Premier American Uranium Inc. (TSX-V: PUR) (OTCQB: PAUIF) is pleased to report another positive update on mid-season results from the 2026 exploration drilling program at the Company’s wholly-owned Kaycee Project, located in the Powder River Basin of northeastern Wyoming. Initial drilling at the West Diane target has intersected uranium mineralization in six of eight holes, including 10 ft grading 0.064% eU₃O₈ in drillhole WD26-012. Following encouraging results at Rustler, PUR secured an additional 1,883 acres of mineral rights, extending the target area north and west, connecting the Rustler and Stampede claim blocks, and bringing its total land package to 31,724 acres.

As of September 25, 2026, PUR has completed 80 conventional mud-rotary drillholes for a total of 65,620 ft (30 holes and 23,660 ft since our last reporting), representing approximately 66% of the planned 100,000-ft program. Drilling is currently focused on West Diane, with a return to Rustler planned following completion of the West Diane campaign.

2026 Program Highlights

• Encouraging initial results at West Diane: Six of 8 drillholes, totaling 7,360 ft, encountered uranium mineralization at grades of 0.02% eU₃O₈ or higher (Table 1). Notably, drillhole WD26-012 intercepted 10 ft of 0.064% eU₃O₈, including 5.5 ft of 0.076% and 2 ft of 0.092% eU₃O₈ (Figure 2).
• West Diane drilling tests extensions of known mineralization: Historical drilling identified two discrete sandstone host target units within the Fort Union Formation, one of two historically productive host formations in the Smith Ranch-Highland area of the Powder River Basin. Current drilling focuses on the upper unit to better define the trend and extent of the paleochannel partially delineated by historic drilling. Infill, step-out, and confirmation holes are all planned to verify and expand areas of known uranium mineralization.
• Additional uranium intercepts at Rustler: Six of the 22 newly reported drillholes intersected uranium mineralization grading at least 0.02% eU₃O₈, including 2.5 ft grading 0.063% eU₃O₈ in RT26-121 and 3.5 ft grading 0.037% eU₃O₈ in RT26-116 (see Table 1 and Figure 3).
• Rustler mineral rights expanded by 1,883 acres: Encouraging drilling results prompted PUR to secure additional mineral rights immediately north and west of the existing claim block, extending the target area and connecting the Rustler and Stampede claim blocks.

• Two mineralized sandstone units identified at Rustler: Drilling has identified two mineralized sandstone host units, both within the lower Wasatch Formation. Uranium mineralization has been encountered in both sands, and gamma results, which indicate possible stacked roll fronts in the upper unit.
• Rustler drilling to resume across expanded target area: Drilling was paused after 45 holes while PUR secured adjacent mineral rights. With those rights now secured, drilling is expected to resume after the West Diane campaign, weather permitting.

Colin Healey, CEO of PUR commented, “Our 2026 program continues to deliver encouraging results across Kaycee. Drilling at the West Diane target has returned uranium mineralization in six of our first eight holes, including 10 ft grading 0.064% eU₃O₈, the thickest mineralized interval reported from this year’s program to date. These results provide a strong basis for follow-up drilling to test extensions of known mineralization. At Rustler, encouraging results prompted us to secure an additional 1,883 acres to the north and west, positioning us to test further exploration opportunities. With approximately two-thirds of the planned drilling complete, we look forward to advancing West Diane and returning to our expanded Rustler target area.”

Michael Harrison, Chairman, commented, “Kaycee represents one of the largest grassroots uranium exploration programs in the United States, with an expanded land package spanning approximately 31,724 acres in Wyoming’s prolific Powder River Basin. Our ongoing drilling is demonstrating the potential of this extensive land position, while the addition of strategically located mineral rights connecting the Rustler and Stampede claim blocks strengthens our exploration footprint. PUR is focussed on adding essential uranium resources in the United States.”

Table 1. Kaycee Significant Intercepts – August 18 to September 25, 2026

Notes: Drill holes reported here encountered uranium mineralization at or above a cut-off grade of 0.02% eU₃O₈. Uranium grades cited were calculated from gamma-ray logs measured by Hawkins CBM Logging of Casper, Wyoming, and the cited grades are “equivalent” (“e”) grades of U₃O₈. Hawkins CBM Logging’s geophysical probe was calibrated at the US Department of Energy’s Casper, Wyoming test pits in August 2026. No corrections were made for radiometric disequilibrium. Numerous comparisons of eU₃O₈ and chemical assays of PRB core samples indicate that eU₃O₈ is a reasonable indicator of the actual uranium assay. All drill holes are vertical in orientation and the geologic units hosting the uranium mineralization are generally very flat lying, therefore reported thicknesses are considered to approximate or modestly exceed true thicknesses.

Figure 1. Kaycee Project Key Targets in 2026

 Figure 2. West Diane 2026 Drill Holes 

 Figure 3. Rustler 2026 Drill Holes

Kaycee Project

The Kaycee Project in Wyoming’s Powder River Basin (PRB) consists of over 42 square miles of mineral rights over a 36-mile mineralized trend hosting more than 110 miles of identified roll fronts (Figure 4). The Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. PUR’s exploration team are undertaking the largest grass-roots ISR drill program in the United States, with upwards of 400,000 ft of drilling completed since 2023.

PUR anchors one of the strongest exploration portfolios in Wyoming, combining its Cyclone Project in the Great Divide Basin with Kaycee to drive one of the largest ongoing drilling programs in the state and significantly expand its presence in both of the state’s major ISR-amenable uranium districts.

Figure 4. PUR’s Wyoming exploration portfolio, highlighting the Kaycee Project in the Powder River Basin and the Cyclone Project in the Great Divide Basin.

Qualified Person Statement

The scientific and technical information contained in this news release was reviewed and approved by J.J. Brown, P.G., SME-RM, PUR’s Vice President Exploration, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Ms. Brown has verified the data disclosed in this news release, including sampling, analytical, and test data underlying the information contained herein.

The drilling results cited in this news release were derived from conventional mud rotary drill holes and continuously recorded geophysical responses (gamma-ray, spontaneous-potential, and single point resistivity) from a borehole geophysical probe. All drill holes are vertical in orientation and the geologic units hosting the uranium mineralization are generally very flat lying, therefore reported thicknesses are considered to approximate or modestly exceed true thicknesses. Grades of mineralization reported were calculated from the gamma-ray logs following a procedure that was first developed in the early 1960s and is standard practice in the uranium industry. The borehole geophysical logging was carried out by Hawkins CBM of Casper, Wyoming, a highly experienced and skilled geophysical contractor with a well-established history of providing reliable and accurate data.

Other information regarding the Company’s Kaycee Project, including with respect to the Quality Assurance and Quality Control measures applied during the work program can be referenced from the “Technical Report for NI 43-101 Kaycee Uranium Project, Johnson County, Wyoming USA”, dated September 21, 2025, which is available under the Company’s profile on SEDAR +, at www.sedarplus.ca.

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.