Mr. Ungad Chadda reports

GLOBAL URANIUM ANNOUNCES AMENDED LIFE OFFERING AND $1 MILLION LOAN FACILITY

Global Uranium Corp. has filed an amended and restated offering document dated Nov. 3, 2026, in relation to its previously announced (please see the news release dated Sept. 23, 2026) non-brokered private placement under the listed issuer financing exemption. The company has also entered into a committed, unsecured, non-revolving loan facility of up to $1-million with an arm's-length lender.

Amended LIFE (listed issuer financing exemption) offering

The minimum offering has been increased to 3,636,364 units of the company for gross proceeds of $800,000.08. The maximum offering remains 4,239,711 units for gross proceeds of $932,736.42. The offering price remains unchanged at 22 cents per unit.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 30 cents, commencing on the date that is 61 days following closing and expiring 24 months following closing.

The amended offering document replaces the offering document dated Sept. 23, 2026, and updates the company's working capital position, available financing, planned use of funds and business objectives. It removes previously proposed working capital adjustments for liabilities for which no binding settlement or waiver agreements have been executed, and incorporates the facility as an additional source of financing.

The company intends to use the available funds for exploration expenditures and option payments primarily relating to its Astro uranium project and Wyoming uranium projects, payment of outstanding corporate liabilities, general and administrative expenditures, and working capital, as described in the amended offering document.

The offering is being conducted pursuant to the listed issuer financing exemption under Section 5A.2 of National Instrument 45-106, Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The offering is being made to purchasers resident in all provinces of Canada, except Quebec and New Brunswick. Securities issued under the offering are expected to be immediately freely tradeable under applicable Canadian securities laws, subject to the restrictions applicable to control persons.

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

Closing is expected on or about Nov. 6, 2026, subject to satisfaction of applicable regulatory requirements, including those of the Canadian Securities Exchange. The company will not close the offering unless the minimum offering amount has been raised and the company reasonably believes it has sufficient funds to meet its stated business objectives and liquidity requirements for the following 12 months. No commissions, finders' fees or finders' warrants are expected to be paid or issued in connection with the offering.

Committed loan facility

The facility agreement is dated Nov. 3, 2026, with an arm's-length lender.

Under the facility, the company may request advances, on five business days of written notice, until Oct. 30, 2028, subject to the $1-million facility limit and the absence of an event of default. The facility is non-revolving and amounts repaid cannot be redrawn.

Advances bear simple interest at 12 per cent per annum. Each advance and its accrued interest are repayable 24 months after the applicable advance date, with all outstanding amounts due no later than Nov. 3, 2030. The facility is not repayable on demand and may be prepaid without penalty. No fees or interest apply to undrawn amounts.

The facility may be used for working capital, general corporate purposes and payment of corporate liabilities. No amounts have been drawn as of the date of this news release. An event of default may result in cancellation of undrawn availability and acceleration of outstanding amounts.

About Global Uranium Corp.

Global Uranium is an exploration-stage company focused on exploring and developing uranium assets primarily in North America. Its portfolio includes the Wing Lake property and an interest in the Astro uranium project in Saskatchewan, together with uranium projects in the Great Divide Basin, Gas Hills and Copper Mountain districts of Wyoming.

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