Canadian Uranium completes Rook 2 acquisition

Vancouver, British Columbia – June 8, 2026 – TheNewswire - Canadian Uranium Corp. (CSE: CANU ) (the “ Company ”) is pleased to announce that, further to its news release dated March 20, 2026, it has completed its acquisition of Rook 2 Uranium Corp. (“ Rook 2 ”) pursuant to the terms of an amalgamation agreement dated March 20, 2026 (the “ Amalgamation Agreement ”) between the Company and Rook 2 (the “ Transaction ).   The Transaction was completed by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) among the Company, a wholly-owned subsidiary of the Company (“ Subco ”) and Rook 2. Pursuant to the terms of the Amalgamation Agreement, Rook 2 amalgamated with Subco, and the holders of common shares of Rook 2 (each, a “ Rook 2 Share ”) each received one common share of the Company (a “ Company Share ”) for every one Rook 2 Share held. The Company issued a total of  9,663,156 Company Shares at a deemed price of $0.75 per Company Share to the shareholders of Rook 2 as consideration for all of the outstanding Rook 2 Shares pursuant to the Transaction.

Upon closing of the Transaction, the amalgamated company operates as a wholly-owned subsidiary of the Company.   No finder’s fees were paid in connection with the Transaction. The Company and Rook 2 are arm’s length parties.   Rook 2 holds the sole option to acquire a 100% interest (the “ Option ”) in an early-stage uranium exploration property comprised of 21 mineral claims covering an area of approximately 18,941 hectares (ha) in Saskatchewan (the “ Property ”). In addition, Rook 2 holds an approximate 13.8% interest in a private mineral exploration company incorporated under the laws of Nevada, which is working to acquire and develop uranium-specific interests in the United States (“ Nevada Co ”).  The Company will provide shareholders with material information regarding developments as it becomes available.   Rook 2 was granted the Option to acquire a 100% interest in the Property pursuant to a property sale agreement dated November 12, 2025, between Rook 2 and the optionor (the “ Option Agreemen t”).

As of the date of the Amalgamation Agreement, Rook 2 had issued 1,000,000 Rook 2 Shares to the optionor, paid $300,000 in cash to the optionor, and incurred $449,400 in exploration expenditures on the Property, all in accordance with the Option Agreement. Upon closing of the Transaction, Amalco will hold the Option to acquire a 100% interest in the Property and, pursuant to the terms of the Option Agreement, Amalco will be entitled to exercise the Option by:   (i) issuing 1,000,000 Rook 2 Shares to the optionor, which Rook 2 completed on November 12, 2025; and  (ii) paying the optionor an aggregate of $4,000,000 as follows:    a. $300,000 within 15 days of signing the Option Agreement, which Rook 2 paid;  b. $500,000 on or before October 31, 2026;  c. $1,200,000 on or before October 31, 2027; and  d. $2,000,000 on or before October 31, 2028; and    (iii) incurring exploration expenditures on the Property as follows:    a. $500,000 on or before November 12, 2026, of which Rook 2 has incurred $449,400 as of the date of the Amalgamation Agreement;  b. $1,500,000 on or before November 12, 2027; and  c. $2,000,000 on or before November 12, 2028.    The Amalgamation Agreement and the consideration paid by the Company thereunder was the result of arm’s length negotiations between the Company and Rook 2. The Company considered the following factors in support of the purchase price of Rook 2:   The Property is located in the prolific eastern side of the Athabasca Basin, a unique area that hosts existing mines with production grade far exceeding the global average.  Management’s understanding of uranium prices and expected future uranium prices.  Management’s assessment of the exploration work performed on the Property by prior property owners or operators.  Rook 2’s interest in Nevada Co.    The Company intends to file a technical report in respect of the Property prepared and certified by a qualified person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the “ Technical Report ”).

In accordance with the requirements of applicable securities laws and the conditions of the Canadian Securities Exchange for approval of the Acquisition, all securities issued pursuant to the Acquisition are subject to restrictions on resale until the later of (a) four months from the date of issuance, (b) ten (10) trading days following the filing of the Technical Report, and (c) ten (10) trading days following the filing of a business acquisition report with audited financial statements of Rook 2 pursuant to Part 8 of National Instrument 51-102 – Continuous Disclosure Obligations .   About Canadian Uranium Corp.   Canadian Uranium Corp. is an emerging uranium exploration and development company focused on the prolific Athabasca Basin - the world’s premier district for high-grade uranium deposits. The Company’s strategy centers on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics, and northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies, and strategic partnerships, the Company aims to accelerate project advancement and unlock value across its exploration portfolio.

Contact Information: Canadian Uranium Corp. Geoff Balderson, Chief Financial Officer 604-602-0001 gb@corporateminds.ca   Forward-Looking Statements This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements relating to, among other things, the exercise of the Option, and the Company’s strategy, plans or future operations, contain “forward-looking information”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it.

Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca), which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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