Mr. Daniel Major reports

GOVIEX PROGRESSES MUNTANGA PROJECT FINANCING WITH APPOINTMENT OF ENDEAVOUR FINANCIAL

GoviEX Uranium Inc. has taken the first step in securing project financing for its Muntanga uranium project in Zambia by appointing Endeavour Financial as its financial adviser.

Muntanga is a near-term uranium project with well-established export routes to potentially both Western and Eastern markets. The Muntanga project boasts a net present value (discounted at 8 per cent) of $243-million (U.S.). a 20.8-per-cent internal rate of return and a rapid 3.8-year payback. Additionally, the project is highly leveraged to uranium prices, with an additional $45-million (U.S.) added to NPV for every $5 (U.S.) per pound increase in U3O8 (triuranium octoxide) prices. With production averaging 2.2 million pounds U3O8 per annum and a 12-year life of mine, Muntanga holds significant expansion potential through additional mining and multiple drill-ready targets across its properties, including satellite deposits. The mine is expected to be in a position to begin production in 2028, with discussions currently under way with potential offtakers.

Daniel Major, chief executive officer of GoviEX Uranium, said: "With the feasibility study for Muntanga completed in January, 2025, we are now focused on securing project financing, a critical step in the development of this project. By appointing Endeavour Financial as our financial adviser, we are strategically leveraging their vast experience in mining finance, especially in Africa. Their expertise will be crucial in structuring an optimal funding solution for Muntanga. I am excited to progress with one of the few uranium projects that can address the increasing demand in a tight market."

The company will explore all forms of project financing, including debt, royalties, streaming, offtake finance and equity, with a focus on minimizing the size of any new equity raise and maximizing value-per-share metrics.

As the global energy transition accelerates, the demand for clean, reliable power continues to grow, whilst uranium supply remains constrained. Muntanga is positioned as one of the few advanced uranium projects capable of addressing this supply gap. With a strong economic profile, established export routes and significant expansion potential, Muntanga is well placed to capitalize on the strengthening uranium market and contribute to the world's shifting energy landscape.

Qualified person statement

The scientific and technical information in this release has been reviewed, verified and approved by Jerome Randabel, MAIG, chief geologist of GoviEX, a qualified person as defined in 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 Muntanga project in Zambia.

We seek Safe Harbor.