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May 21, 2025
Agreement with Ameranium Resources Corp. targets a 4,087-acre, drill-permitted uranium project on the Colorado Plateau
TORONTO, ON, May 21, 2025 – UraCore Energy Corp. (“UraCore” or the “Company”), a privately held uranium exploration company, is pleased to announce that it has signed a letter of intent (the “LOI”) with Ameranium Resources Corp. (“ARC”) to acquire all of the issued and outstanding shares of ARC’s wholly owned subsidiary, Ameranium Energy Corp. (“Ameranium”), which holds 100% of the Powerline Uranium Project (“Powerline” or the “Project”) in Grand County, Utah (the “Transaction”).
“Powerline is exactly the kind of project we want to build UraCore around: big, permitted and sitting in proven American uranium country,” said Peter Kim, Chief Executive Officer of UraCore. “Securing it is our first major step toward becoming a U.S. uranium explorer of consequence.”
TRANSACTION
Completion is subject to a definitive agreement, due diligence, approval by ARC’s shareholders and any required regulatory approvals. The transaction is arm’s length.
The scientific and technical information has been reviewed and approved by Seymour M. Sears, B.A., B.Sc., PGO, a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Seymour M. Sears is independent of the Company.
UraCore Energy Corp. is a privately held uranium exploration company currently pursuing the acquisition of the Powerline Project in Utah. The Company is focused on acquiring and advancing high-quality uranium projects in established, mining-friendly U.S. jurisdictions to support a secure domestic nuclear fuel supply.On behalf of the Board of Directors
URACORE ENERGY CORP.
Peter Kim, Chief Executive Officer
Peter Kim, Chief Executive Officer | p.kim@uracoreenergy.com
www.uracoreenergy.com
Technical information. ¹ Gamma-ray log information comes from oil and gas wells drilled by third parties. Those tools were not calibrated for uranium, the information is historical, and a qualified person has not verified it. No mineral resource or mineral reserve has been estimated on the Project. The LOI is non-binding, other than customary provisions, and there is no assurance that a definitive agreement will be signed or that the Transaction will be completed on the terms described or at all.
No offer of securities. This news release is for information purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities of the Company in any jurisdiction. The Company is a private company: its shares are not listed on any stock exchange and there is no public market for them. Any offering of securities will be made only by way of available prospectus exemptions, to eligible investors, and under formal offering documents. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons without registration or an applicable exemption. No stock exchange, securities commission or other regulatory authority has reviewed or approved the contents of this news release or accepts responsibility for its adequacy or accuracy.
Date of information. The information in this news release is current only as at May 21, 2025. This news release was prepared for posting on the Company’s website and was posted on May 26 2026; it was not disseminated through a newswire service. Later developments, including exploration results, are or will be reported separately. Readers should review the Company’s most recent disclosure and should not rely on this release as a complete or current description of the Company or its projects.
Forward-looking information. This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the signing of a definitive agreement; the receipt of ARC shareholder and other approvals; the completion and timing of the Transaction; and the exploration of the Project; the Company’s proposed public listing; and the Company’s business strategy and plans. Words such as “plans”, “expects”, “intends”, “targets”, “potential”, “may”, “could”, “will” and similar expressions identify forward-looking information. Forward-looking information is based on management’s assumptions as at the date of this release, including the availability of financing, contractors and laboratories, the timely receipt of permits and land access, and uranium market conditions. It is subject to known and unknown risks that may cause actual results to differ materially, including: risks inherent in mineral exploration; the risk that the Transaction is not completed; the risk that historical log information proves unreliable; title, claim-maintenance and land-access risks; permitting and regulatory risks; the Company’s ability to raise capital on acceptable terms or at all; the risk that the proposed public listing is not completed on the expected timeline or at all; uranium price volatility; dependence on key personnel and consultants; and changes in law or government policy. Readers should not place undue reliance on forward-looking information. The Company disclaims any obligation to update forward-looking information except as required by applicable securities