Mr. Colin Healey of Premier American reports

PREMIER AMERICAN URANIUM COMPLETES ACQUISITION OF NUCLEAR FUELS

Premier American Uranium Inc. and Nuclear Fuels Inc. have completed the previously announced arrangement whereby Premier American Uranium has acquired all of the issued and outstanding common shares of Nuclear Fuels.

The arrangement results in Premier American acquiring 100 per cent of the Nuclear Fuels shares and Nuclear Fuels becoming a wholly owned subsidiary of Premier American. Pursuant to the arrangement, Nuclear Fuels shareholders received 0.33 of a common share of Premier American for each Nuclear Fuels share held. In aggregate, Premier American issued 32,521,748 Premier American shares under the arrangement.

Colin Healey, chief executive officer of Premier American, commented: "With the completion of the Nuclear Fuels transaction, Premier American Uranium expands and enhances one of the strongest exploration portfolios in the United States, anchored by the Kaycee and Cyclone exploration projects in Wyoming, representing the largest combined ongoing drilling program in the state. With the acquisition of Kaycee, Premier American Uranium joins Cameco Corp., Energy Fuels Inc. and Uranium Energy Corp. as a major landholder in the highly productive Powder River uranium district.

"In just two short years, we have successfully executed two transformative transactions, further advancing our targeted strategy of consolidation, exploration and development across the U.S. uranium sector. We continue to cultivate our pipeline of strategic opportunities, leveraging our highly experienced technical team to identify and assess targets for further expansion, and remain committed to advancing our core assets to create long-term value. We warmly welcome Nuclear Fuels shareholders to Premier American Uranium and look forward to continuing to deliver on our growth strategy. We would also like to extend our sincere appreciation to the departing directors for their valuable contributions and commitment, which have been instrumental in positioning the company for this next stage of growth."

The Nuclear Fuels shares are expected to be delisted from the Canadian Securities Exchange at market close on Sept. 16, 2025. Premier American expects to cause Nuclear Fuels to apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.

Board of directors and management

In connection with closing of the arrangement, Premier American's board of directors now comprises seven members, including chairman Tim Rotolo, Marty Tunney, Michael Harrison and Jon Indall, with Gregory Huffman and Brahm Spilfogel joining from Nuclear Fuels, and Colin Healey, CEO of Premier American Uranium, also being added. Daniel Nauth and Michael Henrichsen have resigned from the company board in connection with closing of the arrangement. The senior management team remains unchanged.

Full details of the arrangement and certain other matters are set out in the management information circular of Nuclear Fuels dated July 10, 2025, and can be found under Nuclear Fuels's issuer profile on SEDAR+. A copy of the early warning report of Premier American in connection with its acquisition of the Nuclear Fuels shares will be filed under Premier American's issuer profile on SEDAR+ and can be obtained by contacting Premier American.

Additional information for former Nuclear Fuels shareholders

Pursuant to the arrangement, former Nuclear Fuels shareholders are entitled to receive 0.33 of a Premier American share for each Nuclear Fuels share held. In order to receive Premier American shares in exchange for their Nuclear Fuels shares, former registered Nuclear Fuels shareholders must complete, sign, date and return (together with the certificate or DRS statement representing their Nuclear Fuels shares) the letter of transmittal that was mailed to them prior to closing of the arrangement. The letter of transmittal is also available under Nuclear Fuels's issuer profile on SEDAR+ and by contacting Odyssey Trust Company, the depositary for the arrangement, by telephone at 587-885-0960 or by e-mail at: corp.actions@odysseytrust.com.

For those former Nuclear Fuels shareholders whose Nuclear Fuels shares are registered in the name of a broker, investment dealer, bank, trust company, trust, or other intermediary or nominee, they should contact such nominee for assistance in depositing their Nuclear Fuels shares and should follow the instructions of such intermediary or nominee.

In connection with the arrangement, Premier American engaged Haywood Securities Inc. as its financial adviser. As partial consideration for the financial advisory services provided by Haywood, Premier American has issued 138,942 Premier American shares to Haywood at a deemed price of $1.2955 per Premier American share.

About Premier American Uranium Inc.

Premier American Uranium is focused on consolidating, exploring and developing uranium projects across the United States to strengthen domestic energy security and advance the transition to clean energy. The company's extensive land position spans five of the nation's top uranium districts, with active work programs under way in New Mexico's Grants mineral belt and Wyoming's Great Divide and Powder River basins.

Backed by strategic partners including Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd. and other leading institutional investors, Premier American is advancing a portfolio supported by defined resources and high-priority exploration and development targets. Led by a distinguished team with deep expertise in uranium exploration, development, permitting, operations and uranium-focused M&A (merger and acquisition), the company is well positioned as a key player in advancing the U.S. uranium sector.

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