Ms. Isabel Vilela reports

GOVIEX URANIUM INC. FILES PRELIMINARY SHORT FORM PROSPECTUS

In connection with its previously announced bought deal financing (see the press releases dated Dec. 4, 2023, and Dec. 5, 2023), GoviEX Uranium Inc. has filed a preliminary short form prospectus with the applicable securities regulators in each of the provinces of British Columbia, Alberta and Ontario. Under the terms of the financing, Eight Capital as sole underwriter and bookrunner has agreed to purchase, on a bought deal basis, 75 million units at a price of 16 cents per unit for gross proceeds to the company of $12-million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant shall be exercisable to acquire one common share at a price per warrant share equal to the U.S.-dollar equivalent of 21 cents (the foreign exchange rate to be set based on the Bank of Canada daily exchange rate for U.S. dollars one business day prior to the closing date (defined below)) for a period of 36 months from the closing date of the offering.

In addition, the company has agreed to grant to the underwriter an overallotment option to purchase up to an additional 15 per cent of the number of units sold under the offering at a price per unit equal to the issue price, on the same terms and conditions as the offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the offering.

The company intends to use the net proceeds from the offering for exploration, engineering, and general corporate and working capital purposes.

The offering is scheduled to close on or about Dec. 22, 2023, and 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 and the securities regulatory authorities.

The preliminary short form prospectus is still subject to completion or amendment. A copy of the preliminary short form prospectus is available electronically at SEDAR+. There will not be any sale of or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

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 mine-permitted Muntanga project in Zambia and its mine-permitted Madaouela project in Niger.

We seek Safe Harbor.