Global Uranium Fund Inc. Renews Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - July 12, 2011) - Global Uranium Fund Inc. (TSX: GUR) has renewed its normal course issuer bid to purchase up to 575,400 equity shares of the Fund representing approximately 10% of the public float of 5,754,415 equity shares. The Fund may purchase up to 115,310 equity shares in any 30 day period which is 2% of the 5,765,515 issued and outstanding equity shares at July 6, 2011.

As of July 6, 2011, the Fund had purchased 170,200 equity shares under its current bid at an average price of $2.93 per equity share.

The equity shares may be purchased for cancellation from July 14, 2011 to July 13, 2012 through the facilities of the TSX or other eligible alternative market and may only be purchased at a price per equity share not exceeding the last published net asset value per equity share. The Manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

For further information, please contact your financial advisor, call Brompton's investor relations line at 416-642-9051 (toll-free at 1-866-642-6001), or visit our website at www.bromptonfunds.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.