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Vancouver, BC – TheNewswire - November 2, 2026 – Uranium One  Mining Corp. ("Uranium One" or the "Company") ( UUU: CSE | UUUFF: OTCID | SL51: Frankfurt ) is pleased to announce that its inaugural exploration program is now underway at the Company's approximately 90,000-hectare Yuty Prometeo–San Jose Uranium Project (the “Yuty Uranium Project” ), located in the Paraná Basin of southeastern Paraguay.

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Figure 1 : Geological field personnel examine an exposed lateritic soil profile during preliminary field activities at the 90,000-hectare Yuty Prometeo–San Jose Uranium Project  in Paraguay.

The Company has received its Prospection Permit from Paraguay’s Vice Ministry of Mining and Energy ( “VMME” ), marking a significant regulatory milestone in advancing exploration activities at its approximately 90,000-hectare Yuty Prometeo–San Jose Uranium Project ( “Yuty Uranium Project” ), located in Paraguay’s Paraná Basin.

Following receipt of the permit, Uranium One has commenced its inaugural exploration program, focused on verifying historical exploration data, assessing previously identified uranium geochemical anomalies and evaluating prospective areas to support the identification and prioritization of future drill targets.

The exploration program is designed to conduct geological reconnaissance across priority areas, assess access routes and field logistics, and verify the locations and current conditions of historical exploration drill holes attributed to Anschutz Co. Particular attention will be directed toward areas identified in historical records as exhibiting uranium geochemical anomalies.

David Greenway, Chief Executive Officer of Uranium One Mining, commented: “Receiving the Prospection Permit represents a significant milestone for Uranium One, paving the way for our inaugural exploration program, which is now underway across our approximately 90,000-hectare Yuty Prometeo–San Jose Uranium Project in Paraguay. We are encouraged by the historical exploration data, previously identified uranium geochemical anomalies and the project's strategic location within the Paraná Basin. Of particular significance is the Prometeo concession's direct proximity to Uranium Energy Corp.’s Yuty Project, which hosts an established uranium resource. While mineralization on adjacent properties is not necessarily indicative of mineralization on our property, this regional geological setting provides an important foundation for our exploration strategy.

“With growing global interest in secure and reliable nuclear fuel supplies, we believe this is an opportune time to advance our uranium assets in Paraguay. Our immediate priority is to verify historical exploration results, conduct field radiometric measurements, evaluate prospective uranium-bearing geological environments and systematically advance priority areas toward future drill targeting. We look forward to building on the historical work and unlocking the exploration potential of this expansive project,” added Greenway.

Field activities will also include radiometric measurements, photographic documentation, GPS georeferencing, inspections of accessible quarries and natural outcrops, and the collection of up to 100 representative rock or soil samples to support geological interpretation and future exploration planning.

The inaugural exploration program is expected to include the following key activities:

• Block Reconnaissance and Access Assessment: Conduct field reconnaissance across priority exploration blocks to identify access points, assess terrain conditions and establish logistical requirements for subsequent exploration activities.  

• Historical Drill Hole Verification: Locate and inspect historical exploration drill holes attributed to Anschutz Co., documenting their geographical positions, present conditions and surrounding geological characteristics through field observations, photographs and GPS coordinates.  

• Field Radiometric Measurements: Conduct field radiometric measurements using a portable scintillometer to record natural gamma radiation from rocks, soils and exposed outcrops, with particular emphasis on areas associated with historical uranium geochemical anomalies.  

• Quarry and Outcrop Inspection: Identify and examine accessible active and inactive quarries, natural outcrops and other exposed geological formations that may provide opportunities to observe fresher or better-preserved bedrock and assess geological characteristics relevant to uranium exploration.  

• Geological Sampling and Documentation: Collect up to 100 representative rock or soil samples from selected priority areas, supported by geological observations, photographic records and GPS georeferencing, to assist in evaluating uranium anomalies and refining future exploration targets.  

The Prometeo concession is contiguous with Uranium Energy Corp.’s (“UEC”) Yuty Project, placing Uranium One within an established uranium exploration district in southeastern Paraguay. However, mineralization identified on adjacent or nearby properties is not necessarily indicative of mineralization on the Company’s properties.

U.S.–Paraguay Cooperation and Uranium Investment

On October 21, 2026, the U.S. Department of State announced initiatives to deepen U.S.–Paraguay cooperation, including the start of negotiations toward an agreement for cooperation in the peaceful uses of nuclear energy. The Department also reported that Uranium Energy Corp. (UEC) announced a US$12 million investment to develop one of its uranium concessions in Paraguay. The Department did not identify the concession in its announcement. 1

The Company believes these developments demonstrate growing international attention to Paraguay’s uranium sector and the potential for expanded civil nuclear cooperation. A nuclear cooperation agreement remains subject to negotiation and entry into force. UEC’s announced investment relates to its own concession and does not involve Uranium One or its Yuty Prometeo–San Jose Uranium Project.

The Company announces that it received its Prospection Permit from Paraguay’s Vice Ministry of Mining and Energy ( "VMME" ), a critical step in commencing uranium exploration authorization across the project area.

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Figure 2 : Project map of the Yuty Prometeo Concessions showing regional road access, Uranium One’s San Jose and Prometeo concession boundaries, and the adjacent Uranium Energy Corp. (UEC) Yuty and Coronel Oviedo Projects.

Notes:

Uranium One concession blocks are shown as Uranium One Mining and outlined with black-orange lines. Radiometric anomalies: Increasing intensity is shown in yellow-pink-red-violet-blue.

About the Yuty Prometeo Project

Uranium One’s four concessions, including the three San Jose and one Yuty Uno concession, collectively span approximately 90,000 hectares (222,395 acres) within the prolific Paraná Basin, one of South America’s most promising uranium regions. The project area is located adjacent to Uranium Energy Corp.’s (“UEC”) established Yuty Deposit, which hosts an Indicated resource of 8.96 million pounds of U₃O₈. 2

The Yuty Prometeo consists of four (4) concessions—three (3) San Jose concessions and one (1) Prometeo concession—covering a combined area of approximately 90,000 hectares (222,395 acres) within the uranium-rich Paraná Basin in southeastern Paraguay.

The Prometeo Concession spans approximately 27,666 hectares (68,368 acres) and is directly contiguous to UEC’s Yuty Project. Historical records reference

27 drill holes on the Prometeo property, averaging 165 meters in depth. Spectral Gamma Downhole Logging of all these boreholes indicated the presence of uranium in seven of the holes -which averaged 175 m deep. Six of these seven holes reported anomalous uranium values of 0.01-0.02% U ₃ O ₈, and the seventh hole reported strongly mineralized rock of 0.05% to 0 .10% U ₃ O ₈ throughout its 107-meter length. 2

Data from previous work by the Anschutz Corporation suggest that the Prometeo block lies along geologic trend with UEC ’ s contiguous Transandes block. 3

The San Jose Concessions encompass approximately 62,210 hectares (153,754 acres) across three adjacent claims situated along the Upper Permian–Carboniferous contact, approximately 100 km northwest of UEC’s Yuty Project and 40 km west of its Coronel Oviedo Project. A radiometric car survey conducted over a 40 km by 10 km area delineated significant uranium anomalies across the properties. Collectively, these concessions represent a strategically positioned and highly prospective uranium exploration asset within one of South America’s most promising uranium districts.

The drill results referenced in this release are historical in nature. Uranium One has not yet completed the work necessary to independently verify these results in accordance with NI 43-101 and therefore they should not be relied upon. The Company plans to complete confirmatory drilling to verify the historical information.

About UEC’s Yuty ISR Project

UEC’s adjacent Yuty ISR Project in southeastern Paraguay spans approximately 117,359 hectares (290,000 acres) and hosts an Indicated resource of 8.962 million lbs U₃O₈ (9,074,000 tons grading 0.049% U₃O₈),  and an Inferred resource of 2.203 million lbs U₃O₈ (2,733,000 tons grading 0.040% U₃O₈), as disclosed in its July 1, 2022, technical report titled “Yuty Uranium Project Initial Assessment US SEC Subpart 1300 Regulation SK Report, Paraguay SA .” UEC’s Yuty project is considered amenable to low-cost, lower-impact in-situ recovery (ISR) mining method extraction UEC employs at its Texas operations. 3

UEC secured a 100% undivided interest in the Yuty Project through its March 30, 2012, acquisition of CUE Resources Ltd.

Uranium One’s management cautions that past results or discoveries on properties in proximity to Uranium One may not necessarily be indicative of the presence of mineralization on the Company's properties.

About Paraguay

The Republic of Paraguay is an emerging mining jurisdiction in the heart of South America, bordered by Brazil, Argentina, and Bolivia. Known for its political stability, low sovereign risk, and investor-friendly regulatory environment, Paraguay offers a supportive framework for mineral exploration and development. The country has a democratic government, strong legal protections for foreign investment, and a growing interest in unlocking its untapped mineral potential, particularly in uranium, rare earth elements, and base metals. With abundant land, a relatively low population density, and improving infrastructure, Paraguay is increasingly recognized as a geopolitically stable and strategically attractive destination for mining companies seeking long-term growth opportunities.

Qualified Person  

The scientific and technical information contained in this news release has been reviewed and approved by Lawrence Segerstrom, a consulting geologist who is a “Qualified Person” as such term is defined under National  Instrument 43-101 – Standards of Disclosure for Mineral Projects ( “NI 43-101” ) .

The QP reviewed the technical content, including the figures, historical data summaries, and adjacent property information, and confirms that the data have been accurately summarized where used.

About Uranium One Mining Corp.

Uranium One Mining Corp. is a Canadian mineral exploration company focused on the acquisition, exploration, and development of uranium projects and select battery metals assets. The Company is advancing a diversified portfolio of high-potential projects in Canada, Paraguay and Argentina, with a strategic focus on assets positioned to benefit from the increasing global demand for nuclear energy and secure energy supply chains.

The Company’s projects include the Quark Uranium Project, the Yuty Prometeo Uranium Project, and the Nucleon Uranium Project, each of which offers significant exploration upside and potential for resource expansion.

Uranium One Mining Corp. is committed to responsible exploration practices, disciplined capital allocation, and the creation of long-term shareholder value through the systematic advancement of its project portfolio.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn and X.com .

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

For further information, please contact:

Uranium One Mining Corp.
Brent Rusin
Phone: +1 672-533-0348
E-Mail:  brent@uraniumone.com

Forward-Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information is generally identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “may,” “will,” “could,” “potential” and similar expressions.

Forward-looking information in this news release includes, but is not limited to, statements regarding the commencement, continuation, timing, scope and anticipated completion of the Company's inaugural exploration program at its approximately 90,000-hectare Yuty Prometeo–San Jose Uranium Project in Paraguay; the anticipated benefits of the Prospection Permit issued by Paraguay's Vice Ministry of Mining and Energy (“VMME”); the Company's ability to conduct planned exploration activities in accordance with applicable regulatory requirements; geological reconnaissance and access assessments; the identification, location and verification of historical exploration drill holes attributed to Anschutz Co.; the interpretation and reliability of historical geological, geochemical and exploration data; the evaluation of previously identified uranium geochemical anomalies; planned field radiometric measurements using a portable scintillometer; geological mapping, photographic documentation and GPS georeferencing; the inspection of accessible quarries and natural outcrops; the proposed collection and analysis of up to 100 representative rock or soil samples; the identification and prioritization of prospective uranium exploration targets; the potential for future drilling programs; and the Company's plans to evaluate and advance the Yuty Uranium Project.

Forward-looking information is based on management's current expectations, estimates, assumptions and projections as of the date of this news release. Material assumptions underlying such information include, without limitation, the continued validity and applicability of the Prospection Permit; the Company's ability to obtain and maintain any additional permits, approvals, authorizations and land access rights required for exploration activities; the availability of sufficient financing to complete the planned exploration program; the availability of qualified geological personnel, contractors, equipment and technical services; the accuracy, completeness and reliability of historical exploration records and geological information; the accessibility of priority exploration areas and historical drill sites; favourable weather, logistical and operational conditions; the ability to collect and analyze geological samples; and the absence of material adverse changes affecting the Company's exploration plans or operations in Paraguay.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These include, without limitation, risks associated with mineral exploration and development; uncertainties regarding the accuracy and interpretation of historical geological, geochemical and radiometric data; the possibility that historical uranium anomalies may not be verified or that exploration activities may not identify economically significant uranium mineralization; the possibility that exploration results may not support the identification of viable drill targets; delays, restrictions or changes affecting permits, regulatory approvals or land access; environmental, health and safety risks; operational and logistical challenges associated with exploration activities in Paraguay; the availability and cost of financing, personnel, contractors and equipment; fluctuations in uranium prices, foreign exchange rates and general market conditions; changes in applicable mining, environmental and other laws and regulations in Paraguay or Canada; political, economic and regulatory risks associated with international mineral exploration; and other risk factors described in the Company's public disclosure documents filed on SEDAR+ at www.sedarplus.ca .

Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, there can be no assurance that they will prove to be correct. Actual results and future events may differ materially from those anticipated. Historical exploration results, regional uranium anomalies and mineralization identified on adjacent or nearby properties, including Uranium Energy Corp.'s Yuty Project, are not necessarily indicative of mineralization on the Company's properties. Readers are cautioned not to place undue reliance on forward-looking information.

The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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1  Source: U.S. Department of State, “U.S.-Paraguay Cooperation to Advance Prosperity and Security,” October 21, 2026: https://www.state.gov/releases/office-of-the-spokesman/2026/10/u-s-paraguay-cooperation-to-advance-prosperity-and-security

2  Source : Unpublished Report - Data from wells drilled by Anschutz Co. in the Prometeo Block https://www.uraniumenergy.com/news/releases/index.php?content_id=910

3  Source: YUTY URANIUM PROJECT, INITIAL ASSESSMENT, US SEC Subpart 1300 Regulation S-K Report, PARAGUAY, SA https://www.sec.gov/Archives/edgar/data/1334933/000143774922017351/ex_396105.htm  

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