Mr. Daniel Major reports

NIGER'S MINES MINISTER VISITS GOVIEX'S MADAOUELA PROJECT AMID ONGOING GOVERNMENT DISCUSSIONS

GoviEX Uranium Inc.'s Madaouela uranium project was recently paid a visit by Niger's Mines Minister, Commissaire Colonel Ousmane Abarchi, accompanied by distinguished local leaders, including the governor of the Agadez region and local community officials, as well as GoviEX's employees. The visit, which took place on May 4, forms part of a broader inspection of significant exploration and mining projects within the northern Agadez region of Niger.

This site visit demonstrates GoviEX's commitment to maintaining transparency and continuing its constructive engagement with government officials and stakeholders. During the visit, the minister and accompanying delegation reviewed the continuing ground works, assessed the current mine plans, and explored various corporate social responsibility initiatives that have significantly contributed to supporting local communities and promoting socio-economic development in the region.

While the results of GoviEX's discussions with the government in relation to the formal notice to commence exploitation works at the project remain unclear, GoviEX is confident that its discussions with the Mines Minister, notably in the context of the visit, demonstrated the company's commitment to work with the Nigerien government toward a mutually beneficial solution that complies with applicable law and protects its rights. The company is committed to keeping the market informed and will provide updates as soon as more information becomes available.

The Madaouela project represents a significant investment in the Nigerien economy, with an anticipated initial capital expenditure of $343-million (U.S.), and is expected to generate considerable employment opportunities with the potential of creating up to 800 jobs over its forecast 20-year mine life. The Madaouela project is also expected to contribute substantial royalty payments and taxes to the Nigerien government. The government holds a 20-per-cent stake in COMIMA, the Nigerien company set up to develop the project.

Qualified person statement

The scientific and technical information in this release has been reviewed, verified and approved by Jerome Randabel, MAIG, chief geologist of the company, a qualified person as defined in Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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

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