Canadian Uranium Provides Update on Cable Lake Property Option Payments
CANADIAN URANIUM PROVIDES UPDATE ON CABLE LAKE PROPERTY OPTION
PAYMENTS
Vancouver, British Columbia – May 13, 2026 – Canadian Uranium Corp. (the “Company” or “Canadian
Uranium”) (CSE: CANU, OTCQB: CANUF, WKN: A41WE6) announces that it has entered into an
addendum (the “Addendum”) to the option assignment agreement dated October 1, 2025 (the “Assignment
Agreement”) among the Company, Citizen Mining Corporation (“ Citizen”) and Doctors Investments
Group Ltd. (“ Doctors”), pursuant to which Canadian Uranium acquired an undivided 80% interest in
Citizen’s rights under an option agreement dated November 12, 2024 between Citizen and Doctors (the
“Option Agreement”). As a result of the Assignment Agreement, Canadian Uranium and Citizen may
acquire an 80% interest and 20% interest, respectively, in the Cable Lake Property.
Pursuant to the Addendum, the parties agreed to amend the terms of the Option Agreement, such that to
exercise the option in accordance with the Option Agreement, Citizen and Canadian Uranium must:
• pay Doctors an aggregate of $1,250,000 as follows:
a) $350,000 on signing of the Option Agreement, which Citizen has paid;
b) $200,000 on or before July 1st, 2026;
c) $300,000 on or before July 1st, 2027; and
d) $400,000 on or before July 1st, 2028; and
• incurring exploration expenditures on the Property as follows:
a) $400,000 on or before September 1, 2026; and
b) $1,800,000 on or before December 31, 2028
As Canadian Uranium holds an 80% interest in the Option Agreement, Canadian Uranium is responsible
for 80% of the remaining payments and exploration expenditures required to exercise the option for the
Cable Lake Property.
About Canadian Uranium Corp.
Canadian Uranium Corp. is an emerging uranium exploration and development company focused on the
prolific Athabasca Basin - the world’s premier district for high -grade uranium deposits. The Company’s
strategy centers on assembling highly skilled technical teams with expertise in uranium geology, advanced
geophysics, and northern exploration logistics. Through disciplined acquisitions, innovative exploration
methodologies, and strategic partnerships, the Company aims to accelerate project advancement and unlock
value across its exploration portfolio.
Contact Information:
Canadian Uranium Corp.
Geoff Balderson, Chief Financial Officer
604-602-0001
Forward-Looking Statements
This news release contains certain forward-looking statements that are “forward looking information” within the
meaning of applicable securities laws. All statements that are not historical facts, including without limitation,
statements regarding future e stimates, plans, programs, forecasts, projections, objectives, assumptions,
expectations or beliefs of future performance, including statements regarding the Assignment Agreement, the
Addendum, and the performance and terms of the Option Agreement, , are “forward-looking information”. These
forward-looking statements reflect the expectations or beliefs of management of the Company based on
information currently available to it. Forward -looking statements are subject to a number of risks and
uncertainties, including those detailed from time to time in filings made by the Company with securities
regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-
looking statements. These factors should be considered carefully and readers are ca utioned not to place undue
reliance on such forward-looking statements. The forward-looking statements and information contained in this
news release are made as of the date hereof and the Company undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.