share sale agreement

Announcement out:

Uran Limited (ASX: URA) (“Uran” or “the Company”) is pleased to announce that the Company has, in conjunction with the underwriter to the non-renounceable rights issue, completed the allocation of the shortfall of shares.

The Company is also pleased to announce that it has now executed the Share Sales Agreement to acquire 100% of the share capital of African Asian Mining Development Ltd (“AAMD”) and now holds a 51% interest in 5 Large Scale Prospecting Licenses and 3 Small Scale Mining Licenses covering 2,734 km2 including large areas known to be prospective for manganese comprising the Emmanuel Project which includes the current Chowa Open Pit Mine, the Peco Project, and the Kanona Project (together the “Zambian Manganese Projects”).

The execution of the Share Sales Agreement follows completion by the Company of its technical, legal and financial due diligence on the acquisition of AAMD and the Zambian Manganese Projects and receipt of all necessary shareholder approvals that were obtained at the General Meeting of 20 September 2011.