Gamma starts work programs at Green River, Mesa Arc

Mr. Gabriel Alonso-Mendoza reports GAMMA RESOURCES COMMENCES WORK PROGRAMS AT U.S. URANIUM PROJECTS IN UTAH AND NEW MEXICO Gamma Resources Ltd. has initiated work programs across both its Green River uranium project in Utah and Mesa Arc uranium project in New Mexico. These programs represent Gamma's first major steps toward advancing its United States uranium portfolio, laying the foundation for upcoming resource estimation, permitting and drilling initiatives. Highlights Work initiated across U.S. uranium portfolio: Field programs under way at both the Green River (Utah) and Mesa Arc (New Mexico) projects mark Gamma's first major steps toward advancing its U.S. uranium assets. Green River -- airborne survey in progress: A detailed airborne program is identifying historic boreholes and open collars for down hole gamma logging to support an initial resource estimate and guide future staking. Results are expected by year-end 2025. Mesa Arc -- drilling and permitting advancing: A 20-hole (6,500-foot) drill program has been designed to twin historic holes and test stepout targets, including the highly prospective Todilto formation. Permit submissions to the U.S. Forest Service (USFS) are under way, with drilling anticipated to begin in Q2 2026. Gabriel Alonso-Mendoza, president and chief executive officer of Gamma, commented: "This marks the beginning of a significant new phase for Gamma. With active work programs now under way at both Green River and Mesa Arc, our team is executing on a clear road map toward defining resources, building technical confidence and expanding our U.S. uranium footprint. These initiatives demonstrate our commitment to unlocking the full potential of our projects and contributing to secure, domestic uranium supply in North America." Green River uranium project -- Utah Located in Emery County's San Rafael mining district, the Green River project includes 41 royalty-free lode claims targeting uranium mineralization in the Salt Wash member of the Morrison formation. Adjacent to Western Uranium & Vanadium's San Rafael project and 11 kilometres from the Maverick Minerals processing plant. The area hosts several historical deposits totalling 5.3 million pounds U3O8 (triuranium octoxide) (Gatten, 2014) and past production of one million lb U3O8 (Willbanks, 1982). The project benefits from existing infrastructure, historical data and a geological setting prospective for in situ recovery (ISR) development. Gamma has mobilized a technical field team to conduct a detailed airborne survey designed to identify historic boreholes and locate open collars for down hole gamma logging. The data will support the development of an initial resource estimate and guide future staking opportunities in the surrounding area. Work is currently under way, with completion of the airborne survey and data interpretation expected by the second week of December, 2025. The results will help define targets for follow-up exploration and additional land acquisition during the first half of 2026. Mesa Arc uranium project -- New Mexico The Mesa Arc project comprises 41 lode mining claims in northern New Mexico, recently expanded by 185 new federal claims to cover approximately 4,520 acres. The district hosts documented historical uranium production and mineralization (McLemore & Chenoweth, 2017), with previous drilling by Magnum Uranium Corp. (2006) outlining a non-National Instrument 43-101 historical estimate of 2.5 million to 3.0 million lb U3O8. Gamma has finalized a preliminary work budget and drill plan and is preparing a NI 43-101 technical report for the Mesa Arc project. The company is submitting permit applications to the USFS for a 20-hole, 6,500-foot drill program designed to twin historical holes and test stepout targets along open extensions of known mineralization. The program will also target the deeper Todilto formation, a prolific uranium-bearing horizon responsible for over 17 million pounds of historical U3O8 production since the late 1970s, yet never previously drilled on Gamma's ground. Permitting and technical preparations are expected to be complete by mid-December, 2025, with drilling planned for Q2 2026. Corporate update The company is also pleased to announce that it has engaged Departures Capital Inc., a Vancouver-based strategic consulting and investor communications firm led by Aaron Missere, to provide investor communications and marketing advisory services. The engagement agreement is for an initial term of 12 months, for a fee of $30,000. Departures Capital and/or Mr. Missere will not receive share purchase options or other non-cash compensation and neither currently own shares in the company. The agreement is subject to the approval of the TSX Venture Exchange. Qualified person Anders Hogrelius (SME-RM, MAIG), a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and a director of the company, has reviewed and approved the scientific and technical disclosure in the news release. The historical mineral resource estimates quoted for the Mesa Arc project are sourced from internal resource calculations performed by Magnum Uranium Corp. on June 30, 2006. Grade thickness maps were published and a Thiessen Polygon method was used to calculate the resource estimates. There was no supporting technical report published with the resource calculation. Data from summary logs of each drill hole giving the depth, thickness and grade of the intercept were incorporated into a spreadsheet. All uranium grades were given in Ueq (equivalent uranium as determined by down-hole probe). A disequilibrium ratio of Ueq by 1.29 to 0.001 was used to estimate the true grade. The true grade by thickness value was then assigned to each polygon. These intercepts were added and a volume was calculated for each hole based on the area by thickness. A tonnage factor of 16 was used in the calculation based on the average density of sandstone. A tonnage was assigned to each polygon (cubic feet of a polygon/16 tons), then the pounds of U3O8 for each polygon was determined. Cut-off grade in the calculations was .02 Ueq. The historical mineral resource estimates for the nearby deposits held by third parties near the Green River project use indicated and inferred mineral resource categories and are believed to have the same meaning per those resource categories set out in sections 1.2 and 1.3 of the NI 43-101 -- Standards of Disclosure for Mineral Projects. Select historic drill holes shall be twinned to verify grade. Any historic holes remaining open could be probed to verify grade. The above information was derived from historical information that has not been verified or confirmed by a qualified person (as defined below). Such information will be used to assist the company in plans for continuing work on the properties, but the reader is cautioned that results may not be repeated. No qualified person has done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the company is not treating the historical estimates as current mineral resources or mineral reserves. Management cautions that past results on adjacent properties are not necessarily indicative of the results that may be achieved on the projects. About uranium In March, 2025, President Trump issued Executive Order 14156 formally designating uranium as a U.S. critical mineral. This legal shift empowers federal agencies under the Defense Production Act to fast-track permitting, direct federal procurement, and prioritize uranium mining, conversion, enrichment and fuel fabrication infrastructure across the country. A follow-on executive package on May 23 accelerated regulatory reform across the nuclear fuel cycle -- including licensing of advanced reactors (Gen III/IV), small modular reactors (SMRs), microreactors and establishing a goal of 400 gigawatts of nuclear capacity by 2050 -- creating a supportive policy ecosystem for domestic uranium producers and enabling secure HALEU supply chains for next-generation reactors. Meanwhile, the uranium market is facing a historic supply-demand imbalance. Years of under investment and tightened geopolitical trade have compressed inventories and elevated prices. Spot uranium prices recovered from lows near $63 (U.S.)/pound in early 2025 to over $80.00 (U.S.)/lb as of October, 2025, while long-term contracts and forward ceilings continue rising as utilities secure supply. At the same time, nuclear energy is increasingly viewed as a reliable, carbon-free backbone for both energy security and climate goals, with Western governments doubling down on nuclear deployment and investing in domestic fuel chains, SMRs and advanced reactor technologies. These tailwinds explain why the company feels strategically positioned in uranium, eager to help to supply a market poised for structural growth and supported by strong public policy frameworks. About Gamma Resources Ltd. Gamma Resources is a U.S.-focused uranium exploration and development company advancing high-quality assets in the Mountain West region. The company's portfolio includes the Green River project in Utah, comprising 1,100 acres near prominent regional producers and the Mesa Arc project in New Mexico, a strategic land position now totalling 4,520 acres that includes historic uranium resources in the Chama basin. Management believes the company is uniquely positioned to benefit from the unprecedented policy and market tailwinds reshaping the U.S. nuclear landscape, and help meet this demand with responsibly sourced, U.S.-based uranium supply. We seek Safe Harbor.