Mr. Colin Healey reports

PREMIER AMERICAN URANIUM ANNOUNCES CLOSING OF BOUGHT DEAL PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$15 MILLION

Premier American Uranium Inc. has closed its previously announced bought deal private placement for gross proceeds of approximately $15-million, which includes the exercise in full of the underwriter's option. Pursuant to the offering, the company sold 16,666,666 units of the company at a price of 90 cents per unit.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.26 at any time on or before Feb. 3, 2029.

Red Cloud Securities Inc., as lead underwriter and sole bookrunner, together with Haywood Securities Inc. and Beacon Securities Ltd., acted as underwriters under the offering. As consideration for their services, the underwriters received aggregate cash fees of $823,468.46 and 914,964 non-transferable common share purchase warrants. Each broker warrant is exercisable to acquire one common share at the offering price at any time on or before Feb. 3, 2029.

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.

In accordance with National Instrument 45-106 (Prospectus Exemptions), a portion of the units were issued to Canadian purchasers 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 immediately freely tradable in accordance with applicable Canadian securities legislation. A portion of the units were also sold to purchasers outside of Canada pursuant to an exemption from the prospectus requirement in Canada available under Ontario Securities Commission Rule 72-503 and, accordingly, are not subject to a four-month hold period in Canada.

There is an amended and restated offering document dated Jan. 22, 2026, related to the offering and to 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.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

IsoEnergy Ltd. and Sachem Cove Special Opportunities Fund LP, being insiders of the company, are participating directly or through affiliates in the offering and are expected to purchase an aggregate of 2,556,500 units for $2,300,850. The insider participation constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has determined that the insider participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Section 5.5(a) and Section 5.7(1)(a) of MI 61-101 as neither the fair market value of securities issued to the parties, nor the consideration paid by the parties exceeded 25 per cent of the company's market capitalization.

The company also announces that it has granted 2,115,000 incentive stock options to certain directors, officers, consultants and advisers of the company, pursuant to the company's long-term omnibus incentive plan. Each option is exercisable to acquire one common share at a price of 90 cents per common share for a period of five years, vesting in tranches over a period of three years. The grant of the options is subject to 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, 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.