First American Uranium Announces Closing of First Tranche of Non-Brokered Private Placement of Shares

- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -

Vancouver, British Columbia, Aug. 29, 2025 (GLOBE NEWSWIRE) -- First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) (the “Company”) is pleased to announce, further to its news release of August 14, 2025,  that the Company has closed the first tranche of the previously announced non-brokered private placement (the “Offering”) of common shares in the capital of the Company (the “Shares”) by the issuance of 1,639,000 Shares at $0.30 per Share for gross proceeds of $491,700.10 (the “First Tranche”).  The Company expects to close a second tranche of the Offering in the coming weeks.

In connection with the First Tranche, the Company paid finder’s fees to eligible finders consisting of $23,079.00 in cash and 25,830 common share purchase warrants (the “Finder’s Warrants”).  Each Finder’s Warrant is exercisable to acquire one Share at an exercise price of $0.30 per Share for a period of 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 months plus a day ending on December 30, 2025, in accordance with applicable securities legislation and policies of the Canadian Securities Exchange (“CSE”).

The Company intends to use the net proceeds from the Offering to fund exploration work programs, mineral property acquisitions, marketing and for general working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

About First American Uranium Inc.

First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Silver Lake property. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast of the town of Houston, in the Omineca Mining Division, British Columbia.

ON BEHALF OF THE BOARD

“Murray Nye”
Murray Nye, Chief Executive Officer

For further information, please contact: Telephone: (604) 961-0296

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the completion of the Offering on the terms described herein or at all, and the use of proceeds and available funds following the completion of the Offering and are subject to all of the risks and uncertainties normally incident to such events.  Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements.  Such forward-looking statements represent management's best judgment based on information currently available.  No securities regulatory authority has either approved or disapproved of the contents of this news release.  The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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