Mr. Colin Healey reports

PREMIER AMERICAN URANIUM SECURES PART THREE DRILLING PERMIT FOR THE CEBOLLETA PROJECT, NEW MEXICO

Premier American Uranium Inc. has received an additional Part 3 drilling permit for its Cebolleta uranium project located in Cibola county, New Mexico, United States. The permit was granted by the New Mexico Mining and Minerals Division (MMD) for drilling up to 25 boreholes utilizing 25 drill pad surface areas to explore for more uranium on the project.

This new permit represents a significant milestone in the project's advancement and development path and demonstrates the strength of Premier American Uranium's technical team in managing the permitting process as well as an effective working relationship with regulatory authorities. The permit application, submitted in March, 2024, was designed to facilitate the additional confirmation drilling anticipated to be required to validate historic drilling on the project for inclusion in an initial mineral resource estimate (MRE). In June, 2024, Premier American Uranium completed the MRE ahead of schedule relying on the successful confirmation drilling completed in 2023 and negating the necessity for much of the additional confirmation drilling contemplated in this permit application.

As a result, Premier American Uranium expects to realize substantial cost savings over its original confirmation drilling budget estimate under this permit with increased flexibility and discretion on drilling. With the permit now secured, Premier American Uranium is contemplating drilling up to five technical confirmation holes in Area 3 while examining amending both this new permit and the pre-existing Part 3 permit issued in 2023 for resource expansion drilling. The Premier American Uranium technical team completed extensive archeological and biological clearance studies at the project in fall of last year in support of amending this permit for expansion drilling and can immediately begin the amendment process.

Premier American Uranium's goals for 2025 for the Cebolleta project include:

• Continuation of continuing cultural, archeological and biological studies in support of a Part 4 permit application (which allows for more robust and flexible drilling);
• Conduct drill work under the newly issued Part 3 permit;
• Update the Cebolleta MRE;
• Materially derisk the project with completion of a preliminary economic assessment (PEA) targeting summer 2025.

Note: The technical report (as defined herein) with an effective date of April 30, 2024, includes an indicated mineral resource estimate of 18.6 million pounds of eU3O8 (equivalent triuranium octoxide) (6.6 million short tons at an average grade of 0.14 per cent eU3O8) and an inferred mineral resource estimate of 4.9 million pounds of eU3O8 (2.6 million short tons at an average grade of 0.10 per cent eU3O8).

Colin Healey, chief executive officer of Premier American Uranium, commented: "The receipt of this permit underscores the diligence and expertise of our team in navigating the permitting process efficiently and effectively. With multiple milestones achieved ahead of schedule at Cebolleta, we are now positioned to rapidly advance and derisk the project in 2025. We will aim to initiate certain technical drilling, as recommended in the [National Instrument] 43-101 technical report on the project, as well as potential resource expansion drilling (partly contingent on permit amendment), all in preparation for targeted delivery of an updated MRE and PEA this year. By leveraging a strategic and cost-conscious approach, we aim to deliver maximum value for our stakeholders, already materializing with the delivery of the MRE in June, 2024, well ahead of plan and significantly reducing expected drilling costs and paving a path to establishing preliminary economics much earlier than we anticipated. We look forward to providing further updates on our plans as they are finalized."

The project has been a cornerstone of Premier American Uranium's portfolio since its acquisition in 2024. Uranium mineralization at the project is the northern extension of the Jackpile-Paguate trend of uranium deposits, which is one of the largest sandstone-hosted uranium endowments in the world. Collectively, the mines of the Laguna mining district produced more than 100 million pounds of U3O8 from the Jackpile-Paguate trend during the period from 1951 to 1983, as documented by geologists of the New Mexico Bureau of Geology and Mineral Resources and the U.S. Department of Energy. The northern continuation of the Jackpile-Paguate trend of uranium deposits onto the southern part of the project property is well established, but the extent of mineralization is not fully defined, representing several important potential exploration and growth opportunities for the company.

Qualified person statement

The scientific and technical information contained in this news release was reviewed and approved by Mike Thompson, PGeo, a consultant to Premier American Uranium who is a qualified person (as defined in NI 43-101, Standards of Disclosure for Mineral Projects.

For additional information regarding the project, including details of the MRE and data verification related to certain scientific and technical information described in this news release, please see the technical report titled "Technical Report on the Cebolleta Uranium Project, Cibola County, New Mexico, USA," dated June 17, 2024, and with an effective date of April 30, 2024, which is available under the company's profile on SEDAR+.

About Premier American Uranium Inc.

Premier American Uranium is focused on the consolidation, exploration and development of uranium projects in the United States, aiming to strengthen domestic energy security and support the transition to clean energy. One of Premier American Uranium's key strengths is the extensive landholdings in three prominent uranium-producing regions in the United States: the Grants mineral belt of New Mexico, the Great Divide basin of Wyoming and the Uravan mineral belt of Colorado.

With current resources and defined resource exploration targets, Premier American Uranium is actively advancing its portfolio through work programs. Premier American Uranium benefits from strong partnerships, with backing from Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd. and other institutional investors. The company's distinguished team had extensive experience in uranium exploration, development, permitting and operations, as well as uranium-focused mergers and acquisitions -- positioning Premier American Uranium as a key player in advancing the U.S. uranium sector.

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