Stearman Resources Reports AGM Results and Management Changes
STEARMAN RESOURCES INC.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN
THE UNITED STATES
STEARMAN RESOURCES REPORTS AGM RESULTS AND MANAGEMENT CHANGES
VANCOUVER, BRITISH COLUMBIA – November 27, 2025 – Stearman Resources Inc. (CSE: STMN)
(“Stearman” or the “Company”) is pleased to announce that shareholders approved all routine matters put
forward at the Company’s Annual General Meeting (“AGM”) held earlier today in Vancouver, British
Columbia. At the AGM, Mr. Lester Esteban and Mr. Matthew Schwab were appointed to the Board of
Directors, which remains at five, including continuing directors, Mr. Howard Milne, Mr. Kirby Renton and
Mr. James Place and now adds Mr. Esteban and Mr. Schwab.
Mr. Matthew Schwab is an acclaimed exploration geologist who, in 2014 as Senior Exploration Geologist
at NexGen Energy Ltd., was instrumental in the discovery of the Arrow uranium deposit located in the
southwestern Athabasca Basin. Mr. Schwab was also a member of the Hathor Exploration Ltd. development
team, where he contributed to the sale of the Roughrider deposit to Rio Tinto for $654 million. More
recently, he served as Chief Executive Officer of Kraken Energy Corp. His prior roles include co-founding
Axiom Exploration Group Ltd. and serving as President, Senior Advisor, and Founder of multiple
successful private and public mineral exploration and energy consulting firms within the Canadian mining
and petroleum industries. Mr. Schwab currently serves as Chief Executive Officer and Director of Stallion
Uranium Corp. and as Executive Director of Atomic Minerals Corp.
The Company is also pleased to announce the appointment of Mr. Kirby Renton as Chief Operating Officer,
In addition, the Company announces that Mr. Steve Mathiesen has resigned as Chief Financial Officer
(“CFO”) and Corporate Secretary of Stearman. The Company thanks Mr. Mathiesen for his contributions
and wishes him well in his future endeavors. The Company is also pleased to report that Mr. Rick Mah has
been appointed CFO and Corporate Secretary effective today.
Mr. Mah has more than 25 years of corporate finance experience in technology, finance and hospitality
industries. During that time, he has held progressively senior finance roles with public and private
companies. He has supported numerous financing activities helping raise over $700 million of capital. In
addition, he was a key contributor in a number of strategic transactions, ranging from $1 million to $3.4
billion, including valuation and integration activities. Rick holds a Bachelor of Business Administration
from Simon Fraser University and is a Chartered Professional Accountant and CFA Charter holder.
Lester Esteban, CEO and director, commented: “2026 is expected to be an important year for Stearman
Resources as we continue advancing our exploration strategy and evaluating opportunities to expand our
land position. Our operational focus remains on progressing high-potential uranium targets and preparing
for drill programs anticipated to begin in the second and third quarters of the year.
As exploration work advances, the Company expects to provide regular technical updates, including
geological observations and assay results when available, consistent with standard disclosure practices for
a CSE-listed exploration issuer. In parallel, management will continue reviewing additional uranium
properties that may complement the existing portfolio.
This planned activity is intended to deliver multiple operational milestones throughout 2026, including
target refinement, drilling, and project expansion work. We look forward to keeping shareholders updated
as this work progresses.”
2
The Company also announces that it has amended the terms of a previously disclosed consulting advisory
agreement dated September 25, 2025 with 1000968866 Ontario Ltd. (the “ Consultant”). Under the
amended agreement, the Consultant will continue to provide financial, marketing, strategic and market-
related advisory services to the Company for an extended term of twelve (12) months which commenced
on November 17, 2025, in consideration for a total fee of $221,000 CAD. The Company will not issue any
securities to the Consultant in consideration for the services. The Consultant does not have any prior
relationship with the Company and the Company and the Consultant deal at arm’s length. As of the date
hereof, to the company's knowledge, the Consultant (including its directors and officers) do not own any
securities of the Company.
About Stearman
Stearman Resources Inc. is a Canadian-based junior mineral exploration company doing business as
UraniumX Discovery Corp., singularly focused on advancing uranium discovery in Canada's Saskatchewan
Athabasca Basin. Its core assets sit on the eastern margin of the Athabasca Basin, a premier global district
known for hosting 10 of the world’s top 15 highest-grade uranium deposits.
Murphy Lake Uranium Property is the Company’s flagship, where Stearman is earning up to 70% through
an option with F4 Uranium. Adjacent to the world-class Wollaston Domain, the property benefits from
conductors, strong alteration, and proven 2022 drilling that intercepted anomalous radioactivity near the
Basin’s unconformity.
The Company also owns 100% of the Zoo Bay Uranium Project (15 claims; 19,850 ha), positioned near
structural and magnetic features historically linked to uranium -thorium occurrences and conductivity
corridors near Newnham Lake and neighbouring claims.
Stearman further holds a 100% interest in the NeoCore Uranium Property (6 claims; 13,012 ha), located 65
km southeast of McArthur River Mine, within a stable, high-grade mining district supported by mills,
power, all-season roads, and established exploration infrastructure.
Exploration programs incorporate geophysics, drilling, and a research collaboration with University of
Saskatchewan leveraging quartz-degradation analytics to sharpen target selection.
On Behalf of Stearman Resources Inc.
Lester Esteban, CEO
Contact:
Stearman Resources Inc.
Howard Milne, President
Email: [email protected]
Telephone: (604) 377-8994
Website: www.stearmanresources.com
Forward Looking Statements
This news release may contain “forward-looking information” and “forward-looking statements” within
the meaning of applicable Canadian securities laws. All statements in this release, other than statements
of historical fact, that address events, conditions, or developments the Company expects or anticipates may
occur, are forward-looking statements. Forward-looking statements in this news release include, but are
not limited to, statements regarding: the Company’s exploration and development plans; the anticipated
3
benefits of recent management appointments; the Company’s expectations regarding its amended
consulting advisory agreement; and the Company’s general strategic, operational and financial objectives.
Forward-looking statements are often identified by words such as “expects”, “plans”, “anticipates”,
“intends”, “believes”, “estimates”, “projects”, “potential”, or variations of such words, and phrases such
as “may”, “could”, “would”, “should”, or “will” occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results may differ materially from those expressed o r
implied in the statements.
Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that
may cause actual results to differ materially from those anticipated, including, but not limited to: risks
related to mineral exploration and development; changes in commodity prices and market conditions;
operational risks; uncertainties inherent to geological interpretations and exploration results; risks related
to regulatory approvals and compliance; reliance on key personnel; the Company’s ability to effectively
implement management and operational transitions; and other risks described in the Company’s public
disclosure documents available on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not
undertake any obligation to update or revise any forward -looking information except as required by
applicable securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its
regulation services provider accepts responsibility for the adequacy or accuracy of this release.