First Uranium Shareholders Approve Arrangement with Algold Resources Ltd.

TORONTO, Dec. 13, 2013 /CNW/ - First Uranium Corporation ("FIU" or the "Corporation") (NEX:FIU.H) is pleased to announce that at the annual and special meeting (the "Meeting") of holders of units of FIU (the "Shareholders") held today, the Shareholders approved the previously announced plan of arrangement (the "Arrangement") whereby Algold Resources Ltd. ("Algold") will acquire all of the outstanding units of FIU ("FIU Units"). The resolution approving the Arrangement was approved by approximately 95% of the votes cast by Shareholders present in person or represented by proxy at the meeting.

The Arrangement remains subject to, among other things, the final approval of the Ontario Superior Court of Justice. The hearing for the final court order to approve the Arrangement is scheduled to take place on December 16, 2013, with the effective date of the Arrangement expected to occur on or about December 19, 2013.

In addition, the Corporation is pleased to announce that the following matters presented for approval at the Meeting were duly authorized and approved by Shareholders: the election of all management nominees to the board of directors of the Corporation, the appointment of PricewaterhouseCoopers Inc. as the auditors of the Corporation for the ensuing year and the authorization of the directors to fix the remuneration of the auditors.

Further details on the above matters are set forth in the management information circular of FIU dated November 8, 2013 and in the report on voting results of the Meeting, each accessible on the Corporation's SEDAR corporate profile page at www.sedar.com.

Cautionary Statement Regarding Forward-Looking Information

This news release contains and refers to forward‐looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward looking statements (or forward‐looking information). The Corporation's plans involve various estimates and assumptions and its business is subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Corporation's the management information circular dated November 8, 2013, and the most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. These forward looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements that are included herein, except in accordance with applicable securities laws.

SOURCE First Uranium Corporation