Ms. Isabel Vilela reports

GOVIEX CLOSES C$15 MILLION BOUGHT DEAL PRIVATE PLACEMENT

GoviEX Uranium Inc. has closed its previously announced bought deal private placement financing, underwritten by Eight Capital and SCP Resource Finance LP (formerly known as Sprott Capital Partners LP), as lead underwriters and joint bookrunners, of 85,714,200 units of the company, at a price of 17.5 cents per unit for aggregate gross proceeds of $14,999,985.

Each unit consists of one Class A common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at 19 U.S. cents until May 11, 2025.

The company intends to use the net proceeds of the private placement for exploration, engineering, and general corporate and working capital purposes.

The company paid a cash commission equal to 6 per cent of the aggregate gross proceeds under the private placement and the number of compensation warrants equal to 3 per cent of the number of units sold in the private placement to the underwriters (each such compensation warrant to be exercisable into one unit at 17.5 cents per unit until May 11, 2025), other than with respect to certain purchasers identified by the company to the underwriters as being on a president's list.

The private placement is subject to receipt of final approval by the TSX Venture Exchange. The units that were issued under the private placement were offered to purchasers pursuant to the: (i) accredited investor exemption under National Instrument 45-106, Prospectus Exemptions, in an amount up to 28,571,400 units (the hold units); and (ii) the listed issuer financing exemption under Part 5A of NI 45-106 in an amount up to 57,142,800 (the life units), in all the provinces of Canada, except Quebec. The LIFE units are not subject to resale restrictions pursuant to applicable Canadian securities laws. The hold units are subject to the statutory hold period until Sept. 12, 2023, in accordance with applicable Canadian securities laws. Purchasers under the private placement have generally received a fixed ratio of LIFE units to hold units, being 2:1.

In addition, securities issued to subscribers in the United States are subject to a hold period under the United States Securities Act of 1933, as amended, and can only be resold in strict compliance with the applicable exemptions from the registration requirements of the U.S. Securities Act.

About GoviEX Uranium Inc.

GoviEX is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEX's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger and its mine-permitted Mutanga project in Zambia.

We seek Safe Harbor.