RE: Voting default Just thought it was time to remind everyone of First Uranium's own words about the votes. This was culled from that infamous new release back in early March announcing the asset sales.
Each of the AGA Transaction and the Gold One Transaction will be considered separately by
shareholders of the Company at a Special Meeting which the Company anticipates will be held in mid
May, 2012. In relation to the approval of the AGA Transaction, the Company has been advised that the
AGA Transaction will be considered a “related party transaction” under Multilateral Instrument 61-101,
as a result of the ownership by AGA of 19.8% of the common shares of the Company. Accordingly the
Company engaged Paradigm Capital Inc. to provide a formal valuation of MWS and its related entities, a
copy of which will be included in the Information Circular to be sent to shareholders. In order to
approve the AGA Transaction 66-2/3% of the votes cast by shareholders of the Company and 50.1% of
the votes cast by shareholders other than AGA and certain other related parties are required. With
respect to the Gold One Transaction approval is required from 66-2/3% of the votes cast by
shareholders at the meeting.