Mr. John Borshoff reports

ASARIAN ENERGY ANNOUNCES INFILL RESOURCE DRILLING PROGRAM AT NAMIBPLAAS URANIUM DEPOSIT

Asarian Energy Ltd. has approved a drilling program at the Namibplaas deposit located in EPL 3638, part of the Norasa project in Namibia. The program is designed to support an updated mineral resource estimate (MRE) and assess the potential to upgrade portions of the Namibplaas mineral resource from the inferred to the indicated category.

Highlights:

• 4,500-metre/17-hole reverse circulation (RC) and diamond core (DC) infill drilling program planned;
• Drilling is expected to commence late October/early November, 2026;
• Results are intended to support updating of the Norasa MRE.

The planned infill drilling program follows a review of the historic drill and resource data for Namibplaas and will focus on obtaining new geological and analytical information from within the deposit to assess the continuity of mineralization and validate uranium grades. This information is required to strengthen the geological interpretation and support an updated MRE.

The program will comprise a combination of RC and DC drilling totalling approximately 4,500 metres across 17 drill holes within EPL 3638. Drilling is expected to commence in late October or early November, 2026.

The most recent drilling at Namibplaas was completed in mid-2023.

The currently available historical data set, including drilling completed in early 2023, relies predominantly on downhole radiometric gamma logging and contains comparatively limited supporting assay data. The limited proportion of assayed samples relative to downhole gamma data within the available data set was a key factor contributing to the current classification of the Namibplaas MRE as inferred.

The proposed drilling is intended to provide some of the supporting data required to update the resource definition and assess whether portions of the Namibplaas MRE can be upgraded to the indicated category.

Any upgrade to the indicated category will require confirmation of the conversion factors used to provide for equivalent uranium grades from the downhole radiometric data. This work will involve sampling and assaying mineralized intersections and comparing the geochemical laboratory results with composited downhole gamma data.

Seventeen drill hole locations have been selected. These holes will be drilled broadly parallel to the existing drill pattern, at an azimuth of approximately 305 degrees and an inclination of approximately 60 degrees. The holes are designed to intersect mineralization at depths of up to approximately 250 metres below surface. Each completed hole will undergo downhole gamma logging, sampling for geochemical assays and borehole trajectory surveys.

John Borshoff, director, president and chief executive officer, commented: "This drilling program is the first phase of what we expect will be a continued drilling campaign in 2027, also extending to parts of the Valencia deposit to support resource optimization. In this context, the focused Namibplaas program marks an important stage in the evolution of the Norasa project, as we re-evaluate the current resource base and assess opportunities to improve its definition and classification."

About Asarian Energy Ltd.

Asarian Energy is now operating under a new leadership and management structure, advancing a value creation strategy centred on asset optimization, expanding the company's project portfolio, and building a proven team capable of converting vision into reality.

The objective is for Asarian Energy to become a globally significant uranium producer focusing both on advancing its wholly owned Norasa project, located in the politically and uranium-friendly jurisdiction of Namibia, Africa, and expanding the company's project footprint to attain a multijurisdiction status through merger and acquisition effort, alliance development and joint ventures.

Qualified person statement

The information in this release that relates to the mineral resource estimate for the Norasa project is based on information compiled or reviewed by David Princep, BSc, geology who is a fellow and chartered professional of the Australasian Institute of Mining and Metallurgy and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity that is being undertaken, to fulfill the requirements of a qualified person as per National Instrument 43-101. Mr. Princep is an independent consultant to the company. Mr Princep consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

The information in this release as it relates to exploration results is based on and fairly represents information compiled by Martin Hirsch, who is a professional member of the Institute of Materials, Minerals and Mining (United Kingdom) and the South African Council for Natural Science Professionals. Mr. Hirsch, who is currently the general manager, projects (Namibia), has sufficient exploration experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that is being undertaken to fulfill the requirements of a qualified person. Mr. Hirsch consents to the inclusion in this release of the matters based on the information in the form and context in which it appears.

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