Mr. David Mitchell reports

AMERICAN ATOMICS ANNOUNCES EXERCISE OF SECOND OPTION TO ACQUIRE 100% INTEREST IN COLORADO URANIUM PROJECT

American Atomics Inc. has exercised the second option pursuant to the option agreement dated Aug. 20, 2024, as amended, between Ventura Uranium LLC (doing business as Nuvemco LLC), 1494402 B.C. Ltd. and Paul Szilagyi, which was assigned to the company pursuant to an assignment and assumption agreement dated May 8, 2025.

Immediately prior to the company's exercise of the second option, the option agreement was further amended such that the payment of $1-million (U.S.) from American Atomics to Nuvemco as required by the option agreement was satisfied by American Atomics providing the following at the closing of the exercise of the second option:

• A cash payment in the amount of $250,000 (U.S.);
• A promissory note in the amount of $750,000 (U.S.).

In connection with the exercise of the second option, the company issued 11,789,405 common shares in the capital of the company, completed the above-noted cash payment of $250,000 (U.S.) and issued the promissory note. Following the exercise of the second option, the company now holds a 100-per-cent interest in NUV2C LLC (HoldCo), which holds title to a Colorado-based uranium project.

David Mitchell, chief exeuctive officer, stated: "We are very pleased to have completed this second option acquisition and to now own 100 per cent of the property. This Colorado transaction has strategic value for our growth plans and along with our other project, Big Indian (Lisbon Valley), we look forward to providing further updates in the months ahead and throughout 2026."

Further, the company issued 589,469 shares to two arm's-length finders who assisted the company with discovering the opportunity to acquire the membership interests in Holdco.

All shares issued in connection with the exercise of the second option are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation, as well as applicable contractual restrictions on transfer as agreed to by the parties.

About American Atomics Inc.

American Atomics intends to develop a vertically integrated uranium supply chain across North America -- from exploration and extraction to refinement, conversion and enrichment.

We seek Safe Harbor.