Mr. Esen Boldkhuu reports

URANIUMX DEPLOYS $3.8 MILLION TO ATHABASCA BASIN EXPLORATION

UraniumX Discovery Corp. has provided a consolidated update on exploration work completed, financing proceeds deployed and partner-financed exploration structured across its Athabasca basin property portfolio, following the filing of its condensed interim consolidated financial statements and management's discussion and analysis for the nine months ended May 31, 2026.

Highlights:

• $3,827,537 in cash deployed to the company's mineral property portfolio during the nine months ended May 31, 2026;
• The 2026 Murphy Lake diamond drill program was expanded mid-campaign from an initial target of 2,500 metres to 4,092 metres across nine holes, and was completed subsequent to the period-end;
• Anomalous radioactivity was intersected in five of the six target areas tested, defining two prospective trends; the Murphy Lake South trend has been extended to approximately 1.3 kilometres of strike length;
• Assay results from the 2026 Murphy Lake program remain pending at SRC Geoanalytical Laboratories in Saskatoon, Sask.;
• Option agreements over Zoo Bay and NeoCore, if exercised in full by the optionees, would direct up to $7.25-million of partner-financed exploration expenditures and $900,000 of cash payments to those properties, together with an aggregate of 27.58 million common shares of two listed issuers, allowing the company to concentrate its own treasury on Murphy Lake.

Financing proceeds deployed

During the nine months ended May 31, 2026, the company deployed $3,827,537 in cash to its mineral property portfolio.

Of the exploration advances, $2,584,909 relates to Murphy Lake and $765,510 to Zoo Bay. These are funds already placed with the operator and contractors for programs that were in progress or committed at the period-end. A substantial portion of the Murphy Lake advance financed the 2026 diamond drill program, which was completed subsequent to the period-end.

"More than $3.8-million in cash went into our properties over the last nine months, the large majority of it at Murphy Lake, where it funded a drill program we expanded by more than 60 per cent mid-campaign on the strength of what we were seeing in core. The proposed option agreements over Zoo Bay and NeoCore put up to $7.25-million of exploration funding behind those properties without drawing on our treasury," said Esen Boldkhuu, chief executive officer of UraniumX.

Murphy Lake

Murphy Lake is the company's flagship property, located in the northeastern Athabasca basin approximately five kilometres south of IsoEnergy Ltd.'s Hurricane deposit and approximately four km east of Cameco Corp.'s La Rocque Lake uranium zone. The company holds an option to acquire a 50-per-cent initial interest from F4 Uranium Corp., which acts as operator.

Work completed to date includes a 9.2-line-kilometre moving loop electromagnetic ground geophysical survey financed by the company and completed in May, 2026. The survey extended the known conductor system on the property and provided the plate models used to site the 2026 drill program.

The 2026 diamond drill program was the first drill test of those conductor extensions and is the largest exploration program undertaken on the property to date. It was expanded mid-campaign from an initial target of 2,500 metres to 4,092 metres across nine drill holes on the strength of results observed in core (see news release dated July 7, 2026).

Anomalous radioactivity was intersected in five of the six target areas tested, defining two prospective trends. The Murphy Lake North trend returned anomalous radioactivity over more than 330 metres of strike length, including visually identified pitchblende in drill hole ML26-015 (see news release dated June 2, 2026). The Murphy Lake South trend has been extended to a strike length of approximately 1.3 kilometres.

Assay results from the 2026 program remain pending. Samples have been submitted to SRC Geoanalytical Laboratories in Saskatoon, Sask. Once received, results will be integrated with the MLEM plate models and the structural interpretation to prioritize targets for a follow-up program.

Partner-financed exploration

The company has structured option agreements over two of its non-core Athabasca basin properties under which third party optionees may finance exploration and make cash and share payments in exchange for an interest in those properties. The arrangements are summarized below.

In addition to the amounts above, UraniumX retains a 2.0-per-cent net smelter return royalty on NeoCore and acts as operator of that property during the option period.

Each counterparty holds an option, is not obligated to make any payment, issue any shares or incur any expenditure, and may terminate its option in accordance with the terms of the applicable agreement. The Zoo Bay arrangement remains at the letter of intent stage, and is subject to the negotiation and execution of a definitive option agreement and to the approvals described below. There can be no assurance that either counterparty will exercise its option in whole or in part, or that any of the amounts set out above will be received or expended.

Zoo Bay

Zoo Bay comprises 15 mineral claims covering 19,850 hectares along the northeastern edge of the Athabasca basin, held through the company's wholly owned subsidiary 1477571 B.C. Ltd. The property benefits from a shallow unconformity at depths between zero and 200 metres.

As previously announced, the company has entered into a letter of intent with Pond Technologies Holdings Inc. regarding an option agreement for Zoo Bay, under which Pond may earn a 100-per-cent interest by issuing 16 million common shares of Pond, making aggregate cash payments of $350,000 over a three-year period and incurring an aggregate of $4.5-million in exploration expenditures on the project (see news release dated April 27, 2026). Completion remains subject to negotiation and execution of a definitive option agreement, TSX Venture Exchange approval, approval of Pond shareholders, and other customary conditions. There can be no assurance the transaction will be completed as proposed, or at all.

NeoCore

The NeoCore property consists of six mineral claims covering approximately 13,012 hectares in the eastern Athabasca basin, approximately 65 kilometres southeast of the McArthur River mine. On June 17, 2026, the company closed an option agreement with Gold'n Futures Mineral Corp. under which Gold'n may acquire a 100-per-cent interest over a 36-month period by issuing up to an aggregate of 11.58 million common shares of Gold'n, making aggregate cash payments of $550,000 and incurring an aggregate of $2.75-million in exploration expenditures. UraniumX retains a 2.0-per-cent net smelter return royalty and acts as operator of the property during the option period (see news release dated June 17, 2026).

IsoEnergy and Dieter Lake

On July 10, 2026, the company announced that it had entered into an agreement to acquire a 100-per-cent interest in the Dieter Lake uranium project in north-central Quebec, under which IsoEnergy Ltd., through its wholly owned subsidiary Consolidated Uranium Inc., would receive 18 million common shares of UraniumX and a 2.0-per-cent net smelter return royalty, and would become a strategic shareholder of the company (see news release dated July 10, 2026). Dieter Lake would be the company's first project outside of Saskatchewan and would broaden the portfolio beyond the Athabasca basin. Completion of the transaction remains subject to the satisfaction of customary closing conditions and the receipt of all required regulatory and exchange approvals.

European investor relations engagement

The company also announces that it engaged Plutus Invest & Consulting GmbH under a marketing service agreement, effective March 1, 2026, through Feb. 28, 2027. Plutus provides marketing and investor relations services in European markets -- including German-language investor materials, platform placements and investor communications -- performed by its principal, Marco Messina. The company paid Plutus 100,000 euros (approximately $160,641) in cash from working capital. The engagement includes no securities-based compensation. Plutus is arm's length to the company and, to the company's knowledge, holds no securities of the company. The engagement ought to have been announced when entered into. The company provides this disclosure to complete its public record and has implemented procedures to ensure timely disclosure of future engagements of this nature.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Ken Wheatley, PGeo, director of exploration of the company, a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

This news release contains references to neighbouring properties in which UraniumX has no interest. The disclosure of mineralization on neighbouring or proximal properties is not necessarily indicative of mineralization at any UraniumX property. The Hurricane deposit is a property of IsoEnergy and is not owned by UraniumX. The company's qualified person has not independently verified, and the company is not treating as its own, mineral resource information disclosed by IsoEnergy in respect of the Hurricane deposit or by Cameco in respect of La Rocque Lake uranium zone.

About UraniumX Discovery Corp.

UraniumX is a Canadian-based junior uranium exploration company focused on advancing high-potential assets in Saskatchewan's Athabasca basin, one of the world's premier uranium districts. The company's portfolio includes the Murphy Lake, Zoo Bay and NeoCore uranium properties, strategically positioned along the eastern margin of the basin near established infrastructure, and, subject to closing, the Dieter Lake project in Quebec. UraniumX's exploration programs integrate geophysics, drilling and academic research collaborations to enhance target generation and discovery potential.

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