Dr. Nathan Chutas reports

SKELETON COAST URANIUM COMPLETES FIRST PHASE OF DIGITISATION OF HISTORICAL EXPLORATION DATA FOR NAMIBIA EPLS 8617, 8208, AND 9727

Skeleton Coast Uranium Corp. has completed the first phase of digitization of historical data on exclusive prospecting licences (EPLs) 8617, 8208 and 9727, three of the company's five EPLs located in the Erongo region of Namibia, one of the world's top three uranium-producing countries.

Skeleton Coast Uranium has been undertaking historical data digitization across all five EPLs in order to develop an evidence-based targeting assessment to prioritize the fieldwork component of the 2026 exploration program. Compilation and digitization of historical exploration data from areas around and including EPLs 8617, 8208 and 9727, comprising regional geological mapping, historical exploration reports, historical regional airborne geophysics, historical radiometrics and historical geochemistry, was completed by Practara Pty. Ltd. Practara is also reprocessing the historical airborne magnetic and electromagnetic survey data to refine targets in areas with geophysical coverage. Further integration and analysis of these data sets are being used to prioritize targets for Skeleton Coast Uranium's 2026-2027 exploration programs, which are expected to include additional airborne and ground geophysics, field mapping and surface sampling, none of which has been completed over large portions of the EPLs. National Instrument 43-101 technical reports on EPLs 8617, 8208 and 9727, prepared for the company by Practara, were filed on SEDAR+ in July, 2026.

"In finalizing the digitization of the data sets for EPLs 8617, 8208 and 9727, Skeleton Coast Uranium has consolidated a comprehensive digital record of historical exploration providing valuable insights into the exploration potential of these large-scale uranium licences located in Namibia's Erongo region," commented Dr. Nathan Chutas, chief executive officer of Skeleton Coast Uranium. "EPLs 8617, 8208 and 9727 have seen very limited modern exploration and more comprehensive geophysical data, geochemistry and radiometrics will provide data to help us identify our best targets. Given the low exploration maturity and the established uranium endowment of the region, the company looks forward to the upcoming exploration program."

EPL 8617

EPL 8617 comprises 10,491.5 hectares and is located in the Erongo region of Namibia, approximately 75 kilometres (km) east of the coastal town of Swakopmund (approximately 130 km by road). On a regional scale, EPL 8617 lies within the southern central zone of the northeast-trending branch of the Damara orogen, an area that includes the Rossing mine and similar uranium-enriched alaskites at the Husab mine.

Geology similar to that hosting the Rossing, Husab and Valencia deposits is interpreted to project toward EPL 8617. Historical reports from the area of EPL 8617 suggest that alaskites hosted in structurally prepared (dilational) Damara metasediments in the Valencia-Khan corridor project into the EPL. Radiometric anomalies along this trend may indicate alaskite-hosted uranium mineralization, although radiometric response measures equivalent uranium (eU) and is not, of itself, confirmation of uranium mineralization.

EPL 8617 is situated approximately 18 km east of the Rossing mine and approximately 17 km east of the Husab mine. EPL 8617 is situated on trend with a regional geological structure, the Khan Syncline, which projects northeast of the Rossing and Husab deposits, both of which are major, operational open-pit uranium mines. Uranium mineralization in this area is hosted in Pan-African age alaskitic granite-pegmatite sheets and veins that intruded a package of Damara metasediments. The uranium deposits in this area are primary uranium deposits of the intrusive type according to the International Atomic Energy Agency (IAEA) classification scheme for uranium deposits.

EPL 8208

EPL 8208 covers approximately 7,840.7 hectares and is contiguous along its southern boundary with the mining licence (ML) area (ML 140 and ML 172) hosting the Langer Heinrich mine, one of the most significant calcrete-hosted uranium deposits globally, with mineral ore reserves including pits with proved reserves of 48.3 million tonnes (t) grading 488 parts per million (ppm) U3O8, pits with probable reserves of 10.0 million t grading 464 ppm U3O8 and stockpiles with proved reserves of 26.5 million t grading 369 ppm U3O8, for a total of 84.8 million t of reserves grading 448 ppm U3O8 for 83.8 million pounds (lb) of contained U3O8 (estimated as at November, 2021, at a 250 ppm U3O8 cut-off grade). The Langer Heinrich nine is located in west-central Namibia approximately 80 km east of Swakopmund and 85 km northeast of the deepwater port of Walvis Bay.

Based on an evidence-based prospectivity assessment of digitized historical exploration data, EPL 8208 is considered prospective for palaeochannel- and calcrete-hosted uranium targets that may be analogous to Langer Heinrich-style uranium mineralization. Interpreted tributaries within the EPL to the palaeochannel system that hosts the Langer Heinrich deposit display elevated radiometric signatures and constitute the higher-priority targets on EPL 8208.

The Langer Heinrich deposit is a calcrete-hosted secondary uranium deposit associated with valley-fill sediments in an extensive Cenozoic (Miocene-Pliocene) palaeodrainage system ("NI 43-101 Technical Report on Langer Heinrich Uranium Project, Erongo Region, Republic of Namibia," prepared for Paladin Energy Ltd. by AMC Consultants Pty. Ltd., dated March 31, 2024). The deposit extends over a strike length of approximately 15 km. Mineralization is near surface, between one metre (m) and 30 m thick, and between 50 m and 1,100 m wide, depending on the width of the palaeovalley. Uranium at Langer Heinrich occurs as carnotite, a potassium uranyl vanadate containing both uranium and vanadium, deposited as thin films lining cavities and fracture planes, and as grain coatings and disseminations.

EPL 9727

EPL 9727 covers approximately 12,081 hectares and is located approximately 25 to 30 km southeast of the Husab mine and approximately 20 to 25 km east of the Rossing mine. EPL 9727 is located within the central zone of the Damara orogen, regionally comprised of metasedimentary successions of the Nosib and Swakop groups that are intruded by late- to posttectonic leucogranitic and alaskitic bodies, some of which are uraniferous.

EPL 9727 occupies a transitional geological setting, with the northeastern sector interpreted to include Cenozoic palaeochannel-related cover and the southwestern sector containing exposures of Damara basement lithologies, including the Bloedkoppie granite and associated pegmatites. These two geologically distinct domains contain prospective ground for two different styles of uranium target. The northeastern area is prospective for palaeochannel-hosted, calcrete-type secondary uranium mineralization. The geology in the southwestern area is permissive for alaskite-hosted uranium mineralization.

Corporate communications engagement

The company also announces that it engaged HAG Global Consulting GmbH to provide corporate communications and investor relations advisory services, in the form of investor e-mails and articles. HAG Global is a Germany-based corporate communications firm that specializes in investor relations advisory. HAG Global received 20,000 euros as compensation for services provided. HAG Global is not engaged on a continuing basis, though there may be circumstances in the future where the company re-engages the adviser to provide further services, details of which will be disclosed by the company. The company is at arm's length to HAG Global and compensation of HAG Global does not include any securities of the company. To the knowledge of the company, HAG Global does not have any interest, directly or indirectly, in the securities of the company.

About Skeleton Coast Uranium Corp.

Skeleton Coast Uranium holds options to acquire 70-per-cent to 75-per-cent controlling interests in five exclusive prospecting licences (EPLs) located in the Erongo region of Namibia, a country that accounted for approximately 12 per cent of global mined uranium production in 2024 (World Nuclear Association). The EPLs cover 610 square km and position the company as one of the largest licence holders in the region. All of the concessions are reported in historical records to host uranium mineralization (unverified historical information) and are located either adjacent to, or within approximately 30 km of, one of the region's three uranium mines (Langer Heinrich, Rossing or Husab). Under the terms of its option agreements, Skeleton Coast Uranium is required to incur $5-million in exploration expenditures across the five EPLs by June, 2028.

Skeleton Coast Uranium trades on the TSX Venture Exchange under the symbol SKEL, on the OTC under the symbol GLIIF and on the Frankfurt Stock Exchange under the symbol KDM0. Additional information about Skeleton Coast Uranium can be found on SEDAR+ and the company's website.

Qualified person

Dr. Nathan Chutas, PhD, CPG, chief executive officer of the company, is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information contained in this news release. Dr. Chutas is a certified professional geologist registered with the American Institute of Professional Geologists. Dr. Chutas is not independent of the company within the meaning of Section 1.5 of NI 43-101. The historical exploration information referred to in this news release has not been verified by the qualified person and is not being treated as current.

Technical information

The historical technical information referenced above is derived from open-file exploration reports lodged with the Geological Survey of Namibia and the Ministry of Mines and Energy, and from the Geological Survey of Namibia publication, The Mineral Resources of Namibia -- Uranium (1988), by H. Roesener and C.P. Schreuder. This historical information has not been independently verified by the company or by its qualified person, has not been reviewed for compliance with current sampling, analytical or quality assurance and quality control practice, and should not be relied upon. It is provided solely to illustrate the prior work history on the properties. The exploration targets described above are conceptual in nature; there has been insufficient exploration to define a mineral resource on any of the company's EPLs and it is uncertain whether further exploration will result in the delineation of a mineral resource. Radiometric anomalies reflect equivalent uranium (eU) derived from gamma response and do not, of themselves, confirm the presence of uranium mineralization.

Information in this news release concerning the Rossing, Husab and Langer Heinrich mines has been sourced from public disclosure by the operators of those mines. The Langer Heinrich mineral ore reserves include pits with proved reserves of 48.3 million t grading 488 ppm U3O8, pits with probable reserves of 10.0 million t grading 464 ppm U3O8 and stockpiles with proved reserves of 26.5 million t grading 369 ppm U3O8, for a total of 84.8 million t of reserves grading 448 ppm U3O8 for 83.8 million lb of contained U3O8 was estimated as at November, 2021, at a 250 ppm U3O8 cut-off grade under the JORC code (2012), and is reported in the "NI 43-101 Technical Report on Langer Heinrich Uranium Project, Erongo Region, Republic of Namibia," prepared for Paladin Energy by AMC Consultants and dated March 31, 2024. The company's qualified person has been unable to verify this information and the information is not necessarily indicative of the mineralization on the company's EPLs. The company has no interest in, or right to acquire any interest in, the Rossing, Husab or Langer Heinrich properties. Mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the company's EPLs.

We seek Safe Harbor.