Mr. Galen McNamara reports

AERO ENERGY, URANO ENERGY AND PEGASUS RESOURCES ANNOUNCE UPSIZE OF FINANCING TO $11.5 MILLION

Due to strong investor demand, Aero Energy Ltd., Urano Energy Corp. and Pegasus Resources Inc. have increased the size of the previously announced subscription receipt financing to up to 26.25 million subscription receipts at a price of 40 cents per Aero subscription receipt, for aggregate gross proceeds of up to $10.5-million. The terms and size of the previously announced charity flow-through unit financing for gross proceeds of up to $1-million remain unchanged.

The Aero subscription receipt financing is being conducted in connection with Aero entering into a definitive arrangement agreement with Urano and Pegasus to combine the three companies by way of a court-approved plan of arrangements. The combined company is expected to continue under the name Manhattan Uranium Discovery Corp. and trade under the symbol MANU.

Upon the satisfaction of the escrow release conditions (as defined herein) and without payment of any additional consideration and without further action on the part of the holder thereof, each Aero subscription receipt will convert into one unit of Aero, with each Aero unit composed of one common share of Aero and one Aero share purchase warrant. Each Aero warrant is exercisable to acquire one Aero share at a price of 60 cents for a period of two years following the closing date.

The combined company plans to use the net proceeds of the Aero subscription receipt financing as follows: (i) the advancement of the company's uranium project portfolio in North America; (ii) the repayment of the Urano bridge loan; (iii) the costs of completing the transactions; and (iv) working capital and general corporate purposes.

The Aero subscription receipt financing is anticipated to close on or about March 23, 2026. The closing of the Aero subscription receipt financing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

Eventus Capital Corp. and PowerOne Capital Markets Ltd. have been appointed as finders in connection with the financing.

The gross proceeds of the Aero subscription receipt financing will be deposited and held by an escrow agent pursuant to the terms of a subscription receipt agreement to be entered into on the closing date among Aero and the escrow agent. The escrowed funds will be released from escrow to the combined company, as applicable, upon satisfaction of certain escrow release conditions no later than the 90th day following the closing date.

If: (i) the satisfaction of the escrow release conditions does not occur on or prior to the escrow release deadline; or (ii) Urano has advised Aero and/or the public that it does not intend to proceed with the Urano transaction, then all of the issued and outstanding Aero subscription receipts shall be cancelled, and the escrowed funds shall be used to pay holders of the Aero subscription receipts an amount equal to the issue price of the Aero subscription receipts held by them (plus an amount equal to a pro rata share of any interest or other income earned thereon). If the escrowed funds are not sufficient to satisfy the aggregate purchase price paid for the then issued and outstanding subscription receipts (plus an amount equal to a pro rata share of the interest earned thereon), it shall be Aero's sole responsibility and liability to contribute such amounts as are necessary to satisfy any such shortfall.

About Aero Energy Ltd.

Aero, following its successful merger with Kraken Energy Corp., has established a robust portfolio of uranium assets in North America. The company controls a district-scale land package in Saskatchewan's Athabasca basin, including its Strike and Murmac projects, which collectively host dozens of shallow drill-ready targets on the north rim of the Athabasca basin. These projects are guided by an award-winning technical team with a proven record, responsible for major discoveries such as Gryphon, Arrow and Triple-R. Additionally, Aero's portfolio includes Kraken's 100-per-cent-owned Apex uranium property, Nevada's largest past-producing uranium mine and the Huber Hills property, spanning 1,044 hectares in Nevada and encompassing the historic Race Track open-pit mine. This strategic merger combines Aero's extensive Canadian exploration assets with Kraken's high-grade U.S. properties, positioning Aero to unlock significant high-grade, unconformity-style uranium mineralization and capitalize on the growing global demand for uranium.

About Urano Energy Corp.

Urano is a mineral exploration company which holds numerous advanced conventional uranium projects hosting historic resources and mining lode claims in the Colorado plateau, a region with a rich history of uranium and vanadium mining. As the need and support for domestic uranium and nuclear energy in the United States advance, Urano is well positioned to complete the necessary work to advance permitting for key projects.

About Pegasus Resources Inc.

Pegasus Resources is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. The company's flagship asset, the Jupiter uranium project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy.

We seek Safe Harbor.