<PAGE> 1
INTERNATIONAL URANIUM CORPORATION
1320-885 WEST GEORGIA STREET
VANCOUVER, BC CANADA V6C 3E8
TELEPHONE: (604) 689-7842
FAX (604) 698-4250
NEWS RELEASE
MULTI-MILLION US$ FUSRAP ALTERNATE FEED CONTRACT AWARDED
URANIUM INVENTORY SALE GENERATES US$6.2 MILLION
OCTOBER 10, 2000 (IUC - TSE) ... INTERNATIONAL URANIUM CORPORATION (the
"Company") is pleased to announce that it has sold all of its existing
inventory of 565,000 pounds of uranium, along with its existing uranium sales
contracts for net proceeds of US $6.2 million. This brings IUC's current cash
position to US $12 million. Receivables over the next three months will bring
in an additional US $1.6 million. IUC realized better than market prices for
the inventory when combined with the uranium contracts.
In addition, IUC is pleased to announce that it has been awarded its third
multi-million U.S. dollar FUSRAP (Formerly Utilized Sites Remedial Action
Program) contract, for the processing and disposal of approximately 75,000 tons
of material from the Linde site in Tonawanda, New York. This material is
currently being received at IUC's White Mesa Mill, located in Blanding, Utah.
In addition to the Linde material, IUC continues to receive material from the
Ashland 1 FUSRAP site, and to date has received over 120,000 tons. IUC is
vigorously pursuing other alternate feed projects and continues to evaluate
other potential opportunities for the Company.
Headquartered in Denver, IUC is engaged in the business of processing
uranium-bearing materials to recover the uranium and other metals as an
environmentally superior alternative to the direct disposal of these materials.
ON BEHALF OF THE BOARD
/s/ Ron F. Hochstein
Ron F. Hochstein
President
For further information, please contact:
Sophia Shane, Corporate Development (604) 689-7842
