Board Changes

RNS Number:5446B
UraMin Inc
03 August 2007


3 August 2007
                                  UraMin Inc.
                          ("UraMin" or "the Company")


                                 BOARD CHANGES


Further to the successful US$7.75 per share offer by AREVA (through its indirect
wholly-owned subsidiary CFMM Developpement) for the outstanding ordinary shares
of UraMin Inc ("UraMin" or "the Company") (TSX/AIM: UMN), the Company today
announces a restructuring of its board and management.

The following members of the board of the Company (the "Board") have resigned
from the Board with immediate effect:
     
*    Mr Francis Daniels (Non-Executive Director)
*    Mr James Mellon (Non-Executive Director)
*    Mr Ian Watson (Non-Executive Director)
*    Mr Stephen Dattels (Executive Deputy Chairman)
*    Mr John (Ian) Stalker (Chief Executive Officer)
*    Mr James Pitman (Corporate Affairs and New Business Development)
*    Mr Neil Herbert (Finance Director)


Mr Samuel Jonah KBE has also resigned as Chairman of the Board with immediate
effect.  However, he and Mr Graham Mascall, both currently Non-Executive
Directors of the Company, will remain on the Board.  Mr Neil Herbert will
continue to be UraMin's Company Secretary going forward.

In addition, the Board has appointed the following individuals as Executive
Directors of the Company:
     
*    Mr Frederic Bernard Tona (aged 59).  Mr Frederic Tona was the Senior 
     Executive Vice President of the Mining, Chemistry and Enrichment sector at 
     AREVA until 2004.  Mr Tona has been appointed Chairman of the Board
     following the resignation of Mr Samuel Jonah KBE as Chairman.

*    Mr Serge Lafont (aged 48).  Mr Serge Lafont holds a doctorate degree in 
     physics from Ecole Normale Superieure, Paris, and is currently the chief 
     representative of AREVA in South Africa.

*    Mr Daniel Wouters (aged 54).  Mr Daniel Wouters holds masters degrees in 
     law and business administration, and has experience in mining finance.  
     Mr Wouters is currently the Vice President in the area of mining
     business development at AREVA.

*    Mr Sebastien Bernard de Montessus de Ballore (aged 32). Mr Sebastien 
     Bernard de Montessus de Ballore holds a masters degree in business
     administration, and is currently the Executive Vice President of the Mining
     Business at AREVA.  Mr Bernard de Montessus de Ballore has been appointed 
     as UraMin's new Chief Executive Officer.

In accordance with Schedule 2(g) of the AIM Rules, the following information in
relation to the appointment of Mr Frederic Bernard Tona, Mr Serge Lafont, Mr
Daniel Wouters and Mr Sebastien Bernard de Montessus de Ballore is disclosed:


Mr Frederic Bernard Tona


Current directorships:
     
*    ERAMET SA
*    OSEAD SAS


Directorships held in the past five years:
     
*    Compagnie Francaise de Mokta SA
*    COMINOR SA
*    Societe des Mines de Jouac
*    Compagnie francaise de Mines et Metaux
*    COMURHEX SA
*    EURODIF SA
*    SOFIDIF SA
*    EURODIF PRO
*    SGN
*    SOMAIR
*    COMINAK
*    Urangesellschaft
*    COMIN
*    Pathfinder Mines Co
*    COGEMA Inc
*    COGEMA
*    COGEMA RESOURCES Inc
*    McCLEAN URANIUM Ltd
*    McCLEAN LAKE JV


Mr Serge Lafont


Current directorships:
     
*    ARESCA
*    FRAMEX


Mr Daniel Wouters (no information falling to be disclosed under Schedule 2(g) of
the AIM Rules)

Mr Sebastien Bernard de Montessus de Ballore


Directorships held in the past five years:
     
*    OFYE


Save for the information disclosed above there is no other information falling
to be disclosed under Schedule 2(g) of the AIM Rules.


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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