Dr. Nathan Chutas reports

SKELETON COAST URANIUM COMPLETES DIGITIZATION OF HISTORICAL EXPLORATION DATA FOR ITS FIVE NAMIBIAN EPLS AND DEFINES PRIORITY TARGET AREAS FOR FIELD VALIDATION

Practara Pty. Ltd. has completed the digitization of the historical exploration data for Skeleton Coast Uranium Corp.'s five exclusive prospecting licences (EPLs) in the Erongo region of Namibia, completing the phase 1 data consolidation and target definition recommended in the company's technical reports, and that interpretation of the compiled data has defined priority target areas on each licence for field validation. The first phase of the digitization program, covering EPLs 8617, 8208 and 9727, was announced on Aug. 18, 2026.

• Following the first phase announced on Aug. 18, 2026, Practara has completed the second and final phase of the digitization of historical exploration data, extending the compilation to EPLs 9872 and 9873, and consolidating the archive for all five EPLs into a single georeferenced GIS data set of approximately 140 digitized historical sheets, delivered in GeoPackage and Google Earth formats with a descriptive index.
• The compiled data set includes approximately 72 historical map products for the EPL 8208 area and about 1,131 historical drill hole positions from the Langer Heinrich district adjoining EPL 8208, captured with overburden and mineralized thickness attributes where recorded, together with historical licence, work area and survey boundaries across the portfolio.
• The compilation completes the phase 1 data consolidation and target definition recommended in the company's National Instrument 43-101 technical reports (announced Aug. 4, 2026) and has defined priority target areas on each licence under the company's dual prospectivity model: primary leucogranite-associated uranium analogous to Rossing and Husab, and secondary calcrete-hosted palaeochannel uranium analogous to Langer Heinrich.
• On this base the company commissioned the reprocessing and reinterpretation of the government's regional airborne magnetic and radiometric data over all five licences, referred to on Aug. 18, 2026; the company will release these results once finalized. Phase 2 field validation is planned to begin in the fourth quarter of 2026 on EPL 8617, where the licence overlies freehold farmland, subject to the conclusion of access agreements with the landowners.
• Namibia accounted for approximately 12 per cent of global mined uranium production in 2024 and ranks among the world's top three producing countries (World Nuclear Association).

Historical data digitization program

The digitization program recovered a heterogeneous archive of scanned historical exploration sheets held for the licences and the surrounding district, comprising regional and prospect scale geological mapping, historical exploration reports, regional airborne geophysics, ground radiometric and geophysical surveys, geochemical sampling, and historical drilling records, and converted it into a consistent, spatially referenced digital data set. Each sheet was reviewed, classified by data type (drilling, geochemistry, geophysics, geology, locality and general), and, where the available control allowed, georeferenced to WGS84 UTM zone 33S and digitized in QGIS. Sheets that could not be georeferenced, duplicates, sheets without data values and cross sections lacking vertical control were tagged and excluded, with the reason recorded, so that the exclusions are auditable and can be revisited if further control becomes available.

The second phase completed the compilation for EPLs 9872 and 9873, reconciled the full set of digitized sheets against a descriptive index recording the content, units and source licence of each file, and integrated the data set into the company's phase 1 geographic information system together with the regional geological mapping, the historical uranium occurrence and prospect positions (including Welwitschia Flats), the structural lineament interpretation from the reprocessed magnetic data and the target zones of the 2024 prospectivity assessment of EPL 8208 and its former eastern extension, as recommended for EPL 9727 and EPL 8208 in the technical reports. For the Langer Heinrich district adjoining EPL 8208, approximately 72 historical map products were reviewed or digitized, and about 1,131 historical drill hole positions were captured, with the historical overburden and mineralization isopachs and value contours, to provide the regional context and the exploration analogue for the calcrete hosted model; these data are not evidence of mineralization within EPL 8208. In total, approximately 140 historical sheets were georeferenced and digitized: about 75 covering EPL 8208, EPL 9727 and the adjoining Langer Heinrich district, about 45 covering EPL 8617 and about 20 covering EPLs 9872 and 9873; a further 30 sheets were reviewed but excluded as duplicates or for lack of co-ordinate control. Outputs are delivered as GeoPackage files, the open, single file GIS format and as Google Earth (KMZ) files for straightforward viewing, and are held in a controlled technical data room together with the current licence and cadastral boundaries, the environmental approvals and the landowner and access records.

Priority target areas

Each of the company's projects offers dual prospectivity for primary leucogranite-associated uranium mineralization analogous to the Rossing and Husab deposits, and secondary calcrete-hosted palaeochannel uranium mineralization analogous to the Langer Heinrich deposit. Interpretation of the compiled data within the geological framework set out in the technical reports, together with the company's prospectivity assessment of the licences, has defined the following priority target areas for ground follow-up.

EPL 8617EPL 8617 (10,491.5 hectares) lies in the southern Central zone of the Damara Orogen, approximately 18 km east of the Rossing mine and 17 km east of the Husab mine. The structurally prepared Damara metasediments and alaskites of the Valencia-Khan corridor project into the licence, and historical records reference radiometric anomalies along the trend that may indicate alaskite hosted uranium mineralization. The compiled data define two target areas: the Valencia-Khan structural corridor for primary leucogranite associated mineralization, and the north-trending palaeovalley in the north of the licence, where cover and drainage geometry favour secondary calcrete hosted mineralization. EPL 8617 is held under farm title and is the company's first priority for ground work.

EPL 8208EPL 8208 (7,840.7 hectares) is contiguous along its southern boundary with the mining licences hosting the Langer Heinrich mine. The compiled historical record, including the digitized Langer Heinrich district drilling, defines the palaeochannel corridor between the Etusis dome and the Langer Heinrich boundary as the priority target for secondary calcrete hosted mineralization, with interpreted tributaries to the Langer Heinrich palaeochannel system displaying elevated historical radiometric responses. The Etusis dome and the Salem granite in the east of the licence are the target area for primary mineralization.

EPL 9727EPL 9727 (12,081.1 hectares) occupies a transitional setting between the two models: the north eastern sector, with Cenozoic palaeochannel related cover of the Gawib drainage system, is the target area for calcrete hosted secondary mineralization, and the southwestern sector, with Damara basement lithologies including the Bloedkoppie granite and associated pegmatites, is the target area for primary leucogranite associated mineralization. Approximately half of the licence lies within the Namib Naukluft National Park.

EPLs 9872 and 9873EPLs 9872 (11,077.9 hectares) and 9873 (19,482.1 hectares) lie east of EPL 8617, and had the least historical coverage in the archive; the compiled data define the terrace and palaeovalley cover between two northeast-trending granite belts on the common boundary of the two licences as the target area for secondary mineralization, and the granite belts themselves as the primary target areas. The Namibian Ministry of Environment, Forestry and Tourism has not yet granted the required environmental clearance certificates for EPLs 9872 and 9873, which are necessary for fieldwork to be conducted.

Next steps

With the compilation complete, the phase 1 work recommended in the technical reports is finished. On the compiled base the company commissioned ASST Namibia, an independent geophysical contractor, to reprocess and reinterpret the Namibia Ministry of Mines and Energy's regional airborne magnetic and radiometric data over all five licences, the work referred to in the company's news release of Aug. 18, 2026. That reprocessing work is now complete and the results are being assembled into a ranked set of airborne uranium targets across the licences, which will be released once finalized. Phase 2, the field validation of the priority target areas (scintillometer and spectrometer traverses with geological mapping, radon surveys where the radiometric source is not exposed, and geochemical sampling, followed by targeted high-resolution airborne surveys over selected ground-truthed targets), is planned to begin in the fourth quarter of 2026 on EPL 8617, where the licence overlies freehold farmland, subject to the conclusion of access agreements with the landowners, with EPL 9727 and the licences within the Namib-Naukluft National Park to follow once park entry permits are issued.

"With the digitization completed we hold, for the first time, the full historical record of these licences in one georeferenced data set. With this information, we have generated better exploration targets on each licence under both uranium models, and it is the base on which the reinterpretation of airborne data and this season's ground work are built," commented Dr. Nathan Chutas, chief executive officer of Skeleton Coast Uranium.

Practara

Practara, a metals and mining advisory firm headquartered in South Africa, prepared the company's technical reports entitled "NI 43-101 Technical Report on the EPL8208, Erongo Region, Namibia," "NI 43-101 Technical Report on the EPL 9727 Uranium Project, Erongo Region, Namibia," and "NI 43-101 Technical Report on the EPL 8617 Uranium Project, Erongo Region, Namibia," each with an effective date of April 22, 2026, filed on SEDAR+ and announced on Aug. 4, 2026, has compiled and digitized the historical exploration record of the company's five EPLs and the surrounding district, and manages exploration on the licences, which combined cover approximately 60,973 hectares or 610 square kilometres.

Namibia

According to the World Nuclear Association, Namibia hosts approximately 5 per cent of the world's total recoverable uranium resources and accounted for approximately 12 per cent of global mined uranium production in 2024, ranking it among the world's top-three producing countries. Uranium is Namibia's largest commodity export.

About Skeleton Coast Uranium Corp.

Skeleton Coast Uranium holds options to acquire 70-per-cent to 75-per-cent controlling interests in five exclusive prospecting licences (EPLs) covering approximately 610 square km in the Erongo region of Namibia, which accounted for approximately 12 per cent of global mined uranium production in 2024 (World Nuclear Association). All the concessions are reported in historical records to host uranium mineralization (unverified historical information; see technical information) and are located either adjacent to or within approximately 30 km of one of the region's three uranium mines (Langer Heinrich, Rossing or Husab). Under the terms of its option agreements, Skeleton Coast Uranium is committed to incurring $5-million in exploration expenditures across the five EPLs by June, 2028.

Skeleton Coast Uranium trades on the TSX Venture Exchange under the symbol SKEL, on the OTC under the symbol GLIIF and on the Frankfurt Stock Exchange under the symbol KDM0.

Qualified person

Dr. Nathan Chutas, PhD, CPG, chief executive officer of the company, is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information contained in this news release. Dr. Chutas is a certified professional geologist registered with the American Institute of Professional Geologists and is not independent of the company within the meaning of Section 1.5 of NI 43-101.

Technical information

Historical technical information referenced in this news release is derived from open file exploration reports lodged with the Geological Survey of Namibia and the Ministry of Mines and Energy and from the 1988 Geological Survey of Namibia publication "The Mineral Resources of Namibia - Uranium" by H. Roesener and C.P. Schreuder. This information has not been independently verified by the company or its qualified person, has not been reviewed for compliance with current sampling, analytical, and quality assurance and quality control practices, and should not be relied upon; it is provided to illustrate the prior work history on the properties. The exploration targets described in this news release are conceptual in nature: there has been insufficient exploration to define a mineral resource on any of the EPLs and it is uncertain whether further exploration will result in the delineation of a mineral resource.

We seek Safe Harbor.