U92 Energy closes $8 million public offering

Toronto, Ontario--(Newsfile Corp. - August 12, 2026) - U92 Energy Corp. (TSXV: UTWO) (" U92 " or the " Company ") is pleased to announce the closing of its previously announced brokered public offering (the " Public Offering ") of 20,125,000 units of the Company (the " Units ") at a price of $0.40 per Unit (the " Offering Price "), including 2,625,000 Units issued as a result of the full exercise of the over-allotment option granted to the Agents, for aggregate gross proceeds to the Company of $8,050,000.

The Public Offering was completed pursuant to an agency agreement dated August 6, 2026 among the Company, Haywood Securities Inc. and Jett Capital Advisors, LLC, as co-lead agents, and Ventum Financial Corp. (collectively, the " Agents ").

Each Unit was comprised of one common share of the Company (each, a " Share ") and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "). Each Warrant entitles the holder to acquire one Share at an exercise price of $0.65 per Share until August 12, 2030.

The net proceeds from the Public Offering will be used to advance U92's Kurupung uranium project in Guyana, for payment of deferred cash consideration for the Guyana projects and for general working capital and corporate purposes, as more particularly disclosed in the Company's short form prospectus dated August 6, 2026.

In connection with the Public Offering, the Agents received an aggregate cash commission of $429,720 and 1,074,300 broker warrants (the " Broker Warrants ") to purchase up to 1,074,300 common shares of the Company (the " Broker Warrant Shares "). Each Broker Warrant is exercisable to acquire one Broker Warrant Share at the Offering Price until August 12, 2028. The Public Offering is subject to final approval by the TSX Venture Exchange (the " TSXV ").

The Company also announces that it expects to close its previously announced non-brokered private placement of up to 3,750,000 Units at the Offering Price for gross proceeds of up to $1,500,000, as announced on July 23, 2026 and August 6, 2026, on or about August 19, 2026 or such other date as determined by the Company. The Company previously upsized the non-brokered private placement from $1,000,000 (2,500,000 Units) to $1,500,000 (3,750,000 Units), as announced on August 6, 2026. The non-brokered private placement is subject to approval by 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 in the United States. The securities described herein 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 state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.