First American Uranium Inc. will meet with representatives of the US Forest Service (USFS) on Wednesday, January 31, 2024, for a kickoff introduction meeting (the "Meeting") regarding the Company's drilling exploration program (proposed start-up of operation: Spring /Summer 2024) at its Red Basin Uranium and Vanadium project in Catron County, New Mexico, USA. The Company will be represented at the Meeting by Frank Bain, P.Geo., First American Uranium's Field Representative. The Red Basin Uranium Project is located ~250 miles (~402 km) southeast of the uranium mill in Blanding, Utah.

Gulf Oil conducted a thorough drill program at the Red Basin project area in the 1980s before a collapse in the uranium price, including drilling an estimated 1,000 holes. The project?s region produced 1,194 pounds of U3O8 in the 1950s from ore mined with an average grade of 0.17% U3O8 (McLemore & Chenoweth, 2017). According to the Company's NI 43-101 Report, evaluations of the Company?s property from several sources confirm the presence of uranium/vanadium deposits, indicating the potential to become an advanced stage project.

The Meeting will facilitate discussion of permitting; contractor status; working with the USFS to contract archaeological and biological field surveys toward fulfilling National Environmental Policy Act (NEPA) requirements; and moving forward with National Historic Preservation Act consultation (Section 106), Tribal consultation, and Endangered Species Act consultation. Frank Bain, P.Geo., independent of the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.