Mr. Geoff Balderson reports

CANADIAN URANIUM ANNOUNCES ACQUISITION OF 100% INTEREST IN CLARK LAKE PROPERTY IN THE ATHABASCA BASIN AND OTHER CORPORATE UPDATES

Canadian Uranium Corp. has entered into a property sale agreement dated Aug. 26, 2026, with Bromell Mining Inc., an arm's-length party to the company, to acquire a 100-per-cent interest in mineral claims covering an aggregate area of approximately 3,265.842 hectares in the Athabasca basin, collectively known as the Clark Lake property.

Clark Lake project

The Clark Lake project is an early-stage uranium exploration project located approximately eight kilometres north of Uranium City, Sask., within the historic Beaverlodge district. Based on a historical exploration results, the company believes the Clark Lake project hosts favourable geology and regional structures with electromagnetic and magnetic anomalies that provide targets for further uranium exploration. The Clark Lake project's proximity to numerous past-producing uranium mines around Uranium City also places Clark Lake within a proven uranium-bearing district, which the company believes strengthens the geological case for continued exploration.

"The addition of Clark Lake to our strategic portfolio adds yet another asset in the Athabasca basin, the most prolific uranium jurisdiction in the world, without adding to our company's burn rate. This transaction reflects the disciplined approach we continue to take as we build out our portfolio. I want to recognize the dedication of our entire team, who worked tirelessly through the summer preparing the company for its next growth phase. We're also very pleased with the new terms secured on Castle South, which as well further strengthens our every growing 100-per-cent focused uranium portfolio," stated Geoff Balderson, chief financial officer.

In consideration for the Clark Lake project, the company will pay Bromell $90,000 in cash and issue to Bromell 900,000 common shares in the capital of the company. The company will also grant to Bromell a 2-per-cent net smelter return royalty upon the commencement of commercial production at the Clark Lake project, which the buyer can reduce to 1.5 per cent by the company by paying Bromell $1.5-million.

The company considered the following factors in support of the purchase price of the acquisition:

• The Clark Lake project is located in the historic Beaverlodge district of the Athabasca basin, a unique area that hosts numerous past-producing uranium mines;
• Management's understanding of uranium prices and expected future uranium prices;
• Management's assessment of the exploration work performed on the Clark Lake project by prior property owners or operators.

Closing of the acquisition remains subject to the receipt of all necessary regulatory approvals, including the acceptance of the acquisition by the Canadian Securities Exchange. The acquisition consideration shares will be subject to a four-month resale restriction in accordance with applicable securities laws and the policies of the CSE.

New option at Castle South (formerly, Cable Lake)

Further to the company's news release of Aug. 14, 2026, where it was announced the company acquired the remaining 20 per cent of the Castle South option agreement, the company is pleased to announce that it has entered into a new option agreement with Doctors Investment Group Ltd. (the optionor), which replaces and supersedes the previous option agreement. Pursuant to the new Castle South option agreement, the company can earn a 100-per-cent interest in Castle South project (formerly referred to as the Cable Lake project), by paying an aggregate of $1-million to the optionor as follows:

1. $50,000 on signing of the new Castle South option agreement;
2. 250,000 common shares in the capital of the company within 10 days of CSE approval;
3. $100,000 on or before the first anniversary of the signing of the new Castle South option agreement;
4. $250,000 on or before the second anniversary of the signing of the new Castle South agreement; and
5. $600,000 on or before the third anniversary of the signing of the new Castle South agreement.

The company is also required to incur an aggregate of $2-million in exploration expenditures at the Castle South project as follows:

1. $300,000 on or before the first anniversary of the signing of the new Castle South agreement;
2. $700,000 on or before the second anniversary of the signing of the new Castle South agreement; and
3. $1-million on or before the fourth anniversary of the signing of the new Castle South agreement.

Pursuant to the new Castle South option agreement, the company will also pay a 2-per-cent net smelter return royalty to the optionor upon commencement of commercial production at the Castle South project, which can be reduced to 1.5 per cent upon payment of $1.5-million to the optionor by the company.

The new Castle South option agreement remains subject to receipt of all necessary regulatory approvals, including acceptance by the CSE. The option consideration shares will be subject to a four-month resale restriction in accordance with applicable securities laws and the policies of the CSE.

Gold Standard Media LLC agreement

The company also announces that it has engaged Gold Standard to provide investor relations and capital market services to the company. Under the terms of the engagement, Gold Standard will assist the company with investor communications/market awareness/capital market outreach/shareholder communications/digital communications, with the objective of increasing awareness of the company and its exploration portfolio among investors, analysts and other market participants. The engagement will commence on Dec. 1, 2026, and will have a term of 60 days, expiring on Jan. 29, 2027. In consideration for the services rendered by Gold Standard pursuant to the engagement, the company pay $100,000 (U.S.) to Gold Standard on Dec. 1, 2026, subject to applicable securities laws and the policies of the Canadian Securities Exchange. Gold Standard currently has no direct or indirect interest in the securities of the company, or any right or intent to acquire such an interest.

About Canadian Uranium Corp.

The company's strategy centres on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics and Northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies and strategic partnerships, the company aims to accelerate project advancement and unlock value across its exploration portfolio.

We seek Safe Harbor.