Mr. Daniel Major reports

GOVIEX ANNOUNCES $7.5 MILLION PRIVATE PLACEMENT

GoviEX Uranium Inc. is conducting a private placement financing of up to 150 million units of the company at a price of five cents per unit for aggregate gross proceeds of up to $7.5-million.

The units to be issued under the offering will be offered to purchasers as follows: (i) up to 50 million units will be offered pursuant to the accredited investor exemption under National Instrument 45-106 -- Prospectus Exemptions; and (ii) up to 100 million units will be offered pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, in all the provinces of Canada, except Quebec. The LIFE units will not be subject to resale restrictions pursuant to applicable Canadian securities laws. The hold units will be subject to the statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

Each unit will comprise one Class A common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at seven cents per common share for a period of 24 months following the closing date of the offering.

The company intends to use the net proceeds of the offering to finance continued exploration and development activities on the company's assets, as well as for working capital and general corporate purposes.

The closing of the offering is expected to occur on or about April 2, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.

Up to a 6-per-cent cash finder's fee may be paid to arm's-length finders on hold units and/or LIFE units placed by a finder in the offering. In addition, the company may issue to finders, on the closing date, warrants of the company to acquire, in aggregate, up to that number of common shares of the company which is equal to 3 per cent of the aggregate number of on hold units and/or LIFE units placed by a finder under the offering, with each finder's warrant entitling the holder thereof to purchase one additional common share at a price of seven cents per common share for a period of 18 months following the closing date of the offering.

An offering document relating to the offering of the LIFE units can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

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.

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