UVN Uravan Minerals Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Uravan Minerals Inc. ("Uravan" or the "Corporation") (TSX VENTURE:UVN) is
pleased to announce that it has closed a non-brokered private placement (the
"Offering") by issuing 3,100,066 units ("Units") at a price of $0.15 per Unit
for gross proceeds of $465,009.90.


Each Unit consists of one common share ("Common Share") issued on a flow-through
basis pursuant to the Income Tax Act (Canada) and one non-flow-through share
purchase warrant ("Warrant") of the Corporation. Each Warrant will expire on
September 27, 2013 and will entitle the holder to acquire one Common Share of
the Corporation at a price of $0.20 per share for the first year following the
closing date of the Offering and $0.25 per share for the period beginning 12
months from the closing date until 24 months from the closing date of the
Offering.


With respect to subscriptions for 2,433,332 of the Units issued pursuant to the
Offering, the Corporation paid a cash finder's fee of $21,900 and issued 194,666
finder's options ("Finder's Options"). Each Finder's Option is exercisable into
a finder's unit ("Finder's Unit") consisting of one Common Share and one
Warrant. Each Warrant entitles the holder to purchase one additional Common
Share on the same terms and conditions as the Warrants issued under the
Offering.


The Common Shares and Warrants issued pursuant to the Offering are subject to a
four month hold period under applicable securities laws, which hold period
expires on January 28, 2012.


Proceeds of the Offering will be used by the Corporation to finance potential
uranium opportunities.


Uravan is a Calgary Alberta based diversified mineral exploration company that
utilizes applied research to develop new innovative exploration technologies to
identify buried uranium, rare earth elements (REE) and nickel-copper-platinum
group element (Ni-Cu- PGE) deposits in under-explored areas. Our exploration
focus in uranium is for potential high-grade unconformity-related uranium
deposits in the Athabasca and Thelon Basins in Canada and other basin
environments globally. Uravan is expanding its acquisition efforts toward REE
geological domains in North America and other specific areas globally. The REE
and uranium mineralization occur in related geological environments thereby
complementing Uravan's uranium exploration efforts with a strategy to add
diversification to its portfolio. Further, Uravan is pursuing the exploration of
its advanced stage Rottenstone Ni-Cu-PGE project supported by the development of
new drill targets defined by recent geophysical re-interpretation. Uravan is a
publicly listed company on the TSX Venture Exchange under the trading symbol
"UVN". All of the mineral properties Uravan owns are considered in the
exploration stage of development.


This press release may contain forward looking statements including those
describing Uravan's future plans and the expectations of management that a
stated result or condition will occur. Any statement addressing future events or
conditions necessarily involves inherent risk and uncertainty. Actual results
can differ materially from those anticipated by management at the time of
writing due to many factors, the majority of which are beyond the control of
Uravan and its management. In particular, this news release contains
forward-looking statements pertaining, directly or indirectly, to the use of
proceeds of the Offering. Readers are cautioned that the foregoing list of risk
factors should not be construed as exhaustive. These statements speak only as of
the date of this release or as of the date specified in the documents
accompanying this release, as the case may be. The Corporation undertakes no
obligation to publicly update or revise any forward-looking statements except as
expressly required by applicable securities laws.


The Common Shares and Warrants offered have not been and will not be registered
under the United States Securities Act of 1933, as amended and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirement. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.

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