Mr. Colin Healey reports

PREMIER AMERICAN URANIUM ANNOUNCES BOUGHT DEAL PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$10 MILLION

Premier American Uranium Inc. has entered into an agreement with Red Cloud Securities Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase for resale 11,111,112 units of the company at a price of 90 cents per unit on a bought deal basis in a private placement for gross proceeds of approximately $10-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of $1.26 at any time on or before that date which is 36 months after the closing date (as herein defined).

The company will grant to the underwriters an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 2,222,222 units at the offering price for additional gross proceeds of up to approximately $2-million. The underwritten offering and the securities issuable upon exercise of the overallotment option shall be collectively referred to as the offering.

The company intends to use the net proceeds of the offering for the exploration and advancement of the company's uranium projects in New Mexico and Wyoming, as well as for working capital and general corporate purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), a portion of the units will be offered for sale to purchasers resident in all of the provinces of Canada except Quebec pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The securities sold to purchasers resident in Canada under the listed issuer financing exemption are expected to be immediately freely tradable in accordance with applicable Canadian securities legislation.

A portion of the units will also be offered in the United States or to, or for the account or benefit of, U.S. persons by way of a private placement pursuant to the exemptions from the registration requirements provided for under the U.S. Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The securities offered to purchasers outside of Canada will not be sold pursuant to the listed issuer financing exemption, but instead will be issued pursuant to an exemption from the prospectus requirements in Canada available under Ontario Securities Commission Rule 72-503 and are also not expected to be subject to a four-month hold period in Canada.

There is an offering document dated Jan. 21, 2026, related to the offering and the use by the company of the listed issuer financing exemption that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

As consideration for the services rendered by the underwriters in connection with the offering, the company will pay to the underwriters a cash commission of 6.0 per cent of the gross proceeds of the offering (subject to reduction on certain president's list orders) and a number of broker warrants equal to 6.0 per cent of the number of units issued by the company under the offering (subject to reduction on certain president's list orders). Each broker warrant will be exercisable to acquire one common share of the company at a price of 90 cents at any time on or before that date which is 36 months after the closing date.

The offering is anticipated to close on or about Feb. 3, 2026, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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

We seek Safe Harbor.