First Uranium Announces Successful Completion of the Mine Waste Solutions Technical Completion Test

First Uranium Corporation (TSX:FIU) reports the successful completion of the mine waste solutions technical completion test and its financial and operating results for the three months ended June 30, 2011.

The press release is quoted as saying:

First Uranium is pleased to announce the successful conclusion of the MWS Technical Completion Test, as defined in the MWS Gold Purchase Agreement. The Technical Completion Test required MWS to achieve consistent production over three consecutive months, where the tonnage processed and or re-processed through the project is within 85% of the 1.933 million tonnes of tailings per month in respect of the project. In addition, MWS had to satisfy certain key criteria with respect to tonnes of material processed, average feed grade to the plant and gold recovery for a minimum, continuous, period of 14 days.

First Uranium’s President and CEO, Deon van der Mescht  says:

 “The test was successfully concluded at 22:00 on Wednesday, August 24, 2011 and was subsequently confirmed by Franco-Nevada on Monday, August 29, 2011. The successful completion is a defining moment for what is already a world class project and improves the risk profile of the Company substantially.”

Click here to access the entire news release.