Mr. Colin Healey reports

PREMIER AMERICAN URANIUM AMENDS TERMS OF PROMISSORY NOTE WITH SACHEM COVE

Premier American Uranium Inc. has amended the terms of its existing promissory note with Sachem Cove Special Opportunities Fund LP (the lender). Originally established in 2023 for up to $1-million (U.S.), the note currently has an outstanding balance of approximately $200,000 (U.S.). Under the amendment, the note provides for up to $865,000 (U.S.) and continues to bear interest at a rate of 12 per cent per annum, calculated daily. Interest is payable upon maturity of the note, which is now the earlier of the closing of Premier's proposed acquisition of Nuclear Fuels Inc. and Sept. 30, 2025.

The company may draw down on the note in increments of no less than $100,000 (U.S.) on a weekly basis. A minimum of six months' interest will be payable regardless of the repayment date. All other terms of the note remain substantially consistent with the original terms.

The additional principal under the note is expected to be used exclusively to finance claim maintenance fees payable to the U.S. Bureau of Land Management and for other similar working capital purposes. The amendment supports Premier American's near-term capital needs as the company continues to advance its uranium portfolio in the United States.

MI 61-101; valuation and minority approval exemptions

The lender is an insider of the company. As a result, pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101), the amendment constitutes a related party transaction of Premier. Premier is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, specifically: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the common shares of PUR are not listed on a market specified in MI 61-101, and (ii) the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61- 101, as the fair market value of the amendment does not exceed 25 per cent of the company's market capitalization (as determined under MI 61-101).

The amendment was approved by members of the board of directors if the company who are independent for the purposes thereof, being all directors other than Tim Rotolo, the managing member of Sachem Cove Partners. Neither the company nor, to the knowledge of the company after reasonable inquiry, Sachem Cove Partners, has knowledge of any material information concerning the company or its securities that has not been generally disclosed. No special committee of the board was established in connection with the amendment as the entire board was engaged in respect thereof, and, other than Mr. Rotolo, who abstained from voting on the amendment, no materially contrary view or abstention was expressed or made by any director of the company in relation thereto.

About Premier American Uranium Inc.

Premier American Uranium is focused on the consolidation, exploration and development of uranium projects in the United States, aiming to strengthen domestic energy security and support the transition to clean energy. One of Premier's key strengths is the extensive landholdings in three prominent uranium-producing regions in the United States: the Grants mineral belt of New Mexico, the Great Divide basin of Wyoming and the Uravan mineral belt of Colorado.

With current resources and defined resource exploration targets, Premier is actively advancing its portfolio through work programs. Premier benefits from strong partnerships, with backing from Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd. and other institutional investors. The company's distinguished team had extensive experience in uranium exploration, development, permitting and operations, as well as uranium-focused mergers and acquisitions -- positioning Premier as a key player in advancing the U.S. uranium sector.

We seek Safe Harbor.