Global Uranium Provides Corporate Update

Progress in Athabasca Basin and Wyoming Projects Paves the Way for 2025 Exploration Activities

January 14, 2025

Calgary, Alberta — Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company”) is pleased to provide a summary of its accomplishments throughout 2024 and an exploration outlook for 2025. The Company has advanced its flagship Northwest Athabasca Project option (“NWA Project”) in Saskatchewan and its uranium exploration projects in Wyoming, positioning itself for an active and results-focussed year ahead.

In Saskatchewan, a series of critical environmental initiatives was completed on the NWA Project (please see news release dated November 26, 2024). In conjunction with the drill permitting process, a remediation program was completed, including soil testing to confirm successful clean-up (see news release dated November 26, 2024). Additionally, the NWA Project entered the “Duty to Consult” phase of permitting, as the Company continues to work collaboratively with local rights holders with the aim of moving the permitting process forward efficiently.

In Wyoming, the Company completed a preliminary ground-based radiometric survey and drone imagery program across multiple claim blocks, including the Airline #2 and Big Bend projects (see news release dated November 19, 2024). These surveys, which included radiometric data collection and the creation of high-resolution drone imagery and digital elevation models (DEMs), were key milestones in advancing exploration targets across the region. The collected data will help to identify anomalies and structural features that may indicate uranium mineralization. To advance its exploration strategy, the Company engaged Big Rock Geoscience (“BRG”), a leading geological consulting group based out of Minnesota. BRG has been tasked with compiling historical data, conducting detailed desktop studies, and refining drill targets for both the Wyoming projects (please see news release dated December 3, 2024).

Looking ahead, the Company is preparing for an active exploration season in 2025 with programs planned across its project portfolio. At the NWA Project, pending receipt of exploration permit approvals, the Company intends to commence a winter drilling program that will target high-priority areas identified through historical gravity and electromagnetic (EM) surveys. The initial program is anticipated to include up to 3,000 meters of diamond drilling, with a focus on testing for extensions of known uranium-bearing structures and identifying new mineralized zones. Results from this program are expected to inform follow-up exploration plans, which are slated to commence in summer 2025. In Wyoming, the Company plans to integrate the results of its radiometric and drone surveys with historical exploration data in order to generate priority ground follow-up targets and potential drill programs. The focus will remain on refining roll-front uranium targets, with additional ground-based geophysical surveys, including magnetic surveys and passive seismic programs being considered to support target development.

To finance its exploration efforts and planned exploration programs, along with other corporate development initiatives, the Company closed several financings during 2024. Most recently, on December 30, 2024, the Company raised C$1,000,000 by way of a “charity flow through private placement” pursuant to an arrangement with Wealth Creation Preservation & Donation Inc., whereby the Company issued 1,000,000 common shares of the Company (“Shares”) intended to qualify as “flow through shares” within the meaning of the Income Tax Act (Canada) (“Flow Through Shares”) (see news release dated December 30, 2024). The Company closed an additional “flow-through” private placement on December 23, 2024 for gross proceeds of approximately C$2,450,000, whereby the Company issued 3,266,666 units, with each unit comprised of one Share intended to qualify as a Flow Through Shares and one-half of one non-flow through Share purchase warrant, which each whole warrant entitling the holder to acquire one non-flow through Share at a price of $0.95 until December 22, 2026 (see news release dated December 17, 2024). In October, the Company raised an additional C$2,190 ,000 pursuant to the issuance of 4,285,714 non-flow through units, with each unit comprised of one non-flow through Share and one non-flow through Share purchase warrant exercisable at a price of $0.45 until October 11, 2026, and 1,725,000 flow-through units, with each unit comprised of one Share intended to qualify as a Flow Through Share and one non-flow through Share purchase warrant exercisable at a price of $0.45 until October 11, 2026 (see news release dated October 11, 2024).

“2024 was a pivotal year for Global Uranium featuring meaningful progress across the Northwest Athabasca and Wyoming projects,” said Ungad Chadda, CEO of Global Uranium. “With completion of environmental remediation and radiometric and drone surveys, and continued permitting efforts, there is a strong foundation for further progress. As we enter 2025, we look forward to exploration program advancement, including drilling at NWA and in Wyoming, to move toward unlocking the full value of these assets. Our focus remains on delivering results through disciplined, data-driven exploration in coordination with our partners.”

Qualified Person

Jared Suchan, Ph.D., P.Geo., VP of Exploration for the Company, and a Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical disclosure contained in this news release.
 

Quality Assurance and Quality Control

For a discussion of the Company’s QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled “NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00” N, Longitude 109°54’00” W”, with an effective date of June 27, 2024, which is available under the Company’s profile at www.sedarplus.ca.
 

On Behalf of The Management Team

Ungad Chadda

CEO

587-330-0045

info@globaluranium.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Duty to Consult phase of permitting; continued exploration activities at the Company’s Wyoming project.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca. 

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.