Cash Offer for UraMin Inc

RNS Number:3290B
Galahad Gold Plc
01 August 2007



                                Galahad Gold plc

                                   (Galahad)



                           Cash offer for UraMin Inc



The following is the text of an announcement by AREVA on the 31st July 2007, in
relation to the offer by CFMM Developpement (CFMM), a wholly owned subsidiary of
AREVA, to purchase all of the issued and outstanding shares of UraMin:



AREVA announces it has taken over control of the mining company UraMin. At the
expiry of the friendly offer launched on June 25, 2007 the shares tendered to
its offer allow AREVA to hold approximately 92.93% of the UraMin share capital*.



* on a fully diluted basis



The following is the text of an announcement by UraMin Inc. on the 31st July
2007, in relation to  a Declaration of Dividend relating to Shares of Niger
Uranium Limited as envisaged by the terms of the offer by CFMM Developpement:



UraMin has declared a dividend of 0.0985388 shares in the capital of Niger
Uranium Limited (Niger Shares) or cash (in United States dollars) in lieu
thereof, per UraMin ordinary share.



The dividend is payable to shareholders of record at the earlier of 5:00PM (EST)
on July 31, 2007 and immediately before CFMM Developpement (a wholly-owned
subsidiary of Compagnie Francaise de Mines et Metaux S.A) takes up and pays for
UraMin shares tendered under its takeover bid. All UraMin shareholders will be
entitled to the dividend whether or not they have tendered their shares to the
takeover bid. CFMM Developpement will not be involved in the payment of the
dividend.



In accordance with the resolution of the EGM held on 18 July 2007, Galahad has
accepted the offer in respect of 20,266,666 UraMin shares. Galahad has also
accepted the offer in respect 500,000 shares resulting from the exercise of the
option registered in the name of Ian Watson but held for the benefit of Galahad.




Under the terms of the offer cash consideration of US$160.7m (#79.4m) is payable
to Galahad within 3 business days of the shares being taken up by CFMM.



Galahad's pre-tax profit on the disposal of its holding in UraMin is
approximately #75.7m.



For further information please contact:

GALAHAD GOLD PLC                                [phone]
Ian Watson


DRESDNER KLEINWORT                             [phone]
Chris Treneman



PARKGREEN COMMUNICATIONS                        [phone]
Simon Robinson / Louise Goodeve


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