Dark Star issues shares for Namibia uranium assets

Executive Summary

• Dark Star Minerals Inc. has issued 14 million common shares to Critical One Energy Inc. to acquire 100% of Critical One's interest in the Cobra North and Khan West uranium projects in Namibia.
• The shares were issued at a deemed price of 10 cents per share, subject to standard resale restrictions.
• This issuance is a milestone in the acquisition, with additional staged cash payments and share issuances expected over a two-year period, contingent on regulatory approvals and shareholder votes if control changes occur.

Key Details

• Transaction: Acquisition of 100% interest in Cobra North and Khan West uranium projects.
• Counterparty: Critical One Energy Inc.
• Shares Issued: 14,000,000 common shares.
• Deemed Price: $0.10 per share.
• Total Value of Shares Issued: $1,400,000 (based on deemed price).
• Location: Erongo uranium province, Namibia.
• Payment Structure:
  • Initial issuance of 14 million shares completed.
  • Agreement provides for additional staged cash payments and share issuances over a two-year period.
• Conditions:
  • Closing remains subject to customary conditions, including regulatory approvals and filings with the Canadian Securities Exchange (CSE).
  • Future share issuances may require shareholder approval if they result in the creation of a new control person under CSE policies.
• Related Agreements: Definitive option and property acquisition agreement dated August 12, 2025.

Notable Quotes

• "We are pleased to have completed this important step in our acquisition of the Cobra North and Khan West uranium projects. The issuance of these shares reflects our commitment to advancing high-potential uranium assets in Namibia and delivering long-term value to our shareholders." — Marc Branson, President and CEO