Uranium One owns a 13.9% interest in the Mkuju River project in Tanzania, with an option to acquire the remaining 86%. An updated resource estimate shows a 39% increase in measured resources to 55.3 million pounds U3O8. Mantra's definitive feasibility study outlines an initial 12 year mine life producing 4.2 million pounds of U3O8 annually at an average cash cost of $22 per pound. Uranium One sees potential to increase production beyond 4.2 million pounds per year through expansion and heap leaching. The large land package also provides excellent exploration potential.

1. Creating a Globally Diversified
Uranium Producer
August 2012

2. Cautionary Statement
Readers are advised to refer to independent technical reports containing detailed information with respect to the material properties of Uranium One. These technical
reports are available under the profile of Uranium One Inc. at www.sedar.com and provide the date of each resource or reserve estimate, details of the key assumptions,
methods and parameters used in the estimates, details of quantity and grade or quality of each resource or reserve and a general discussion of the extent to which the
estimate may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. The technical reports also
provide information with respect to data verification in the estimation.
Scientific and technical information contained herein has been reviewed on behalf of Uranium One by Mr. M.H.G. Heyns, Pr.Sci.Nat. (SACNASP), MSAIMM, MGSSA,
Senior Vice President of Uranium One Inc., a Qualified Person for the purposes of NI 43-101.
Certain of the statements herein are forward-looking statements. Forward-looking statements include but are not limited to those with respect to the price of uranium, the
estimation of mineral resources and reserves, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for
additional capital, government regulation of mining operations, environmental risks, costs of environmental compliance including reclamation expenses, title disputes or
claims and limitations on insurance coverage and the timing and possible outcome of litigation or investigations. In certain cases, forward-looking statements can be
identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does
not anticipate”, or “believes” or variations of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of Uranium One to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Such risks and uncertainties include, among others, the completion of the projects described in this document, the future steady state production and cash costs of
Uranium One, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined,
possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks
of the mining industry, delays in obtaining government approvals or financing or in completion of development or construction activities, risks relating to the integration of
acquisitions, to international operations, to prices of uranium as well as those factors referred to in the section entitled “Risk Factors” in Uranium One’s Annual Information
Form for the year ended December 31, 2011, which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document. Although
Uranium One has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-
looking statements will prove to be accurate, as 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. Uranium One expressly disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
For further information about Uranium One, please visit www.uranium1.com.
2 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

3. Uranium Market Overview

4. Demand Growth Fueled by New Builds
Global Nuclear Power Reactor New Builds
600 Proposed 552
Number of Nuclear Power Reactors
540
Ordered or Planned 521
500
Under Construction
415
400
349 322 329
327
300
250 266
222
200
158
156 158
141
100 106
93
64
43 53 62 65
28 34
0
Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Aug-2012
Source: WNA, August 2012
4 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

5. Demand Growth Fueled by New Builds
 China, India and Russia represent over 55% of the 552 reactors in the construction, planned or proposed
categories
Nuclear Reactor New Build
(top eight countries)
China
India
Russia Under Construction Planned Proposed
USA
Saudi
Ukraine
UK
UAE
South Korea
0 20 40 60 80 100 120 140 160 180 200
Number of Reactors
Source: WNA, August 2012
5 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

6. Growth of Supply from Kazakhstan
 An estimated 70% of new global production this decade will come from Kazakhstan and Africa
 Kazakhstan targeted production for 2012 of just over 21,000 t U (55 million pounds U3O8), an increase of
approximately 7% from 2011
Primary Uranium Production by Country, 1992 – 2010
Kazakhstan
Canada
20,000
Australia
Namibia
Russia (est)
Niger
15,000
tonnes U
Uzbekistan
USA
Ukraine (est)
China (est)
10,000
South Africa
Czech Republic
5,000
0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: UxC Q4 2011 Report
6 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

7. Secondary Uranium Supply
Secondary Uranium Supply
55
50
Expiry of HEU Agreement
45
Millions of pounds U3O8
40
35
30
25
20
15
10
5
0
2008 2009 2010 2011f 2012f 2013f 2014f 2015f 2016f 2017f 2018f 2019f 2020f
Source: Ux Consulting, Q4 2011 Report
7 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

8. Overview of Uranium One

9. Global Asset Base
*
* Uranium One currently owns 13.9% of Mkuju River and has an option to acquire remaining 86% from ARMZ
9 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

10. Production
Attributable U3O8 Production(1)
14
12.5
11.6
12 10.7
10
Forecast production
M lbs U3O8
8 7.4
Actual production
6
3.6
4 2.9
2.0
2
0
2007 2008 2009 2010 2011 2012F 2013F
Notes:
1. Includes commercial production and production during commissioning
10 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

11. U1 is the Lowest Cost Producer
2012 Analyst Cash Cost Forecast (US$/lb)
$38
$34
$26
$19
ERA Paladin Cameco Uranium One
Note: Cash cost shows 2012 median street consensus estimates as of June 19, 2012
11 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

12. $ per lb U3O8
| 12 |
$40
$45
$50
$55
$60
$65
$75
$70
1-Feb-10
15-Feb-10
1-Mar-10
Source: Ux Consulting
15-Mar-10
29-Mar-10
12-Apr-10
26-Apr-10
10-May-10
24-May-10
TSX: UUU | JSE: UUU
7-Jun-10
21-Jun-10
5-Jul-10
19-Jul-10
2-Aug-10
16-Aug-10
30-Aug-10
13-Sep-10
27-Sep-10
11-Oct-10
25-Oct-10
WWW.URANIUM1.COM
8-Nov-10
22-Nov-10
6-Dec-10
20-Dec-10
3-Jan-11
17-Jan-11
31-Jan-11
14-Feb-11
28-Feb-11
Spot Price
14-Mar-11
28-Mar-11
11-Apr-11
25-Apr-11
9-May-11
23-May-11
6-Jun-11
20-Jun-11
4-Jul-11
18-Jul-11
1-Aug-11
15-Aug-11
Recent U3O8 Price History
29-Aug-11
12-Sep-11
26-Sep-11
10-Oct-11
24-Oct-11
7-Nov-11
21-Nov-11
5-Dec-11
19-Dec-11
2-Jan-12
16-Jan-12
Long Term Price
30-Jan-12
13-Feb-12
27-Feb-12
12-Mar-12
26-Mar-12
9-Apr-12
23-Apr-12
7-May-12
21-May-12
4-Jun-12
18-Jun-12
2-Jul-12
16-Jul-12
30-Jul-12
Ux Long-Term (LT) Price
Spot Ux U3O8 Price vs.CORPORATE PRESENTATION | JANUARY 2011

13. Sales Levels
 2011 sales of 9.9 M lbs
 2012 sales guidance of 11.0 M lbs
 2013 sales guidance of 12.5 M lbs
Attributable U3O8 Sales Volumes
12.0
9.9 10.0
11.0 9.6 10.1
Millions of lbs U3O8
10.0
9.0 7.8 8.2
8.0 6.9
7.0
6.0 5.5
5.0 4.2
4.0 2.8 3.2 3.1 3.2
2.5 2.9 3.1
3.0 2.1 2.0
1.5 1.5 1.7 1.7 1.8 1.9
2.0 0.9
1.0 0.4 0.4 0.8
0.0
Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012
Rolling sales volume for previous 12 months Quarterly sales volume
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14. Development Projects

15. Mkuju River Project
Option Agreement
 On March 15, 2012, the Corporation paid $150 million to acquire 13.9% of Mantra Resources and to extend its option to
acquire the remaining 86% interest in Mantra until June 7, 2013.
Updated Resource Estimate
 39% increase in Measured Resources to 55.3 M lbs U3O8, 48% increase in Indicated Resources to 38.0 M lbs U3O8
 Inferred Resources of 26.1 M lbs U3O8
 87% or 81.2 million pounds U3O8 of the Measured and Indicated resources are within 60 metres of surface (91% of
Measured Resources and 82% of Indicated Resources)
Mkuju River Resources as of September 27, 2011
Tonnes Grade Contained U3O8
(millions) (ppm U3O8) (M lbs)
Measured Resource 80.3 313 55.3
Indicated Resource 59.3 291 38.0
Total Measured & Indicated 139.6 303 93.3
Inferred Resource 42.5 278 26.1
Notes:
1. The above technical and scientific information concerning the Mkuju River Project is derived from the Company’s press release dated November 3, 2011. The above information is based on information
compiled by “Qualified Persons” (as defined under National Instrument 43-101) and is also based on assumptions, qualifications and procedures which are set out in such press release. For a complete
description of the assumptions, qualifications and procedures associated with the above information, reference should be made to the full text of the press release which is available for review on SEDAR at
www.sedar.com.
2. Reported at a cut-off grade of 100 ppm U3O8
3. All figures are rounded to reflect appropriate levels of confidence . Apparent differences may occur due to rounding
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16. Mkuju River Project
 Mantra Definitive Feasibility Study(1):
 Initial life of mine 12 years A FRI CA
 Annual production of 4.2 M lbs

TAN ZAN IA
Life of mine average cash cost $22/lb U3O8 Dodoma
 Capital expenditures of US$430M Dar es
Salaam
Makambako
 Upside to Definitive Feasibility Study: Kayelekera Songea
Mtwara
Mkuju River
 Strong potential to increase production beyond 4.2 M lbs Mbamba Bay
per year Lak e
Malawi
 Growth via heap leaching being investigated Lusaka
Victoria Falls I ndian
 Large land package; excellent exploration potential Oc ean
Bulawayo
Gabarone Pretoria
Maputo
Mkuju River
Uranium Mine/Deposit
City/Town
Durban Railway
Road
Note:
1. Mantra Resources News Release; May 6, 2011
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17. Production Growth
Attributable U3O8 Production
30
22 to 26
25 Mkuju River
4.2 to 5.7
20
Mlb U3O8
U.S. 2 to 4
Zarechnoye 2.0
15 12.5
11.6
10.7 Akbastau 3.9
Existing
Operations
10 7.4 Karatau 2.6 18 - 20
Kharasan 2.3
5 3.6
South Inkai 3.6
Akdala 1.8
0
2009 2010 2011 2012F 2013F Steady State
17 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

18. Conclusion

19. Attractive Investment
Production growth Steady state production of 22-26 M lbs per year
Low total cash costs $19/lb(1)
Focus on market-related pricing
Leverage to uranium price
Significant uncommitted future production
Strong balance sheet $460 M cash(2)
8 producing mines
Diversified asset base
Diversifying into Tanzania with development of Mkuju River
Notes:
1. Cash costs as per U1 Guidance 2012
2. Cash as at June 30. 2012
19 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

20. Appendix 1
Mine by Mine Assets

21. Akdala Uranium Mine (70%)
 2011 production of 2.0 M lbs(1)
 2012 guidance:
 Production - 1.8 M lbs(1)
 Cash cost per pound sold - $16
 Capex - $19 M(1)
 Satellite plant to be completed during 2012
Pump House at Akdala
Q2 2012 Q2 2011 FY 2011
Production (lbs)(1) 473,100 480,100 2,027,800
Sales (lbs)(1) 294,000 258,200 1,408,200
Inventory at End of Period (lbs)(1) 1,111,300 1,173,800 1,227,000
Operating Expenses (per lb sold) $13 $14 $13
Note:
1. Attributable to Uranium One Inc.
21 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

22. South Inkai Uranium Mine (70%)
 2011 production of 2.8 M lbs(1)
 2012 guidance:
 Production – 3.4 M lbs(1)
 Cash cost per pound sold - $20
 Capex - $36 M(1)
South Inkai production facilities
Q2 2012 Q2 2011 FY 2011
Production (lbs)(1) 923,700 620,700 2,817,700
Sales (lbs)(1) 273,800 726,800 3,622,400
Inventory at End of Period (lbs)(1) 1,664,100 1,138,100 693,700
Operating Expenses (per lb sold) $19 $17 $18
Note:
1. Attributable to Uranium One Inc.
22 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

23. Karatau Uranium Mine (50%)
 2011 production of 2.8 M lbs(1)
 2012 guidance:
 Production – 2.6 M lbs(1)
 Cash cost per pound sold - $13
 Capex - $26 M(1)
Karatau Well Fields (view from processing plant)
Q2 2012 Q2 2011 FY 2011
Production (lbs)(1) 623,700 568,800 2,826,800
Sales (lbs)(1) 678,500 211,900 2,569,400
Inventory at End of Period (lbs)(1) 928,500 944,000 659,900
Operating Expenses (per lb sold) $10 $8 $9
Note:
1. Attributable to Uranium One Inc.
23 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

24. Akbastau Uranium Mine (50%)
 2011 production of 1.4 M lbs(1)
 2012 guidance:
 Production – 1.5 M lbs(1)
 Cash cost per pound sold - $18
 Capex - $57 M(1)
Akbastau – Karatau building to process Akbastau Flow
Q2 2012 Q2 2011 FY 2011
Production (lbs)(1) 389,500 325,000 1,437,000
Sales (lbs)(1) 170,000 491,000 1,361,200
Inventory at End of Period (lbs)(1) 882,700 425,900 421,800
Operating Expenses (per lb sold) $11 $11 $12
Notes:
1. Attributable to Uranium One Inc
24 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

25. Zarechnoye Uranium Mine (49.67%)
 2011 production of 0.9 M lbs(1)
 2012 guidance:
 Production – 1.1 M lbs(1)
 Cash cost per pound sold - $22
 Capex - $21 M(1)
Zarechnoye Mining Blocks
Q2 2012 Q2 2011 FY 2011
Production (lbs)(1) 292,900 246,300 947,900
Sales (lbs)(1) 283,100 264,200 920,200
Inventory at End of Period (lbs)(1) 284,400 202,900 117,800
Operating Expenses (per lb sold) $23 $20 $21
Notes:
1. Attributable to Uranium One Inc
25 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

26. Kharasan Uranium Project (30%)
 Q1 2012 production of 0.1 M lbs(1)
 2012 guidance:
 Production – 0.4 M lbs(1)
 Capex - $20 M(1)
Processing facilities at Kharasan
Notes:
1. Attributable to Uranium One Inc Kharasan Mining Blocks
26 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

27. Honeymoon Project, Australia (51%)
 Design capacity of 880,000 lbs per year on a 100%
basis
 Q1 2012 production of 0.1 M lbs(1)
 2012 guidance:
 Production – 0.3 M lbs(1)
 Cash cost per pound sold - $47
 Capex - $13 M(1)
 Mitsui has notified Uranium One of its decision to
withdraw from the Honeymoon Uranium Project
 The parties are currently negotiating the terms
of Mitsui's withdrawal.
 Uranium One intends to continue with the
project
Honeymoon – Precipitation and Thickening Circuits
Note:
1. Attributable to Uranium One Inc.
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28. Powder River Basin, Wyoming (100%)
 Q1 2012 production of 0.1 M lbs
 Entered commercial production on May 1st, 2012
 2012 guidance:
 Production – 0.5 M lbs
 Cash cost per pound sold - $30
 Capex - $33 M
Irigaray Central Processing Facility
Q2 2012 (1)
Production (lbs)(1) 95,900
Sales (lbs)(1) 184,200
Inventory at End of Period (lbs)(1) 267,000
Operating Expenses (per lb sold) $36
Note:
1. Values since reaching commercial production as of May 1, 2012
Christensen Ranch Wellfield
28 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

29. Appendix 2
Recent Financial and
Operating Highlights

30. Financial Highlights
CORPORATE PRESENTATION | JANUARY 2011
Highlights: Q2 2012 Q2 2011
Figures in USD millions, unless otherwise indicated
Attributable sales (lbs) 1,883,600 1,952,100
Average sales price ($ per lb) 52 58
Average cash cost ($ per lb sold) 16 15
Revenue 96.8 112.9
Operating expenses (31.0) (28.5)
Depreciation (25.7) (22.7)
Earnings from mine operations 40.1 61.7
Net earnings 29.2 29.7
Net earnings per share 0.03 0.03
Adjusted net earnings 8.8 27.5
Adjusted net earnings per share 0.01 0.03
| 30 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

31. Financial Highlights
Highlights: 2011 2010
Figures in USD millions, unless otherwise indicated
Attributable sales (lbs) 9,881,400 6,861,600
Average sales price ($ per lb) 54 48
Average cash cost ($ per lb sold) 14 13
Revenue 530.4 326.9
Operating expenses (142.6) (91.9)
Depreciation and depletion (125.2) (96.3)
Earnings from mine operations 262.6 138.7
Net earnings 88.4 (153.7)
Net earnings per share 0.09 (0.25)
Adjusted net earnings 113.7 (3.3)
Adjusted net earnings per share 0.12 (0.01)
31 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

32. Appendix 3
2012 Capital Expenditure Guidance

33. 2012 Estimated Capital Expenditure
Mine/Project Wellfield Plant and Total Ownership % Total
Figures in USD millions, unless otherwise Development equipment and
indicated other
100% Attributable
Kazakhstan
Akdala 10 17 27 70% 19
South Inkai 30 21 51 70% 36
Karatau 26 26 52 50% 26
Akbastau 38 76 114 50% 57
Zarechnoye 28 14 42 49.67% 21
Kharasan(1) 13 54 67 30% 20
SKZ-U - 11 11 19% 2
Subtotal - Kazakhstan 145 219 364 181
Australia and United States
Honeymoon 8 17 25 51% 13
Powder River Basin 32 1 33 100% 33
Great Divide Basin - 1 1 100% 1
Other - 1 1 1
Subtotal – Australia and United States 40 20 60 48
Totals 185 239 424 229
1. Excludes sales during commissioning which will be offset against the estimated capital expenditure
33 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

34. Appendix 4
Reserves and Resources Summary

35. Proven and Probable Resource*
Assets Proven Probable Proven & Probable Company Share
Tonnes Grade lbs U308 Tonnes Grade lbs U308 Tonnes Grade lbs U308 Ownership lbs U308
000's U308 % 000's 000's U308 % 000's 000's U308 % 000's % 000's
Kazakhstan
Akdala 28,600 0.011 6,990 1,300 0.033 940 29,900 0.012 7,930 70% 5,551
South Inkai 38,100 0.009 7,720 20,000 0.028 12,430 58,100 0.016 20,150 70% 14,105
Karatau 22,000 0.013 6,530 18,700 0.040 16,480 40,700 0.026 23,010 50% 11,505
Akbastau 7,600 0.020 3,430 12,300 0.066 17,780 19,900 0.048 21,210 50% 10,650
Kharasan 7,300 0.015 2,440 21,600 0.041 19,450 28,900 0.034 21,890 30% 6,567
Zarechnoye 22,900 0.006 3,000 29,500 0.027 17,400 52,400 0.018 20,400 50% 10,133
United States
Christensen Ranch 2,981 0.121 7,930 2,981 0.121 7,930 100% 7.930
Irigaray 3,514 0.076 5,899 3,514 0.076 5,899 100% 5,899
Australia
Honeymoon 1,750 0.163 6,280 1,750 0.163 6,280 51% 3,203
East Kalkaroo 1,890 0.088 3,656 1,890 0.088 3,656 51% 1,865
Total 126,500 30,110 113,534 99,235 240,034 129,345 70,104
Average 0.011 0.040 0.024
* Mineral resources that are not mineral reserves do not have demonstrated economic viability.
** All figures are subject to rounding and columns may not add up due to rounding. All mineral resources and mineral reserves are based on CIM Standards.
*** Represents the portion of total reserves and/or resources notionally attributable to Uranium One’s equity interest in the joint venture through which the property is owned in the percentage indicated in this column.
35 | TSX: UUU | JSE: UUU WWW.URANIUM1.COM

36. Measured, Indicated and
Inferred Resources*
Assets Measured Indicated Measured & Indicated Company Share Assets Inferred Company Share
Tonnes Grade lbs U308 Tonnes Grade lbs U308 Tonnes Grade lbs U308 Ownership lbs U308 Tonnes Grade lbs U308 Ownership lbs U308
000's U308 % 000's 000's U308 % 000's 000's U308 % 000's % 000's 000's U308 % 000's % 000's
Kazakhstan Kazakhstan
Akdala 33,230 0.011 7,753 628 0.075 1,037 33,858 0.012 8,791 70% 6,153 Akdala 9,683 0.073 15,640 70% 10,948
South Inkai 21,933 0.020 9,630 12,523 0.050 13,810 34,456 0.031 23,440 70% 16,408
Kharasan South Inkai 42,845 0.047 44,450 70% 31,115
2,000 0.193 8,600 10,800 0.091 21,700 12,800 0.107 30,300 30% 9,090
Karatau 10,650 0.052 12,100 9,342 0.089 18,300 19,992 0.069 30,400 50% 15,200 Kharasan 17,600 0.120 46,700 30% 14,101
Zarechnoye 7,600 0.032 5,200 18,300 0.064 25,700 25,900 0.054 30,900 50% 15,348 Karatau 9,685 0.085 18,200 50% 9,100
Akbastau 3,494 0.056 4,300 11,194 0.126 31,000 14,692 0.109 35,400 50% 17,700 Zarechnoye 11,600 0.055 14,300 50% 7,103
United States
Akbastau 31,370 0.115 79,600 50% 39,800
Moore Ranch 2,427 0.06 3,210 - - 2,427 0.06 3,210 100% 3,210
Christensen Ranch - - 6,091 0.096 12,905 6,091 0.096 12,905 100% 12,905 United States
Irigaray - - 3,516 0.076 5,899 3,516 0.076 5,899 100% 5,899 Irigaray 94 0.068 141 100% 141
Peterson 763 0.097 1,624 208 0.086 393 971 0.095 2,017 100% 2,017 Jab 219 0.031 150 100% 150
Barge 3,922 0.053 4,590 - - 3,922 0.053 4,590 100% 4,590 West Jab 119 0.09 236 100% 236
Jab 1,133 0.063 1,561 220 0.077 371 1,352 0.065 1,932 100% 1,932
Red Rim 428 0.163 1,539 100% 1,539
West Jab 328 0.115 830 109 0.059 143 437 0.101 973 100% 973
Jab RD 1,167 0.061 1,570 - - 1,167 0.061 1,570 100% 1,570 Allemand-Ross 1,156 0.098 2,496 100% 2,496
Red Rim - - 305 0.169 1,142 305 0.169 1,142 100% 1,142 Clarkson Hill 684 0.062 940 100% 940
Allemand-Ross 223 0.085 417 29 0.066 42 252 0.083 459 100% 459 South Sweetwater 42 0.078 73 100% 73
South Sweetwater 151 0.065 217 33 0.091 66 184 0.07 283 100% 283 New Velvet 158 0.174 604 100% 604
New Velvet 329 0.271 1,966 - - 329 0.271 1,966 100% 1,966
Wood 10 0.157 35 100% 35
Old Velvet - - 56 0.41 509 56 0.41 509 100% 509
Wood - - 341 0.281 2,113 341 0.281 2,113 100% 2,113 Frank M 38 0.09 75 100% 75
Frank M - - 993 0.101 2,210 993 0.101 2,210 100% 2,210 Wate Breccia Pipe 53 0.076 886 100% 443
Tanzania Findlay Tank 191 0.223 954 100% 954
Mkuju River Tanzania
80,300 0.031 55,298 59,300 0.029 38,001 139,600 0.03 93,300 14% 13,062
Australia Mkuju River 42,500 0.028 26,104 14% 3,631
Honeymoon 1,553 0.197 6,761 1,553 0.197 6,761 51% 3,448 Australia
Goulds Dam 1,700 0.12 4,409 1,700 0.12 4,409 51% 2,249 Honeymoon 12,000 0.03 7,937 51% 4,048
East Kalkaroo 2,639 0.088 5,129 2,639 0.088 5,129 51% 2,616 Total 180,475 261,068 127,445
Total 169,649 118,836 139,884 191,665 309,533 310,502 142,915
Average Average 0.066
0.032 0.062 0.046
* Mineral resources that are not mineral reserves do not have demonstrated economic viability.
** All figures are subject to rounding and columns may not add up due to rounding. All mineral resources and mineral reserves are based on CIM Standards.
*** Represents the portion of total reserves and/or resources notionally attributable to Uranium One’s equity interest in the joint venture through which the property is owned in the percentage indicated in this column.
**** For Notes 1-5 See page 37
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37. Reserves and Resources - Notes
Notes to slides 35-36:
(1) The above technical and scientific information is based on information compiled by "Qualified Persons" (as defined under National Instrument 43-101) and is also based on
assumptions, qualifications and procedures which are set out in the following independent technical reports concerning the Corporation's material mineral properties which are available for
review on SEDAR under the Corporation's profile at www.sedar.com:
 Akdala Mine: report titled “Technical Report on the Akdala Uranium Mine, Kazakhstan” dated February 17, 2012 prepared by Wayne W. Valliant, P.Geo and R. Dennis Bergen,
P.Eng of Roscoe Postle Associates Inc. (“RPA”) (the “Akdala Report”);
 South Inkai Mine: report titled “Technical Report on the South Inkai Uranium Mine, Kazakhstan” dated March 12, 2012 , prepared by Wayne W. Valliant, P.Geo and R. Dennis
Bergen, P.Eng of RPA (the “South Inkai Report”);
 Karatau Mine: report titled “Technical Report on the Karatau Uranium Mine, Kazakhstan” dated March 1, 2012, prepared by Wayne W. Valliant, P.Geo and R. Dennis Bergen,
P.Eng of RPA (the “Karatau Report”);
 Akbastau Mine: report titled “Technical Report on the Akbastau Uranium Mine, Kazakhstan” dated March 1, 2012 , prepared by Wayne W. Valliant, P.Geo and R. Dennis Bergen,
P.Eng of RPA (the “Akbastau Report”);
 Zarechnoye Mine: report titled “Technical Report on the Zarechnoye Uranium Mine, Kazakhstan” dated February 27, 2012, which was prepared by Hrayr Agnerian, M.Sc.(Applied),
P.Geo., and R. Dennis Bergen, P.Eng. of RPA (the “Zarechnoye Report”);
 Kharasan Mine: report titled “Technical Report on the Kharasan Uranium Mine, Kazakhstan” dated February 14, 2012, which was prepared by Hrayr Agnerian, M.Sc.(Applied),
P.Geo., and R. Dennis Bergen, P.Eng. of RPA (the “Kharasan Report”)
(2) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
(3) Mineral Resources are inclusive of Mineral Reserves
(4) All Reserve and Resource estimates are as at December 31, 2011 except for the Reserve and Resource estimates for the Mkuju River Project which are as at September 27, 2011
(5) Columns and rows may not add correctly due to rounding
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38. Appendix 5
Uranium Industry Overview

39. Uranium Industry Overview
Production by Mining Method 2011 Top 10 Producers 2011 M Lbs U3O8
Kazatomprom 23.1
By Product,
5%
AREVA 22.9
Cameco 22.4
Uranium One 10.7
Rio Tinto 10.6
ISL, 45% BHP Billiton 8.7
ARMZ 7.5
Conventional Navoi 6.5
, 50% Paladin 5.9
Others 20.6
Total 139.1
2011 Global Production 2011 Percentage of Total Nuclear Power Generation MWe
United States, Ukraine, 2% Other, 8% USA, 27%
3%
Uzbekistan, Kazakhstan,
5% 36% Other, 39%
Russia, 6%
Namibia, 6%
France, 17%
Niger, 8% India, 1%
China, 3%
Australia, 11% South
Canada, 17%
Korea, 6% Russia, 7%
Source: WNA, UxC
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40. Appendix 6
In Situ Recovery Process

41. In Situ Recover Process Sheet
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42. Appendix 7
Uranium One Board of Directors

43. Board of Directors
Board of Directors
Ian Telfer, CA –
Chairman and former CEO of Goldcorp Inc., former CEO of Wheaton River Minerals
Chairman
Former investment banker at Midland Doherty (Merrill Lynch), director of Goldcorp,
Ken Williamson
QuadraFNX
Andrew Adams, CA Former CFO of AngloGold north America. Chartered Accountant in the U.K since 1981
Phillip Shirvington Former President and CEO of UrAsia prior to acquisition by Uranium One
Peter Bowie, CA Former CEO of Deloitte China and former Chairman of Deloitte Canada
Former EVP, Corporate Development and Investor Relations at U1 and investment banker at
Chris Sattler – U1 CEO
BMO Capital Markets
Vadim Jivov – U1 Chairman of ARMZ, former Deputy Director General of Tenex and former Deputy Director
President General of Gazprom Media
Jean Nortier Former CEO of Uranium One
Ilya Yampolskiy M&A and Legal Departments of Rosatom since 2004
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