Mr. John Borshoff reports

ASARIAN ENERGY COMMENCES 4,500 METRE INFILL RESOURCE DRILLING PROGRAM AT NAMIBPLAAS

Further to the news release issued on Oct. 7, 2026, Asarian Energy Ltd. has commenced drilling at the Namibplaas deposit, located within exclusive prospecting licence 3638 (EPL 3638), part of the Norasa project (1) in Namibia. The program is designed to support an updated mineral resource estimate (MRE) for the Norasa project and assess the potential to upgrade portions of the Namibplaas mineral resource from the inferred to the indicated category.

Highlights:

• Drilling program at the Namibplaas deposit has commenced;
• 4,500-metre (m), 17-hole reverse circulation (RC) infill drilling program planned;
• Drilling program is designed to improve confidence in the existing Namibplaas mineral resource and support an updated Norasa MRE;
• New geochemical assay data will supplement historical downhole gamma logging data to improve resource definition and support potential reclassification of portions of the existing inferred mineral resource to the indicated category.

This drilling program is now under way and represents the first phase of a refocused advance exploration initiative at Namibplaas. Its primary objective is to improve confidence in the existing mineral resource inventory at Namibplaas through additional infill drilling, supported by systematic geochemical sampling and analysis. The availability of additional geochemical data from the current drilling campaign is expected to provide a more comprehensive basis for evaluating uranium grades, tonnage and mineralization characteristics, facilitating the refinement of the existing geological and resource models. The limited proportion of assayed samples relative to downhole gamma data within the available data set was a key factor contributing to the reduction in grade and tonnage in the May, 2024, MRE. Consequently, the Namibplaas deposit has remained classified in the inferred category. The current drilling is also intended to address these data limitations and generate the additional geological and analytical information required to support a potential upgrade of portions of the existing Namibplaas MRE to the indicated category, subject to the results and applicable resource classification criteria.

Seventeen drill holes are planned to 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 m below surface. Each completed drill hole will undergo downhole gamma logging, sampling for geochemical assays and borehole trajectory surveys.

Key objectives of this program are to support the revision and refinement of the existing Norasa MRE, increase confidence in the uranium mineralization characteristics within the deposit, and establish a stronger technical foundation for future exploration and potential mineral resource expansion of the Norasa project.

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.

This news release was authorized for dissemination by John Borshoff, director, president and chief executive officer, for and on behalf of the board of directors of Asarian Energy.

Qualified person statement

The information in this news 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 news release of the matters based on the information in the form and context in which it appears.

(1) The Norasa project is wholly owned by the company's 100-per-cent subsidiary, Valencia Uranium Pty. Ltd., and comprises the Valencia uranium deposit (held under mining licence 149) and the Namibplaas uranium deposit under EPL 3638.

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