Mr. Philip Williams reports

CONSOLIDATED URANIUM CLOSES PREVIOUSLY ANNOUNCED ACQUISITION OF THE PAST PRODUCING HUEMUL URANIUM-VANADIUM-COPPER PROJECT IN ARGENTINA

Consolidated Uranium Inc. has closed the previously announced 100-per-cent acquisition of the Huemul-Agua Botada uranium-vanadium-copper mine and surrounding prospective ground totalling about 27,350 hectares located in the Malargue department of southern Mendoza province, Argentina (collectively referred to as the Huemul project). Huemul was Argentinas first producing Uranium mine and operated between 1955 and 1975, recording approximately 500,000 pounds of historical U3O8 production before it closed in 19761 (see press release dated June 14, 2023, for detailed information on the project). Consolidated uranium now holds two projects with strong technical merit in Argentina.

Pursuant to an agreement between Consolidated Uranium's wholly owned subsidiary, 2847312 Ontario Inc., and the vendor of Huemul, Ontario Inc., has acquired a 100-per-cent interest in about 22,432 hectares within the Huemul project area held by the Huemul vendor for consideration comprising:

• $200,000 (U.S.) in cash;
• 500,000 common shares of Consolidated Uranium;
• A 2-per-cent NSR (net smelter return) royalty payable by the company to the Huemul vendor on certain portions of the Huemul project. Consolidated Uranium has the right to repurchase 1 per cent of the Huemul royalty by paying the amount of $2-million (U.S.).

Pursuant to an agreement between Ontario Inc. and NewEra Metal Resources Ltd., Ontario Inc. has acquired a 100-per-cent interest in two claim applications covering about 2,352 hectares within the Huemul project area held by NewEra for consideration comprising:

• $120,000 (U.S.) in cash;
• 119,372 common shares;
• A 1-per-cent NSR royalty payable by the company to NewEra on the claims covered by the NewEra claim applications.

The common shares issuable pursuant to the acquisitions are subject to a hold period expiring four months and one day from the date of issuance. There are no finders' fees payable in connection with the acquisitions and the Huemul vendor and NewEra are arm's-length parties with respect to the company. _

About Consolidated Uranium Inc.

Consolidated Uranium was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, Consolidated Uranium has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina and the United States, each with significant past expenditures and attractive characteristics for development.

Consolidated Uranium completed a transformational strategic acquisition and alliance with Energy Fuels Inc., a leading United States-based uranium mining company, and acquired a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah and Colorado. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning Consolidated Uranium as a near-term uranium producer.

We seek Safe Harbor.