Stearman Resources Announces First Tranche Closing of Flow-Through Private Placement
STEARMAN RESOURCES INC.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN
THE UNITED STATES
STEARMAN RESOURCES ANNOUNCES FIRST TRANCHE CLOSING OF FLOW-THROUGH
PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA – November 28, 2025 – Stearman Resources Inc. (CSE: STMN)
(“Stearman” or the “Company”) is pleased to announce that it has closed the first tranche (the “First
Tranche”) of its non-brokered private placement of flow-through units (the “FT Units”).
Under the First Tranche, the Company issued an aggregate of 7,125,000 FT Units at a price of $0.20 per
FT Unit, for gross proceeds of $1,425,000. Each FT Unit is comprised of one flow-through common share
and one-half of one common share purchase warrant, with each whole warrant entitling the holder to
purchase one additional common share at an exercise price of $0.30 for a period of twenty-four (24) months
from the date of issuance.
All securities issued in connection with the First Tranche are subject to a statutory hold period of four (4)
months and one (1) day from the date of issuance, in accordance with applicable securities laws.
The FT Units will qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act
(Canada). The gross proceeds of the First Tranche will be used to incur qualifying Canadian exploration
expenses that will be renounced to purchasers of the FT Units in accordance with the Income Tax Act
(Canada) and applicable regulations.
In connection with the First Tranche, the Company paid aggregate cash finder’s fees totaling $69,300 and
326,500 finder’s warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder to acquire
one Share at a price of $0.30 for a period of twenty-four (24) months from the date of issuance.
Lester Esteban, the Company’s CEO, commented, “the closing of this first flow-through tranche represents
a meaningful milestone in advancing our uranium exploration agenda in the Athabasca Basin. Our team
remains committed to structured, data-driven exploration, disciplined deployment of capital, and efficient
execution of field programs. With planned operational work underway, 2026 is expected to be an active
year for project development, and we look forward to providing shareholders with regular updates as we
advance our portfolio."
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.
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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 use of proceeds from the First Tranche, the renunciati on of
qualifying Canadian exploration expenses to purchasers of the FT Units, the Company’s exploration and
development plans including proposed exploration programs at the Murphy Lake, Zoo Bay, and NeoCore
properties, the potential for additional tranches of the flow-through financing, 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 or 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, the Company’s ability to incur and renounce
qualifying Canadian exploration expenses as expected; risks related to mineral exploration and
development; changes in commodity prices and market conditions; operational risks; uncertainties
inherent to geological interpretations and exploration results; regulatory and permitting risks; reliance on
key personnel; risks associated with future financings; 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.
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