Premier American Uranium Inc. (PUR) entered into a purchase agreement to acquire Premier American Uranium Inc. on May 24, 2023. Premier Uranium is the 100% owner of Cyclone project in Wyoming and various mining claims in the Uravan Mineral Belt of Colorado. PUR will acquire the interests in exchange for 12,000 Class B common shares of PUR (?Compressed Shares?). Each Compressed Share carries the right to 1,000 votes per share and is convertible into 1,000 PUR Shares, with each PUR Share carrying the right to one vote per share. In a separate transaction, Consolidated Uranium Inc. (TSXV:CUR) entered into an arrangement agreement with PUR (the ?Arrangement Agreement?), pursuant to which among other things CUR has agreed to transfer ownership of certain indirect wholly-owned subsidiaries which hold eight U.S. Department of Energy leases and certain patented claims located in Colorado to PUR in exchange for 7,753,752 Class A common shares of PUR a portion of which will be distributed to the CUR?s shareholders on a pro rata basis on May 24, 2023.

Completion of the transaction is subject to certain closing conditions including, among other things, completion of the Arrangement and the conditional approval of the TSXV for the TSXV Listing. It is anticipated that the Arrangement and the TSXV Listing will be completed in the third quarter of 2023.