Closing of Property Acquisition
First American Uranium Inc. Completes Acquisition of Rare Earth
Elements Niobium Properties in the Grenville Province, Quebec
Vancouver, BC, October 16, 2025 – First American Uranium Inc. (CSE: URM) (FSE: IOR)
(OTCPK: FAUMF) (“First American Uranium” , or the “Company”) is pleased to announce
that, further to its news release dated Oct ober 7, 2025, it has completed the acquisition (the
“Acquisition”) of a 100% legal and beneficial interest in certain mineral properties comprising a
strategic land package in the Gren ville Province of Quebec (the “ Properties”), pursuant to the
terms of a property purchase agreement (the “ Agreement”) dated October 6, 2025, among the
Company and a group of arm’s length vendors (the “Vendors”).
Under the terms of the Agreement, the Vendors transferred to the Company a 100% interest in the
Properties, free and clear of all encumbrances. As consideration, the Company issued an aggregate
of 4,020,000 common shares (the “Consideration Shares”) at a deemed issuance price of $0.85
per Consideration Share to the Vendors upon closing. The Consideration Shares will be allocated
among the Vendors in varying amount s, corresponding to their respec tive ownership interests in
the Properties.
The Consideration Shares will be issued pursuant to exemptions from the prospectus requirements
of applicable Canadian securities laws and will be subject to a statutory hold period of four months
and one day from the date of issuance.
This Acquisition marks First American Uranium’s initial entry into Quebec, regarded as a mining-
friendly jurisdiction, with the Properties located in the Grenville Province – a region that the
Company believes is recognized for its elevated number of rare earth elements (“REE”), niobium
(“Nb”), and nickel-copper (“Ni-Cu”) occurrences.
The Properties host multiple high-priority showings, including;
Blanchette-1 (REE & Ni-Cu): A grab sample collected by Quebec government geologists
returned 2.7% Total Rare Earth Elements (TREE), including 4,090 ppm neodymium (Nd).
On this same outcrop, A nickel-copper quart z vein sample returned 0.25% Cu and 0.1%
Ni, hosted in a highly deformed paragneiss associated with gabbro boudins.
Blanchette-2 (REE): A grab sample collected by Quebec government geologists returned
0.17% Total Rare Earth Elements (TREE), including notable concentrations of Ce and Nd,
as well as elevated Zr, Nb, Th, and Y.
Bardy (REE): A grab sample collected by Quebec government geologists returned 0.68%
TREE, including 1,150 ppm Nd, hosted in a granitic pegmatite 40cms to 4m wide.
Seigneurie Deposit (Nb-REE) : Originally drilled by SOQU EM in 1978, the area hosts
pegmatites up to 50 metres wide, which remain largely unexplored and unassayed for REE
and Nb. In 2010, a local prospector collected grab samples, one of which returned 3,190
ppm Nb and 4,031 ppm Total Rare Earth Elements (TREE).
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In addition to the 39 claims covering 2,240 hectares acquired under the Agreement, the Company
has separately staked an additional 480 cla ims covering 27,696 hectares in and around the
Properties. Collectively, this land package now totals 519 claims covering 29,936 hectares.
Niobium and rare earth elements ar e critical for applications in defense and aerospace, including
jet engine superalloys, hypersonic missile systems, rocket nozzles, and advanced super conducting
technologies such as qubits fo r quantum computing. Securing thes e resources in stable, North
American jurisdictions is incr easingly important as governments work to strengthen domestic
supply chains.
Though the Company has not directly applied for any specific funding programs or grants, it
intends to explore non-dilutive funding opportunities with agencies such as the U.S Department of
Energy, Department of Defense, and Export-Impor t Bank of the United States (EXIM). These
opportunities could help accelerate development in alignment with U.S critical mineral policies
and support the Company’s potential contribution to U.S defense and energy security initiatives.
“This acquisition marks an important step for our company as we look to deliver critical minerals
and rare earth elements supply into North America,” said Murray Nye, Chief Executive Officer of
First American Uranium. “These Grenville Provin ce Properties allow us to extend our strategy
into the critical minerals space in a time where the need to secure domestic supply chains has never
been greater. Our team is excited to work with all stakeholders to advance the exploration and
development of these assets and bring to market a critical minerals company for Canada.”
The Acquisition strategically expands the Comp any’s exploration portf olio within a highly
prospective region of the Grenville Province. The addition of these assets is expected to strengthen
the Company’s growth pipeline, enhance its regional presence, and create long-term opportunities
for shareholder value through ongoing exploration and development.
For additional details regardi ng the Properties, please see the Company’s news release dated
October 7, 2025, available under the Company’s profile on www.sedarplus.ca.
ABOUT FIRST AMERICAN URANIUM INC.
First American Uranium Inc. is a North Ameri can mineral exploration company focused on the
acquisition and development of precious, base, and critical mineral assets. Its portfolio includes
the Silver Lake property in British Columbia’s Omineca Mining Division and a recently acquired
land package in Quebec’s Grenville Province. The Quebec properties add exposure to rare earth
elements (REE), niobium (Nb), and nickel-copper (Ni-Cu) occurrences, expanding the Company’s
footprint into critical minerals that are strategically important for energy and defense applications.
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
Chief Executive Officer
1055 West Georgia Street, Suite 1500
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Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
CSE:URM
OTCPK:FAUMF
FSE:IOR
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
securities in the United States. The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”),
or any applicable state securities laws, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws, or pursuant to an available exemption from such registration
requirements.
Forward-Looking Statements
This news release contains “f orward-looking statements” within the meaning of applicable
Canadian securities legislation. All statements in this release, other than st atements of historical
fact, that address events, results, outcomes or developments that the Company expects, anticipates
or intends to occur in the future, or that otherw ise reflect management’s expectations or beliefs
about future events, are forward-looking statem ents. Forward-looking statements are generally,
but not always, identified by the use of words and phrases such as “expects,” “plans,” “anticipates,”
“believes,” “intends,” “estimates ,” “projects,” “potential,” “oppor tunity,” “strategy,” “target,”
“forecast” and similar expressions, or statements that events, conditions or results “will,” “would,”
“may,” “could,” or “should” occur or be achieved.
Forward-looking statements in this release include, but are not limited to: (i) statements regarding
the Properties and their minera l prospectivity; (ii) the Co mpany’s planned exploration,
development and evaluation activities on the Prope rties; (iii) the anticipated benefits of the
Acquisition, including the expansion of the Company’s exploration portfolio, increased exposure
to critical mineral targets, and the potential to enhance long-term shareholder value; and (iv) the
potential for the Grenville Province to host significant rare earth element, niobium, nickel-copper
or other critical mineral depos its. Such forward-looking statemen ts are based on the Company’s
current plans, intentions, expectations and beliefs and are subject to certain assumptions, including,
without limitation, assumptions th at required regulatory approvals will be obtained in a timely
manner, that financing will be available on reas onable terms, and that exploration results will
continue to support the prospectivity of the Properties.
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Although the Company believes the e xpectations expressed in such forward-looking statements
are reasonable, such statements are not guarantee s of future performance or outcomes and actual
results may differ materially from those expressed or implied in the forward-looking statements.
Factors that could cause actual resu lts to differ materially from those anticipated include, but are
not limited to: the timing and r eceipt of required regulatory approvals; changes in commodity
prices and market conditions; the availability of capital and financing on acceptable terms; general
economic, business and political conditions; risk s inherent in mineral exploration and
development, including operational risks, geol ogical uncertainties, en vironmental risks and
accidents; changes in government regulation or policy; and the speculative nature of mineral
exploration and development. Additional inform ation regarding risks an d uncertainties faced by
the Company is available in the Compa ny’s public disclosure record on SEDAR+
(www.sedarplus.ca).
Readers are cautioned that forwar d-looking statements are not guarantees of future performance,
and undue reliance should not be placed on them. The forward-looking stat ements contained in
this release are made as of the date hereof a nd are based on information currently available and
management’s beliefs, estimates, expectations and opinions at that time. Except as required by
applicable securities laws, the Company undertakes no obligation to update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise.
Qualified Person
The scientific and technical information containe d in this news release has been prepared in
accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI
43-101”). Clyde McMillan, P.Geo., a consultant to the Company and a Qualified Person as defined
under NI 43-101, has reviewed and approved the technical information contained herein.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of
this release and has neither approved nor disapproved the contents of this press release