan Notes: 1. Attributable to Uranium One Inc Kharasan Mining Blocks 28 TSX: UUU JSE: UUU

29 Honeymoon Project, Australia (51%) Design capacity of 880,000 lbs per year on a 100% basis 2011 production of 51,000 lbs (1) 2012 guidance: Production 0.3 M lbs (1) Cash cost per pound sold - $47 Capex - $13 M (1) Honeymoon Precipitation and Thickening Circuits Note: 1. Attributable to Uranium One Inc. 29 TSX: UUU JSE: UUU

30 Powder River Basin, Wyoming 2011 production of 0.21 M lbs 2012 guidance: Production 0.5 M lbs Cash cost per pound sold - $30 Capex - $33 M Irigaray Central Processing Facility Christensen Ranch Wellfield 30 TSX: UUU JSE: UUU

31 Appendix 2 Recent Financial and Operating Highlights

32 Financial Highlights Highlights: Figures in USD millions, unless otherwise indicated Q Q1-Q Attributable sales (lbs) 3,086,500 6,720,200 Average sales price ($ per lb) Average cash cost ($ per lb sold) Revenue Operating expenses Depreciation and depletion Earnings from mine operations Net earnings Net earnings per share Adjusted net earnings Adjusted net earnings per share $ TSX: UUU JSE: UUU

33 Appendix 3 Reserves and Resources Summary

34 Reserves and Resources Summary* Ore (Tonnes) Grade (% U) Tonnes U Ore (Tonnes) Grade (% U) Tonnes U AKDALA (as at Mar. 31, 2010) SOUTH INKAI (as at Dec. 31, 2009) Reserves (1) 100% 100% 70% *** Reserves (3) 100% 100% 70% *** Proven 8,968, ,228 2,960 Proven 6,100, Probable 1,682, Probable 33,200, ,500 8,750 Proven + Probable 10,650, ,972 3,480 Proven + Probable 39,300, ,040 9,128 Resources (2) Measured 8,968, ,112 3,578 Resources (4) Measured 6,100, Indicated 1,682, Indicated 33,200, ,500 8,750 Measured + Indicated 10,650, ,939 4,157 Measured + Indicated 39,300, ,040 9,128 Inferred 9,683, ,016 4,211 Inferred 42,800, ,100 11,970 KARATAU (as at Dec. 31, 2009) Reserves (5) 100% 100% 50% *** KHARASAN (as at March 20, 2006) Resources (7) 100% 100% 30% *** Probable 12,542, ,280 5,640 Indicated 2,635, ,300 1,590 Resources (6) Inferred 30,531, ,050 8,715 Indicated 12,542, ,535 6,268 ZARECHNOYE (as at Apr. 30, 2010) Inferred 5,379, ,651 1,826 Reserves (9) 100% 100% 50% *** AKBASTAU (as at Apr. 30, 2010) Probable 19,250, ,094 5,014 Resources (8) 100% 100% 50% *** Resources (10) Indicated 11,988, ,737 5,369 Indicated 19,200, ,618 6,267 Inferred 26,494, ,547 12,274 Inferred 7,700, ,934 1,954 HONEYMOON (as at May 17, 2006) MKUJU RIVER (as at Sep. 27, 2011) **** Resources (11) 100% 100% 51% *** Resources (12) 100% 100% 100% Indicated 1,200, ,500 1,275 Measured 80,139, ,271 21,271 Indicated 59,232, ,617 14,617 Measured + Indicated 139,371, ,888 35,888 Inferred 42,585, ,039 10,039 * Mineral resources that are not mineral reserves do not have demonstrated economic viability. ** All figures are subject to rounding and columns may not add up due to rounding. All mineral resources and mineral reserves are based on CIM Standards. *** Represents the portion of total reserves and/or resources notionally attributable to Uranium One s equity interest in the joint venture through which the property is owned in the percentage indicated in this column. **** Pending exercise of Uranium One s option to acquire Mantra Resources Ltd. (which owns this property) from ARMZ. For Notes 1-12 please refer to p TSX: UUU JSE: UUU

35 Reserves and Resources - Notes Notes to slide 34: 1. Mineral reserve estimate from the Akdala Report, as subsequently updated and revised by James W. Hendry, P. Eng. of Roscoe Postle Associates Inc., now Scott Wilson Roscoe Postle Associates Inc. ( RPA ) to take into consideration loss of mineral reserves due to production during the period July 1, 2005 to March 31, 2010, and any increase in mineral reserves due to the conversion of resources to reserves as the result of production drilling. Mineral reserves are based on 0.04 m% (grade x thickness) cut-off per hole and 0.10 m% per resource block. RPA is of the opinion that the classification of mineral reserves as reported above meets the definitions of proven and probable mineral reserves as stated by NI and defined by the CIM Standards. This mineral reserve estimate does not take into account production since March 31, Proven mineral reserves include 90% of the pre-production measured mineral resources minus historical production. Probable mineral reserves include 90% of the pre-production indicated mineral resources. 2. Mineral resource estimate from the Akdala Report, including mineral reserves, as subsequently updated and revised by Wayne W. Valliant, P. Geo. of RPA to take into consideration loss of mineral reserves due to production during the period January 1, 2004 to March 31, Mineral resource estimate is based on 0.04m% (grade x thickness) cut-off per hole and 0.10 m% per resource block. RPA is of the opinion that the classification of mineral resources as reported in the table above meets the definition of measured, indicated and inferred mineral resources as stated by NI and defined by the CIM Standards. The mineral reserves stated above are included in the total estimate of mineral resources as stated above. This mineral resource estimate does not take into account production since March 31, Low grade in proven reserves is due to near-completion of mining in blocks 1 and 2. Mineral reserve estimate is based on an assumed uranium recovery of 90% and the following grade-thickness cut-offs at varying thicknesses of mineralization: 0.043m% at 5 m, m% at 7 m, and m% at 10m. 4. Low grade in measured resources is due to near-completion of mining in blocks 1 and 2. Mineral resources are inclusive of mineral reserves as reported above in the table. 5. Mineral reserves based on 90% wellfield recovery. 6. Mineral resources based on 0.04 m% (grade x thickness) cut-off per hole and 0.10 m% per resource block. Indicated mineral resources include 100% of C1 resources and 50% of C2 resources. Mineral resources based on CIM Standards. Mineral resources are inclusive of mineral reserves. 7. Mineral resource estimate from the Kharasan Report. RPA is of the opinion that the classification of indicated and inferred mineral resources as reported above meets the definitions as stated by NI and defined by the CIM Standards. RPA did not collect any independent samples as no core was available from the property and the mineralization occurs at depth. RPA has reviewed drill logs, cross sections, plan maps and electric logs for the Kharasan geologic database. The geologic database was originally developed under the guidelines of the Ministry of Geology of the former USSR and more recently by the State Commission for Mineral Resources of the Republic of Kazakhstan. 8. Mineral resources based on 0.04 m% (grade x thickness) cut-off per hole and 0.13 m% per resource block. Mineral resources account for the depletion of U during the pilot leach test. Mineral resources were estimated by Volkovgeologia using the CIS system effective July 1, Mineral resources were reviewed by RPA and re-classified as per the CIM Standards. 9. Mineral reserves estimated using 80% extraction of mineral resources. Mineral reserves based on 0.04 m% (grade x thickness) cut-off per hole and 0.01 m% per resource block. Based on a U 3 O 8 price of US$50.00 per pound. Mineral reserves account for depletion due to pilot leach test and production to date. 10. Mineral resources are based on 0.08 m% (grade x thickness) cut-off per hole and 0.01 m% per resource block. The mineral reserves stated below are included in the total estimate of mineral resources as stated above. Maximum thickness of barren material between mineralized layers included in a resource block is 5 m. Minimum average grade of a block is 0.010% eu. Minimum size of a mineralized block is 40,000 m 2. Maximum size of a mineralized block is 300,000 m Resources have been estimated by K.F. Bampton, MAusIMM, MAIG of Ore Reserve Estimation Services as at May 17, Reported at a cut-off grade of 100 ppm U 3 O 8. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding. The resource estimate has been prepared by independent consultants CSA Global Pty Ltd ( CSA ) under the supervision of Qualified Person Mr. Malcolm Titley and is reported in accordance with the Canadian National Instrument TSX: UUU JSE: UUU

36 Appendix 4 Uranium Industry Overview

Uranium Industry Overview CORPORATE PRESENTATION JANUARY 2011 Production by Mining Method In Situ Recovery 41% 2010 Global Production Uzbekistan 4% Russia 7% Niger 8%

6 KazAtomProm 8,116 21.1 Rio Tinto 6,293 16.4 ARMZ 4,311 11.2 Uranium One 2,855 7.4 Navoi 2,400 6.2 BHP Billiton 2,330 6.1 Paladin 2,089 5.4 Sopamin 1,450 3.

37 Uranium Industry Overview CORPORATE PRESENTATION JANUARY 2011 Production by Mining Method In Situ Recovery 41% 2010 Global Production Uzbekistan 4% Russia 7% Niger 8% Namibia 8% USA 3% By-product 6% Australia 11% Kazakhstan 33% Canada 18% Other 7% Conventional 53% Top 10 Producers 2010 tu M Lbs U3O8 Cameco 8, Areva 8, KazAtomProm 8, Rio Tinto 6, ARMZ 4, Uranium One 2, Navoi 2, BHP Billiton 2, Paladin 2, Sopamin 1, Others 6, Percentage of Total Nuclear Power Generation China 3% Canada 3% Russia 6% Japan 11% Other 13% USA 31% Europe 34% 37 TSX: UUU JSE: UUU

News Release. Uranium One Announces Record Revenue of $530 Million and Total Cash Costs of $14 per Pound for 2011

News Release. Uranium One Announces Record Revenue of $530 Million and Total Cash Costs of $14 per Pound for 2011 News Release March 5, 2012 Uranium One Announces Record Revenue of $530 Million and Total Cash Costs of $14 per Pound for 2011 Toronto, Canada Uranium One Inc. ( Uranium One ) today reported record revenue