Canadian Warrants

The warrants of the trust represented by the global warrant certificate are issued
upon the terms and subject to the conditions set forth in the trust's prospectus and
the warrant indenture between the trust and Computershare Trust Company of
Canada, both dated Aug. 24, 2006, and provide for appropriate adjustments to the
warrants in the event of distributions, subdivisions, consolidations and other forms
of capital reorganization.

Investors should contact their broker for information or advice on their investment.

Uranium Participation to list on May 10

2005-05-06 19:50 ET - New Listing
TSX bulletin 2005-0521
An application has been granted for the original listing in the industrial category of
up to 25,875,000 common shares, of which up to 18 million shares will be issued
and outstanding, and up to 7,875,000 shares will be reserved for issuance upon
completion of the initial public offering.

An application has also been granted for the listing of up to 5,175,000 common
share purchase warrants, of which up to 4.5 million warrants will be issued and
outstanding, and up to 675,000 warrants will be reserved for issuance upon
completion of the initial public offering. Each warrant will entitle the holder to
purchase one common share of the company at $6.25 for 24 months from the
closing of the initial prospectus offering.

Listing of the common shares and warrants will become effective at 5:01 p.m. on
Monday, May 9, 2005, in anticipation of the public offering closing on Tuesday, May
10, 2005. The shares and warrants, other than those which have not been
distributed to the public, will be posted for trading on Tuesday, May 10, 2005.

Share symbol:  U
Share Cusip No.:  917017 10 5

Warrants symbol:  U.WT
Warrant Cusip No.:  917017 11 3
Market-maker:  Dundee Securities Corp.
Other markets:  None

Listing statement No. 5576 is being prepared and the following constitutes
information appearing in the statement.

Incorporation:  The company is a corporation established pursuant to the Business
Corporations Act (Ontario) on March 15, 2005, to invest in, hold and sell uranium
oxide in concentrates (U3O8).

Fiscal year-end:  Feb. 28

Nature of business:  The primary objective of the company is to achieve appreciation
in the value of its holdings in U3O8 and subsequently sell some or all of its
holdings. Its strategy is to invest in holdings of U3O8 and not to actively speculate
with regard to short-term changes in uranium prices. All U3O8 owned by the
company will be stored by a small number of licensed operators at licensed
uranium conversion facilities in Canada, France, the United Kingdom and/or the
United States. The manager (Denison Mines Inc.), on behalf of the company, will
negotiate storage arrangements with the converters. The manager is required to
ensure that converters provide satisfactory indemnities for the benefit of the
company or ensure that the company has the benefit of insurance arrangements
obtained on standard industry terms.

Transfer agent and registrar:  Computershare Investor Services Inc., Toronto, Ont.

Share capital

Authorized:  Unlimited number of common shares and 5.75 million warrants

Issued:  Up to 18 million common shares and up to 4.5 million warrants

Reserved:  Up to 2.7 million common shares upon exercise of overallotment option,
up to 5,175,000 common shares upon exercise of warrants and up to 675,000
warrants upon exercise of overallotment option

Dividends:  The board of directors has not established a policy of declaring cash
dividends on the common shares.

Public offering:  Pursuant to the prospectus dated April 29, 2005, Sprott Securities
Inc., Dundee Securities Corp., TD Securities Inc., National Bank Financial Inc. and
Canaccord Capital Corp., as agents, are offering to the public up to 18 million units
at a price of $5 per unit, for gross proceeds of up to $90-million. The units will
separate into their component parts at closing. Each unit will consist of one
common share and one-quarter warrant. In addition, the agents have been offered
an overallotment option to purchase up to an additional 2.7 million units exercisable
within 30 days of the closing of the prospectus offering at $5 per unit.