Mr. James Paterson reports

JOINT PRESS RELEASE OF FUTURE FUELS INC. AND VALORE METALS CORP. - FUTURE FUELS INC. ENTERS INTO AGREEMENT TO ACQUIRE HATCHET URANIUM CORP.

Future Fuels Inc., Hatchet Uranium Corp. (HUC) (a 51-per-cent-owned subsidiary of Valore Metals Corp.) and 1564470 B.C. Ltd. (Subco) (a wholly owned subsidiary of Future Fuels), have entered into an amalgamation agreement, pursuant to which Future Fuels has agreed to acquire all of the issued and outstanding securities of HUC by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia). Upon completion of the acquisition, the amalgamated entity will continue as a wholly owned subsidiary of Future Fuels and is expected to change its name to Future Fuels Athabasca Inc.

Rob Leckie, chief executive officer and a director of Future Fuels, commented: "The acquisition of HUC strengthens Future Fuels' existing portfolio of prospective uranium exploration properties. HUC's assets sit in the world-class Athabasca basin and are proximal to both existing uranium mines and recent exploration discoveries, making them exciting targets for further work. We look forward to planning the next steps in exploring this prospective land package."

Jim Paterson, chairman of Valore Metals and director of HUC, commented: "We are very happy to become significant shareholders of Future Fuels. This transaction creates a powerhouse in the Canadian uranium exploration sector, with a strong team, a large and prospective project portfolio, and a highly financeable corporate structure. These attributes will help attract capital and drive growth through well-funded exploration programs and increased market exposure."

Summary of HUC properties

HUC holds interests in five claim blocks (Hatchet Lake, CBX/Shoe, Usam, Genie and Highway) totalling approximately 97,674 hectares, located in the Wollaston Lake area of Northern Saskatchewan, along the eastern Athabasca basin margin and largely within the Wollaston-Mudjatik transition zone (WMTZ).

The properties have been explored since the late 1960s with airborne and ground geophysics, geological mapping, prospecting, geochemical sampling, and limited diamond drilling. Recent work included data compilation and target generation using Vrify artificial intelligence (AI), airborne mobile MT (magnetotelluric) surveys, ground geophysics, and prospecting and rock sampling completed in 2025.

Hatchet Lake property

HUC holds six mineral claims totalling approximately 13,711 hectares known as the Hatchet Lake property, located north of Wollaston Lake within the northeastern extension of the WMTZ, approximately 75 kilometres east of the Athabasca basin margin.

The Hatchet Lake property has been explored since 1968 with airborne EM (electromagnetic), magnetic and radiometric surveys, geological mapping, prospecting, soil and lake sediment sampling, and diamond drilling. Recent work included Vrify AI target generation, ground magnetics, VLF-EM and radiometrics at Scrimes Lake, and prospecting and rock sampling. Scrimes Lake returned spectrometer readings up to 22,000 counts per second and 1,637 parts per million, with rock sample assays up to 0.498 weight per cent U3O8 (triuranium octoxide).

HUC acquired the Hatchet Lake property pursuant to a mineral property purchase agreement dated March 16, 2024, between Valore and HUC, as amended by an amendment agreement dated Jan. 22, 2026. The Hatchet Lake property is subject to a 2-per-cent net smelter return royalty payable to Rio Tinto Exploration Canada Inc.

Highway property

HUC holds an option to acquire an 80-per-cent interest in nine mineral claims totalling approximately 17,606 hectares known as the Highway uranium property, located south of Wollaston Lake along Highway 905, outside the main WMTZ but within the eastern Athabasca basin region and near regional fault systems.

Historical exploration work on the Highway property includes airborne magnetics, ZTEM (Z-tipper electromagnetic) and lake sediment surveys with no historical diamond drilling. Recent work included Vrify AI target investigation, a 1,226 line-kilometre airborne mobile MT survey, and prospecting and rock sampling, identifying uranium-bearing pegmatite and granite boulders with spectrometer readings up to 4,366 counts per second and 230 parts per million uranium.

HUC acquired the Highway property option pursuant to an option agreement with Skyharbour Resources Ltd. dated Oct. 29, 2024, as amended effective Feb. 10, 2025, further amended effective Jan. 21, 2026, and further amended effective Feb. 19, 2026. Upon exercise of the Highway property option, the Highway property will be subject to a 2-per-cent net smelter return royalty payable to Skyharbour on mineral products from the Highway property.

Ancillary properties

HUC also holds 25 mineral claims totalling approximately 66,358 hectares comprising the properties known as the Genie, Usam and CBX/Shoe uranium projects, located peripheral to the Athabasca basin in Northern Saskatchewan, Canada.

HUC acquired the ancillary properties pursuant to a mineral property acquisition agreement with Skyharbour dated Oct. 29, 2024, as amended effective Jan. 21, 2026, and further amended effective Feb. 19, 2026. The ancillary properties are subject to a 2-per-cent net smelter return royalty payable to Skyharbour on minerals mined and removed therefrom.

CBX/Shoe properties

The CBX/Shoe properties comprise eight mineral claims totalling 9,386 hectares (CBX: 8,777 hectares, Shoe: 609 hectares). Historical exploration work on these properties includes airborne EM, magnetic and radiometric surveys with limited drilling (one diamond drill hole on CBX) and lake sediment and soil sampling. Recent work included Vrify AI target investigation, a 273 line-kilometre airborne mobile MT survey, and prospecting and rock sampling, returning boulder spectrometer readings up to 2,240 counts per second and 121 parts per million uranium.

Usam property

The Usam property comprises 12 mineral dispositions totalling 40,041 hectares, located north of Wollaston Lake and mostly within the WMTZ, with a small portion outside the domain. Historical exploration work on this property includes airborne magnetics, EM, gravity and radiometric surveys, and 22 historical diamond drill holes, with uranium anomalies reported from lake sediments, soils, vegetation and rock sampling. Recent work included Vrify AI target investigation, a 2,261 line-kilometre airborne mobile MT survey, and prospecting and rock sampling, returning uranium values up to 683 parts per million uranium and spectrometer readings exceeding 3,000 counts per second in the south-central islands and Broughton Bay areas.

Genie property

The Usam property comprises five mineral dispositions totalling 16,930 hectares, located north of Wollaston Lake along the eastern Athabasca basin margin within the WMTZ geological domain. Historical exploration work on this property includes airborne geophysics, lake sediment sampling and two historical diamond drill holes, with historical uranium showings at Gallagher Lake and Henning Bay East. Recent work included Vrify AI prospectivity modelling and prospecting and rock sampling in lake sediment anomaly and historical showing areas, returning spectrometer readings up to 3,262 counts per second with elevated thorium values in pegmatite and granite.

Terms of the amalgamation agreement

Under the terms of the amalgamation agreement, HUC will amalgamate with Subco, and Future Fuels will acquire all of the outstanding securities of HUC on the following basis: (i) each common share of HUC will be exchanged for 0.760836 of a common share in the capital of Future Fuels; and (ii) each common share purchase warrant of HUC will be exchanged for 0.760836 of a common share purchase warrant of Future Fuels.

In connection with the amalgamation agreement, HUC has also entered into a financial advisory consulting agreement dated Oct. 24, 2025, as amended, with an arm's-length third party, pursuant to which the consultant or its assignee will acquire an unsecured convertible debenture in the principal amount of $250,000, bearing interest at 0 per cent per annum and automatically convertible into five million HUC shares immediately prior to the completion of the acquisition, subject to certain conditions.

In total, it is expected that there will be 19,715,165 HUC shares and 1,452,013 HUC warrants issued and outstanding immediately prior to the completion of the acquisition and that approximately 15,000,007 consideration shares and 1,104,743 consideration warrants will be issued to the former securityholders of HUC upon completion of the acquisition.

The consideration shares and consideration warrants issued to the HUC securityholders may be subject to escrow and/or resale restrictions under the policies of the TSX Venture Exchange and applicable securities laws. In addition, the following voluntary contractual restrictions on transfer will apply to such securities:

1. 2,353,905 of the consideration shares will be subject to the following hold periods: one-12th of such shares will be released every 30 days, with the first such release occurring on the date that is 60 days following the closing date of the acquisition;
2. 12,646,095 of the consideration shares will be subject to the following hold periods: 25 per cent of such shares will be released every six months, with the first such release occurring on the date that is 12 months following the closing date;
3. The common shares of Future Fuels to be issued upon due exercise of the first 16 per cent of the consideration warrants to be exercised by each holder thereof, if any, will be subject to the following hold periods: one-12th of such shares will be released every 30 days, with the first such release occurring on the date that is 60 days following the closing date;
4. The common shares of Future Fuels to be issued upon due exercise of the remaining 84 per cent of the consideration warrants to be exercised by each holder thereof, if any, will be subject to the following hold periods: 25 per cent of such shares will be released every six months, with the first such release occurring on the date that is 12 months following the closing date.

The completion of the acquisition is subject to certain conditions precedent, including, but not limited to, the following:

1. The exchange shall have conditionally approved the acquisition.
2. The shareholders of HUC shall have approved the acquisition and amalgamation at a special meeting of the HUC shareholders.
3. Rights of dissent with respect to the amalgamation shall not have been exercised by HUC shareholders holding more than 10 per cent of the outstanding HUC shares.
4. HUC shall have a working capital deficit of not more than $200,000 and no long-term debt (other than the HUC convertible debenture) as at the closing date.

There can be no guarantees that the transaction will be completed as contemplated or at all.

About Future Fuels Inc.

Future Fuels' principal asset is the Hornby project, covering the entire 3,407-square-kilometre Hornby basin in northwestern Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake System. Additionally, Future Fuels holds the Covette project in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.

About Hatchet Uranium Corp.

Hatchet Uranium was incorporated by Valore on Feb. 7, 2024. Mr. Paterson, Valore's chairman, serves as HUC's chief executive officer and sole director. HUC's head and registered office is located at Suite 1020, 800 West Pender St., Vancouver, B.C., V6C 2V6.

About Valore Metals Corp.

Valore Metals is a Canadian company with a team aiming to deploy capital and knowledge on projects that benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration and innovation.

Valore Metals is a proud member of Discovery Group.

Qualified person

The technical information in this news release has been prepared on behalf of Valore and HUC in accordance with Canadian regulatory requirements set out in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and reviewed and approved by Thiago Diniz, PGeo, Valore's qualified person and vice-president of exploration.

We seek Safe Harbor.