Mr. Geoff Balderson reports

CANADIAN URANIUM CORP. ANNOUNCES FILING OF UPDATED NI 43-101 TECHNICAL REPORT ON ROOK II PROPERTY

Canadian Uranium Corp. has filed an independent National Instrument 43-101 technical report on the Rook II property.

Rook II property overview

The Rook II property comprises approximately 18,941 hectares encompassing 21 mineral dispositions in Saskatchewan. It is located approximately 40 kilometres east of Stony Rapids and about 10 kilometres northeast of the northern margin of the Athabasca basin. The technical report documents 28 uranium mineral occurrences across the property. The area has a long history of exploration, including work conducted from the late 1940s through approximately 1975 and subsequent exploration activity.

Historical uranium showings and a phased exploration approach

The technical report details several historical estimates on portions of the Rook II property. The most significant of these are:

• The Fisher-Hayes uranium deposit (SMDI 1644, File 74P07-0030), with a historical reserve of 1.9 million tons of uranium at 0.80 pound per ton (1.52 million pounds of uranium oxide);
• The Higginson Lake uranium deposit (SMDI 1651, File 74P07-0030), with a historical estimate of 200,000 tons averaging over two pounds per ton uranium oxide (400,000 pounds of uranium oxide);
• The Row uranium showing (SMDI 1977; Sassano, 1974, File 74P07-0054): historical estimate from Dr. G.P. Sassano estimated that the Charlebois Lake pegmatite complex contains up to 45 million pounds of uranium oxide in rock averaging 0.075 per cent uranium oxide (1.50 pounds per ton uranium oxide) projected to a vertical depth of 1,000 feet;
• The UR uranium showing (SMDI 1666, File 74P07-0060), with estimated historical reserves: two million tons grading 0.05 per cent uranium oxide to a depth of 1,000 feet (two million pounds of uranium oxide).

The company cautions that a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The technical report specifically notes that historical estimates require verification through modern exploration. The company is using the historical estimates and historical exploration work on the Rook II property as evidence of prospectivity and to guide future exploration work. The company is not treating these historical estimates as a current mineral resource or mineral reserve.

Canadian Uranium intends to approach this vast property methodically, with the intention of rebuilding a reliable technical understanding of the historical work and, if supported by exploration results, work toward defining a mineral resource prepared in accordance with current NI 43-101 standards. To that end, the company is in the final phase of GIS (geographic information service) digitization of historical diamond drill logs, trenching and surface sampling.

Comment from Arni Johannson

Mr. Johannson, adviser and international uranium investor, founder of Titan Uranium, and former director of Mega Uranium for more than 18 years, commented: "Uranium fundamentals are increasingly drawing attention to the strategic importance of secure, long-term nuclear fuel supply, yet I believe some of the most compelling opportunities remain in the early stages of the exploration cycle. Historically, the greatest value creation in mineral exploration has often occurred before a discovery is fully understood and recognized by the broader investment market. In my view, the current uranium market may be presenting one of the best potential investment opportunities of a lifetime for investors who understand the fundamentals, recognize the importance of disciplined exploration and are prepared to take a long-term perspective. The Rook II offers Canadian Uranium an opportunity to revisit a large, historically explored land package, apply modern techniques to historical data and methodically evaluate its potential. The opportunity is significant, but the next stage is about disciplined work, verification and demonstrating value through results."

Rook II exploration

The technical report recommends an initial phase that includes approximately 35 line kilometres of ground magnetic and radiometric surveys, together with approximately 35 line kilometres of induced polarization surveys over selected areas. A subsequent phase recommends an initial 6,000 metres of drilling. Any exploration program will be subject to financing, permitting, contractor availability and the company's evaluation of priorities.

Over the next 90 days, the company plans to initiate its inaugural field exploration program, comprising ground radiometric surveying, geological mapping, trenching, induced polarization (IP) surveying and man-portable Shaw drilling to test prospective mineralized structures. The timing and scope of the program will be subject to weather conditions and the receipt of necessary permits.

Target electromagnetic (EM) survey completion

In September, 2026, the company completed a 1,121-line-kilometre airborne magnetic and electromagnetic geophysical survey over the areas associated with the historical estimates, with particular emphasis on the Fisher-Hayes and Row deposits and the Charlebois Lake area. The survey results will be integrated with digitized historical exploration data, including drilling and trenching records, to refine geological interpretations, identify prospective targets and prioritize future exploration activities. The complete survey data set is expected to be delivered to the company within the next 30 days.

Qualified person and technical report

The independent technical report was prepared by Francis R. Newton, PGeo. The report's effective date is June 25, 2026, and its report date is Oct. 16, 2026. Francis R. Newton, PGeo, an independent qualified person to the company, as defined in NI 43-101, has reviewed and approved the written scientific or technical information contained in this news release.

About Canadian Uranium Corp.

Born in Canada, built for the world, unlocking tomorrow's clean energy: 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.

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