Mr. Rob Leckie reports

FUTURE FUELS ANNOUNCES BROKERED OFFERING FOR GROSS PROCEEDS OF UP TO C$8 MILLION

Future Fuels Inc. has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and bookrunner in connection with a best-effort private placement (the marketed offering) for aggregate gross proceeds of up to $8-million from the sale of the following:

• Units of the company at a price of 32 cents per unit, subject to the minimum sale of 6.25 million units for minimum gross proceeds of $2-million from the sale of units;
• Flow-through units of the company at a price of 38 cents per flow-through unit.

Each unit will consist of one common share of the company and one common share purchase warrant. Each flow-through unit will consist of one common share of the company to be issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each unit warrant and FT unit warrant shall entitle the holder to purchase one common share of the company at a price of 45 cents at any time on or before that date that is 36 months after the closing date (as herein defined). The unit warrants shall not be exercisable until the date that is 61 days from the date of their issuance.

The company also grants Red Cloud an option, exercisable in full or in part up to 48 hours prior to the closing of the marketed offering, to sell up to an additional $2-million in any combination of units and FT units at their respective offering prices. The marketed offering and the securities issuable upon exercise of the agent option shall be collectively referred to as the offering.

The company intends to use the net proceeds from the sale of the units for the exploration of the company's Hornby basin project, the company's properties in Hatchet Lake in Northern Saskatchewan, as well as for working capital and general corporate purposes, as is more fully described in the offering document.

The gross proceeds from the sale of the FT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as both terms are defined in the Income Tax Act (Canada) related to the company's projects on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the FT units effective Dec. 31, 2026.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan (the Canadian selling jurisdictions) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of the units are not expected to be subject to resale restrictions in accordance with applicable Canadian securities legislation. The units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended.

The FT units will be offered by way of the accredited investor and minimum amount investment exemptions under NI 45-106 in the Canadian selling jurisdictions. All securities not issued pursuant to the listed issuer financing exemption will be subject to a hold period in Canada ending on the date that is four months plus one day following the closing date (as defined below).

There is an offering document related to the offering of units under the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors in the units should read this offering document before making an investment decision in the units.

The offering is scheduled to close on Oct. 22, 2026, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Future Fuels Inc.

Future Fuels' principal asset is the Hornby project, covering the entire 3,407-square-kilometre Hornby basin in northwestern Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake system. Additionally, Future Fuels holds the Covette project in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.

We seek Safe Harbor.