Acquisition

RNS Number:5459B
UraMin Inc
03 August 2007


3 August 2007


                                  UraMin Inc.

                          ("UraMin" or "the Company")





ACQUISITION OF URAMIN: REMAINING SHARES TO BE REDEEMED, AND CANCELLATION OF AIM
                                    LISTING


Further to the announcement on 15 June 2007 regarding AREVA's offer (the
"Offer") through its indirect wholly-owned subsidiary CFMM Developpement to
acquire all of the issued and outstanding ordinary share capital (the "Shares")
 of UraMin Inc ("UraMin" or "the Company") (TSX/AIM: UMN), AREVA announced on 31
July 2007 that, as at 5:00 p.m. (Toronto time) on 30 July 2007, the expiry time
of the Offer, valid acceptances have been received in respect of approximately
92.93 per cent of the issued share capital of UraMin.

As AREVA has acquired over 90% of the Shares, in accordance with the laws of the
British Virgin Islands, AREVA announces that it has today issued a notice to
UraMin requiring UraMin to redeem the remaining Shares not held by AREVA (the
"Minority Shares").  UraMin will send a notice of the redemption to the
remaining shareholders shortly.  Following the completion of the redemption
procedure, which is expected to occur on 20 August 2007, AREVA will be the sole
shareholder of UraMin.

The Company has submitted a request to the Alternative Investment Market of the
London Stock Exchange ("AIM") for the cancellation of the trading of shares in
UraMin.  Such cancellation is subject to a minimum 20 business day notice
period. The last day of trading in UraMin Shares on AIM is expected to be 3
September 2007.

It is expected that UraMin will also request that its Shares be delisted from
trading on the Toronto Stock Exchange immediately after the redemption of the
Minority Shares has been completed.





Further Information:

AREVA
Frederic Potelle
Tel: [phone]

UraMin Inc
Neil Herbert
Tel: [phone]

Canaccord Adams Limited (Nominated Adviser to UraMin Inc)
Robin Birchall
Tel: [phone]



Forward Looking Statements:



This announcement may include forward-looking statements.  All statements other
than statements of historical fact included in this announcement, including
without limitation those regarding plans, objectives and expected performance,
are forward-looking statements.  These forward-looking statements are based on
current expectations and projections about future events, including numerous
assumptions regarding present and future business strategies, operations, and
the environment in which the business will operate in the future.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as 'ambition', 'may', 'will', 'could', 'would',
'expect', 'intend', 'estimate', 'anticipate', 'believe', 'plan', 'seek' or
'continue', or negative forms or variations of similar terminology.  Such
forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors.  By their nature, forward-looking statements
involve risks, uncertainties and assumptions, such as future market conditions
and the behaviour of other market participants, which may cause the actual
results, performance or achievements of UraMin to differ materially from any
future results, performance or achievements expressed or implied by the forward
looking statements.  Given these risks, uncertainties, and assumptions, you are
cautioned not to put undue reliance on any forward-looking statements.  In
addition, the inclusion of such forward-looking statements should under no
circumstances be regarded as a representation that any results set out in such
statements will be achieved or that the underlying assumptions used will in fact
be the case.  Other than as required by applicable law or the applicable rules
of relevant exchanges, AREVA has no intention or obligation to update or revise
any forward-looking statements included in this announcement after the release
of this announcement.





END


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