Mr. David Mitchell reports

AMERICAN ATOMICS COMPLETES AND FILES NI 43-101 TECHNICAL REPORT ON ITS LISBON VALLEY EAST

American Atomics Inc. has completed and filed a National Instrument 43-101-compliant technical report for its Lisbon Valley East project located in San Juan county in the state of Utah. The company holds the rights to acquire an up-to-80-per-cent interest in the property through an option assignment agreement with Big Indian Prospectors LLC, as optionor, signed and previously announced on March 11, 2026.

The report has been prepared in accordance with the guidelines set out in the Canadian Securities Administrators' National Instrument 43-101 (Standards of Disclosure for Mineral Projects). The report titled "Technical Report Lisbon Valley East Property" with an effective date of March 27, 2026, has been filed under the company's profile on SEDAR+ and is also available on the company's website.

About the Lisbon Valley East property

Lisbon Valley East lies approximately 35 miles (56 kilometres) southeast of Moab, Utah, and consists of 217 Bureau of Land Management lode claims. Lisbon Valley produced approximately 80 million pounds of triuranium octoxide between 1950 and 1990 from an arcuate belt about 16 miles long by one mile wide with approximately one-third of the belt eroded away postmineral. Individual orebodies ranged from a few hundred pounds to 20 million pounds of U3O8, hosted in the basal Moss Back member of the Triassic Chinle formation along the southwestern flank of the Lisbon Valley anti-cline. A northwest-trending, postmineral normal fault, the Lisbon Valley fault, abruptly cut off and displaced the uranium mineralization associated with the northeastern flank, speculatively dropping it 2,500 feet on the northeastern side of the fault.

Key highlights from the report

The Lisbon Valley East property was staked targeting the suspected arcuate uranium belt on the downfaulted northeastern side of the Lisbon valley anti-cline, which the author of the report believes lies at 2,500 to 2,800 feet below surface based on the following factors:

• The North Alice orebody at the north end of the southwestern arcuate uranium belt ends abruptly at the Lisbon Valley fault, not due to a drop in grade or mineralization, but due to fault displacement, strongly suggesting uranium mineralization continued prefault.
• The Rio Algom mine was subsequently discovered on the down-dropped footwall side of the fault, which Lahusen (1977) speculated was the actual continuation of the North Alice orebody. The North Alice orebody produced six million pounds of U3O8 at a grade of 0.25 per cent U3O8 (Lahusen, 1977), while the Lisbon Valley mine produced 13 million pounds of U3O8 at the same 0.25-per-cent-U3O8 grade (Chenoweth, 1990).
• Drilling by Mesa Uranium Corp. and Universal Uranium Ltd. in the 2006 and 2007 period located anomalous uranium mineralization at the base of the Chinle formation in the Moss Back member, with one highlight 3.5-foot intersection of 0.28 per cent U3O8, further proving the Moss Back member is uranium bearing on the down-faulted side on the anti-cline.
• Oil and gas drilling in the 2000s and early 2010s on the northeastern down-faulted side of the Lisbon Valley anti-cline located anomalous to extremely anomalous gamma ray readings in the suspected Moss Back member in 28 of 51 holes drilled throughout a northwestern trending belt 20 kilometres in length by 750 metres in width, outlining the suspected eastern arcuate belt.

The report was written by R. Tim Henneberry, PGeo, a qualified person who is independent of the company, in accordance with National Instrument 43-101.

The data disclosed in this news release relate to historical exploration. The company has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. The company considers these historical drill results relevant as the company intends to use these data as a guide to plan exploration programs. The company's current and future exploration work includes and will include verification of the historical data through exploration and drilling.

Qualified person

Mr. Henneberry, PGeo, is a qualified person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

About American Atomics Inc.

American Atomics is a uranium and nuclear fuel-cycle company focused on advancing a North American rocks to reactor strategy. The company is pursuing opportunities across uranium exploration and development, milling, and related technologies, with a focus on supporting secure, domestic and allied nuclear fuel supply chains.

We seek Safe Harbor.