Union Power Metals Strengthens Leadership Team with Critical Minerals Experts and Grants Performance-Based Security Compensation
UNION POWER METALS CORPORATION
(formerly Nuclear Vision Limited)
(CSE: UPPR)
FOR IMMEDIATE RELEASE
Union Power Metals Strengthens Leadership Team with Critical Minerals
Experts and Grants Performance-Based Security Compensation
Vancouver, British Columbia – May 11, 2026 – Union Power Metals Corporation (“Union
Power Metals” or the “Company”) (CSE: UPPR) is pleased to announce the addition of Mr. Erez
Ichilov as Senior Advisor and Mr. Alexander Ryabchenko as V ice President of Corporate
Development to the team. The Company also announces that a total of 3,080,000 performance-
vested stock options (the “ Options”) and 800,000 performance-vested restricted share units (the
“RSUs”) have been granted to certain directors, officers and consultants of the Company pursuant
to the Company’s equity incentive plan. The Options and RSUs are 100% performance -vested
with no time -based vesting component and will vest only upon the Company achieving market
capitalization and share price thresholds that represent meaningful value creation for shareholders.
Mr. Ichilov brings more than 20 years of global mining and critical minerals experience directly
relevant to UPPR's strategy. He spent over a decade as Managing Director of Traxys Projects LP,
the investments arm of the Traxys Group, a global physical commodities trading house, where he
led the firm's investment s into Lithium, Graphite, Copper, Nickel, as well as in a high-grade
Kalahari manganese project in South Africa –positioning him among a unique group of
executives with direct, hands -on experience with manganese assets and the pallet of energy
transition materials. Prior to Traxys, he served as Deputy CEO, Corporate Development of Cunico
Resources N.V., a vertically integrated ferronickel producer operating mines and smelters in
Kosovo and North Macedonia, and logistical port hubs in Greece, Albania and Montenegro, giving
him deep operational and commercial familiarity with Central and Eastern European mining
jurisdictions, permitting frameworks, and downstream metallurgical operations.
Mr. Ryabchenko is a mining operations executive with over 20 years of international experience
leading large-scale uranium and battery metals projects in Africa and Europe. He previously served
as Managing Director of uranium mine in Tanzania, where he led the full-cycle development of
the project, including exploration, feasibility studies, permitting, construction of a pilot plant and
securing project financing. Mr. Ryabchenko also headed the Dutch holding office of Uranium One,
overseeing multi-jurisdictional operations, new business lines in gold, PGMs and battery materials,
and group-level trading and portfolio management. He brings strong expertise in project execution,
stakeholder engagement, and operational risk management across complex regulatory
environments.
"With Erez and Alexander joining the team, Union Power Metals is now backed by exactly the
kind of bench it needs: real experience inside a high -grade manganese project, full-cycle project
execution and years of operating experience in Eastern Europe jurisdictions where our projects sit"
said Derrick Dao, CEO of Union Power Metals. "That is exactly the lens we need as we advance
Svabovce and Michalova toward European battery supply chains."
Regarding the performance-vested Securities, each vested Option and RSU may be exercised or
redeemed, as applicable, for one common share in the capital of the Company. The Options and
RSUs will have the following terms:
Award Exercise Price Vesting Condition Expiry
Options $0.35 Market capitalization
of the Company
exceeding
$100,000,000 and a
30-day VWAP
exceeding $1.00.
May 8, 2031
RSUs N/A Market capitalization
of the Company
exceeding
$100,000,000 and a
30-day VWAP
exceeding $1.00.
N/A
"We deliberately structured the incentive plan and these grants to align with shareholder interests
such that no member of the team sees a dollar of value unless our shareholders see value first,"
added Mr. Dao. "Every grant is 100% performance-vested with no time-based vesting component.
That is a deliberate departure from common practice, but we believe it is the standard our team
should be held to. Performance-vesting equity rewards results for high performing teams."
2,320,000 of the Options and 600,000 RSUs have been granted to directors and officers of the
Company and, accordingly, such grant constitutes a related party transaction pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and
minority shareholder approval in connection with the grant of Options to related parties in reliance
on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.
About Union Power Metals Corporation
Union Power Metals Corporation is a mineral exploration company focused on advancing high -
potential manganese projects in Slovakia, while maintaining exposure to uranium assets in
Botswana. The Company is committed to responsible development and long -term value creation
through the advancement of critical minerals essential to the global energy transition.
ON BEHALF OF THE BOARD OF DIRECTORS
Derrick Dao
Chief Executive Officer
Union Power Metals Corporation
For more information, please contact:
Derrick Dao
Chief Executive Officer
+1 825 558 3828
Carrie Howes
Investor Relations
+1 647 725 9639
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding Forward-Looking Information:
This news release contains statements which constitute “forward-looking information” within the
meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs
and current expectations of the Company with respect to future business activities and plans of the
Company. Forward-looking information is often identified by the words “may”, “would”, “could”,
“should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar
expressions and includes information regarding the Company’s intention to advance its manganese
projects in Slovakia and the anticipated alignment of management incentives with the Company’s
business objectives through performance-based vesting conditions.
Such forward -looking statements are based on a number of assumptions of management,
including, without limitation , the Company’s ability to raise adequate financing to advance its
mineral projects, the ability to retain and attract qualified personnel, favourable market conditions
for manages and critical minerals, the Company’s ability to execute its business plan, and the
general stability of the economic and political environments in which the Company operates.
Additionally, forward -looking information involves a variety of known and unknown risks,
uncertainties and other factors which may cause the actual plans, intentions, activities, results,
performance or achievements of the Company to be materially differen t from any future plans,
intentions, activities, results, performance or achievements expressed or implied by such forward-
looking statements. Such risks include, without limitation : the Company’s inability to raise
additional capital on acceptable terms o r at all; general market and economic conditions; risks
associated with exploration and development of mineral properties; and changes in commodity
prices.
Such forward-looking information represents management's best judgment based on information
currently available. No forward-looking statement can be guaranteed, and actual future results may
vary materially. Accordingly, readers are advised not to place un due reliance on forward-looking
statements or information. Neither the Company nor any of its representatives make any
representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of
the information in this news release. Neither the Company nor any of its representatives shall have
any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting
from the use of the information in this news release by you or any of your representatives or f or
omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The
Company has no intention and undertakes no obligation to update or revise any forward -looking
statements, whether as a result of new information, future events or otherwise, except as required
by law.