Private Placement

RNS Number:7941X
UraMin Inc
05 June 2007



   NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
                                 UNITED STATES


                URAMIN AND NORTHWESTERN JOINT VENTURE ANNOUNCES
                        US$19 MILLION PRIVATE PLACEMENT


June 5, 2007 - UraMin Inc. (TSX: UMN; AIM: UMN) and Northwestern Mineral
Ventures Inc. (TSX-V: NWT) and are pleased to announce that the joint venture
company they have agreed to form has entered into an agreement with Haywood
Securities (UK) Limited for a private placement to raise gross proceeds of US$19
million.  The proceeds of this private placement will be used to fund the
activities of the joint venture company, which will advance eight highly
prospective uranium concessions in Niger, as detailed in press releases dated
June 4, 2007.  At closing, the joint venture company will have a treasury in
excess of US$30 million.

The private placees will acquire a total of 23% of the joint venture company,
while Northwestern and UraMin will each maintain a 38.5% interest.  The
formation of the joint venture company remains subject to the receipt of all
regulatory approvals, including the approval of the TSX Venture Exchange.

At closing, Haywood Securities (UK) Ltd. will be paid a 6% cash commission on
gross proceeds.  Haywood will also be granted broker warrants equivalent to 6%
of the private placement financing at the private placement price.  These
warrants will expire 24 months from the closing date.


ABOUT NORTHWESTERN:

Northwestern Mineral Ventures (www.northwestmineral.com) is an international
resource exploration company with an experienced management team.  The company
is focused on properties in Niger and Canada with potential uranium targets.
Northwestern also has a precious and base metal property in Mexico.
Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and
the TSX Venture Exchange under the symbol "NWT."


ABOUT URAMIN:

UraMin (www.uramin.com) was established in 2005 to acquire and develop mineral
properties, predominantly uranium. UraMin is focused on advancing its 100%-owned
Trekkopje uranium project in Namibia to the completed Definitive Feasibility
Study ("feasibility study") stage. A trial mine is planned for the fourth
quarter of 2007 and commercial production is planned for late 2008.  The Company
also has a feasibility study underway at its 90% owned Bakouma uranium project
in the Central African Republic and on its 74%-owned Ryst Kuil uranium project
in South Africa. SRK is the lead consultant for the Ryst Kuil Project.

UraMin intends to bring these near surface open pitable projects into
production, utilizing efficient mining and processing methods currently in
practice worldwide in similar deposits in a cost effective manner.

UraMin also has a number of exploration projects in both Africa (Chad, Niger,
Senegal and Mozambique) and joint venture projects in Canada (the Rea Project
within the Athabasca Basin in Alberta and the Labrador Project in Quebec) on
which it is advancing exploration programs that could provide a pipeline of
potentially economic uranium projects for the future.


FURTHER INFORMATION:

UraMin Inc
Ian Stalker Chief Executive Officer
Neil Herbert, Finance Director
Tel: [phone]

Nominated Advisor
Canaccord Adams Limited
Robin Birchall
Tyler Broda
Tel: [phone]

Toronto
Steve Vaughan
Tel: [phone]

Northwestern Mineral Ventures Inc
Marek J. Kreczmer, M.Sc., P.Eng.
President and CEO
[phone]
[e-mail]


The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.

This news release includes certain "forward looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
Without limitation, statements regarding potential mineralization and resources,
exploration results, and future plans and objectives of either Northwestern or
UraMin are forward looking statements that involve various degrees of risk.  The
following are important factors that could cause the actual results to differ
materially from those expressed or implied by such forward looking statements:
changes in the worldwide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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