First Uranium Corporation released an update on the shaft moiling program and the re-commissioning of the uranium plant at the Ezulwini Mine, as well as a progress report on the Phase 2 expansion project at Mine Waste Solutions.

In addition, the Company has provided production results for the quarter ended March 31, 2011.

First Uranium President and CEO, Deon van der Mescht, commented, “This is the first opportunity I have had to report to shareholders since the decimation of uranium-related stock price globally following the tragic events in Japan. While First Uranium derives most of its near-term revenue from gold and fared better than most, we certainly did not escape the value erosion that occurred. Nevertheless, we have made good progress at the various projects: the Ezulwini Mine’s uranium plant is in the final stages of its re-commissioning, which will enable us to return to uranium production.

“The Ezulwini shaft maintenance program has progressed well and is currently ahead of schedule. The capital projects at MWS have advanced well over the last eight months to the extent that the commissioning of the Phase 2 expansion program has commenced one month ahead of schedule. The Phase 2 reclamation station has delivered ore into the third gold plant module, water commissioning of the tailings delivery pipelines from the plant to the new tailings storage facility is currently underway with deposition onto the TSF anticipated shortly”.

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