Consolidated Uranium Inc. (TSXV:CUR) entered into a definitive share sale and purchase agreement to acquire New Standard Resources Pty Ltd for AUD 4.4 million on October 30, 2022. Consideration comprised of 2,059,732 common shares in the capital of the Company (“CUR Shares”) at a deemed price per share of $1.94, which is the 10- day VWAP of the CUR Shares on the TSX Venture Exchange up to the date prior to signing the Agreement. New Standard Resources which holds a 100% undivided interest in the Yarranna Uranium projects in South Australia.

In addition, CUR has agreed to grant to the Sellers a 2% net smelter returns royalty on the Projects, 1% of which can be repurchased by CUR for the payment of AUD 1 million. Any CUR Shares issued in connection with the Acquisition are subject to approval of the TSXV. There are no finders' fees payable in connection with the Acquisition.