Mr. Geoff Balderson reports

CANADIAN URANIUM ANNOUNCES DEFINITIVE AGREEMENT WITH ROOK 2

Canadian Uranium Corp. has entered into an amalgamation agreement dated March 19, 2026, with Rook 2 Uranium Corp., a private company, to acquire all of the issued and outstanding common shares of Rook 2 by way of a three-cornered amalgamation. Rook 2 holds the sole option to acquire a 100-per-cent interest in 21 mineral claims comprising an area of approximately 18,941 hectares (ha) in Saskatchewan.

Transaction details

The transaction will be completed by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) among the company, a wholly owned subsidiary of the company to be incorporated for the purposes of the transaction (Subco) and Rook 2. Pursuant to the terms of the amalgamation agreement, Rook 2 will amalgamate with Subco, and the holders of Rook 2 shares will each receive one common share of the company for every one Rook 2 share held. It is expected that 9,663,156 company shares will be issued to the current shareholders of Rook 2 as consideration for all of the outstanding Rook 2 shares pursuant to the transaction. Upon closing of the transaction, the amalgamated company will operate as a wholly owned subsidiary of the company.

No finders' fees will be paid in connection with the transaction. The company and Rook 2 are arm's-length parties.

Completion of the transaction is subject to a number of conditions customary of a transaction of this nature, including without limitation, the receipt of all necessary regulatory and Rook 2 shareholder approvals. There can be no guarantees that the transaction will be completed as contemplated, or at all.

"As we look to the future, we're excited to build a world-class team and company from the strong foundation we've laid over the past three years. We've worked hard to secure what we believe are the best assets in the industry, and the Rook 2 asset is particularly exciting for us -- starting from a historic resource in the prolific Athabasca basin is a great advantage. We're also proud to honour our roots from the Titan Uranium days by bringing back familiar faces who've been contributors and had success in the Athabasca. Bottom line, something truly special is coming together, and we can't wait to show the world what's next," states Ed Marlow, London-based director and seasoned Canadian uranium veteran.

The option

Rook 2 was granted the option to acquire a 100-per-cent ownership in the property pursuant to a property sale agreement dated Nov. 12, 2025, between Rook 2 and the optionor. To exercise the option in accordance with the option agreement, Rook 2 must:

1. Issue one million Rook 2 shares to the optionor, which Rook 2 completed on Nov. 12, 2025;
2. Pay the optionor an aggregate of $4-million as follows:
   1. $300,000 within 15 days of signing the option agreement, which Rook 2 paid;
   2. $500,000 on or before Oct. 31, 2026;
   3. $1.2-million on or before Oct. 31, 2027;
   4. $2-million on or before Oct. 31, 2028.
3. Incurring exploration expenditures on the property as follows:
   1. $500,000 on or before Nov. 12, 2026, of which Rook 2 has incurred $449,400 as of the date of the amalgamation agreement;
   2. $1.5-million on or before Nov. 12, 2027;
   3. $2-million on or before Nov. 12, 2028.

Investor relations

Canadian Uranium announces it has engaged Triomphe Holdings Ltd., doing business as Capital Analytica, an arm's-length service provider, to provide certain marketing and social media services to the company, in accordance with the policies of the Canadian Securities Exchange and applicable securities laws. Based in Nanaimo, B.C., Capital Analytica specializes in marketing, social media and public awareness within the mining and metals sector. Capital Analytica will provide social media services, capital market consultation and social engagement reporting for an initial six-month term for a fee of $150,000 payable in two tranches, with an option to renew the agreement for an additional six months at a rate of $75,000 unless terminated earlier in accordance with the terms of the agreement. The company has granted Capital Analytica incentive stock options to purchase 150,000 common shares at an exercise price of 75 cents per share for a period of three years. The stock options will be subject to standard IR (investor relations) vesting provisions.

Pursuant to the terms of the consulting agreement, Capital Analytica will provide continuing capital markets consultation, continuing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relations services.

About Canadian Uranium Corp.

Canadian Uranium is an emerging uranium exploration and development company focused on the prolific Athabasca basin -- the world's premier district for high-grade uranium deposits. The company's strategy centres on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics and northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies and strategic partnerships, the company aims to accelerate project advancement and unlock value across its exploration portfolio.

We seek Safe Harbor.