First American arranges $2.5-million private placement

Mr. Murray Nye reports FIRST AMERICAN ANNOUNCES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES First American Uranium Inc. will proceed with a non-brokered private placement of up to 1,811,594 flow-through common shares in the capital of the company at $1.38 per FT share for gross proceeds of up to $2.5-million. Each FT share will be issued as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada) and in Section 359.1 of the Taxation Act (Quebec) with respect to purchasers in Quebec. In connection with the offering, the company will pay finders' fees of up to 7.0 per cent of the gross proceeds raised by the company from the sale of FT shares to subscribers directly introduced to the company by eligible finders. In addition, the company will issue to eligible finders non-transferable finders' warrants of up to 7.0 per cent of the number of FT shares sold in the offering. Each finders' warrant will entitle the holder to acquire one non-flow-through common shares in the capital of the company at a price of $1.38 per share for a period of 24 months from the date of issuance, all in accordance with the policies of the Canadian Securities Exchange (CSE). The gross proceeds from the issuance of the FT shares will be used to incur eligible Canadian exploration expenses in Quebec that qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada). The company has agreed to renounce such qualifying expenditures with an effective date of no later than Dec. 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of FT shares, and incur such expenses by Dec. 31, 2026. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. The offering is not subject to a minimum aggregate amount of subscriptions. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the CSE. "This flow-through financing provides us with the resources to advance our exploration programs in Quebec in a meaningful way," said Murray Nye, chief executive officer of First American Uranium. "We're encouraged by the strong investor interest and look forward to accelerating work on our properties as we continue to unlock the potential of our critical minerals portfolio." About First American Uranium Inc. First American Uranium is a North American mineral exploration company focused on the acquisition and development of precious, base and critical mineral assets. Its portfolio includes the Silver Lake property in British Columbia's Omineca mining division and a recently acquired land package in Quebec's Grenville province. The Quebec properties add exposure to rare-earth elements (REE), niobium (Nb) and nickel-copper (Ni-Cu) occurrences, expanding the company's footprint into critical minerals that are strategically important for energy and defence applications. We seek Safe Harbor.