First American closes Quebec property buy for shares

Mr. Murray Nye reports FIRST AMERICAN URANIUM INC. COMPLETES ACQUISITION OF RARE EARTH ELEMENTS NIOBIUM PROPERTIES IN THE GRENVILLE PROVINCE, QUEBEC Further to the news release dated Oct. 7, 2025, First American Uranium Inc. has completed the acquisition of a 100-per-cent legal and beneficial interest in certain mineral properties comprising a strategic land package in the Grenville province of Quebec, pursuant to the terms of a property purchase agreement dated Oct. 6, 2025, among the company and a group of arm's-length vendors. Under the terms of the agreement, the vendors transferred to the company a 100-per-cent interest in the properties, free and clear of all encumbrances. As consideration, the company issued an aggregate of 4.02 million common shares at a deemed issuance price of 85 cents per consideration share to the vendors upon closing. The consideration shares will be allocated among the vendors in varying amounts, corresponding to their respective ownership interests in the properties. The consideration shares will be issued pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance. This acquisition marks First American Uranium's initial entry into Quebec, regarded as a mining-friendly jurisdiction, with the properties located in the Grenville province -- a region that the company believes is recognized for its elevated number of rare earth elements, niobium and nickel-copper occurrences. The properties host multiple high-priority showings, including: Blanchette-1 (REE and Ni-Cu): A grab sample collected by Quebec government geologists returned 2.7 per cent total rare earth elements, including 4,090 parts per million neodymium. On this same outcrop, a nickel-copper quartz vein sample returned 0.25 per cent copper and 0.1 per cent nickel, hosted in a highly deformed paragneiss associated with gabbro boudins. Blanchette-2 (REE): A grab sample collected by Quebec government geologists returned 0.17 per cent total rare earth elements, including notable concentrations of cerium and neodymium, as well as elevated zirconium, niobium, thorium and yttrium. Bardy (REE): A grab sample collected by Quebec government geologists returned 0.68 per cent TREE, including 1,150 ppm Nd, hosted in a granitic pegmatite 40 centimetres to four metres wide. Seigneurie deposit (Nb-REE): Originally drilled by Soquem in 1978, the area hosts pegmatites up to 50 metres wide, which remain largely unexplored and unassayed for REE and Nb. In 2010, a local prospector collected grab samples, one of which returned 3,190 ppm Nb and 4,031 ppm total rare earth elements. In addition to the 39 claims covering 2,240 hectares acquired under the agreement, the company has separately staked an additional 480 claims covering 27,696 hectares in and around the properties. Collectively, this land package totals 519 claims covering 29,936 hectares. Niobium and rare earth elements are critical for applications in defence and aerospace, including jet engine superalloys, hypersonic missile systems, rocket nozzles and advanced super conducting technologies such as qubits for quantum computing. Securing these resources in stable, North American jurisdictions is increasingly important as governments work to strengthen domestic supply chains. Though the company has not directly applied for any specific funding programs or grants, it intends to explore non-dilutive funding opportunities with agencies such as the U.S. Department of Energy, Department of Defence and Export-Import Bank of the United States. These opportunities could help accelerate development in alignment with U.S. critical mineral policies and support the company's potential contribution to U.S. defence and energy security initiatives. "This acquisition marks an important step for our company as we look to deliver critical minerals and rare earth elements supply into North America," said Murray Nye, chief executive officer of First American Uranium. "These Grenville province properties allow us to extend our strategy into the critical minerals space in a time where the need to secure domestic supply chains has never been greater. Our team is excited to work with all stakeholders to advance the exploration and development of these assets and bring to market a critical minerals company for Canada." The acquisition strategically expands the company's exploration portfolio within a highly prospective region of the Grenville province. The addition of these assets is expected to strengthen the company's growth pipeline, enhance its regional presence, and create long-term opportunities for shareholder value through continuing exploration and development. For additional details regarding the properties, please see the company's news release dated Oct. 7, 2025, available under the company's profile on SEDAR+. 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, niobium and nickel-copper occurrences, expanding the company's footprint into critical minerals that are strategically important for energy and defence applications. Qualified person The scientific and technical information contained in this news release has been prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Clyde McMillan, PGeo, a consultant to the company, a qualified person as defined under National Instrument 43-101, has reviewed and approved the technical information contained herein. We seek Safe Harbor.