Premier American Uranium Inc. (TSX-V: PUR) (OTCQB: PAUIF) is pleased to announce the closing of its previously announced “bought deal” private placement for gross proceeds of approximately C$15,000,000, which includes the exercise in full of the underwriter’s option. Pursuant to the Offering, the Company sold 16,666,666 units of the Company at a price of C$0.90 per Unit.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of C$1.26 at any time on or before February 3, 2029.

Red Cloud Securities Inc. as lead underwriter and sole bookrunner, together with Haywood Securities Inc. and Beacon Securities Limited, acted as underwriters under the Offering. As consideration for their services, the Underwriters received aggregate cash fees of C$823,468.46 and 914,964 non-transferable common share purchase warrants. Each Broker Warrant is exercisable to acquire one Common Share at the Offering Price at any time on or before February 3, 2029.

The Company intends to use the net proceeds of the Offering for the exploration and advancement of the Company’s uranium projects in New Mexico and Wyoming as well as for working capital and general corporate purposes.

In accordance with National Instrument 45-106 – Prospectus Exemptions, a portion of the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities sold to purchasers resident in Canada under the Listed Issuer Financing Exemption are immediately freely tradeable in accordance with applicable Canadian securities legislation. A portion of the Units were also sold to purchasers outside of Canada pursuant to an exemption from the prospectus requirement in Canada available under OSC Rule 72-503 and, accordingly are not subject to a four-month hold period in Canada.

There is an amended and restated offering document dated January 22, 2026 related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.premierur.com.

The closing of the Offering remains subject to the final approval of the TSX Venture Exchange.

IsoEnergy Ltd. and Sachem Cove Special Opportunities Fund, LP, being insiders of the Company, are participating directly or through affiliates in the Offering and are expected to purchase an aggregate of 2,556,500 Units for C$2,300,850. The Insider Participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company has determined that the Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Section 5.5(a) and Section 5.7(1)(a) of MI 61-101, as neither the fair market value of securities issued to the parties nor the consideration paid by the parties exceeded 25% of the Company’s market capitalization.

The Company also announces that it has granted 2,115,000 incentive stock options to certain directors, officers, consultants and advisors of the Company, pursuant to the Company’s long-term omnibus incentive plan. Each Option is exercisable to acquire one Common Share at a price of $0.90 per Common Share for a period of five years, vesting in tranches over a period of three years. The grant of the Options is subject to the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Premier American Uranium Inc.

Premier American Uranium is focused on consolidating, exploring, and developing uranium projects across the United States to strengthen domestic energy security and advance the transition to clean energy. The Company’s extensive land position spans five of the nation’s top uranium districts, with active work programs underway in New Mexico’s Grants Mineral Belt and Wyoming’s Great Divide and Powder River Basins.

Backed by strategic partners including Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and other leading institutional investors, PUR is advancing a portfolio supported by defined resources and high-priority exploration and development targets. Led by a distinguished team with deep expertise in uranium exploration, development, permitting, operations, and uranium-focused M&A, the Company is well positioned as a key player in advancing the U.S. uranium sector.