Mr. Scott Melbye reports

URANIUM ROYALTY CORP. PROVIDES UPDATE ON PHYSICAL URANIUM PURCHASES

Uranium Royalty Corp. has secured additional fixed-price uranium purchase commitments totalling one million pounds U3O8 (triuranium octoxide) in the current quarter. Deliveries will occur at Cameco Corp.'s Blind River facility in Ontario, Canada, during the fourth quarter of 2023. The weighted average purchase price for such commitments is $70.44 (U.S.) per pound (TradeTech spot price is $73.50 (U.S.) per pound as at Oct. 26, 2023), which is expected to be satisfied through cash on hand and other liquid assets.

The company has received the first delivery of 300,000 pounds U3O8 under its purchase agreement with CGN Global Uranium Ltd. dated Nov. 17, 2021 (see news release dated Dec. 2, 2021). This agreement provides Uranium Royalty with exposure to an aggregate 500,000 pounds U3O8 from 2023 through 2025 at a weighted average price of $47.71 (U.S.) per pound. The delivery of the remaining 200,000 pounds is expected to be completed in June, 2024, and April, 2025.

These purchases will increase Uranium Royalty 's physical uranium inventory to approximately 2.65 million pounds U3O8 at weighted average cost of approximately $54.08 (U.S.) per pound (valued at approximately $195-million (U.S.) at the TradeTech spot price referenced herein).

Scott Melbye, the company's chief executive officer, stated: "In the early stages of this uranium bull market, we recognized an opportunity to grow our physical uranium holdings alongside our royalty business, which includes 20 diversified royalties on 18 projects. These strategic purchases provide shareholders exposure to the strong fundamentals supporting a rising uranium price and a future source of liquidity to acquire additional royalty and streaming assets as opportunities arise."

About Uranium Royalty Corp.

Uranium Royalty is the world's only uranium-focused royalty and streaming company and the only pure play uranium listed company on the Nasdaq Stock Market. Uranium Royalty provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies as well as through trading of physical uranium.

We seek Safe Harbor.