Simmer & Jack Mines completes US$90 million secondary offering of shares of First Uranium

On March 9, 2009, Simmer & Jack Mines, Limited ("Simmers") completed a secondary offering of 19,600,000 common shares of First Uranium Corporation ("First Uranium") at a price of $4.60 per common share for gross proceeds of $90,160,000 to Simmers. First Uranium did not receive any of the proceeds of the secondary offering. The secondary offering was made through a syndicate of underwriters led by RBC Capital Markets and including Scotia Capital Inc., National Bank Financial Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. Simmers has granted to the underwriters, an over-allotment option, exercisable for a period of 30 days from the closing of the secondary offering to purchase an additional 2,940,000 common shares of First Uranium on the same terms as the secondary offering. Simmers intends to use the net proceeds from the secondary offering to fund, in part, the acquisition of the Tau Lekoa Mine from Anglogold Ashanti Limited. Fasken Martineau acted as Canadian counsel to Simmers and First Uranium with a team that included Robert Mason and Amanda Fullerton (corporate and securities) and Mitchell Thaw (tax).