Mr. Daniel Major reports

GOVIEX SUCCESSFULLY CLOSES UPSIZED $10.5 MILLION PRIVATE PLACEMENT LED BY STRATEGIC ZAMBIAN GROUP AND SUPPORTED BY GOVIEX INSIDERS

GoviEx Uranium Inc. has closed its previously disclosed, upsized private placement offering for aggregate gross proceeds of approximately $10,470,600 (Canadian). A total of 209,412,000 units were sold at a price of five Canadian cents per unit.

A privately held, multisector Zambian investment group anchored the financing. With interests spanning agriculture, natural resource and power assets, and financial services, the group now holds an initial, material equity position in GoviEx, establishing a partnership aligned with the development of the company's Muntanga project.

Commenting on the transaction, Govind Friedland, GoviEx's executive chairman, said:

"This successful financing sends a clear signal: The Muntanga project is gaining serious momentum at a time when uranium fundamentals are surging. The backing from our strategic investor group in Zambia, right where the project is located, reinforces the strength of our asset and reflects a shared conviction in Muntanga's potential to become a cornerstone supplier in the global nuclear fuel market."

All securities issued under the offering are subject to a hold period expiring Sept. 6, 2025.

Each unit shall comprise one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share of the company at an exercise price of 5.1 U.S. cents, until May 5, 2027.

In connection with the offering, insiders of the company acquired 50.6 million units or 24.16 per cent of the offering. Participation by the insiders in the offering was considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of any securities issued to, nor the consideration paid by, the insiders exceeded 25.0 per cent of the company's market capitalization. A material change report was not filed in connection with the participation of insiders in the offering less than 21 days in advance of the closing of the offering, as the insiders' participation had not been confirmed at that time and the company wishes to complete the offering in an expeditious manner for business reasons.

In connection with the offering, the company paid to arm's-length finders an aggregate cash commission of $449,436 and issued certain finders an aggregate of 1,702,100 finders' warrants. Each finder's warrant entitles the holder thereof to purchase one common share of the company at an exercise price of 5.1 U.S. cents per finder's warrant share, until Nov. 5, 2026.

Pangaea Holdings Ltd. acted as the main finder in connection with the offering. Pangaea is a leading Southern African financial services group with experience across corporate finance, investment banking and advisory services in the Southern African development community region.

The company intends to use the net proceeds of the offering to finance continued exploration and development activities on the company's assets, for working capital, and for general corporate purposes. The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of final approval from the TSX Venture Exchange.

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.