Mr. Dorian Nicol reports

EUROPEAN URANIUM COMMENTS ON MARKET ACTIVITY

European Uranium Resources Ltd. confirms in response to queries about recent trading activity that there is no material news pending.

As disclosed most recently on Feb. 29, 2012, pursuant to a project acquisition, the company issued 10,727,969 shares of the company to Mawson Resources Ltd. Pursuant to a shareholder and court-approved plan of arrangement and pending the approval of the TSX Venture Exchange, Mawson will distribute these 10,727,969 shares of the company to its shareholders on a pro rata basis before April 30, 2012. A significant proportion of these shares will be distributed to Mawson shareholders who are also shareholders of the company and it is expected that these mutual shareholders will not immediately sell the shares they receive on distribution.

We seek Safe Harbor.