Mr. Esen Boldkhuu reports

URANIUMX DISCOVERY CORP. PROVIDES UPDATE ON TRANSACTION WITH POND TECHNOLOGIES HOLDINGS INC.

UraniumX Discovery Corp. has entered into a share exchange agreement dated Aug. 18, 2026, with Pond Technologies Holdings Inc. (TSX Venture Exchange: POND) pursuant to which Pond will acquire all of the issued and outstanding shares of the company's wholly owned subsidiary 1477571 B.C. Ltd. (SubCo), which holds a 100-per-cent interest in the Zoo Bay uranium property, located in Saskatchewan's Athabasca basin, subject to a 2.0-per-cent net smelter returns royalty in favour of UraniumX. The agreement supersedes the letter of intent announced on April 27, 2026, and is to be completed in connection with Pond's planned delisting from the TSX Venture Exchange and listing on the Canadian Securities Exchange (the CSE).

Highlights

• 17 million postconsolidation Pond shares, $350,000 in cash and $4.5-million in exploration spending on Zoo Bay, with seven million postconsolidation Pond shares, and $50,000 on closing and the balance over 36 months (all such shares, the Pond shares);
• 2.0-per-cent NSR (net smelter return) royalty retained on Zoo Bay, of which Pond may buy back 1.0 per cent for $1.5-million;
• UraniumX stays on as operator until the deferred consideration is satisfied in full, keeping exploration in the hands of the team that generated the targets;
• No UraniumX shares issued and no treasury spent, keeping the company's capital focused on the Murphy Lake drill program, where assays from the expanded 4,092 metre campaign are pending.

Under the terms of the agreement, UraniumX will receive seven million postconsolidation Pond shares and a cash payment of $50,000 on closing of the transaction, with the remaining 10 million postconsolidation Pond shares, $300,000 in cash and $4.5-million in exploration expenditures to follow over a 36-month period. All Pond share figures reflect the consolidation of the Pond shares on the basis of one share for each 80 shares outstanding, which is a condition to closing. If Pond does not satisfy all deferred payments, Pond share issuances and exploration expenditures, UraniumX may, in its sole discretion, require the return of SubCo or the property to UraniumX for $1.00 (the repurchase right).

"This transaction is a continuation of our project generator model, designed to advance and unlock value across our Athabasca basin portfolio while concentrating capital and technical resources on our flagship Murphy Lake uranium property," said Esen Boldkhuu, chief executive officer of UraniumX. "Zoo Bay moves forward with $4.5-million of partner funded exploration, and UraniumX retains a royalty and meaningful equity in Pond."

Completion of the transaction is subject to a number of conditions precedent, including (but not limited to) conditional approval of the TSX-V in respect of the delisting of the Pond shares, conditional approval of the CSE in respect of the listing of the Pond shares and the transaction, completion of a private placement of SubCo, receipt of Pond shareholder approval, completion of a debt settlement of certain outstanding Pond liabilities, completion of the consolidation, a reorganization involving the disposition of Pond's existing subsidiaries, and the reconstitution of Pond's board of directors and management. There can be no assurance that the transaction will be completed on the terms described or at all.

The Zoo Bay uranium property covers 19,850 hectares along the northeastern edge of the Athabasca basin, and benefits from a shallow unconformity at depths between zero and 200 metres. No mineral resource has been defined on the property.

The parties are arm's length and no finders' fees are payable in connection with the transaction.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Ken Wheatley, PGeo, director of exploration of the company and a qualified person as defined under National Instrument 43-101.

About UraniumX Discovery Corp.

UraniumX Discovery is a Canadian-based junior uranium exploration company focused on advancing high-potential assets in Saskatchewan's Athabasca basin, one of the world's premier uranium districts. The company's portfolio includes the Murphy Lake, Zoo Bay and NeoCore uranium properties, strategically positioned along the eastern margin of the basin near established infrastructure, and, subject to closing, the Dieter Lake project in Quebec.

We seek Safe Harbor.