The TSX Venture Exchange has accepted for filing a three-cornered amalgamation agreement dated Feb. 25, 2026, as amended, among Future Fuels Inc., its wholly owned subsidiary, 1564470 B.C. Ltd. (Subco), and Hatchet Uranium Corp. Pursuant to the agreement, Future Fuels acquired all issued and outstanding shares of Hatchet through the amalgamation of Subco and Hatchet (such amalgamated entity, Amalco). Hatchet's mining interests in Saskatchewan include a 100-per-cent interest in the Hatchet Lake property, the Genie, Usam and CBX/Shoe projects, and the right to earn an 80-per-cent interest in the Highway property.

As consideration, each outstanding Hatchet share was exchanged for 0.760836 of a common share of Future Fuels. Upon closing, Future Fuels issued a total of 14,999,989 common shares to Hatchet shareholders. Additionally, all 1,452,013 outstanding Hatchet warrants were exchanged for 1,104,743 Future Fuels warrants, maintaining the 0.760836 exchange ratio. The exercise prices of the Hatchet warrants have been adjusted to 80.50 cents per share if exercised on or before Feb. 10, 2027, or 96.60 cents per share if exercised between Feb. 11, 2027, and the expiry date of Feb. 10, 2028.

To satisfy an underlying option and purchase agreement, Future Fuels may also issue up to 10.25 million common shares of Future Fuels (in the aggregate) to Skyharbour Resources Ltd., the optionor of the Highway property and a former Hatchet shareholder, and Amalco may complete the remaining cash payments to Skyharbour and incur the remaining exploration expenditures on the Highway property by the second and third anniversaries of the Skyharbour option agreement.

The properties are subject to various pre-existing royalties, including a 2-per-cent net smelter return (NSR) royalty on the Hatchet Lake property (reducible to 1.5 per cent for $750,000), and a 2-per-cent NSR royalty on the Genie, Usam, CBX/Shoe and Highway properties.

For further information, please refer to Future Fuels' news releases dated Feb. 26, 2026, and May 29, 2026.