Mr. Colin Healey reports

PREMIER AMERICAN URANIUM FILES TECHNICAL REPORT FOR CEBOLLETA URANIUM PROJECT

Premier American Uranium Inc. has filed a technical report containing its preliminary economic assessment (PEA) and updated mineral resource estimate (MRE) for the Cebolleta uranium project in New Mexico. The PEA outlines the potential for a low-capex (capital expenditure), long-life uranium operation with strong baseline economics and several clear avenues for possible enhancement.

The technical report, which includes both the PEA and the updated MRE, was prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects by SLR International Corp., an independent consulting firm with extensive experience in mining and mineral processing, including uranium in the United States. The technical report is available on SEDAR+ under the company's issuer profile.

Highlights

• Base case production and mine life:
  • Average annual production of approximately 1.4 million pounds U3O8 (triuranium octoxide), with peak years approaching 2.0 Mlb;
  • Total production of 18.1 Mlb U3O8 over a 13-year mine life.
• Project economics (after tax):
  • After-tax net present value (NPV 8 per cent) of $83.9-million (U.S.) (pretax NPV 8 per cent: $106-million (U.S.));
  • Internal rate of return (IRR) of 17.7 per cent;
  • Life-of-mine (LOM) free cash flow of $287-million (U.S.);
  • LOM operating cash flow of $496-million (U.S.).
• Capital and operating costs:
  • Direct capex: $64.2-million (U.S.);
  • Indirect costs (EPCM/owner's/indirect): $19.3-million (U.S.);
  • Contingency (35 per cent): $29.2-million (U.S.);
  • Average operating cost: $41.60 (U.S.) per pound U3O8 recovered;
  • Heap leach processing costs: $16.72 (U.S.) per short ton.
• Uranium price assumptions and sensitivity:
  • Base case uranium price: $90 (U.S.)/lb U3O8;
  • Sensitivity to higher uranium prices:
    • $154-million (U.S.) NPV at $100 (U.S.)/lb;
    • $325-million (U.S.) NPV at $125 (U.S.)/lb;
    • $488-million (U.S.) NPV at $150 (U.S.)/lb.
• Upside potential:
  • Improved metallurgical recoveries could significantly enhance project economics:
    • Base case after-tax NPV of $84-million (U.S.) could increase by approximately 90 per cent to $159-million (U.S.) using a 90-per-cent metallurgical recovery.
• Updated MRE:
  • Indicated resource: 20.3 Mlb eU3O8 (8.3 Mst grading 0.12 per cent eU3O8, up 1.7 Mlb eU3O8 or 9 per cent compared with the 2024 technical Report);
  • Inferred resource: 7.0 Mlb eU3O8 (3.6 Mst grading 0.10 per cent eU3O8 or 43 per cent compared with the 2024 technical report).

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.

About the Cebolleta uranium project and mineral resources

Located in New Mexico, the Cebolleta uranium project is a past-producing property with extensive historical work and infrastructure. Its location in one of the premier uranium districts in the United States provides strategic advantages, including proximity to utilities and existing processing facilities.

Qualified person

The scientific and technical information contained in this news release relating to the PEA and MRE was reviewed and approved by Mark B. Mathisen, CPG, Stuart Collins, PE, Jeffrey L. Woods, MMSA QP, Lee (Pat) Gochnour, MMSA QP, and Matthew Behling, PE, for SLR International Corp., the authors of the current technical report, each of whom is a qualified person (as defined in NI 43-101).

Mr. Mathisen (QP) has verified the exploration, sampling, analytical and test data supporting the technical report through review and audit of historical and recent databases, comparison with original geophysical logs and assay records, and inspection of drill hole collar, interval, and grade data for completeness and accuracy. Verification included a site visit on Sept. 12, 2023, review of drilling and downhole logging procedures, and evaluation of the 2023 twin-hole and 2025 Willie P database audits, which confirmed strong correlation with historical results and overall data reliability. Although no historical core or quality assurance/quality control reference materials are available and most legacy holes lack deviation surveys, no limitations were placed upon the QP during the verification process, and the QP considers the verification methods and resulting database adequate for mineral resource estimation and compliant with NI 43-101 requirements.

Additional scientific and technical information in this news release not specific to the PEA and MRE has been reviewed and approved by Dean T. Wilton, PG, CPG, MAIG, a consultant of Premier American Uranium, who is a qualified person (as defined in NI 43-101).

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 (mergers and acquistions), the company is well positioned as a key player in advancing the U.S. uranium sector.

We seek Safe Harbor.