UraMin Completes Private Placement

On March 19, 2007, UraMin Inc. completed a private placement of 52 million ordinary shares at a price of £2.25 per share for gross proceeds of £117 million (approximately C$266 million). The syndicate of agents was led by BMO Capital Markets and included Canaccord Adams Limited and Sprott Securities Inc. The offering was undertaken primarily to finance the development of UraMin's Trekkopje uranium project in Namibia to commercial production.

UraMin, based in South Africa, is an emerging uranium company principally focused on projects in Africa.

Heenan Blaikie LLP represented UraMin, with a team that included Steve Vaughan, James McVicar and Brett Seifred. David Smith of Fasken Martineau Stringer Saul LLP acted as UK Counsel to UraMin and David Dutil of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo acted as US counsel.

Stikeman Elliott LLP represented the agents with a team that included Quentin Markin and Rhoda Aylward. White & Case LLP acted as UK and US counsel to the agents with a team that included Allan Taylor in the UK and Kevin Keogh and Martin Glass in the US.

Lawyer(s)

Quentin Markin Brett Seifred James G. McVicar Steve Vaughan Rhoda Aylward

Firm(s)

Fasken Martineau DuMoulin LLP Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. Stikeman Elliott LLP White & Case LLP