REPORT TO SHAREHOLDERS
2ND QUARTER 2001
Over the past quarter, International Uranium Corporation (the "Company") continued to receive alternate feed
materials from its two FUSRAP contracts and worked towards developing additional alternate feed sources of
materials. To this end, the Company announced the rehiring of Harold Roberts as Vice-President, Corporate
Development to expand our non-government marketing programs and evaluate toll-milling opportunities, and
announced the launch of its website www.intluranium.com. The web site will be a key component of the
Company's business development and public outreach programs. In addition, the website provides access to all
of the Company's public corporate documentation including quarterly and annual reports and other public filings.
Operational highlights during the quarter included:
o The Ashland 1 FUSRAP project has delivered over 150,000 tons of material and is expected to continue over
the next two to three months. This contract originally envisioned 100,000 tons of alternate feed material.
o The Linde project continued to deliver an average of 900 tons per week. This contract, which was originally
expected to be completed by September of 2001, is now expected to continue on well into 2002.
o In addition to the two FUSRAP contracts, the Company continued to receive materials delivered under
contract with a private sector nuclear fuel cycle company.
o The Company currently has one request for a license amendment, which was submitted last quarter, for another
alternate feed material, which is under review by the U.S. Nuclear Regulatory Commission.
The Company has made the decision to postpone the next Mill run until March 2002. During this stand-by period
Mill personnel will continue to receive material and perform the necessary modifications to the Mill to ensure a
smooth start-up. The Company has also begun the design and permitting process to increase the tailings capacity
for future contracts through