Mr. Drew Zimmerman reports

NOBLE PLAINS URANIUM COMPLETES AGREEMENT TO ACQUIRE DRILL DATA ON SHIRLEY CENTRAL PROJECT IN WYOMING

Noble Plains Uranium Corp. has completed the data acquisition agreement with Pathfinder Mines Corp., a wholly owned subsidiary of Ur-Energy Inc., to acquire the historical database for 1,211 drill holes located on Noble Plains' Shirley Central project in Wyoming's past-producing Shirley basin that was previously announced on Dec. 18, 2025.

This high-quality data set includes lithologic logs, geophysical results and historical interpretations from multiple operators who drilled the basin while it was in active production. Noble Plains estimates this data set would cost in excess of $6-million (U.S.) to replicate today, as well as years of drilling and analysis, demonstrating both the economic and time-saving value of this strategic transaction.

"With this transaction now closed, we have immediately put this extensive historical data set to work," said Drew Zimmerman, chief executive officer of Noble Plains. "This is how we have moved quickly to create value, acquiring historically drilled uranium assets in top U.S. jurisdictions and rapidly advancing them toward defined pounds in the ground. Welcoming Ur-Energy as a new shareholder further validates the quality of Shirley Central and its strategic location beside a new ISR facility under construction."

The newly acquired drill hole data will immediately be used to refine geological modelling across the property to guide the company's 22-hole drill program already permitted. By validating the historical results, Noble Plains will work toward establishing a resource estimate prepared in accordance with National Instrument 43-101 standards at Shirley Central.

"We are pleased to see this data now formally in the hands of the Noble Plains team as they advance Shirley Central," commented John Cash, chairman of Ur-Energy. "The broader historical dataset contributed to the definition of uranium resources currently being advanced toward production at our Shirley Basin project. We believe this subset of data will assist Noble Plains in efficiently interpreting the geology and identifying uranium-bearing roll fronts as they progress toward drilling and resource definition."

Strategic location for future ISR (in situ recovery) development

Shirley Central consists of 30 unpatented mineral claims covering 665 acres adjacent to the boundary of Ur-Energy's Shirley Basin ISR project, which currently hosts a National Instrument 43-101-compliant measured and indicated resource of 8,816,000 pounds (lb) U3O8 at 0.23 per cent (1) and is under construction with production planned for 2026 (2).

The project is also bordered by Uranium Energy Corp. (UEC), placing Noble Plains directly between two of the most active U.S. uranium developers.

Terms of the transaction

Under the data acquisition agreement, Noble Plains will pay $125,000 (U.S.) in cash and issue $650,000 (Canadian) in common shares at a deemed price of 13.58 Canadian cents per share, totalling 4,786,451 shares. Upon closing, Ur-Energy becomes an important new shareholder of Noble Plains, aligning both companies on advancing the Shirley Central project. If the company issues a Canadian National Instrument 43-101, SK-1300, JORC or equivalent mineral resource report, the company will issue a contingent payment of 10 U.S. cents and issue 20 Canadian cents in shares of the company, for each pound of mineral resource or reserve in such report. The contingent share issuance is capped at a level as to not result in Pathfinder's ownership of Noble Plains exceed 9.9 per cent, if that becomes the case any additional contingent payment would be settled in cash. The contingent share issuance will require prior approval from the TSX Venture Exchange.

About Noble Plains Uranium Corp.

Noble Plains Uranium is a United States-focused uranium exploration and development company advancing a portfolio of high-potential projects amenable to ISR -- the most capital-efficient and environmentally responsible method of uranium extraction. The company's strategy targets historically drilled and underexplored assets in proven jurisdictions, with the objective of rapidly delineating NI 43-101-compliant resources and building a scalable inventory of domestic uranium.

(1) Technical report summary, amended report for S-K 1300, "Shirley Basin ISR Uranium Project, Carbon County Wyoming, USA," dated March 11, 2024, and prepared by Western Water Consultants Inc.

(2) "Ur-Energy Announces Q3 2025 Results; Construction Advances at Shirley Basin and Exploration Underway in the Great Divide Basin," news release dated Nov. 3, 2025.

Bradley Parkes, PGeo, vice-president of exploration of Noble Plains Uranium, is the qualified person as defined in National Instrument 43-101, who has read and approved the technical content of this news release.

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