Mr. David Greenway reports

VANGUARD ADVANCES PARAGUAY URANIUM STRATEGY WITH NEW ENVIRONMENTAL LICENCES AS PARAGUAY JOINS UNITED STATES CRITICAL MINERALS SUMMIT

Vanguard Mining Corp. has received its final set of environmental licences, bringing the total to four environmental licences, from Paraguay's Ministerio del Ambiente y Desarrollo Sostenible (MADES) as part of the regulatory advancement of the company's 90,000-hectare Yuty Prometeo-San Jose uranium project in southeastern Paraguay.

In parallel with the receipt of these licences, Vanguard has applied for its Prospection permit with Paraguay's Vice Ministry of Mining and Energy (VMME), a critical step toward full-scale uranium exploration authorization across the project area. "The environmental licences now cover the entirety of Vanguard's land position at Yuty Prometeo-San Jose and represent the final environmental approvals required for the project, with no additional environmental licences outstanding. This positions the company at an advanced stage of the Paraguayan permitting process.

This regulatory milestone comes as Paraguay's role in global critical mineral supply chains gains visibility, underscored by its recent participation alongside the United States at a high-level ministerial summit in Washington, D.C., hosted by the U.S. Department of State. The Feb. 4 meeting focused on technical co-operation, strategic investment and supply-chain alignment for critical minerals, including uranium, lithium and rare-earth elements. Deputy Minister of Mines and Energy Mauricio Bejarano said surging global demand has firmly placed Paraguay on the radar of international partners.

Vanguard believes this alignment reinforces the strategic relevance of its uranium portfolio as the United States and its allies accelerate efforts to secure diversified, transparent, and geopolitically stable sources of nuclear fuel and other critical materials essential to energy security, advanced technologies and national defence initiatives.

David Greenway, chief executive officer of Vanguard Mining, commented: "The receipt of our final MADES environmental licences marks a significant permitting milestone and further advances the Yuty Prometeo-San Jose uranium project toward Prospection authorization. These approvals meaningfully derisk the project and reflect continued regulatory progress in Paraguay.

"As global demand for uranium and other critical minerals continues to grow, Paraguay is emerging as a stable and underexplored jurisdiction of increasing strategic relevance. Vanguard is focused on responsibly advancing high-quality uranium assets and positioning the company to participate in the development of diversified and secure nuclear fuel supply chains."

About the Yuty Prometeo project

Vanguard'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 Parana 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 (triuranium octoxide).

The Yuty Prometeo consists of four concessions -- three San Jose concessions and one Prometeo concession -- covering a combined area of approximately 90,000 hectares (222,395 acres) within the uranium-rich Parana 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 metres in depth. Spectral Gamma down hole 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 to 0.02 per cent U3O8, and the seventh hole reported strongly mineralized rock of 0.05 per cent to 0.10 per cent U3O8 throughout its 107-metre length.

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

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-kilometre-by-10-kilometre 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. Vanguard has not yet completed the work necessary to independently verify these results in accordance with National Instrument 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 8,962,000 pounds U3O8 (9,074,000 tons grading 0.049 per cent U3O8), and an inferred resource of 2,203,000 lb U3O8 (2,733,000 tons grading 0.040 per cent U3O8), as disclosed in its July 1, 2022, technical report titled "Yuty Uranium Project Initial Assessment U.S. 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.

UEC secured a 100-per-cent undivided interest in the Yuty project through its March 30, 2012, acquisition of CUE Resources Ltd.

Vanguard's management cautions that past results or discoveries on properties in proximity to Vanguard 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.

About Vanguard Mining Corp.

Vanguard Mining is a Canadian mineral exploration company focused on the discovery and development of high-value strategic minerals. The company is currently advancing uranium exploration projects in the United States and Paraguay, with a focus on identifying and developing assets critical to the global energy transition. Vanguard is committed to responsible exploration and value creation through the acquisition and advancement of highly prospective uranium properties.

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.

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.

We seek Safe Harbor.