Canadian Uranium closes non-brokered private placement

Vancouver, British Columbia - August 14, 2026 – TheNewswire - Canadian Uranium Corp. (CSE: CANU) (the “ Company ”) is pleased to announce that, further to its news releases of June 23, 2026 and August 4, 2026, the Company has closed its non-brokered private placement of: (i) 2,000,150 non-flow-through units of the Company (each, a " NFT Unit ") at a price of $1.00 per NFT Unit for gross proceeds of $2,000,150 (the “ Non-FT Portion” ); and (ii) 833,000 flow-through units of the Company (each, a " FT Unit ") at a price of $1.20 per FT Unit for gross proceeds of 999,600.00 (the “ FT Portion ” and, together with the Non-FT Portion, the “ Offering ”)

“We are excited to close this financing and strengthen our position to advance our Rook 2 and King South projects, as well as our expected consolidated option to acquire a 100% interest in the Castle South project, formerly known as Cable Lake. We believe Canadian Uranium is well positioned for an exciting period of exploration and growth,” states Geoff Balderson, CFO of the Company.

Each NFT Unit is comprised of one common share of the Company (a “ Common Share ”) and one-half of one Common Share purchase warrant (each whole warrant, a “ Warrant ”). Each FT Unit is comprised of one Common Share (a " FT Share ") issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the " Tax Act ") and one-half of one Warrant. Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $1.50 at any time on or before that date which is 24 months after the closing date of the Offering.

The net proceeds raised from the Offering will be used for the exploration of the Company's flagship Rook 2 and King South projects and for working capital purposes. The gross proceeds raised from FT Portion will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures”, as such terms are defined in the Tax Act. The Company has agreed to renounce such qualifying expenditures with an effective date of no later than December 31, 2026, in an amount of not less than the total amount of the gross proceeds raised from the issuance of FT Units and incur such expenses by December 31, 2027.

The Company paid aggregate cash finder's fees of $174,400 to arm's length finders of the Company, as compensation for identifying purchasers in the Offering.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus one day in accordance with Canadian securities legislation. The securities issued pursuant to the Offering 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 the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

Castle South (formerly, Cable Lake) Update.