Date Closed

July 22, 2011

Lead Office

Toronto

Value

28.20 Million CAD

On July 22, 2011, Village Main Reef sold ownership of 47,065,916 common shares of First Uranium, representing a 19.8% interest in First Uranium, for C$0.60 per share, representing aggregate consideration of approximately C$28.2 million, in cash. The First Uranium shares sold by Village Main Reef were originally acquired in a transaction completed on June 27, 2011 that saw Village Main Reef acquire substantially all of the assets of Simmer and Jack Mines, Limited, including a 100% interest in three gold mines in South Africa (the Buffelsfontein, Hartebeestfontein and Tau Lekoa gold mines), 25.5% of the common shares of First Uranium, and certain convertible notes of Mine Waste Solutions (Proprietary) Limited, a wholly-owned subsidiary of First Uranium, which are convertible into additional common shares of First Uranium. Village Main Reef has granted lock-up rights and rights of first refusal to AngloGold Ashanti for its remaining securities of First Uranium; its remaining 5.7% of the shares of First Uranium, together with the common shares issuable upon conversion of the convertible notes, would represent approximately 19.9% of the then outstanding shares of First Uranium.

McCarthy Tétrault LLP represented Village Main Reef, as seller, with a team led by Brian Graves.