First American Uranium Inc. to Enter Quebec with Planned Strategic Acquisition of Rare Earth Elements Niobium Properties in the Grenville Province, Quebec

Executive Summary

• First American Uranium Inc. entered into a definitive agreement to acquire 100% of five mineral properties in Quebec’s Grenville Province, marking the company’s first entry into the province.
• The transaction will be funded by issuing 4,020,000 common shares at a deemed price of $0.85 per share to the vendors; the shares are subject to a four‑month‑plus statutory hold period.
• The acquired land package comprises 39 claims covering 2,240 ha, with an additional 480 claims (27,696 ha) already staked by the company, for a total of 519 claims covering 29,936 ha.

Key Details

• Properties Acquired: Five contiguous properties located in La Haute‑Côte‑Nord, La Tuque, and Le Fjord‑du‑Saguenay municipalities.
• Strategic Significance: Provides a foothold in Quebec’s high‑prospectivity Grenville Province for rare earth elements (REE), niobium (Nb), and nickel‑copper (Ni‑Cu) critical minerals.
• Historical Sampling Results:
• Blanchette‑1 (REE): 2.7 % Total Rare Earth Elements (TREE), 4,090 ppm Nd.
• Sabot (REE): 0.21 % TREE, 365 ppm Nd.
• Bardy (REE): 0.68 % TREE, 1,150 ppm Nd.
• Seigneurie Deposit (Nb‑REE): 3,190 ppm Nb and 4,031 ppm TREE from a grab sample.
• Ni‑Cu Sample: Blanchette‑1 bis returned 0.25 % Cu and 0.10 % Ni.
• Land Size & Claims:
• Acquired: 39 claims, 2,240 ha.
• Additional stakes: 480 claims, 27,696 ha.
• Total after acquisition: 519 claims, 29,936 ha.
• Consideration Shares: 4,020,000 common shares at $0.85 per share; issuance exempt from prospectus requirements; statutory hold period of four months and one day.
• Closing Conditions: Subject to customary conditions, including approval by the Canadian Securities Exchange (CSE). No board or management changes anticipated.
• Market Context: Global niobium market valued at ~US$2.9 bn in 2024; projected US$4.6 bn by 2032 (~7 % CAGR), driven by steel, aerospace, defense, and quantum computing applications.

Notable Quotes

“Our team believes that the Grenville Province of Quebec is the most prospective geological setting in the province for critical mineral deposits… This acquisition will provide URM with a strategic entrance into a world‑class jurisdiction… We intend to pursue non‑dilutive funding opportunities, including engagement with U.S. government agencies, to advance development while preserving shareholder value.” – Murray Nye, CEO

Materiality Assessment: Material – Positive**