Mr. Colin Healey reports

PREMIER AMERICAN URANIUM OUTLINES MULTIPLE TARGETS FOR EXPANSION DRILLING AT THE CEBOLLETA PROJECT, NEW MEXICO

Premier American Uranium Inc. has outlined targets as part of its exploration growth plans at the company's flagship Cebolleta project located in the Grants mineral belt in New Mexico.

Uranium mineralization at Premier American's Cebolleta project are the northern extension of the Jackpile-Paguate trend of uranium deposits, which is one of the largest sandstone-hosted uranium endowments in the world. Collectively, the mines of the Laguna mining district produced more than 100 million pounds of U3O8 (triuranium octoxide) from the Jackpile-Paguate trend during the period from 1951 to 1983, as documented by geologists of the New Mexico Bureau of Geology and Mineral Resources and the United States Department of Energy. The northern continuation of the Jackpile-Paguate trend of uranium deposits onto the southern part of the Cebolleta project property is well established, but the extent of mineralization is not fully defined, representing several important potential exploration and growth opportunities for the company.

The company has identified several target areas at Cebolleta, including:

• Untested areas with known mineralized zones, but not yet comprehensively drilled.
• Mineralized zones within the Jackpile sandstone which remain open ended and trend beyond the limits of the existing drilling grid, providing potential for expansion of known deposits.
• Mineralization at the Piedra Lumbre prospect, hosted in the Westwater Canyon member of the Morrison formation, which is the principal host for the prolific uranium deposits of the Grants mineral belt.

Colin Healey, chief executive officer of Premier American, commented: "As drilling has begun in Wyoming to unlock the potential opportunity to discover another ISR amenable deposit in close proximity to Ur-Energy's Lost Creek uranium mine and processing facility and not far from Rio Tinto's Sweetwater mill, our technical team is undertaking the next steps required to expand shareholder value at Cebolleta in New Mexico. We are currently designing programs with the goal of unlocking growth potential as we advance toward preliminary economic and technical studies at the Cebolleta project. We look forward to providing more detailed plans for exploration and advancement at this rapidly evolving flagship project in the near future."

Brownfield exploration targets at Cebolleta

The company has identified several important brownfields targets that remain either untested or have very limited historical drilling immediately adjacent to historically defined mineralization in the Jackpile sandstone at both the St. Anthony and L-Bar (Sohio) areas of the project.

In the St. Anthony area, the southern property line is defined by the northern part of the Jackpile open pit mine. Reconnaissance-scale exploration drilling carried out by a previous operator of the project encountered mineralization in several holes in the immediate vicinity of the northern edge of the Jackpile open pit. The company believes the southern boundary region of the property has the potential to host additional uranium mineralization that could be similar in tenor to mineralization in the adjoining Jackpile mine.

The Link target is situated along the northern flank of the St. Anthony north pit and near the area of phase I confirmation drill program completed by American Future Fuel Corp. in 2023, in an area of limited historical drilling along the major trend that defines the mineralized system on the project. The company believes that the Link target has a probability of expanding the known mineralization on the project. In addition, the South pit extension target is considered to have good potential to host additional mineralization as it is situated between areas of well-defined mineralization but was largely undrilled due to the presence of an isolated topographic high. Notably, the Willie P underground mine developed by UNC as part of the St. Anthony mine complex where 1.6 million pounds of uranium were mined from 1975 to 1979, is believed to have remaining mineralization not included in the current mineral resource estimate (MRE) for the Cebolleta project in New Mexico prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects (see press release dated June 24, 2024). The company has begun work to acquire and analyze data that were previously unavailable.

At the L-Bar (Sohio) area of the project brownfields targets have been identified in the north and south Sohio target areas, immediately adjacent to known mineralization. In the Central target area, sparse historical drilling has defined isolated pods of mineralization that the company believes could be linked to define a larger, continuous mineralized body.

Greenfields exploration targets at Cebolleta -- potential for new discovery

At the Piedra Lumbre prospect on the eastern margin of the project, historical drilling encountered uranium mineralization within sandstones of the Westwater Canyon, 300 feet below the Jackpile sandstone. The extent of mineralization at Piedra Lumbre is largely untested, and represents an opportunity for potential identification of new greenfields mineralized area.

About the Cebolleta project

Cebolleta is an advanced uranium exploration project with a mineral resource (April, 2024, technical report) of indicated resources containing 18.6 million pounds of U3O8 (6.6 M tons at 0.14 per cent U3O8). Inferred resources are estimated to contain 4.9 million pounds of U3O8 (2.6 M tons at 0.10 per cent U3O8).

Qualified person statement

The scientific and technical information contained in this news release was reviewed and approved by Dean T. Wilton, PG, CPG-7659, MAIG-6384, a consultant to Premier American, and a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Data verification related to certain scientific and technical information with respect to the project can be found in the company's technical report entitled "Technical Report on the Cebolleta Uranium Project, Cibola County, New Mexico, USA" dated June 17, 2024, which is available under the company's profile on SEDAR+.

About Premier American Uranium Inc.

Premier American is focused on the consolidation, exploration and development of uranium projects in the United States. One of Premier American's key strengths is the extensive landholdings in three prominent uranium-producing regions in the United States: the Grants mineral belt of New Mexico, the Great Divide basin of Wyoming and the Uravan mineral belt of Colorado. With a rich history of past production and both current and historic uranium mineral resources, Premier American has work programs under way to advance its portfolio.

We seek Safe Harbor.