First American Uranium Announces Settlement of Debt by Issuance of Shares

• NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -

Vancouver, British Columbia – July 5, 2024 – First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) (the “Company”) announces, further to its news release of May 16, 2024, that the Company has issued 500,000 common shares in the capital of the Company (the “Shares”) at a deemed price of $0.05 per Share to an arm’s length creditor (the “Creditor”) for settlement of a bona fide debt owing to the Creditor in an aggregate amount of $25,000 for market making services provided to the Company by the Creditor (the “Shares for Debt Settlement”).

All the Shares issued in connection with the Shares for Debt Settlement are subject to a statutory hold period of four months plus a day ending on November 6, 2024 in accordance with applicable securities legislation.

About First American Uranium Inc.

First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Silver Lake and Red Basin properties. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast of the town of Houston, in the Omineca Mining Division, British Columbia. The Company has acquired a 60% interest in a company that indirectly holds a 100% interest in the Red Basin uranium/vanadium mineral claims located in Catron County, New Mexico.

ON BEHALF OF THE BOARD

“Shawn Balaghi”

Shawn Balaghi, Chief Executive Officer

For further information, please contact: Telephone: (604) 773-0242

The CSE does not accept responsibility for the adequacy or accuracy of this release.

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